Found 5 blog entries for January 2019.
As LUVA Real Estate wrote in a prior post, a vexing issue faces Hawaii County: 88,000 homes are currently using cesspools, which at one point decades ago, was a useful way to handle sewage without having to build expensive wastewater treatment plants outside of the main cities on the island. However, now with the population growing and scientific findings that the raw sewage can have a negative impact on the environment, it is time to get cesspools converted into septic tanks.
There has been a movement to use point of sale to get sellers to put in septic tanks before they can sell the property, but at the rate of home turnover, it would take decades to solve the problem. The Legislature is examining the creation of a working group within the Department…
It’s January and this is the time of year when pundits make predictions for the year ahead. Well, not being a pundit, but knowing a thing or two about the local housing market and keeping our fingers on the financial markets, LUVA Real Estate would like to share our crystal ball with you.
Buyers Head to the Condo Market
As we mentioned last fall, West Hawaii real estate prices plunged after the eruption, but started to pick up in November and December as buyers on the fence through the summer and early fall saw that the island was not going to sink or tip over and that real estate was still a great investment on Hawaii Island.
However, the single family market in North Kona has been slowing down and in December prices fell year over year 5%. This…
With months of wrangling behind us and the dust now settling, the County of Hawaii has passed Bill 108 and it is now an ordinance, which lays the ground rules going forward for everyone who owns short term vacation rentals on Hawaii Island.
According to the ordinance, “short-term vacation rental” means a dwelling unit of which the owner or operator does not reside on the building site, that has no more than five bedrooms for rent on the building site, and is rented for a period of thirty consecutive days or less.
As a new buyer, you will only have the ability to create a short term vacation rental business if you either (a) buy a property in a resort, hotel, or commercial zone; or (b) buy a property in a neighborhood with residential or agricultural…