In Hawaii we encourage our buyers to use local lending institutions.  Buyers wonder why and sometimes think we're trying to help a relative or somebody else make some money.  Here's a great example of things going wrong with a mainland lender doing loans in Hawaii. 

A customer decided to make an offer on a townhome at Makaha Valley Plantation listed for $150,000.  We had previously made an offer on another listing in the same complex and obtained a loan prequalification letter.  The offer on that first property was not accepted and we moved onto another.  Since Quicken Loans had the buyer's information available, they issued a loan approval letter on the same day that we made our new offer.  We were feeling good about things and proceeded through the…

The Fat Greek

The Fat Greek has been at 3040 Waialae Avenue since December 2007.  We'd heard good things about their food.  One customer who lives nearby in St. Louis Heights told me he eats lunch at the Fat Greek nearly every day!  There must be something to this place.

We visited the Fat Greek and checked it out.  At this restaurant, customers order and pay for their food at the cash register.  They're given a small fob and take a seat.   When the fob lights up customers pickup their food.  The Fat Greek is BYOB, too.  Parking is the biggest challenge here.  There are approximately six restaurants packed into a small area with perhaps 15 parking spaces total.  If we can't find a space, we park a block or two away in a residential area and walk.  City…

Cute old house near downtown and UH Campus

This house was built in 1935 and has seen some renovations along the way.  I really like houses such as this one, with its older doors, single wall construction and classic architecture.

Located on Bingham Street in Moiliili, the home is situated on a 4,652 square foot lot and has 1,056 square feet of interior area.  Three bedrooms, one bath, a large living room and 10 foot ceilings.  There's lots of parking.  The driveway curves around the back of the house.  A carport is adjacent to the house and another carport is behind the house.

In June 2008, a similar, smaller house sold on Francis Street in Kapahulu for $665,000.   This home was originally priced at…

Hawaii Superferry gains popularity

The Hawaii Superferry sails past Diamond Head at 6:30 a.m.

The Hawaii Superferry was introduced to our state in 2007.  Oahu residents were generally excited about the new mode of transportation for the islands.  Residents of the outer islands (Kauai, Maui and the Big Island) were not all so enthusiastic.  It's not that every outer island resident disliked the Superferry, but when a new cause came around and gave residents an opportunity to band together, they went for it.

History of the Hawaii Superferry

The Superferry idea was conceived around the year 2001 by a group of investors with Hawaii roots.  The plan was to offer affordable interisland transit that allowed residents to take their personal vehicles between…

Panya Bistro

This restaurant is on the second floor at Ala Moana Shopping Center.  Panya Bistro is a trendy restaurant with fancy, modern decor and great food.

Walk into Panya and the first thing you'll see is their bakery.  Many Ala Moana customers and employees stop by Panya for a pastry, bread or cake.  Just beyond the bakery is the restaurant seating area and the bar.  A waiter will seat you, then take a look at their interesting menu.

On ths particular evening we started off with a spinach salad, caesar salads with salmon, gyoza and spaghetti.  The salads are delicious and I loved the dressing on the spinach salad.

Panya's spaghetti is not the standard italian style meal.  The meat sauce is a little meatier and less saucy.  It's very good, just…

Buying a vacation rental in Hawaii

Vacation rentals are a popular topic for mainland investors buying in Hawaii.  Buyers often think about owning a property here, renting it out like a hotel room for a tidy sum and living in it when they vacation in the islands.  It's a great idea!  There are some considerations that buyers should be aware of.
 

The difference between a vacation rental and a normal rental

In Hawaii, a transient rental is defined as being for a  period up to 180 days.  Residential (non-transient) rentals can be for periods of 30 days and more (yes, it's a bit confusing).   In general we consider 30 days and longer as non-transient rentals for residential properties.

Applicable taxes for Hawaii rentals

Hawaii has two taxes that may…

Nico's Restaurant

Nico's is a casual style restaurant near Honolulu Harbor at Pier 38.

I ate at Nico's today for the first time.  My friends (who are also buying a house) invited me to meet them for lunch and sign their purchase agreement.  I asked what they were having.  The husband was ordering a barbecue chicken plate and the wife was having Garlic Opah (Opah is a mild tasting fish, good stuff!).  I decided to try the Garlic Opah. 

The Garlic Opah plate was great!  I'll be going back to Nico's in the near future.  This restaurant is close to the ocean and gets fresh fish for its plates daily.  They also have regular local style foods (Loco Moco, Chicken Katsu, etc).

Nico's was packed with people at 1 p.m.  The food tastes great and the prices…

Oahu housing market - June 2008

Statistics for June 2008 are published and Oahu home prices continue with their resilience.  While the number of units sold is down 31% from a year ago, median home prices have decreased just 8.8% compared with June 2007, a relatively small amount compared to markets in other places, such as California, Nevada and Florida.  Oahu's condo and townhome unit sales are down 35% with just a 1.9% decrease in sales prices versus a year earlier.

Why is our market so resilient?  For one thing, lots of people want to live in Hawaii.  We have a high demand for homes from current residents, plus a steady influx of people from Asia, Canada, California (yes, even at times like this) etc.  I can't blame them for wanting to live here, I've…