Home Buying in Kapolei>Question Details

Luke, Home Buyer in California, PA

is it best to buy a condo in the Ko Olina compound for occasional use or to buy a couple of timeshare ?

Asked by Luke, California, PA Wed Aug 29, 2007

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11
Mike Gallagher P.B. /Owner’s answer
Aloha Possible Home Buyer Ko'Olina:

I would not advise purchasing anywhere in Ko'Olina right now. The market is depressed and prices are headed South and have been for some time. If you simply want a vacation I would look at possible Complexes in Waikiki, Hawaii Kai but your think your best option for return on investment is Kailua..

If you want accurate Real Estate Reporting with Statistics go to my website at http://www.hawaiirealestatestatistics. com.

Aloha, Mike Gallagher
B.I.C. Abe Lee Realty
Ethics Complaints Review Committee Member, Honolulu Board of Realtors.
0 votes Thank Flag Link Thu Feb 11, 2010
Aloha:

I am Mike Gallagher Broker in Charge at RE/MAX Honolulu.

If you are going to buy any investment right now, look into Con-Hotels and make sure you can check their Occuanpany rates over the past few years. If the Hotel is full most of the time, chances are you can make money on your investment.

Stay away from Ko'Olina.

Purchase something on a high floor with a view only.

If you need targeted advice on this then email me at Mikeg@hawaii.rr.com

Much Aloha,
Mike G.
1 vote Thank Flag Link Fri May 16, 2008
Aloha Possible Home Buyer Ko'Olina:

I would not advise purchasing anywhere in Ko'Olina right now. The market is depressed and prices are headed South and have been for some time. If you simply want a vacation I would look at possible Complexes in Waikiki, Hawaii Kai but your think your best option for return on investment is Kailua..

If you want accurate Real Estate Reporting with Statistics go to my website at http://www.hawaiirealestatestatistics. com.

Aloha, Mike Gallagher
B.I.C. Abe Lee Realty
Ethics Complaints Review Committee Member, Honolulu Board of Realtors.
0 votes Thank Flag Link Thu Feb 11, 2010
We Finance condo-Hotels to 90% in Hawaii and California
Guild Mortgage
Raymond Dallou
(808) 883-8833 or (808) 292-7566
0 votes Thank Flag Link Thu Feb 11, 2010
It's all about needs. I feel that if you can afford to and want to be in an area with lush tropical settings, beautiful beaches and be able to personalize your vacation home then Ko Olina would be the place. If you travel to different area, and would like to use the timeshare exchange experience than a timeshare unit would be for you. Its all about what best suits the need of the individual client.
0 votes Thank Flag Link Fri Aug 7, 2009
IF you decide to buy a timeshare, first be sure to buy on the secondary/resale market. That's where you will find your best deal. Second, consider Marriott's Ko Olina Beach Club: awesome amenities, good brand name, nuff said!
0 votes Thank Flag Link Mon Jun 16, 2008
Timeshare will most will mostly be available for your use as a condo you have to kick out your tenant each time you want to use it and find a new tenant when you don't the answer is obvious. In a long run you will get your money back or even half by not renting and a lot less maintenance fee and less paperwork. if you want to use it more than couple of months per year get the condo. couple weeks a year go with the timeshare and get them from a resale office for a lot less.
0 votes Thank Flag Link Sat May 24, 2008
If purchase a townhouse at Ko Olina now for $550,000, 20% down at 6% APR, the mortgage payment will be $2638.

If you wait 2 years for a great deal, with a price of $500,000 and an APR of 7%, your payment will be$2661.

The rate is really important, so find your best property, make your best offer and if it is turned down, walk away. No harm.
0 votes Thank Flag Link Fri May 16, 2008
Aloha:

I am Broker In Charge at RE/MAX Honolulu.

I do not recommend any investments with my clients in Ko'Olina as the prices are falling through the floor for now.


If you want accurate Sales Data for Oahu and associated Neighborhoods, please visit my website at http://www.hawaiirealestatestatistics.com

You can email me directly at mikeg@hawaii.rr.com

Much Aloha,
Mike Gallagher
Broker in Charge
RE/MAX Honolulu
0 votes Thank Flag Link Tue May 13, 2008
Aloha Luke,

I don't know if you have been watching Ko Olina, but there are some real bargains here now. You may want to revisit this idea.
0 votes Thank Flag Link Fri May 2, 2008
As a Real Estate Professional who understands financing I would have to go with buy a Condo for occasional use. The reason being this is a tourist area. You can always use your property for your personal use and hire a good property manager to keep it full and making money for you while you are not using it yourself. A timeshare, though convenient, does not offer you the long term investment opportunity that buying a condo offers. It is a great time to be a buyer with an Agent not afraid to make any offers.
Web Reference: http://www.kaucountry.com
0 votes Thank Flag Link Fri Aug 31, 2007
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