When a property is listed as Fractional ownership, is the cost per owner the amount shown on the listing, or is it 1/6 this amount?

Asked by lenzoil, Princeville, HI Wed May 22, 2013

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6
Kathleen Lui…, Agent, Princeville, HI
Mon Dec 30, 2013
Usually the sale price listed for a fractional is for that fraction (2 months, four months, whatever is specified in that listing). The monthly or annual costs - for taxes, insurance, association fees, etc. - are usually listed as the amount for the fraction, but sometimes the agent will enter these for the full ownership instead of the fraction. It's best to contact a good local agent to check all the information for you if your really interested in any listing. Sometimes data in a listing can be wrong or needs updating.

If you want more information email me at kathleen.luiten@hawaiimoves.com or call/text me at (808) 346-3081.
0 votes
Nathan Smith, Agent, Princeville, HI
Sat Jun 15, 2013
Most of the time the cost you see for the HOA (Homeowners Association) is just for the condominium complex HOA. Most fractional are going to have their own internal HOA fee which pays for the condo HOA fee but also thinks like utilities, taxes, content insurance, deferred maintenance etc. What I have seen is most of those running around $4000-$5000/yr for a 2 month segment. Each fractional will differ but it usually is all the costs associated with owning and maintaining the home or condo per year divided 6 ways. I hope this helps.
0 votes
Russell Berg…, , Princeville, HI
Wed May 22, 2013
I have lived in Princeville for 12 years, and these are definitely getting more popular. There's about 14 listed (5 of which are contingent). I would agree with the previous answers, but you have to do your diligence in buying anything.

I recently had a property in escrow (bank owned "as-is, where is") in Oregon. I flew there to close the deal only to find that the listing square footage is 900 sf more than the actual square footage. This was over a month ago, but even today the listing still shows the wrong sf!

Best to have an agent on your side to to look out for your interests.

If you see one that catches your eye, contact a local agent to do some home work for you!
0 votes
Joseph Gill, Agent, Princeville, HI
Wed May 22, 2013
If the listing states a monthly due of $600 then you would pay that for your 2 months. If the listing shows the taxes separately then you would pay a 1/6th of that. You only pay for the time you use. The way an agent puts these figures on a listing might be a little different from one another. It's best to contact an agent and ask.
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Frank Diaz, Agent, Honolulu, HI
Wed May 22, 2013
It is the amount shown if it is listed correctly. The price is your share.
There may be other shared costs, such as taxes, insurance, maintenance fees, and so on.
0 votes
Richard T. D…, Agent, Kihei, HI
Wed May 22, 2013
In all the listings I have seen it is the cost of the fraction you are buying or cost per owner. FYI--although there are typically 6 fractions, it can be fewer than 6 but not more.
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