If you are a like a lot of visitors to Hawaii, after your first visit to the islands you’re hooked! You may find yourself picking up real estate brochures on your way to the beach, and by the time you make it to your 3rd or 4th day of your Hawaiian vacation, you start calling agents to see property.

Buying a second home or a vacation home in Hawaii is no longer an impossible dream. Follow these steps during your journey to finding the perfect vacation home, and you’ll be sipping mai tais on your new lanai in no time.

Flip Over The Napkin
Before you set your heart on a particular property or area of the island, spend a little time doing the math and figuring out if a second home or vacation home in Hawaii is realistically in your future. While you’re having lunch by the poolside, flip over your napkin and pencil out your finances.

If buying a second piece of real estate in Hawaii is a stretch for your budget then you may want to consider other options such as timeshare or a shared interval ownership. Ask your agent to help you understand these options if you cannot afford a second home outright.

Nothing will kill your vacation home dreams like not being able to afford it!

Be Realistic About Renters
Most second home or vacation home owners in Hawaii rent out their home or condo when they are not there to help offset the cost of the property. While rental occupancies are usually high in Hawaii year round, you should not count on rent paying for 100% of your real estate investment. Always assume a 25% or more vacancy rate, and plan to incur some monthly expenses on your Hawaii real estate each month just to play it safe.

Also, if you are going to rent your home or condo out on a monthly basis, set your rental rate at 10-20% higher than your mortgage in order to cover costs and to create a cushion for unexpected expenses.

Decide on the Type of Property You Can Maintain
If you are looking at buying a house in Hawaii as a second home or vacation home, remember to keep in mind things like lawn maintenance, garbage service, and general upkeep. You will want to make sure someone is looking out for your property while you are not in Hawaii. For this reason, a lot of second home or vacation home buyers choose to purchase condos. Association fees to the condo association usually covers enough of the upkeep on the property that being an absentee owner is easy and relatively worry free.

Find a Good Agent
If you’re reading this blog, then you’re on the right track! I will be happy to help you find your perfect Hawaii vacation home, second home in Hawaii, or your full time Hawaii dream home!

I am committed to keeping my buyers and sellers informed, educated, and providing amazing support. Feel free to ask me anything.

You can leave a question in the comments of this blog, and I’ll be happy to respond here on the blog, as well as contacting you in person to answer any other questions you might have about buying real estate in Hawaii