I've been thinking about buying a vacation rental property in Kailua, Oahu and I was wondering what that entails.

Asked by Lane.chiang, Kailua, HI Sun Jul 18, 2010

Do I need to set up an LLC, would it be a traditional loan, how would I do my taxes(I already own a home.) I would also love to meet the right real estate agent who knows the Kailua area because I don't know anything about this. Thanks a lot!

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David E. Buck, Agent, Honolulu, HI
Fri Nov 5, 2010
Just be very careful that the place you're considering buying is a "legal" vacation rental? The majority of them here aren't & it will be interesting to see if where the city goes with enforcement. Let me know if I can help. Check out the recent link published in our local paper on the topic
1 vote
Tanya Hawkins, Agent, O Fallon, IL
Mon Dec 27, 2010
Aloha Lane,

As a resident of Kailua and former vacation property manager, I would be happy to help you with everything from finding the right property to helping you find the right marketing and management outlet for your property to maximize the return on your investment.

I am not sure if you have found your property in Kailua yet, but there is a fabulous legal rental that is beachfront that just came on the market. I would love to share more with you regarding this listing. Please e-mail me at tanyah@cbpacfic.com for more information.

I look forward to speaking with you.

Take care- Tanya
0 votes
Mike Gallagh…, Agent, Honolulu,, HI
Sun Aug 1, 2010

My name is Mike Gallagher and I live and work as an agent in Kailua. You are welcome to view my Kailua Real Estate Reports on my website at: http://www.hawaiirealestatestatistics.com

You can do an L.L.C. if you want to but you need to look at if this is the best avenue for you. You need research the Tax consequences and set up fees. In any case if you are Off Island Land Lord you should hire a Property Manager for a monthly fee to manage and advertise your investment.

Feel free to contact me at mikeg@hawaii.rr.com or 808-384-9015

I wish you much Aloha,
Mike Gallagher, Broker in Charge, Abe Lee Realty
Ethics Complaints Review Committee Member, Honolulu Board of Realtors
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