Transient Vacation Rental Update (TRV) for Maui

Just wanted to update our Real Estate clients who are operating or are thinking of purchasing a Maui home for vacation rental either in addition to it being a primary residence or not being their primary residence.


Since July 3, 2007 when Maui County Planning Dept. Director Jeff Hunt started to enforce vacation rental owners operating without permits a lot of meetings and for and against enforcement articles have been in local news.

Owners are only allowed to honor their guests booked till the end of this year. Owners have also received notices requiring them to discontinue business or face high daily fine rates.

Most owners speaking out say that they were told since the County's process was taking years to grant a permit, and the county encouraged them not to worry about permits, they only worried about paying taxes for their vacation rentals.


The County side seems to be that the two previous administrations were wrong in not taking enforcement seriously and it spurned a growth in non permitted vacation rentals on Maui, with some not paying their share of taxes.


There doesn't seem to be a happy ending for this issue on Maui and it seems that any resolution will take some time. This is very important for anyone purchasing property on Maui and thinking that they will supplement their mortgage by doing vacation rentals. There are very few that are operating now with permits and it is important for buyers to take note.


If you would like other Maui information please follow the link below or email me at:


MauiGina@Gmail.com


http://www.mauirealestateagent.info/Maui_Pics__Information/page_1881504.html




Aloha, Gina Duncan, R (S)

Perfect in Pukalani Maui Hawaii

Pukalani means "Hole in the Heaven" and to some that sums up why they enjoy living Upcountry in Pukalani Maui Hawaii. Unlike Kula which can be cooler in climate and Makawao which sees more precipitation, Pukalani seems "Just Right".
Among the great Upcountry activities you will find in Pukalani a superb Golf Course that is open to the Public. The Pukalani G&CC features tall stately Norfolk Pines gracing the greens and ocean and mountain vistas abound.
At the town center you will find a swimming pool, grocery store, restaurants, post office, banks and more. Puklani even claims a Starbucks and McDonalds. Not bad for a town that still retains the small town atmosphere many on Maui crave.

Our Best of's for Pukalani include:

Best Restaurant (Lunch): Lunch at Subway or Bento from Pukalani Superette. There's always someone there you know.
Best Restaurant (Dinner): Serpico's Italian (Their Pizza and Pasta are Delicious)
Best Restaurant: (Breakfast) Pukalani Golf &CC (Welcome Back)
Best TO GO & CATERING: John Paul Fine Foods (Hurry Back)
Best Park: Pukalani Swimming Pool/Tennis Court & Grass Field
Best Scenary: Pukalani Golf Course (the Bicoastal Views are Beautiful)
Best Pastries: Foodland
Best Coffee Spot: Starbucks
Best Activity: Golf at the Pukalani G&CC
Best Store: Omachya (Japanese Store with things that will delight all ages)










Nestled at the far end of Pukalani along a large/deep gulch, and surrounde d on the other 3 sides by Kamehameha schools property, pineapple fields and green golf course fairways is the charming neighborhood of Kulamalu. This 60 plus home deed restricted neighborhood features custom built homes that were built from approx 2003 to 2007.
Our listing in Kulamalu was built in 2003 and features 2300sf, 4 bedrooms, 3.5baths, granite counters, new carpeting in all bedrooms, and tile throughout the main areas of the home. This home is situated back against the Kamehameha property with the above spectacular mountain view and the lot size is over 10,000sf and has a dream kids playset. Some of the best features of this home are the Master Suite (bedroom area alone is 24.5x13.5) and the two lanais that offer gorgeous Ocean and Haleakala views. Once you visit this special place you will want to call it your home. Listed at $838,000. Please see our listings on our home page for further details at http://www.fineislandproperties.com/









Aloha, Gina Duncan, R (S)
808-250-9858

What's Going On with Banks, Lenders & Home Loans on Maui??

What is Going on with the Banks, Lenders & Home Loans on Maui??

This week Fine Island Properties is interviewing our Affliate Aloha State Home Loans to get some answers regarding the recent mortgage meltdown and what it means for our buyers and sellers.
Kim Haueisen of Aloha State Home Loans is answering our questions and if you have additional questions please contact Kim directly at 808-298-7092 or email her at Kim@FocusMaui.com
What does Subprime Meltdown mean and how did this come about?
Many Subprime and Adjustible home loan rates have moved dramatically higher, due to the Federal Reserve Boards recent rate hike cycle. So as these rates are adjusting higher (and homeowners payments right along with it) the homeowners are finding that they are unable to keep up with the dramatic increase in payment. In the past homeowners could put their home on the market, realize enough profit to cover any prepayment penalities associated with their home loan and literally move on. But the soft real estate market isn't making this quite so easy any more and houses aren't selling as quickly and the home appreciation rates enjoyed in the past have moderated.
How does this impact our Buyers and Sellers?
In the short term, home loan rates are benefiting, as the stock market is taking a beating, causing money to flow into Bonds and Mortgage Backed Securities, which benefits the buyer who needs a lower rate and opens up a bigger pool of buyers for a seller. But the long term picture may spell higher interest rates ahead, as lenders have to absorb the cost of the loans that went belly-up, combined with the cost of increased compliance and accountability standards. Now more than ever it is clear that buyers and seller need to work with a Real Estate Professional and Loan Specialist that can ensure that their dream of homeownership is viable and that the transaction doesn't fall apart.
Because of recent events, credit and lending standards are tightening. What should our clients know and can they do anything to help them prepare for the loan process?
As you probably know, I regularly invest in my business to make sure I have the best tools and systems available to serve your client's needs. One of the major steps I've taken is earning the Certified Mortgage Planning Specialist (CMPS) designation. As a CMPS, I have gone through rigorous training and testing in order to hone my skills in helping your clients utilize their mortgage as a tool to build wealth. Additionally, Aloha State Home Loans can analyze your client's credit and give them a detailed report of the actions that can be taken to increase your client's credit score. ALL AT NO CHARGE. I've already made the investment in this service to serve our clients because I believe it is important that they receive a level of service unlike most would expect. We build relationships for the long run, not just to provide a "transaction" one time service. So although some of your clients may not have a need for a home loan at this time, I still would welcome them to take advantage of the investment I've made and I'll sit down with them and go over personalized instructions for helping them to improve their credit score-even if it's already great!
Thank you to Kim from Aloha State Home Loans for your insight and the assistance you provide our clients and we would welcome the opportunity to have you back to our Blog again soon.

Please visit our website for more information and to search the Maui MLS at:

http://www.fineislandproperties.com/

Aloha, Gina Duncan, R (S)