Our Vacation Rental - Hawaii Investment In Resort-Zoned Area
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- čas přidán 2. 11. 2022
- Derek and Michele breakdown their journey as owners of a Class A rental property in Hawaii.
BOOK *DIRECT* for 30+ DAYS WITH DEREK & MICHELE BY EMAILING:
ourhawaiigetaway@gmail.com
See pics: abnb.me/B1HtcJdwTBb
Use Core Team Hawaii for all your Hawaii real estate needs:
Schedule a virtual consult with us
💻 www.coreteamhawaii.com/
📲 (808) 202-9194
📩 support@coreteamhawaii.com
🏠 What's your home worth in today's shifting market?
coreteamhawaii.com/homevalue
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This property is located in Ko'Olina, in Honolulu county on the island of Oahu.
Investors, you don't want to skip this video! Listen to the wins and loses of Derek and Michele's first 2 months operating this property.
This video covers:
- Tax advantages
- Hawaii state legislation
- Association rules
- Acquiring this property
- Furnishing and staging
- Do's and Dont's
- Guest experience
- Lessons and take-aways
- Bill 41
- Bill 9
- Seasonality of short-term rentals in Hawaii
SERVICING:
- Oahu Island
- Maui Island
- Hawaii Island
- Kauai Island
Derek Okahashi
RS-82017
Licensed In Hawaii
Use Core Team Hawaii for all your Hawaii real estate needs:
Schedule a virtual consult with us
💻 www.coreteamhawaii.com/
📲 (808) 202-9194
📩 support@coreteamhawaii.com
🏠 What's your home worth in today's shifting market?
coreteamhawaii.com/homevalue
BOOK THIS PROPERTY WITH DEREK & MICHELE
📲 (808) 202-9194
I ran 12 airbnbs on the Windward side for 7 years and did well! Quit in 2019 and to this day I still get state inspectors and dpp showing up. Regulations are crushing Hawaii and crushing the little guy. That said, things will take off once you get a few ratings. Best of luck!
12?! Wow, I wanna watch your video on vacation rentals!
2 Twin XL beds = 1 King! Love your videos. I will be in touch when I am ready to purchase.
It would be a Cali king.
love this channel man. remember you Derek from a decade ago when 31/fifty was going! you're doing amazing work brother.
Enjoy your channel, and thanks for sharing your story and continuing updates! I have been seeing so many stories in the news and on CZcams for months now about how the Airbnb market and the company is on thin ice. Between regs changing, investors piling into the game late, interest rates going up & sales prices going down, it may not ever be the same in many areas. Really Important to really do your research and take a cautious approach before jumping in. Best of luck to all!
LOL "...save your money and invest it..." so funny and so true! Awesome video thanks for sharing!
DAMN you are a wealth of information for me. Keep up the good work.
I wish you’d open a school for us late bloomers so that we can get in the game.
I like things organized.
Wow it’s a good deal . Love you guys videos
This vid was well warranted & much anticipated. I use to do my CrossFit workouts close by and stop over for my poke bowl @ Hawaiian Island Vintage by the Monkey Pod. Ko’olina is Waikiki phase II
Cute video.....hey Derek, hey Michele (waiving)! It's always been my understanding that two twins together make a king size bed. (Okay, towards the end of the video that was confirmed lol.....good).
Great video! Loved your note on passive real estate strategies. Learning and understanding TRUSTS can be extremely helpful to anyone who would like to start in these types of investment avenues.
Absolutely!
Good luck with the property!
Thank you for posting this! Looking into buying a Airbnb investment this year!
2 twin beds together make up a king size bed. It is actually an eastern king . A california king are longer in length. I know this because I had a king size bed myself.
You two are funny ., beautiful couple
And ko Olina is so beautiful .. stay safe and blessed
I really appreciate your honesty with how your investment property is preforming.
Keepin it real, one video at a time 🤙🏼
I furnished my daughters house in August (UH student) and furnishing now a new buy on island, it is indeed so hard! I agree with the Mrs. The kitchen is the easiest!
Congrats!! What’s the new buy? For our own growth, how could we have had you as our client?
Congrats on the investment! You guys have so much content (and the vids are always fun) - maybe a book in the future? PS: Dumb question: I always see in newer construction, that the circuit breaker panel is gray (like it comes from the manufacturer). Why? (Why isn’t it painted to match the wall color?) Aloha from San Diego. 🌺
Some day I hope to make passive income this way. Tired of my wife and I working long hours we will get there someday. BTW seeing you and wife work together is amazing I love seeing families work together 💪🏾
Have you guys ever thought about doing a documentary? You’re being in the real estate business gives you an inside look of what is taking place in Hawaii concerning the loss of land with the Hawaiian people. Just a thought. I think you guys would do very well. Aloha and Mahalo.
Thank you for the comment. Yes, we think about it modern. The struggle is feeding the algorithm weekly with content while also finding the 100+ hours to shoot the doc, but it is something we’d like to do someday.
I worked at Mattress Firm. Two Twin XL's make a King
Aloha! Long time viewer. Great content. You mention Bill 9. Have a question about that and SB2547, relating to surcharge for vacant rental property. Are any of these passed and enforced bills? Are there any laws currently that penalize investment property owners for vacant rental properties they own in Hawaii? Mahalo! 🤙
What a beautiful couple
Thank you!
Keep monthly updates if not every 2 weeks.Their hooked oh maybe it's me.Its nice so walk around and show different spots each week.More Ocean and shoreline.Aloha KELE da coconut
It's a king together
What’s the update on this? I see now that Ko olina is on the map zone that allows less than 30 day rentals. Same as Waikiki and Turtle bay. Has this changed since you made the video?
I enjoy watching this episode but I'm not a bright Hawaiian. just giving me a some what ideas in the future on what to expect. Do you have rentals in Las Vegas because I always wanted to go Vagas #neverbeenthere# im51yrold#thishawnishungry. Mahalo for the experience by watching this video.
Henry Kanoho Jr
TAT on Maui is like > 10%, it hurts a lot on top of GET too.
Bill 41 is odd. What about traveling nurses who stay at most 30 to 45 days. I am glad some people have sued the city and county of Honolulu.
Did you utilize a VA loan? Can you do more videos about how you do your taxes as a real estate agent and another as an investor. Thanks.
Make a lease for the minimum term, but allow for an early out clause that doesn’t penalize the tenant.
Two twins r a king
💪🏽😆
this was definitely a sensitive subject a few years back. My parents house in Aiea that was nothing but old retired people who lived most of their lives here end up selling their homes to investors. Those investors turned them into monster homes and air bnb, it was a disaster so. i can see why they did the bill. at the same time tho. i agree gotta have a common ground
king!
How much is property like this for primary residence purpose?
I can't seem to block videos from Mike Drutar. I'm dead set against the big island and Maui. Not enough roads.
Only long term rentals are legal as of Oct. 2022.
Derrick you n your wife cracked me up.we went thru the same things with our beach villas property & the same ups & downs in Renting it out.bill 41 should not be for resort areas better question is who is behind it.hope to meet you & talk story sometime soon 🤙
Another prospect to consider
Is that the hotel industry has been fighting hard against short term rentals via Airbnbs. They lobby governments to make rules against these Airbnb type short term rentals. I know this first hand.
You a lobbyist?
So I was a little confused. Your unit can be rented for only 30-day terms … or, because of bill 41, only for 90 day terms ? It will be interesting to hear how it pans out over time. I guess it’s going to be tough to maintain consistent occupancy year round when there is a minimum 30 day term required. I’ll look forward to hearing more how this goes over time.
We have an illegal one in my residential neighborhood, hope the owners can withstand the rental reduction when they get cited. They routinely have less than 30-day renters. Buyers beware.
@@silloh888 where is that at?
Is your rental available to military members in the middle of a PCS move (TLA)? Is it pet friendly? Inquiring minds want to know. Love your channel, BTW. Your team is awesome.
Danielle I haven’t work through the transportation office and done the TLA thing, but if the member can pay direct then certainly. No pets so sorry.
And thank you for the positive feedback on the channel!! :)
2 twin xl = king (we have that)
I have had a very difficult time finding furniture that will ship to Oahu!? It's either not in stock like what you guys ran into or doesn't ship here. Any advice?
Only advice is to be flexible and expect to spend more time that you think. Buying furniture will take time if you do it by yourself, because you'll be jumping from store to store to find what is available. My advice is to hire someone and save your time.
How can I get into this investment?
How is that ARM working out a year later?? I would be afraid of that!!
@@doc3356 5 year fixed so we’re same same for now
I will forever be indebted to you 😇 you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs Katherine Stewart
Mrs Stewart changed my life because of the high profits I got from investing with her.
I'm new at this, please how can i reach her?
@@marywatson8799 You can communicate with her on telegam with the username below...
investwithstewart💯
@@robertdonald8482 Thank you.
twin xl X 2 = standard king size
Just wondering are you or your wife military or are you or your wife a military dependent? Just wondering because your wife kept on mentioning the NEX. (Is it open to the public) My wife and I love your videos especially about towns on Oahu. I was raised in the old Halawa Housing in Aiea in the 50's and 60's. Miss home a lot, but unless you have the money no way.
Aloha uncle. Yes I am still a reservist and finishing up in a few months.
It’s a king bed 2xls we have the same set up
This is the equivalent of hoarding scarce resources!
Has SB9 passed?
In my unprofessional opinion, I think breaking even is a win.
Update!?
Forbidding day-to-day renters because it impacts the neighborhood would be like forbidding people to use the road in front of your house, because it also impacts your neighborhood.
Same with the airports, I’m sure somebody wealthy with their own jet would like to make it illegal for commercial airlines to make noise flying over their homes. People always find an imaginary moral high ground when they’re taking your rights.
king
You have to rent daily to make $.
Lol King
Did you put 30% down
20 I think
Bill 41 is crazy. I would want to rent for 10 days…. I can’t leave for 90. Nice home. One day I would love to live in Hawaii.
Link to Air B n B please!
We’d prefer to book direct if we can, but you can check us out here🤗:
www.airbnb.com/rooms/629121269620178830?adults=2&children=0&infants=0&pets=0&check_in=2022-11-17&check_out=2022-12-16&source_impression_id=p3_1667411420_c96nVIdFOia3DYJB
Don't come. Or if you do stay in a hotel. Don't take away a home that could be available for a family to live in because these unscrupulous people choose to rent it short term to visitors instead.
@@jasonanasshole1240 within the law in a resort area, one of few you can rent “medium” term
@@movingtohawaii Doesn't make it right!
@@movingtohawaii Just because you can, doesn't mean you should.
So how much a month??
Our average is prob around 8500 with cleaning and all included
Planning on splitting time. Is it up on VRBO??
@@MontanaGoldAdventure yes it is and you can also inquire through coreteamhawaii.com
@@MontanaGoldAdventure ^^to book direct
Great information and knowledge.
Never missing out on an opportunity to grow my portfolio this year.
I need to start investing.
He is on tel
You can reach him on tel
Very interesting insight and content here, unfortunately where you give the "State" the say in how one can operate one's private home, this is tantamount to socialism or even communism. In South Africa where I live, it is unconstitutional for anyone or organization be it a Homeowners or a Body Corporate to dictate the terms of the homeowners rentals as it against our country's constitution. I think that the minimum 30 day stay has been implemented more to protect your tourism hotel industry as everyone who is a airbnb host is also a hotelier. Hawaii is a huge tourist destination and an uncontrolled secondary "hotel industry" could damage Hawaii's reputation as perhaps the top vacation destination in the World. Or the Hotel Industry is so strong that they are able to strongarm the Govt officials which when it comes to the blue guys isn't hard.
Ko Olina is so disgusting
All relative. Care to share details?
You should move to Orlando or Puerto Rico then!
Go invest on the mainland then!
You are supporting development for tourists rather than kama'aina!
People need to understand that there is not nearly enough housing here for people that live here. This is what causes that problem!
This should all be rezoned!
You don't like bill 41 because you only care about youtself!
Stop selling to mainlanders!
Don't stay hear!
Shame on you! You are profiting at the expense of the rest of the people of Hawaii!
Real estate relocation to and away from Hawaii, has and always will be a thing. Only government can have a real affect on these things and unfortunately, historically government intervention leads to problems, so the best we can do is increase the financial IQ and vision of Hawaii’s people which my team is working on an initiative for. Much aloha and mahalo for your concern. We get it.
Traitors!
Fukk!ng coconuts!
Get out!
You should be ashamed!
I thought it was illegal to do short term rental in Hawaii?