Things to Keep in Mind When Purchasing Maui Property, Part 2

Are you unsure what to expect when buying property on Maui?

Here are three things you should keep in mind when purchasing property on Maui:

There are multiple property types.

Maui features condo, single family home, land, investment property, and interval ownership types. While condos and homes may be straightforward, what you can do with land depends on the zoning, investment properties can allow for short-term rentals and require management, and every interval ownership has its terms and conditions. An agent can make sure you understand the requirements for each property. 

There are two types of land tenure.

There are two different forms of land tenure in Hawaii - leasehold and fee simple. If your property is fee simple, you own the property and the land it sits on, similar to real estate on the mainland. If your property is leasehold, however, you own the property but not the land and must pay the landowner lease rent. Also with leasehold, there‘s no guarantee the landowner will renew your lease at the end of the term.

What does financing look like?

We recommend getting pre-qualified with a Hawaiian lender rather than a bank on the mainland to make the process easier.  Sellers on Maui are more comfortable accepting from an offer based in Hawaii. Getting pre-qualified is the first step in owning a property in Hawaii if it is not a cash deal.

You’ll want to:

1. Contact your agent and they can connect you with several lenders, mortgage specialist to start the pre-qualification process. 
2. Fill out a loan application, get pre-qualified and eventually pre-approved
3. Once you are pre-qualified and know the amount, we can set you up to receive listings within your price point so you don’t miss out on any potential dream properties.

Find Beachfront Homes for Sale with a Maui Real Estate Agent!

Robyn and Mark can prepare you for the entire home buying process and educate you along the way! They're available 24/7 to answer any questions and can make what seems like an intimidating process simple, easy, and quick.

To start searching through Maui beachfront homes for sale, fill out a contact form or call (808) 757-8053.