Do you dream of owning property on Maui?
Your dream is achievable with the right information and Maui luxury real estate agents to help.
Here’s what you should keep in mind about Maui real estate:
Maui is Different than the Mainland
Buying a home on an island 4,000 miles away is a little different than buying a home down the street! To be successful, you’ll need a Maui real estate agent. Your agent can inform you of the market, take you on virtual showings, work within the Maui time zone to get more accomplished, and help you finance through Hawaiian banks.
There are Lots of Options! Choose the Right Location
Where you buy not only affects the home’s current and future value, but it also affects your lifestyle. Your agent will be able to conduct a more targeted home search if you outline your preferences in neighborhoods and nearby amenities. Here’s a checklist of items you should consider and communicate to your real estate agent.
- Urban, suburban or rural
- Proximity to the airport
- Proximity to restaurants and retail
- Health care facilities
- Parks and recreation
- Length of time you plan to live in the home
Are you looking for an ocean oasis, or a more country feel? What about land with acres to build or use however you want? Maui has multiple desirable neighborhoods. Get a feel for each neighborhood by checking out the area pages at the bottom of our home page.
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 should allow 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.
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.
Financing
You’ll want to do your financing with a Hawaiian bank rather than a bank on the mainland. Getting pre-qualified is the first step in owning a property in Hawaii if it is not a cash deal.
You’ll want to:
- Contact your agent and they can connect you with several lenders, mortgage specialist to start the pre-qualification process.
- Fill out a loan application, get pre-qualified and eventually pre-approved
- 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.
Purchase Maui Luxury Real Estate with the Maui Luxury Team!
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 purchase Maui real estate, contact Robyn and Mark today!