Experts from across the state of Hawaii answer your Real Estate questions

We had a great discussion about best practices to get familiarized with a neighborhood where you are interested in buying a home.

Here’s what we covered at this show – click any link and go directly to that segment

Got a question about buying a home?

Give it to our experts and if we might answer it on our next show! Send it to us here

Show Transcript:

ybody today is october 15th it’s 9
00 a.m hawaii time and if it’s not
october 15th 9 am hawaii time for you it
means that you are watching the
pre-recorded version skip ahead for
about four or five minutes or so uh but
what for the uh the the the formal
program but right now we’re gonna we’re
gonna talk story with my good friends uh
dylan no naka who’s from the big island
how’s it dylan
awesome how are you
all right man and we got uh scott
startsman who’s
usually from oahu but scott’s at a top
secret location today scott how’s it
going buddy
good i’m hauled up in a bunker over here
so hold up yeah we’re not gonna tell you
it can’t say where he is now gps
location is not withstanding
but but it looks good it looks good
you’re looking good scott you’re looking
good so hi everybody and in case you’re
wondering heidi is not going to be with
us for today she’s on uh she was just
coming back from a trip from l.a and was
not able to make the show we love her
and we miss her and we’re going to see
her on the next time so uh let’s do our
little a little warm up our little
warm-up roundup uh first of all
christopher jumped in chris is chris is
the first guy chris is the first guy at
the show today hello chris welcome back
christopher longley uh welcome back to
the show and great to have you back
everybody else kind of give us a shout
out as you come on in so we know who’s
with us it’s always good to kind of have
the family back it’s always good fun so
dylan give us the low down here what’s
the shirt what’s the background what’s
what what’s happening
just here at the home the home studio
office i got my zig zane on my hilo
designer kalo leaves
um
yeah just a just a nice day and it
rained it rained all day yesterday here
after about two weeks of of almost no
rain so it’s an interesting dynamic with
uh the vlog being back that the rain has
kind of stopped after a couple of years
of really rainy wet weather it’s it’s
i don’t know if it’s exactly related to
the vlog but it kind of correlates the
volume came back and then it dried up it
dried up yeah immediately interesting
interesting so so positive thing is i
don’t have to cut my grass every week
because like that’s like my part-time
job because i gotta cut my grass every
single week when it was raining like
every day so i might be able to go two
weeks or ten days without cutting my
grasses
dylan as a guy that’s very very
sensitive to using his time and
outsourcing work don’t you have like the
yard guys come on over and do your do
your yard work so it’s it’s part of my
mental health like i i really enjoy weed
whacking for whatever reason
hey man you know what hey
you know i put a podcast on or you know
an audio book on and i go out there and
then you know you just kind of do your
thing it’s good physical labor and then
afterwards you can look at the you know
the fruits of your labor and so
sometimes you’re sitting in front of a
computer all day and on the phone you
need that so i definitely that’s like
that’s it time aside you know every week
either on a friday afternoon or a
saturday morning and like it’s grass
cutting time and i get to spend time
with my boys and put in some work so no
that’s a great that’s a great thing i i
actually have the same kind of a
situation with washing my car it’s
therapeutic i put the podcast on kind of
sit there and kind of you know you know
everything i will never i’ve never
watched a car in my whole life let’s go
these 15 bucks drive through in five
minutes and i’m out so and you know what
i haven’t cut i haven’t congrats since i
was 10. so there you go
you know that that that’s how it all
flies so judy’s with us hey judy welcome
back judy uh judy is a member of the
islander ohana uh judy welcome back and
drew’s been working with a hawaii
homeowner now and a hawaii homeowner
absolutely work with dylan uh on a home
on the big on which which is awesome uh
who else is with us will will shirt
aloha y’all from festus missouri glad to
see y’all hey man welcome back uh great
to see you well welcome back with us
patrick is back patrick part of the
ohana over here practically
patrick uh certainly part of the
facebook ohana that meets every other
friday patrick welcome back from uh
rally north carolina and and pam pam is
back again welcome pam aloha from denver
good to see you all it’s like the whole
family’s getting back together i love
this part of the show actually spencer
aloha from new york city always enjoy
your show and you know what spencer the
show is enjoyable because you’re here
that’s what makes the show fun if it was
just it was just me dylan and scott
which is actually how it started it
wouldn’t be that much fun it’s it’s it’s
way more it’s way more fun when people
are so yes yes judy exactly a homeowner
val val is back with us val welcome back
uh good morning happy aloha friday and
aloha friend to you uh jess jessica jess
is back jess is a a member of the
islander ohana and also a hawaii
homeowner through scott on oahu so jess
give us the late the the latest of your
adventures did you get furniture yet you
were getting some furniture for your
house the dogs how are the dogs doing
jess uh spencer is back with us spencer
is a kona resident now too
congratulations spencer awesome uh
welcome enjoy kona i spencer i’m curious
if you’re enjoying dylan we’re just just
before the show started we’re or no or
when the show yeah dylan was telling us
about the the rain the the rain pattern
shift uh dylan i’m sure it’s a sign of
global warming in the appending collapse
of of of the world as we know it as well
you you forgot to mention that um and
and jeff jeff is with us aloha from
michigan welcome jeff uh great everyone
to kind of see you all hey folks start
to think about the questions we got a
great show for you today we got a bunch
of planned questions of course but uh
your question made the most scott give
us the update what’s going on buddy
i’ve upgraded my coffee cup today
i’m stepping up last week i went with a
bigger one this one’s going with the
mega this is like something you would
get it 7-eleven or circle k right super
size me
hold hold that don’t even know what this
thing is to be honest with you it’s got
some kind of holder on it but it’s got a
pour spout so
i don’t know i thought about filling it
up with coffee and going to town but
yeah it’s probably better not
oh man break your wrist if that was full
of liquid trying to hold up
my right forearm would definitely be
bigger than my left forearm i had
drinking that pig for a couple of days
that could be like a a communal cava
bowl we could all just kind of put a
bunch of kava folks is the
is the polynesian um
uh narcotic it’s a narcotic sort of a
drink it’s actually used for ceremonies
uh typically spiritual type of
ceremonies uh has a lot of medicinal
purposes it comes from the kava root uh
and it tastes like mud tastes exactly
like mud uh but it’s a powerful thing
and it’s like a communal sharing thing
it’s a great way it’s a great way to
spread covet you bring a bunch of people
over
you all share out of the bowl you pass
it around and
everybody catches covet and everybody
can kind of you know think about that
funny where our minds go now
oh man it’s the worst i was watching
that texas the end of that texas a m
alabama game in texas a m one and the
entire stadium goes out on the field
everybody and my first instinct is wow
that whole the entire team may be out
for the next game due to covet protocols
or something no one’s wearing masks
[Laughter]
i was at the patriots tampa bay game
last weekend and it was no masks i mean
it was it was crazy so
well i i think what’s what’s what’s
weird about this whole thing is that you
know this the the you’re really seeing
the um
the uh the diversion of states and and
state cultures right state values and
it’s it’s kind of weird right because
here we are in hawaii where you know
we’re just short of lockdowns right we
got mass you know hardcore lock you know
mask masking you know social all this
kind of stuff is kind of still in place
and uh
you go to a place like florida and it’s
it’s as if it doesn’t even exist you
know and it’s just so it’s weird to kind
of put those two together because it
because all we know is what we live in
right
the thing is it’s like it’s fake here
right this is why we’ve had a lot of
community spread it’s slowed down now
but people comply and do the right thing
and go out in public and weather mask at
the store but people are having
gatherings all over the place you go to
the beaches and they’re full of folks
and gatherings it’s like you know so in
their private life when they’re not
required to they’re they’re doing what
they normally do and then you know in
the public areas where you know we’re
told we’re supposed to people also are
following the rules but it’s almost like
you know it’s fake right it’s a fake
fake sense of security in the in the in
the public space i in in the public area
dylan i put my mask on with while i’m
driving my car with the windows rolled
up by myself i still got my mascot
but you know privately you know
anyway hey we got some the positive for
the mask is i got the company logo and
team name on my mask and i get a ton of
advertising off of that i went to tsa
the the other week and i had two ladies
here aren’t you the real estate guy on
facebook and i’m like yeah that’s me and
so you know
great great advertising so i’m all about
it hey you might as well make the most
of it right absolutely not do it on my
forehead when the masks go away you know
so
i’m gonna tattoo a mask on my face
that’s what i’m gonna do
so this one always looks like i’m
wearing a mask anyway hey joan jones is
with us joan valentine is with us aloha
joan uh great great for you to be here
with us um
and we’ve got mary jean who’s freezing
in illinois right exactly mary jean i
was born in chicago 40 below with the
wind chill man i i i’m i was there but i
left there when i was 21 years old and
and never went back uh mk is back
welcome mk good to see you aloha mk uh
and uh let’s see uh chris chris yeah
scott must really need some coffee yeah
it’s it’s got scott isn’t it your your
cup is in proportion to how much work
you’ve got to get done isn’t that what
what’s going on so it’s an indicator of
how hot the market is
like if i start drinking out of like a
little european espresso cup okay now we
know the market’s going in the wrong way
oh man now the market’s going to admit
oh my god it’s 905 ready we’ve already
kind of passed up our front and there’s
bernardo hey welcome bernard i’ve got
your slide ready buddy bernard uh sent
us a great question uh uh over the uh
over the slide uh the the question form
so why don’t we get started will i’ve
got your question here uh we’re gonna
get back right back up is there a
requirement for how large your water
collection reservoirs have to be dylan
that’s one for you so hold on to that
one uh why don’t we kind of get the show
let’s get this party started folks um
and let’s let’s get into our a quick i
guess i got a quick news updates for you
all so uh so it looks like what’s
happening is it looks like there’s a lot
of signs going on right now that
restrictions are loosening so there’s
signals that we’re getting from each of
the islands um you know
the mayor of honolulu uh rick blangiardi
is kind of saying hey you know if you’ve
got uh
if you’ve got an outdoor event that
you’re looking at for the beginning of
january plan for it so it looks like
there’s a signal that that’s coming in
from the uh the mayor of oahu um the
mayor of kauai kauai has
they have eliminated the tier system now
they’re still kind of on pseudo lockdown
there’s still social distancing and
masking and everything else but they
have eliminated that you know that tier
one two and three or a b and c those
they’ve eliminated it uh maui the mommy
guys uh victorino he’s kind of saying
hey you know we’re we’re going to be
loosening up so it looks like it looks
like loosening up is is on the horizon
uh but i’ll tell you what if you’re
going to be going to the big island uh
you you kind of better do it sooner
rather than later because it looks like
there may be a tax hike coming up on the
the hotels it looks like uh
i’m i’m sure dylan’s going to have a
great comment about this i can’t wait to
hear dylan talk about this one but
you’re already paying attention you’re
already paying a 10 transient
accommodations tax when you check into a
hotel uh bitcoin is going to add up
another three percent of that so we’re
gonna have a nice nice round thirteen
percent tax
on your uh on your hotels and now maui
uh heidi’s not with us for today so
we’re gonna skip uh the talking about
the the maui market but it may be
cooling off there’s a little bit of
cooling the prices when just came down
below a million dollars for a home
before maui was up a million but there’s
a lot of fluctuation and then and that
that happens in in a an expert area uh
that i’m i am not the expert in so you
look at that little graph on the
right-hand side that there are our case
spike is where we’re pretty much right
back down to the pre-spike levels looks
good and uh it’s getting a little bit
cooler i think it’s going to be a cool a
cool fall you look at the week here we
go we’re going to be in uh we’re going
to be 80
1871
so i don’t know uh what uh
who’s the girl from chicago again uh the
one from from illinois yeah that’s uh
oh that’s it ma’am mary jean yeah mary
jean so check that out marijean’s gonna
be 80 this whole week hate to do that to
you anyway hey so uh let’s let’s let’s
let’s catch up first with a few folks
who have said have given their their
hellos uh let’s see
juliana juliana debut is with us aloha
juliana welcome good to see you again
and kelly uh kelly is a member of the
islander ohana and also a hawaii uh
homeowner on the big island so kelly
she’s shopping right now she’s shopping
right now kelly’s shopping are you
hanging out
she’s part of your crew this uh this
weekend dylan excellent excellent yeah
well
uh kelly you’re you’re you are in good
hands as you as you already know and uh
joyce joyce you’ve been away for a long
time i i you must i you must be really
really homesick by by now uh not to
mention a little bit my son just helped
her husband do some work on the remodel
to try and speed that up so joyce can
get home so we’re trying at the joyce
we’re trying
i dropped him off all day with her
husband chris did crown molding and
painting and stuff so crown molding and
painting awesome awesome awesome awesome
so uh so let’s let’s get some kind of
new non-real estate news updates uh sing
things that are going on uh dylan you
get a little bit think of an of an
earlier about the weather how about if
we jump over to scott scott what what do
you see kind of going down oahu news
wise not real estate related
i i see
so i see where
products are costing more nowadays but
it’s gonna pass down to on the consumer
price index component matson just um
they just sent out a notification that
their shipping charges are gonna
increase so if you’re looking at moving
over to hawaii and shipping things it’s
going to start to cost more so
all around we’re you know you’re
starting to see increases on on pricing
on various products and
services
that that bad boy is coming and i hope
it’s it’s uh yeah i don’t know what to
say about it uh okay dylan uh what’s
what’s new on the big on that you want
to report on
how about that tax
no that’s our good no no no no don’t let
me distract you i’m sorry yeah yeah well
we can talk about the tax thing later we
had an interesting story this week about
uh government corruption right so um
we had a former county council
member and chairman and a two-time
candidate for mayor plead guilty to
federal in embezzlement and bribery uh
this past week so just interested you
know you think about that stuff
happening in chicago and other places
but it happens here also and and you
know like i could have been the mayor um
in this last election ran for ran for
office in the last election while
embezzling and bribing people at his
non-profit organization so
you know
i i i am not immune we are not immune
from insane political corruption so
dylan i’m shocked i’m shocked shocked
shocked to hear to say that there are
humans that run for office
fallen humans that run for office i i i
was told that it’s angels only angels
are in government uh and only
uh so i i i’m in shock
anyway all right all right folks i think
that’s uh that’s enough for the news
update let’s let’s kind of switch over
to and and give us uh let’s let’s do
some market updates uh scott why don’t
we kind of go in in reverse here scott
give us uh what’s uh what’s going on on
oahu man
yeah i scoured everywhere looking for
little changes here and there but
nothing’s changing uh dylan and i we
always kind of talk about the number of
active listings on the market for
single-family home and it homes and it
had been been hovering around like 440
430 and then it bumped up to about 455
and i was like are we going to see a
trend here and this month it’s back down
to 4.38 so
nothing’s changed here i mean we’re our
median home price this month hit a
million fifty
thousand again
and the condos condos are going up too
the inventory is shrinking significantly
um so there’s not a whole lot changing
it’s pretty much status quo prices are
going up restricted inventory a lot of
competition um i i did have success
where i am having success right now i
wrote an offer the other day on a on a
condo a little small one bedroom condo
in town and in the urban core
and no competition and we’re trying to
get about
eight percent off the list price because
they’re overpriced which is the trend
that i’m starting to see sellers are
starting to put their home on the market
and they’re trying to be aggressive with
the price which is the wrong strategy to
do which we had talked about before
um but the two the two big things that i
would say right now i i mentioned it
last week about
uh the international buyer coming so i
just called this listing came on in
anaha and i called the agent and he said
man almost three-fourths of the showings
that i’ve had have been to agents with
foreign buyers doing
facetime or zoom showings so it’s there
that’s the
you know where i was talking about it
and then i talked to someone he’s like
yeah i’m getting a ton of activity from
that international buyer now so
it’s there i think it will come and i
think that will change the dynamic the
other really interesting point to to
understand is the conforming loan limit
for hawaii
for next year will go up it’s at eight
eight twenty three eight twenty two
three hundred and seventy five thousand
right now and it’s going to go up to
nine hundred and thirty seven thousand
five hundred what that means is
the those conforming loans are easier to
get and they’re staying kind of
standardized loans so when you go to a
lender they’ll sell it off in the
secondary market so for one it’s easier
to qualify you can put less down and you
get a lower rate once you get above that
then you’re in jumbo loan territory and
what ends up happening is you got to put
more money down higher rate and it gets
more restrictive so you just went from
822 375 to 937 500
that’s going to give more borrowing
power
to people who are getting loans and it’s
going to make it’s going to move people
up and be able to move people up in
price points it’s going to add more
competition to the market
so a real quick shout out there ray dix
welcome back ray ray is also a member of
the islander ohana and ray you gotta ray
i if i can make a suggestion you gotta
update your profile picture uh because
ray ray is this ray’s this awesome dude
uh he’s a retired lawyer and he’s got
like this like amazingly long ponytail
and it’s just awesome so ray you got to
kind of show us the ponytail dude um but
anyway you know it’s interesting scott
because uh
yeah i i wish i had a a
quick instant
replay of the last show
predictions right because like one or
two shows ago right you me i think it
was you who mentioned that foreign
buyers are coming and those form you
know once the covet thing kind of lifts
the restrictions for foreign buyers are
coming uh with with with big bags of
cash and uh it’s kind of interesting to
kind of see that so every indication i’m
getting and look and if you think about
it right the inflation pressures are
clear everybody knows that inflation’s
not coming it’s here and it’s not it
doesn’t show it’s not gonna doesn’t seem
to be what they believe to be was a
temporary thing it seems to be kind of
perhaps a much more uh uh
not quite so temporary so you got
inflation pressures which of course real
estate always follows inflation um and
then you got uh the um
uh this interest rate so all the
indicators are pointing that there’ll be
more activity and if anything that the
prices are gonna get are gonna jump even
more it’s not going to let up we’re
going to have less inventory more
activity more demand etc at least that’s
the way i’m seeing it from just from
what we’ve been saying dylan what’s uh
what’s up on what’s what’s what’s going
on on the big island
i keep going to scott’s point i keep
reminding people we’ve taken for granted
there have been no foreign buyers in our
market in the last 18 months right so
when they show up it’s gonna it’s gonna
continue to supplement that buyer demand
but here on the big island same thing
status quo the market is still very
strong we are seeing a little bit of a
slowdown on the west side of the island
in terms of the number of of homes and
condos that are selling mainly because
there’s nothing on the market and we’re
still with this is an insane insane
comparison right scott just talked about
420 430 homes on the market that’s what
we have here we have 420 some uh homes
on the market today that number is
normally a thousand or 1300 but it’s
insane that oahu has the same amount of
home there’s a million people there
there’s 200 000 people on the big island
right and so there’s five times as many
people and the same amount of homes on
the market to give you some perspective
on competition on on
oahu
but here on a big island i mean
median price continues to go up with
interesting stock this month was at the
median price for homes and condos
island-wide was almost exactly the same
uh condos were like ten thousand dollars
less like 488 and then wow homes are
4.99 yeah so the condo market is really
on fire right now number of condos that
have sold um in the past month compared
to a year ago we’re up 23
so and it already was you know warming
up last september last october is when
people started coming back and the
market started getting getting um warm
again and so
all the way across the board finalists
the sold price is almost at 100 across
the board it’s over 100 for condos it’s
98.3
for homes it’s 97 for land so people are
getting almost what they’re they’re
asking um across the board 100 of it and
days that market has continued to fall
so things are selling really quickly
we’re under 30 days on market on average
now which normally that’s closer to 90
days
so yeah nothing’s i mean it’s status quo
it continues to be hot the only thing
that is putting any constraint on it
right now it’s just a lack of inventory
this is going to be this
we’re going to mean for a little bit of
a wild ride it’s going to mean for a
wild ride um
as long as sellers don’t get crazy we
keep talking about this right because
we’re seeing this now too where people
are coming on the market i showed two
homes this past weekend that you know
at 650 would sell over asking price but
they priced them at 7.25 so now they’ve
been on the market for 40 days right so
it’s like that’s just a mistake like i
mean if you press it at 650 you might
have got 675 700 for it but then you
press it at 725 and nobody’s gonna buy
it and then you know it’s gonna sit for
two months and then everything there’s
something wrong with it so it’s just a
bad idea to be crazy about price or
trying to be super aggressive right now
because you’re you’re totally giving
away the best parts of a crazy seller’s
market by just pricing people and people
are not gonna
they’re gonna pay but they’re not gonna
be stupid about it right i mean at some
point as a buyer they’re gonna say okay
i’ve had enough that’s that’s out of
control so
well i mean
the market quote the market is like like
the law of gravity it’s got its limits
it it’s it’s not infinite right it does
it’s still it still works right it still
works there there’s a price that people
there’s a price at that people will not
pay uh there’s a price that people will
will walk away it’s not going to go on
infinitely
i think it’s going to be very
interesting i think you know clearly you
want to you want to be a uh like many
friends of the islander ohana who are
homeowners you want to be a homeowner
and you know get in the market and
that’s a that’s a big thing all right
great hey listen um why don’t we do this
real quick and so dylan could you answer
really quick the question then we’ll get
to to bernard’s question uh is there a
requirement for how large your water
collection reservoirs need to be on the
big on
there’s no requirement because it’s one
of those things like nobody requires you
to buy toilet paper like you kind of
figure it out yourself right like i mean
but there’s no regulation there’s no
regulation there’s no regulation though
i mean there’s definitely best practices
and when you you know when you talk to a
contractor who will build you a
catchment system they’re gonna they’re
gonna talk to you about you know how
many members are in your family kind of
one of your what are your habits and you
know you’ll figure it out but normally
like you want like a ten thousand gallon
tank like you can go down to like seven
thousand but if you go down to like five
unless you’re in a really rainy area
that rains a lot um you know you want to
be able to make sure that you know if
you get 30 days of no rain that you’re
going to be able to to survive that and
then of course you can always get water
delivered but yeah no no no requirements
origination no requirements per se but
there’s rules of thumb and you need to
talk with your contractor scott go ahead
um i actually just dealt with this a
little bit with a buddy of mine who um
he ran into insurance issues when it
came to this that the insurance company
wanted a certain amount because if the
house caught on fire and the fire
department needed to tap the water to to
help put it out they they want a certain
amount and then the numbers didn’t even
make sense now
not that it was necessarily a
requirement but there was um some kind
of conditions with the insurance
components so there are there are
some various variables that come could
come into play that you probably want to
you know look at make sure of before you
go down that path of putting something
in
that’s really a good point you know what
you know scott when you mention that
i i i gotta tell you if i when we uh my
wife and i we lived on the big island in
the puna district uh in like 91 i think
and we i think we lasted for about nine
months uh before we we realized it was
not the place for us but uh so we’re out
there uh we’re at the uh dylan where we
were in the hawaiian beaches subdivision
and um
so we’re we got that you know where that
was the wild west back then
it was man
it was man
it was isn’t it still the wild west
anymore pahoa is not it’s still wild
right or maybe or maybe it has a
gentrified i don’t know but it was the
wild west back then
here quit here quick story quick start
so i remember driving around and uh we
we noticed like there was all these uh
all these lots had a a bunch of like
junker cars in them all we junker cars
and the uh and all of them had the um
the hood and the trunks were open and
we’re you know driving like what is
going on over here and what we found out
that um it’s not just abandoned cars no
it was cars that they were growing
pacololo growing marijuana in the in the
hood and in the trunk of the car and
that’s why the lids were up so that when
the helicopters would come on over they
would just run around and close all that
close the hoods and close the trunks of
all the cars so they wouldn’t get busted
that was back when pop was illegal but
anyway
wild west anyway boy did i get off off
track so we’re we’re um so anyway i hope
y’all enjoying that little short story
so we’re we’re we’re we’re in the we’re
in the house and then we’re like um hey
where’s the fire hydrants
there’s no such thing there’s a thing as
fire hydrants you know and so into your
point scott and dylan you know if you’re
going to have a catchment system yeah
that that water that’s that’s that’s
sitting in your in your catchment tank
is going to potentially be used to put
the put the fire out uh of your house if
your house catches on fire uh and that
was kind of one of the interesting thing
and the other interesting thing was uh
we talked to our neighbors and and we
said hey um
what days does the garbage truck come by
to pick up the trash and and they said
well uh well you can go and take out the
trash any day you want i’m like really
it’s like yeah yeah you have to put it
in your car and drive like you know 20
miles down and and dump it off at the
thing like
okay a lot of things we take for granted
a lot of things we take for granted and
it’s just like you know normal normal
country living but uh
there you go same thing when i lived in
puerco for all those years the pulco
transfer station’s right there
if you want to take your trash you’re
putting it in the back of your truck and
and driving it up
yeah so fancy cars not and not a good
idea you know you don’t want to be
putting a pile of trash in the back of
the bentley not it’s not going to work
not not going to work
by the way to your fire hydrant story
there’s um
when looking at development projects and
i’ve had i had some guys get shut down
on this because they they didn’t do
their due diligence but if you’re in the
city municipal you know component oahu
for example and you want to go and build
if you’re if the fire hydrant is too far
away from the lot you’re required to
sprinkle your house which can add
significant cost i think it’s 150 feet
distance if you’re over that then you’re
gonna have to sprinkle your house can
add significant cost to i mean you’re
talking 20 grand probably at that point
to have to have to do that and
complexity and maintenance and all that
kind of other overhead yeah yeah oh well
yeah wild one all right okay uh let’s
move on we’ve got a a question came into
us from bernard bernard this is for you
buddy so i want to uh uh first of all
before i before i go into renown’s
question you know
we’ve if you’re you’re probably on the
newsletter if you’re not on the
newsletter you need to get on the
newsletter there’s links in the
description you could click on um the
newsletter will give you the invites
you’ll get the links to everything and
typically there’s also a
question form where you can submit your
questions we take those questions iq
them up as slides and if you certainly
if you come to the show live like
bernard just did i’m going to queue up
your slide first uh but that all being
said uh pop your questions in the
comments and uh let’s get to it so what
i want to do here is so bernard so
here’s brian’s question i’m still about
two years away from relocating and
buying a property to retire in hawaii
that said i’m visiting oahu this
december and staying for 24 days to get
to know the island
since it’s premature to engage an agent
at this time what’s your suggestion for
me to get the best use of my time out
there to get to know the waikiki kakaako
area properties and neighborhoods
besides me just walking around the area
well the first thing i did is i
corrected bernard it’s not too early to
get a hold of it and i know that scott
would prefer that you actually get a
hold of them so that you can kind of
start this thing going first so that’s
let’s just get that out of the way but
but here’s the here’s the big topic that
i i want the three of us to talk about
which is
what you know on your island uh and
let’s start with scott you know what’s
the best how would you recommend people
scope out the place for real estate
purposes you know what would you
recommend that they do what’s the best
way uh and get a little bit of details
in a little bit of details like specific
neighborhoods or areas to check or
things to do you know what kind of
advice would you give dylan what kind of
advice would you give scott but let’s
just start out with scott because it’s a
it’s a question from from bernard to
scott essentially scott what do you tell
bernard to do to get to know uh waikiki
and kakaako what’s the best way for him
to do that
yeah i love this question i mean i think
it’s a great question in in quite a few
different ways for one bernard’s doing
the right thing and he’s coming here and
trying to get familiar with the island
and he’s doing it well in advance i mean
you can see right here in this process
uh it’s
buying real estate is not an event it is
a process and bernard’s starting it two
years ahead by trying to come and get
familiar perfect i mean you couldn’t do
it much better than this and he stand
for 24 days which is a good amount of
time
what you want to do is get out of
tourist mode and get into what
try to
replicate as much of what it’s like to
live here in normal life and maybe doing
work from here but but the biggest thing
to me is
and this is why i do want you to reach
out to us ahead of time is because
okay right now you’re consid you could
be considering the entire island and
there based on your lifestyle and our
discussions i can kind of help either
recommend areas you wouldn’t consider
hadn’t considered or steer you away from
something that
you were considering that may not be the
right fit for your lifestyle for your
needs for your price point whatever it
is
so yeah let’s have that conversation
let’s let’s do a consultation i probably
do three or four a week um just in this
sense we can meet each other see if
we’re the right fit and i can give you
the recommendations but the best thing
when you’re here is spend time in those
areas so you want to go down waikiki or
kakaako okay waikiki is going to be
divided up into multiple different
little basically micro hoods you know
you get on the far end of waikiki close
to kapiolani park versus the opposite of
like the opposite end of waikiki closer
to ala moana it’s a completely different
lifestyle completely different feel
you’d be doing different things and have
different things at your access so which
do you like so spend time go to the
restaurants go to the shops
try to get out of tourist mode and spend
some time in those areas usually what i
recommend with people and we just did
this last week
we had somebody come over here deciding
between eva uh kailua and in town okay
but we went and showed them some
properties they’re definitely coming
here in those areas and then they spent
the day or two days in those areas
trying to
see what it’s like being there do they
like it do they like the shots they went
and uh even
met with people for schools that
interviewed people for schools in those
areas and did the commute drive for them
that was going to be an important
component so they got up early drove out
to the area and did the drive
you know i’m so glad that you mentioned
it because uh islander ohana members who
have gone through the course and through
the cohorts will know what scott’s
talking about we call it the on vacation
and we go into great detail about what
this on vacation is uh and i would add
as uh scott’s what you’re saying i would
add on maybe one or two more things only
which is bernard get an airbnb and
kakaako if you can this way you’re
you’re you know you’re you’re living in
the area just like another resident
would be you know when you kind of want
to simulate that yeah the tricky part
right now with covet is just
it’s hard to be able to go to open
houses saying just walk in
take for example a naha in kakaako you
can’t even get in there without showing
your vax card or a test you know a
negative covet test so they’re they’re
significantly restricting random people
coming in so they’re not even allowing
open houses right now so you would need
an appointment in that situation but to
me
if you’re thinking two years down the
road market prices are going to change
significantly to me it’s more getting
the neighborhood lifestyle because i i
always say you’re buying a lifestyle
we can pick out the pretty home and get
you a pretty home but if you hate the
community in the neighborhood you’re in
you’re never going to leave the house
and then you’re going to be miserable so
pick the pick the community first figure
out the lifestyle that you want to want
to have and be in the right community
and then we can figure out the housing
and and where the housing component
comes in with us having that discussion
is okay what are you looking for is you
know
is this neighborhood within your price
range or is there something else you
should consider
yeah it’s it’s so it’s so varied that
you really got to have that that
conversation uh that’s just gonna let
you
you know basically folks let these guys
help you by by getting to know you a
little bit better and
and uh bernard bernard agrees great
guidance and advice yes going on
non-tourist mode we’ll be reaching out
to you soon yeah bernard that’s what
it’s all about uh and uh will says scott
can you please share your information
that i may reach out and contact you for
a consultation great will
in that you’re you’re on youtube in the
description right there there’s links
click on the link it’s right there or
i’m assuming that you’re on the
newsletter just hit reply and we’ll
we’ll connect you right in um
so that’s the way to do that and and and
jessica agrees the on vacation is
critical that’s right we thought we
wanted to live in one area and ended up
buying in a totally different area
exactly precisely
they did it a great way
wes and jess
did a great job and in fact we were
headed down one path and we completely
changed directions but a part of that is
getting out getting familiar and
thinking about it they did a good job
jess how’s that working out by the way
uh fill us in on how your are you folks
selling into your new spot how do you
enjoy that i think you mentioned that
you’re just a short bike ride from ala
moana beach park how’s it all kind of
working out for you
let us know uh bernard staying in a
rental love your lifestyle advice scott
yeah excellent that’s what it’s all
about man uh that is what it’s all about
okay dylan give us the big island scoop
i mean how would you give us some
details you know add on to whatever
scott said uh you know what would you
recommend for for someone who’s kind of
like trying to scope out the big one
what you know what should they do where
would they go
same thing but it’s so much it’s so
critical on the big island because it’s
so diverse right i mean like let alone
neighborhoods you’re talking about
climate and weather and
rain and i mean all kinds of different
things so i mean you can you can you can
have a vastly different lifestyle in
not a far you’re not being very far away
from other places but definitely when
you’re picking just region of the island
then you got to look at elevation inside
of that region and then do you want to
be in a gated neighborhood do you want
to be in something that’s more you know
older and and has fixer-uppers or more
of that that old-time community feel so
definitely staying and staying for a
little while that’s that’s one of the
things about
the islands is that you know you can get
three or four days of beautiful weather
that you know um is maybe not
representative of what the weather
normally is where um you might get three
or four days where the weather is
terrible but that’s not how it normally
is too right so you kind of want to stay
for a week or two and really get a good
sample of what the the the climate is
like and the weather is like so you have
an accurate representation if you’re
there if you’re there long term because
you can get you know two or three days
where it rains cats and dogs you know
all day long and you think this is not
right for me but that could be an
anomaly right i mean so um
spending some additional time not just
doing like maybe one or two days in
different places you know spend a week
or two in different different areas even
if it takes you a couple of different
trips to really get a feel for the area
that that is best and then you could go
to the restaurants and go to the stores
and you know get those how far is the
commute because sometimes when you’re on
vacation you’re like you don’t mind
driving at 30 minutes to a store but if
you actually live there would you want
to do that every time you got to run out
and get milk or whatever you know so
those are the kind of things you really
got to think about and yeah just like
the on vacation right try and try and
live like you normally would on vacation
so um dylan what would be the major you
know if you were just to kind of break
the the big island down uh you know into
a few major districts what would those
major people want to rattle off a couple
of you know i went here and here and
here what would you give those main
those major districts that people should
try to spend some time in it’s pretty
easy it’s it’s east-west north and south
so
you know like and but but then to
further break that down east and west
you have the population centers right
you have hilo and kona on the east and
the west side so that’s where the cities
are at big box stores most of the jobs
um you know that’s where you’re gonna
have your more of your like you’re as
close to a city lifestyle as you’re
gonna get town lifestyle here on the big
island north and south very rural uh
very remote not that many amenities but
if that’s what you’re into i mean
beautiful nature hiking beaches you know
all that kind of stuff so you kind of
trade you know a little bit of that the
the creature comforts for the the nature
comforts so
um that’s that’s the biggest thing is
it’s first narrowing down like you know
what what do you need are you going to
need to work and commute every day or
are you looking for more you don’t mind
being an hour away from from a walmart
and you know you just do that every
other week or something and you want to
be in a very rural area and then price
drives that right that’s the first thing
is you really got to figure out your
price point before you can even start
looking because if you’re looking on the
west side something on the west side is
going to cost you you know 100 more than
something on
the south side of the island that’s very
similar in terms of acreage and home
size and home you know home home
construction all that kind of stuff just
because of location so that’s that
should be a big factor is figure out
your your budget first and then see if
the areas that fit the budget fit your
lifestyle
yeah you know and uh
to your point uh uh ray uh uh chimed in
you know also first know thyself
words of wisdom they’re uh ray know
thyself what are your must-haves what
really matters you gotta you know you
gotta kind of figure you’re gonna layer
all that and i think that’s kind of why
you want to have that conversation you
know i mean you could you could kind of
watch what we’re kind of doing over here
and try to extrapolate that or you could
just kind of give a call and talk to it
over the phone and talk to scott say
look
you know
and and that’s that’s kind of where it
is uh kelly uh and you gotta walk it
photos don’t
exactly you can’t you know it’s like we
joke about this right you can’t decide
what the right place is for you by
scrolling through instagram it’s not
gonna work it’s not gonna work go ahead
dylan also and also
like and also reading like online blog
posts right i mean we get so many
misrepresentations of different areas
because
who normally does online reviews
negative people right the thousands of
people who are loving it and enjoy it
are not gonna take the time to write a
long post online or review online or
something so it’s crazy i mean you know
we don’t personally ever look at that
stuff right and i get that stuff from
people i say what about this you know i
sent me an article and i’m like oh my
goodness this is this is crazy you know
i mean this is so misrepresentative of
what this actually is and sure did this
maybe happen did this person have that
experience absolutely but that’s not it
that’s an exception not the rule so
don’t be alive don’t rely on the crazy
online stuff
don’t rely on people
you know read negative stuff then go to
an area and absolutely love it and you
know don’t even understand how someone
could have said something like that
about it hey man just ch scroll down my
youtube channel on a couple of comments
and you’ll know what i’m talking about
and those are the ones i let through i
mean those are ones i let through uh i
didn’t get the other ones anyway anyway
scott you wanted to to say something
yeah i mean one of the things i’ve been
doing this for almost 20 years on oahu
and one of the things i really enjoy
doing is going out and walking to get
exercise in the neighborhoods and and i
remember this vividly
walking up monolani heights
it’s kind of a steeper area or i should
say willamina rise and then you get into
maunalani heights and i remember i’d
walk down the side streets i’m paying
attention to the neighborhood and
whatnot and i’ve been doing this for 20
years i’ve been selling in the
neighborhood no problem you know i
understand it pretty well but getting
out and walking i get a totally
different feel street the street oh wow
from here the the utility poles go
underground and the lots get a little
bigger and wow look how this view opens
up or look at these houses versus the
ones two streets down
that that’s the little nuances that you
need to get an understanding of and get
out and walk in is one of the best
things you can do i do it all the time
and
and i’m still you know i i know these
the inventory in the neighborhood
significantly better than most
you know it’s it’s like it’s amazing
synchronicity and timing because scott
is just when you know before you started
talking about walking judy had submitted
this comment and i popped it on as as
you were speaking you know walk the
neighborhoods too so exactly and and
judy can at him and visit them day and
night
and sit and listen great idea that’s a
because you know
places are one thing during the day but
they’re a little bit different at night
you know uh all kinds of all kinds of
strange creatures
all kinds of strange creatures come out
at night and we’re not just talking
about centipedes you want to know if the
neighbors have 12 people living in the
house to play the drums all night right
during the day when you’re at the open
house
yeah which
who does band practice yeah exactly oh
my god that’s hilarious that’s so it’s
so true so true excellent a great point
uh and a guy has chimed in uh guy
mcguire uh you can start to decide on
the internet but do you all agree that
sight unseen buying is usually people
that know the island whichever one it is
or at least have spent some time there
before
exactly i mean i remember we talked
about this side and seen a long time ago
and heidi made the heidi m made the
point that she was saying you know she
sold a bunch of homes to sight unseen
but
these were
places that were sold for example in a
condo building where these people had
come to visit this condo building year
after year after year after year and
they knew exactly what they were buying
so in a sense it’s not really site
unseen maybe that specific specific
specific unit but really you know sight
unseen
i couldn’t i couldn’t think of anything
a higher risk than sight unseen buying
in hawaii truly truly sight unseen like
never been but you know never been
before in fact i i had an email from
a subscriber
who’s telling me oh hey you know about i
got this job and i’m kind of moving in
can you you know and and i said oh yeah
oh great you know how many times have
you been to hawaii before it goes never
i’m like uh
okay all right uh you know danger will
robinson is is what i as i told him um
alex is chiming in thanks alex i drove
my neighborhood during the times people
went to work kids got out of school and
parents got off work i don’t want to be
in a congested area yeah
you know if you don’t wanna you know if
you wanna check out the congestion try
to drive into the urban center and get
the time yourself to get to the earth
like a bank go to the bank and get there
by eight o’clock in the morning and
that’ll give you a good taste
that’ll give you a really good taste of
what the convention looks like in in
hawaii excellent uh great top is there
anything else you guys want to add on on
this topic about getting yourself
familiarized or acclimated to uh to
understanding a certain area scott you
want to add something yeah the price
point component is to me is big because
if you come over here and you want to go
look around and get familiar with
neighborhoods and and
you know you can look online but there’s
certain engaging us is good because we
can give you that understanding if
you’re looking if you start this search
and come over here and you’re in the
wrong neighborhood one that you can’t
afford then you’ve basically wasted a
fair amount of time
so
engage us
thank you
the one other thing i was going to say i
probably get 500 to 1000 inquiries a
year from my from the website that’s
just
hey give me information on this uh
whatever do that you’re asking me to do
work i have no idea who you are on the
other end if you’re serious about it
fill out my contact form and tell me
about who you are or reach out introduce
yourself tell me this is what i want to
do sitting down for me and having a
consultation is not only way better for
you but for me as well it’s it’s a
a time time energy saver component and i
can’t get to 500 to a thousand people
who don’t want me to who don’t want to
engage my me in conversation i don’t
have the time for that
you know and and we’ve mentioned this
before you know off uh off the air but
you know when when you tell dylan or
scott that hey i’ve been following you
guys on the show
that tells us a lot right that tells us
that you’ve been following that tells it
you’ve heard what we’ve said you’ve gone
to the website you’ve got this content
there’s all kinds of things so that’s a
big qualifier i can tell you am i am i
right guys i mean if someone comes in
says look i follow you guys on on the
show that means a lot
okay
excellent uh i think that’s about i
think we got this one down pretty good
here let’s uh
let’s move on uh let’s see 942 why don’t
we do let’s do a let’s let’s go into
diamonds and deals real quick and then
we’ll we’ll come back and if we have
time uh we’re gonna we’ll we’ll hit back
uh with with with with the quit with
some more questions so so look just to
give you folks
a a quick uh let’s see
some give you folks a quick one before
we get into diamonds and deals is where
we talk about aspirational properties
diamonds properties uh or deals uh or a
little bit of both before we do that uh
if you’ve got some questions you guys
have been doing a great job send us the
q you know think about them pop them in
now so we can kind of cue them up and we
can get to them otherwise we got our
pre-sent in questions that i’ve got
planned out for the show but just to
give you all kind of a quick heads up on
that we’re at this point all right so
let’s do let’s do diamonds and deals
what do we got over here so uh let’s see
this is from heidi’s life okay whoa
that’s a great fault that’s a great shot
but i even kind of sing it so we got the
ritz residence waikiki listen for 1.4
scott
what are we looking at
yeah i decided to pick one a little
different this is resort zone waikiki
this is
you basically buy the unit and you put
it in the hotel rental pool with the
ritz service level and whatnot um this
is a two bedroom two bath
1150 square feet roughly
and a huge lanai it’s like 400 almost
500 square feet you can see it in the
lower right hand corner it’s this huge
open lanai um and what i love about the
wrist so there’s a couple of things why
i picked this one it’s totally different
if you want transient vacation rental
unit that’s actually a condo that you
put into the hotel room pool this is an
option
and there is a restriction on the amount
of days that you can use it there’s a
maximum number of days that you can use
it because it’s intended to be put into
the hotel rental pool
but i love the ritz residence my good
buddy of mine actually was the owner’s
rep on the
the build out of these and um kiora is
the italian restaurant there it’s one of
my favorite restaurants if you look to
the right of the building picture you
look out across fort derussy park out to
the sunset so you get this greenery in
front of you you don’t have any big
buildings in front of you and you have
this open space out to sunsets and out
out to the ocean which is really nice
it’s got this nice relaxed feel and
keora the italian restaurant there is
one of my favorites they were doing a
once a month pasta tasting and i was
going every month and it got to be so
popular with the locals they had to stop
it because the
the hotel guests couldn’t get in into
the restaurant during those days but
it’s got a great seating great amenity
pools as you can see in the upper right
corner
um you look out across fort derussy park
you got full kitchen two bedroom two
bath 1.48 million in waikiki
so scott can you um i don’t want to go
down a rabbit hole here and i think we
should actually have a segment about
this as a completely separate uh a
segment in in a future show
but very quickly
what do the what do the numbers what
does the sort of the roi generally
speaking look like on this kind of a
unit let’s say you buy it and you let’s
say you you come out and you stay let’s
say 30 days out of the year let’s just
say for example and you rented out the
remaining the remaining 11 months or
something like that what does the what
does the roi look like you know being in
you know you put it in the whole the way
that this works folks is there’s a hotel
it’s a hotel you put it in what they
call the hotel pool the hotel does the
management the it does kind of takes
care of it the cleaning everything else
you just kind of walk away
and you come back when when you want to
use it it’s almost like a time share so
to speak in that sense but scott how
what does generally speaking what does
the roi kind of look like on something
like this
the rois are typically lower and i would
be hesitant to answer that right now
because yeah don’t a year and a half has
just happened of
yeah we hadn’t had any tourists and now
we’re having this kind of ebb and flow
with what’s going on so i have no idea
what the numbers are right now i’d have
to dig into it yeah but it’s just
generally generally generally speaking
they’re generally lower signifi they’re
lower than to me
and here’s the methodology if you
people that are buying these are wanting
to buy them partially for personal use
and partially for investment right and
anytime you bring the personal use
component into something it’s going to
affect your roi
right so right you if you were to buy
some and you’re putting because you’re
putting it not only into a rental pool
but you’re putting it into the ritz
rental pool there’s there are heavy fees
for that and there’s a high emit or high
service level high amenity level that
comes with that and there’s a cost to it
got it got it so if you’re looking for
an investment go buy some bonds or go
buy some small small cap growth funds uh
but if you’re looking for a place that
that you want to live in it’s less about
the roi it’s more about the lifestyle
and leveraging that yeah a lot of times
if you’re breaking even you got a free
you got a free million dollar condo to
stay in in kona right that’s what you
got to think about it right it’s like
your roi is your lifestyle and your
personal enjoyment right so breaking
even would be amazing right breaking
even would be amazing yeah
right that would be that would be
phenomenal all right that’s the right
mindset to have in a
property like this you know somebody
when they want to you know do that two
or three month a year type condo it’s
like hey if the other nine months just
pays for your hoa fees and your taxes
and you know all of the other fees that
come along with it and you know maybe
some repair and maintenance and stuff
but hey if you’re breaking even you got
you’re living for free for two or three
months at an oceanfront condo you know
like
that’s also appreciating that’s also
appreciating with the market that’s you
know the nice measurements and freshmen
it’s it’s one now now when you say
breaking even what do you mean by
breaking even
you’re saying for example i come up with
the down payment and then my my
that’s a big piece of it and again just
generally speaking if you have a
mortgage a lot of times it’s you know
it’s going to definitely be closer to
breaking even if or maybe maybe in the
red a little bit if you pay cash a lot
of times even with you know 40 50
occupancy you’re gonna at least break
even right you’re gonna pay for all your
taxes all your hoa fees any additional
fees you need to be covering and so you
know that then
and obviously that’s gonna not be even
throughout the year because the months
that you use it you have low income
right so you may have some some net
income over the nine months you don’t
use it but then that’s gonna pay for the
months if you do use it so you know you
gotta look at it as a whole for 12
months got it got it
your financing options on these types of
properties are much more restrictive
they’re much more challenging and i
would say they are more challenging per
condo tell condotel is kind of the
classification for a lot of these condo
tell hotel condo yeah yeah
yeah i mean you know ideally if if you
can’t pay cash or put like a huge down
on it um and then you’re you’re kind of
you’re you’re swimming off of the
residuals and almost always the
the per night rental rate is
is
related to the overall value of the
condo right so if you’re buying a 200
000 condo your per nightly rate may only
be like 80 bucks a night but if you’re
buying a million dollar condo the
nightly rate’s going to be 8 900 bucks a
night right so at the ritz
right so so a lot of these people like
you know they try and like get really
specific about it and say well if i buy
that six hundred thousand dollar
congress eight hundred thousand dollar
condo and it’s like okay this is a
general generally speaking but if you
really dig into it a lot of times it’s
just a ratio like the value of the prop
there’s a reason the property is valued
at that and the per night rate is going
to be
it’s going to reflect that it’s going to
be reflective yeah yeah absolutely good
uh a guy uh chimed in again so a guy
must be a co-worker if you’re scott
because he said scott is you said at
dinner last night so guy guy you’re
disclosing some uh don’t tell us where
you guys went to their buyer wants to
connect with the agent so that we can
make best use of your time and our time
realtors have become more protective of
our time yeah i mean
people you know some people think that
well you know it’s like it’s human
nature right it’s not my as the buyer
it’s not my job to figure out if it’s
worth your time that’s not my job i’m
just going to pop in the question to you
you guys got to figure if you want to
answer or not if it’s if your time is
valuable you have to tell me about that
because as far as i’m concerned it’s
everything’s free everything’s free on
the internet you know scott i get all
kinds of people who ask me all kinds of
questions like you know this is why you
want to be part of the islander ohana
because we go over all this in the class
okay uh and and jim and kath hey jim and
kath welcome back i remember you folks
from
previous shows also want to check with
your lender many lenders won’t lend on
this type of property yeah exactly it’s
an investor property it’s not an owner
occupant it’s all that kind of stuff
different ratios it’s not a
you know it doesn’t have all those
qualifications all right
let’s go on to the next one over here
what do we got here we got a five is
this the this is a new one dylan a five
five bedroom six bath in keajo on five
acres 6.28 man
again just a beautiful i mean estate
property on five acres it’s not in like
any crazy gated community i think it’s
kind of over on its own i couldn’t you
know we can’t even put enough pictures
to do it justice but it’s got this
it’s up you know at like 900 feet of
elevation you know on on a steep on a
steep drop-off so you get this
ridiculous sweeping ocean view and
nothing i mean that’s that’s you know
that’s the the living room looking out
into the pool the infinity pool making
it out into the pacific ocean right
ridiculous just ridiculous yeah so if
you look at it for the huge you know
it’s actually got three half baths it’s
got six full baths and three half baths
so just an enormous estate property
beautiful you can see the kitchen there
with all the wood finishing um big bat
you know bathroom’s got a huge soaking
tub in it and a garden view you know
picture windows in the bathroom just
killer killer you know once once in a
lifetime type of property
man this uh this looks uh absolutely you
know because you can get a five or six
million dollar house in the resort the
resort areas you know where you have you
have neighbors and you have uh all the
amenities and stuff like that so you
know if you if you’re in that type of
price range it’s really we have lots of
options right and this is to me a much
cooler option where you’re on five acres
you’re you’re secluded um you don’t have
to deal with all the hoa issues and the
maintenance fee issues and all kind of
stuff it still has this amazing very
unique property
man that is uh
i’m still kind of blown away by the
whole idea of it right five acres on the
big on it’s like a it’s a that’s a in in
cale ho it’s a huge
monster property right i mean yeah i’m
just kind of thinking hey gang maybe we
can all kind of can we all like partner
up and like all go in together on this
and kind of do like a a fractional
ownership on a five bedroom six bath you
know that’s a winner man maybe a topic
for another show but i’ve been in
talking to picasa have you have you
heard of them scott it’s it’s this it’s
just um
this new company spencer ranscroft who
was a founder of zillow he left zillow
and now he started this new this new
startup but they’re basically doing that
they’re they’re doing fractional
ownership up to eight people so what
they’re doing is they’re creating llc’s
buying properties and then you can buy
um shares in the property
so you can buy 50 of it or 20 of it or
whatever you want and they they work out
and manage so it’s so for the for the
person who wants to be a second
homeowner but doesn’t want to buy 100 of
a property it’s somewhat like a
timeshare but not not the same right
like a timeshare but yeah yeah but it’s
a really cool innovative idea and for
markets like ours where even if it’s
just two owners right you do 50 of the
year or something like that and you
don’t have to worry about incurring the
cost of the whole property it seems like
a very cool innovative idea
dylan the living in hawaii ohana is
going to go in on and buy and buy the
the five acre property on cahill gang
what do you all say are you all in with
me come on pony it up let’s do it let’s
do it damn that would be amazing go
ahead scott yeah it’s interesting that
you mentioned that because i’m working
with a company out of canada doing that
on the luxury home side and where
i want to say it was like
2009 2010 where fractional ownership
concept came to oahu and for condos and
actually how it was done in the
beginning was
you fractionalize it based on to let’s
say eight different ownerships and you
actually took an ownership stake
for a fraction of the property whatever
your percentage is and then you could
utilize it during that block of time
it’s modified a little bit now and it’s
interesting because the companies are
buying the property so it’s holistically
owned and then you’re buying kind of a
share piece uh a stocks stock
certificate piece so to speak in it and
it’s interesting to to try to think
about okay what is the better route to
go you know
what’s your return how do you sell that
you know you have to either sell the
stock piece and and where is there value
how much value is there in that and what
kind of returns can you get but yeah you
can reduce the reduce your cost you know
reduce your buying amount and get into
something that’s worth significantly
more and you get an allocated portion of
time interesting concept okay well
heather’s in heather’s in with us so
heather’s working with with dylan if i’m
not mistaken right right right tonight
yeah heather let’s do it let’s let’s do
it heather i i let’s man let’s let’s
figure this out that would be it would
be what a fantasy thing funny fun thing
right that’s all islander ohio opens up
you know buys a five uh
five acre six million dollar property uh
that’s awesome the uh
jim and cath the the conventional yeah
you must have just missed it we we
talked about that earlier in the show
how the conventional loan limits are
going up uh and uh
uh corrine
uh corinthians is there a condo in kauai
yes there is we just don’t get a whole
lot of inquiries from kauai or we’d have
a kawaii uh co-host uh but uh karin just
uh dylan’s got great contacts on on
kauai experienced people who can help
click on the link in the description and
send us in your form we’ll be absolutely
happy to help you up with with an expert
who knows quite like the back of their
hands all right
all right gang so we’re gonna are gonna
wrap this up over here last chance to
pop in uh whatever questions or comments
uh you wanna and you wanna add to us
right now uh let’s see yeah okay so
let’s move on i think that’s i think
that’s pretty much it the uh we’re gonna
go to our closing thoughts and i’ve got
the wrong label on it so you’re gonna
have to ignore it when you see it so
i’ve got next show is october 15th it’s
not october 15 that’s today is october
15th i should take that off to make it
timeless i could do it i could do a live
editing but that’s like watching paint
drive you all know the idea we’re going
to meet in two weeks which will be what
the 29th 29th of october uh let’s go
through let’s go through our closing our
closing thoughts uh why don’t we start
with scott first and then dylan you
close it up scott what’s your what’s
your closing thought today
yeah i always go back to um
you know there’s the the element of
growth
you know in order to have growth you
have to become uncomfortable and when
you and when you do have growth there’s
a bigger
satisfactory
uh kind of experience or aha moment at
the end of that and i i always look for
trying get comfortable being un
uncomfortable is one of my biggest
things and how do you step outside the
box and constantly push for growth and
learning and
and having a cool experience different
experiences going on this journey
no pain no gain no pain no gain dylan
what you got for us buddy all right i
got if you’re not willing to learn no
one can help you if you’re determined to
learn no one can stop you and just want
to say that
back up you okay that’s a great one but
back it up and say it again slowly
slowly if you are not willing to learn
no one can help you if you are
determined to learn no one can stop you
and just in the context of appreciate
everybody coming on and watching and
learning and being educated and nobody
can stop you
you know i gang uh the the 38 of the 39
of you that are there that are still
here with us you are part of an elite
group you’re the ones that kind of take
the time to kind of research and you’re
the folks that come out ahead because
you got you’re here with us you’re
listening in you know where where the
archives of the show are you’re part of
the newsletter i’m sure uh and this is
what it takes and you know i get
i can’t tell you guys
uh oh let’s let’s we got a little bit of
hey hey you know i just thought about
this so thank you
amancio uh abundance mindset over
scarcity mindset hey if you folks got
your your closing thoughts pop them in i
love that i love to throw them on there
it’s great that’s a great idea uh if you
got words of wisdom pop them in love to
see it um this is this is it right judy
uh join the islander ohana and learn
tons of pertinent info and this is the
thing you know the the this this whole
thing is is about you know what i’ve
noticed is that the people that go
through the programs right the people
that go through the show the people that
reach out to us the people that join the
under ohana they
to to to a person
everyone has like an amazing experience
and
if you look at those comments on if you
look at the comments on various blogs
dylan you get like all kinds of horror
stories it doesn’t happen with us not to
say that it won’t ever happen but we’ve
got a process that we go through because
we’ve been there done that’s you know
dylan was born and raised here i’ve been
here for close to 40 years scott’s been
here for over 20 years this is what you
get when you have this that this kind of
experience so yeah hey we got the the
conference coming in guy lagoy great job
you guys on the show seriously well done
guy come on in buddy waters the water is
fine great great to see you here again
uh another great show thanks patrick
really really really really appreciate
oh i love this one jim and kath
if you’re not first your last good one
good ricky bobby that’s the philosopher
ricky bobby
ricky bob
that’s the baby jesus with the beard
that’s that’s that’s what i remember on
that show so hey i got my i’ll close it
when my closet my closet thought is this
is i say
if you happen to be a person who who has
read the bible or likes reading the
bible try this i’ve been doing this now
for
i want to say almost a year and it’s
been really really cool uh the section
the the book of proverbs is really cool
the book of proverbs has 31 chapters in
proverbs try to read a chapter of
proverbs that correlates to the day of
the month so today is the 15th read
proverbs 15.
this and and read it again the
repetition read it again and again and
again month after month after month uh
the it is an incredible incredible
incredible book of wisdom read proverbs
all right uh and uh let’s see we got
some uh pat is chiming in here mahalo
great show as always pam it’s great
because you’re here it’s great because
you’re a part of it that’s what makes it
great uh will great show always learn
something yeah me too me too that’s what
makes it so much fun all right uh aloha
folks i’m gonna go wriggle right down
the line uh dylan and then scott give
your alohas have a great great weekend
everybody hello hi everybody thanks
folks yeah thanks for all being here
have a great week we’ll see you folks in
two weeks