Before buying Big Island Real Estate, our customers naturally have lots of questions about the Big Island of Hawaii. As Hawaii's Real Estate Specialists, we are here to help you through your transition of moving to the Big Island of Hawaii. We answer the most common questions about the Big Island of Hawaii below. Just click the question and it will take you to the answer! And when you are ready to purchase Hawaii real estate on the Big Island, remember;
NOBODY knows the Big Island like we do!
1-800-789-4753 - locally 969-7863 - email: info@RealEstateHawaii.com
We would be happy to answer any additional
questions you may have. Contact Us
Buyers Ask:
What
is the difference between Leasehold and Fee Simple?
What is a CPR ?
What do I do about a pet quarantine?
What can you tell me about the schools in Hawaii?
What are the locations of the medical facilities on the island?
What is the rainfall on the Big Island?
I heard the temperture on the Big Island is the same year round is that true? How about rain?
Are there major shopping areas, if so where are they located?
What is the best way to take title to a property?
What is the average priced home
on the Big Island?
What will it cost met to ship my personal
belongings?
Who are the major lending institutions
in Hawaii?
What is the difference between Leasehold and Fee Simple?
It is easy for Buyer's to become confused about this. Simply put, if you purchase a fee simple property, you
own the land and all of the improvements upon it.
However, if you purchase a leasehold property, you are buying
a lease for the land. Most commonly, you own the improvements on the land.
If, for example a residential leasehold has been set for 55 years but
if the ground lease began 30 years ago, there would be 25 years
left on the lease. Most financial institutions require a minimum number of years
remaining on the lease before they will agree to lend on the
property. Some require that the lease be renegotiated with
the ground lessor, whic is often a family trust or large landholding
estate. This can be a long process, in fact,
lessors are not obliged to extend or renegotiate the lease.
So why would anyone buy a leasehold property you might ask? Often it is less expensive to purchase and the lease is depreciable,
which could have some tax advantages.
Before purchasing any property, you should consult
with your tax advisor and your attorney about how to protect
your tax position and your estate.
back to questions
What is a CPR
? CPR stands for "condominium
property regime" in the state of Hawaii, and is most commonly heard when referring
to a number, the "CPR number", which identifies one
condominium property from another for tax and sales purposes.
Ffor example, a single-family residence has a five number Tax
Map Key (TMK) such as 3-1-5-11-10, which refers to a specific
piece of land and everything on it. Because condominium ownership
includes a percentage interest in the land with other owners,
the Tax May Key has a sixth number, the CPR number. This identifies
a specific apartment in a high rise or a portion of a lot when
land is "condominiumized." Thus a condo TMK number
looks like this: 3-1-5-11-10:226.
back to questions
What do I do about a pet quarantine? Going directly
to the source for this information is your best bet. You can go to http://www.hawaiiag.org/hdoa/ai_aqs_info.htm. There you will find their checklist for Hawaii Resident Pets.
Although the State of Hawaii is very strict about quarantine procedures, the old law was modified in June 2003.
back to questions
What can you tell me about the schools in Hawaii ? There
are public schools in or near each community. There are also are a number of private schools. You should allow time to investigate for yourself
and decide which would be the better choice for your children.
Hawaii District DOE (Department of Education) at http://nssb.k12.hi.us/cgi-bin/clinks/category.cgi?category=/Hawaii+District+&start=0 and select a grade level. You can access information on the
University of Hawaii at http://www.hawaii.edu/ and our Hawaii
Community College at http://hawaii.hawaii.edu/
back to questions
What are the locations of the medical
facilities on the island? Here on the Big Island there are hospitals
in Hilo, Kamuela, Kohala, Kau and Kona. Additionally, medical
clinics and physicians' offices are located in most communities.
back to questions
I heard the temperature on the Big Island is the same year round, is that true? What
about rainfall? The Big Island has everything
from desert to rain forest. For basic information regarding
weather around the Big Island, go to http://www.gohawaii.com/weather/default.aspx
back to questions
Are
the major shopping areas, if so, where are they located? Both Hilo and Kona offer many choices.
Prince Kuhio Plaza, a regional mall, is tenanted by national chains
and popular Hawaii retailers. Walmart, Home Depot, Borders, Ross and Office Max are all located in the same vicinity. Surrounding areas and Downtown Hilo offer many fine boutique and island-style shopping and food choices.
Kopiko Plaza is
located in in Kailua-Kona and is tenanted by national chains
and popular Hawaii retailers as well.
Kailua-Kona, boasts some of the favorite shopping
places for residents – K Mart,
Price Costco and Lowe's.
Smaller communities offer specialty boutiques and
art galleries , Waiamea excells in this arena.
For a major shopping excursion,
many Big Island residents travel to Honolulu where shopping is art form.
back to questions
What is the best way to take
title to a property? Because of the implications for your estate and
tax status, we urge you to discuss this question with your
tax advisor, attorney or estate planner. The information you may request about the various ways in which title can be held we can give you, but company polic
