Home Buying in Kailua>Question Details

Mike Edwards, Home Buyer in Whistler, AL

I am planning on buying a house on the Kona coast. I am looking for 4 bedrooms near the ocean.

Asked by Mike Edwards, Whistler, AL Sun Oct 28, 2007

think i could project my revenue to be for nightly rentals?
Specifically - average night/week rate and number of nights/weeks I could expect the house to rent for per year.

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Beth Thoma Robinson R(B) BIC’s answer
Hi Mike,
Jane is right on track. When you say "Kona coast" are you thinking right in Kailua-Kona or up north along the Kohala Coast? Something on Alii Drive in Kona will rent for very different rates than a resort property at Hualalai or Mauna Kea or a house near the ocean at Puako. If the property you are looking at is not currently being rented, you would also have to count on a period of years to build up a clientele for it. Once you've narrowed down the property, your agent should have an idea of which companies do rental management in that area, and you could contact them for information on rates. Also be sure that if there are CC&Rs in the community where you are buying, that they permit nightly rentals.

And if you aren't doing the rental management yourself, be sure to consider that the rental companies take, on average, about half of the nightly rental income!
Good luck with your purchase.
Beth Thoma Robinson R(S)
1 vote Thank Flag Link Wed Dec 17, 2008
This is entirely off the subject. Mike would you happen to be from San Ramon, California? If so, I think you may be my long lost friend. If so, I look forward to hearing from you. Kathy McCarthy (Hanson)...
0 votes Thank Flag Link Mon Jun 30, 2008
Aloha Mike, I get this question a lot. The best source would be local property managers. Unfortunately the fear of being sued has caused them to be fearful of giving information out. Another source many of my clients use is VRBO.com. Many of the Kona rentals listed there not only have room rates but they have calendars. You can get a pretty good idea what the occupancy from looking at the listings there. Don't be afraid to e-mail those owners and tell the what you are doing. Most people like helping others and will be happy to share their experience with you. On my blog http://www.NorthKonaHomes.com, I have tips for buying and I'm currently working on tips for furnishing rentals. Happy shopping, Joyce Murphy, Broker Hawaiian Isle Real Estate LLC
0 votes Thank Flag Link Fri Nov 23, 2007
Aloha Mike, You probably need to narrow down the property, neighborhood or price range first. Then you could try to project revenue and rental probability on a case-by-case. The property you eventually become interested in may already be in a rental program - then you will already have a rental history to look at. Do you already have a particular property in mind?
Web Reference: http://www.janemireles.com/
0 votes Thank Flag Link Sun Oct 28, 2007
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