Home Buying in Kailua>Question Details

Maverick510, Home Buyer in Kailua, HI

I would like to transition to Lanikai, Kailua in the next 5 years. My ideal scenario would be a flat piece of property in the 7,500 sq. ft. to

Asked by Maverick510, Kailua, HI Tue Feb 8, 2011

10,000 sq foot range. I expect to remodel but would like the existing property to be in sufficient condition to rent. It should be locally managed and yield at least $3,500 per month. I am in search of a Realtor that has experience and can seek out a good deal.

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Mike Gallagher ’s answer
Aloha:
My name is Mike Gallagher. Get the facts on Kailua statistics at http://www.hawaiirealestatestatistics.com. I have been tracking statistics in Kailua and Oahu since 2005.

Everyone wants to "transition" to Lanikai.

Flat lot will give you the middle of Lanikai and the much more expensive Beach Front properties. Bring your check book. It's going to cost you.

Be prepared. Check my "Odds of Selling" by price range for Kailua on my website. It will provide you with Negotiation Power.

Call me for more questions on Lanikai

Mike Gallagher, Broker in Charge, Abe Lee Realty
Ethics Complaints Review Committee Member, Honolulu Board of Realtors

mikeg@hawaii.rr.com 808-384-9015
0 votes Thank Flag Link Thu Mar 31, 2011
Aloha. You have made a wonderful choice in seeking property in Lanikai. As a resident of Lanikai and a Realtor, I am very familiar with the available properties and keep my eye on the market to spot new opportunities quickly. There are a lot of very good options currently available that would suit your needs. You did not mention whether your budget would allow for oceanfront or if you prefer to walk to the beach, nor did you mention size of house. To get a level lot, you will be limited to the makai side of Aalapapa, the inside streets between Aalapapa and Mokulua and Mokulua Dr. Rents in the neighborhood would definitely support the income level you desire.

Our company manages several properties in the Kailua/Lanikai area and are well-positioned to assist you. You can visit our website to learn about the company, see the properties that we manage, and search for listings that interest you. Please take a look and contact me to assist you in your search.
Web Reference: http://www.elitepacific.com
0 votes Thank Flag Link Tue Feb 8, 2011
Great location choice! As you already know, Lanikai is a very desirable and exclusive location. This location is about as good as it gets when it comes to the essence of Hawai'i living. As far as real estate value stability, Lanikai has a history of value retention. You will never have a problem attracting a suitably qualified tenant for your property. Since you have a desire to have a level lot, you will mainly want to concentrate your search along and between the main roads that loop Lanikai (Mokulua Drive and Aalapapa Drive). Size, condition and location will determine the amount of supplemental income you can expect from your investment but you might be pleasantly surprised what you can rent your property for on a month to month basis.

If your goal is to purchase in the next 5 years, probably the best thing to do right now is keep an eye on which properties come on the market and start familiarizing yourself with not only what a particular property is listed for, but what that property eventually sells for. Determine if your budget will allow for oceanfront or if it makes more sense to be a block from the beach. If you are able, spend some time in the neighborhood and target homes that you might be interested in (whether they are listed for sale of not). Consider also whether you would like to target a property with the intention of using creative or traditional financing (we can help you research which properties might be available for creative financing).

My company has the ability to represent and counsel you with your purchase, as well as property manage your investment. http://www.oahurealtors.net
0 votes Thank Flag Link Tue Feb 8, 2011
I would be glad to help you out. We do property management and sales. The best thing to do now is to get well acquainted with Lanikai properties. The market in 5 years will be different. So keeping your eye on certain properties you like now will help when buying and leasing later. Let me know if you would like updates on movement in Lanikai.
0 votes Thank Flag Link Tue Feb 8, 2011
Lanikai is a great area, currently there is an amazing vacant property for ~$5,000,000 with over 100 ft. of ocean front ready to build you dream cottage on.

Here is a google map search that you can use to search for property of any price. http://www.TheOahuAgent.idxco.com/idx/7373/mapSearch.php

Aloha,
David Nash
Web Reference: http://www.TheOahuAgent.com
0 votes Thank Flag Link Tue Feb 8, 2011
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