Should I Buy a Condo in Kona in 2024?
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- Опубликовано: 5 авг 2024
- There are MANY factors that have come up in the past year that people consider buying a condo in Hawaii (and West Hawaii) need to understand. Insurance companies have pulled out of the market or pushed prices up, legislation trying to get more long term rentals opened up for residents is creating pressure on single family homes that COULD be a good thing for condos in the long run and the slowing market all impact condos.
We also discuss a condo we are listing! Here is the link if you want to check it out! bit.ly/KonaEastwind
Chapters
0:00 intro
1:02 TAR Bill and O thers
6:45 Condo Insurance
9:55 Condo Pros and Cons
13:29 Condo Vs House
17:27 Condo Maintenance
20:06 Is this a good time to buy a Condo
25:00 What is happening in the West Hawaii Condo Market
29:00 How We can Help You.
30:00 Community
Eric and Julie Ziemelis offer marketing expertise to home sellers with a large group of buyers from our private Facebook group, our real estate RUclips channel and our extensive email list of potential buyers. For Buyers, we offer expertise and resources to ensure we remove the uncertainly from the experience AND provide a community you can reach into for information about moving and events to help you create friendships when you arrive. A full circle Ohana experience!
Contact us!
Julie Ziemelis | RS-85062
REAL Broker
Julie@Ziemelis.com
808-333-1004
www.365hawaiiliving.com 
Хобби
When someone says that "Insurance companies have to pay for disasters" it truly makes me mad! NO they do not! WE pay and pay and pay into these companies and for the most they never pay out to a homeowner. What they do do is mismanage the money that consumers pay into them. They OVER PAY their swollen top heavy people so much that they dont have the money to pay out when disasters happen! That is mismanagement on their part in the extreme! Then they respond by raising our price for insurance - an insurance that we have to have so we have no choice but to pay! That is extortion!!! These insurance agencies must be better regulated and controlled !
Insurance companies are the reason for the term disaster capitalism, they are completely out of control nowadays …
Thank you for all you do! You have more energy then the Energizer Bunny! I always like your realism and truthfulness. I have volunteered a few times with you and all the people are very nice. I know I don't volunteer a lot, but that is because I am still a little shell shocked from doing too much volunteering on the mainland and need a bit of a break. Like you, every day of the week was volunteering or being on the board of many organizations.
We relied heavily on your videos and books and other research before we moved here and all the cons for US, were never an issue. 4 years and counting! (I do miss well stocked shelves in stores, however.)
Been watching you guys for years, have a 1/1 down off Alii,sounds like we're doing everything right according to Eric,2 years away from retirement, will be there in a week for a month,woohoo!!Thanks guys for the updates through the year while away from Kona,Aloha
Video idea: The REAL Truth About Vog. How bad is it? How often is the air quality not good? Should it deter you from moving there?
Very informative! Thanks
Groundhog Day 😂 I could only imagine that scenario.
Sometimes we get the feeling like you guys are saying things that are deterring people from moving to hawaii, nothing will stop us from moving to hawaii. My son is 17 years old and lives in Kona Kailua and is a Hawaiian native. KUMU.
At 23:00 You said 1/1s have higher occupancy and garden views with good amenities rent out well and since they are priced lower it could be a good buy. Is that based on your RE investing experience or that's just what you heard from someone? I ask because I own 2/2s to 4/4s in the state of Hawaii and what I've found is contrary to that. When it comes to STRs, most of the income is made by the top ~20% of the properties and if you ignore 2020-2022 those 20% _generally_ are the ones that are either right on the ocean or if they have awesome amenities or location, then you can get away with just great views of the ocean. Also, the 1/1s and 2/2s are abundant so even if the demand is high, the supply is higher. It's the 3 bedrooms or more that have not only a much higher occupancy but also higher ADRs to be able to offset the crazy high HOAs if it's a condo.
I had 50+ bookings in each of my oceanfront/ oceanview STRs and not one of them said they were on a honeymoon. We would've taken extra steps to make their stay even more special if that was the case. Many were just discerning guests or they were in a larger group so they could split the cost of the stay.
I almost bought an STVR house in Hawaiian Beaches (lava zone 2). Insurance would have been 8k on a 500k property. The SVTR might also go away with TAR legislation. Thinking now that I am lucky the deal did not go through.
I like your guys' show, but I noticed that all the houses you guys talk about are in the multiple hundreds of thousands. What about the beautiful homes for 60,000 to 80,000?? Unpermitted homes. My wife and I have two children are going to be moving to the east side of the island, and we found multiple homes for under 150k.
Condos and affordability video in NOT west Hawaii for future videos. The pros and cons to being outside the tourist zones
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No.
The answer is: No!
Eric such a stud