What I Wish I Knew Before Buying a Condo in Hawaii

Everyone knows that housing in Hawaii is expensive. I'm thankful that I was able to buy a condo in Honolulu several years ago. And yes, it's been great to not have to commute to work. However, as my living situation has changed from just me to a family of four, I'm not sure how we move from where we are to where we want to be. Where exactly are we supposed to go? A house on the west side? Another condo in Town? So I just wanted to put this out there because I wish I would have heard something like this when I first moved to Town. It wouldn't have deterred me from buying a condo, but it would have been something I would have planned for better.

Intro - 0:00
What's It Like to First Buy a Place in Honolulu - 0:48
Then Things Start to Change - 1:50
So You Want to Move Out of a Condo, But How? - 2:36
Moving To Another Condo? - 5:27
I Wish Someone Had Told Me This Earlier - 7:23

Filmed using the Insta360 Ace Pro.

#hellofromhawaii
#hawaiilife
#hawaiicondo

[davidwelty]

High rise condos are a trap in every city in America as it relates to increasing HOA fees. High rise buildings are expensive to maintain.

[smgelc]

I've lived on Oahu all my life minus my 4 years on the mainland for college. Returned to buy a small condo that needed fixing every week. But then I ended up renting it at a negative hoping i could live there later. This was in the early 90s. Things changed, and I ended up with renting a condo in Waikiki and loved the setting and proximity to everything. But then we had kids and too many stories of babies falling out of buildings. We bought a fixer upper in Manoa which seemed like a dream, but single wall construction was always in disrepair. But the key to this is that my wife and I did better, we earned more, our investments did better and now we live in a dream home. The lesson is similar to that of minimum wage. Yes, you want a living wage, but if you get too settled, then everything passes you by and things get expensive around you. Without motivation to do better, you are stuck. I know this may sound elitist, but it is human nature to want more and it can happen. I'm sure YouTube income helps as your side gig. BTW, all our housing purchases ended up with seeing an opportunity to rent a bifurcated unit. Rent helps big time. Lastly, if you are in a condo, join the board. I have worked with condos for over 20 years and I find too many board members are retirees that kick the can on maintenance. Increase maintenance fees gradually to avoid special assessments and use the 20 year replacement schedule as a map for savings.

[thechosenone]

this "condo trap" doesn't only apply to Condos, it applies to Townhome, and houses as well, the market overall is just too expensive

[wendelld]

At least you made the first move with your condo buy. Gotta start somewhere. After getting married in 1978 and paying $135.00/month rent for a two bedroom walkup in Moiliili, we bought a 1 Bedroom condo near Punahou and paying $900.00/month mortgage. Eventually upgraded to our present home in Village Park where we have lived for the past 40 years.

[CT]

My wife and I bought our first townhome back in 2013. We both thought it would be our "one-and-done" home purchase that we would grow old and die in, and that single-family home ownership would never be within reach. But in the 8 or so years that we owned our place, the value of our townhouse appreciated +$250K over what we originally paid for it, and it just made sense to sell. We ended up moving out west where homes are more affordable, but we finally ended up with a great single-family home.

[AH-iosb]

It’s is extremely hard to live here in Hawaii. My husband and I raised our two boys in our parent’s house living out of just one bedroom. Eventually saved up and upgraded to a 3 bedroom where we all still lived out of one bedroom hahaha. Looking back my husband and I just laugh cause what seemed so shameful at the time is what kept us grounded and always grateful for the things that mean the most to us which are family, good health and our time. Now that are boys are grown and out of the house there’s not a day they don’t come over or call. Now they’re waiting for use to move into their homes just to do it all over again and there’s no shame in that! What a blessing!
Keep it simple.

[thomaswong]

After I bought our two bedroom condo was thinking of moving to mililani as kids getting bigger. However commute was not good. We just kept condo. Kids manage. Space was an issue but also paid private school tuition. Somehow we survived

[jenanalleman]

Also, if you get an older place, factor in that there will be repairs needed on the regular, and some of those repairs can be very costly. As with a lot of things, you'll either pay on the front end or the back end, but you'll end up paying one way or another.

[EB-tild]

Thanks for making this video. I moved here 2 years ago and have been renting a Kaka’ako condo ever since. Coming here I was brimming with happiness and optimism on starting a life here. It didn’t take long for me to realize that all of my future goals (starting a family, homeownership or condo ownership) suddenly became so much more difficult to achieve by moving here. High cost of living, high housing prices and costs, private school tuition, distance from any family…and those are just a few hurdles to face. Needless to say I’m now anxious to get back to the mainland where things that mattered are more realistically attainable. 😂

[sharonknorr]

So, a perspective from someone who lived on Oahu in the 70's and now lives in Colorado. Our daughter bought this 1980's modular home set on a concrete foundation on foreclosure a about 15 years ago for $224, 000. It is now assessed at $850, 000!!! Yes, we have a nice location in the foothills near a lake, but that is crazy - consider the property taxes that doubled this year. Makes no sense. We could sell it, but couldn't buy a comparable property that could house a multi-generational family including retired folks on a fixed income, so yes, we have equity, but what does that really mean? Housing in this country, and many others, is just nonsensical. We don't have a lot of income, but are managing to hang on due to the original price and a refinanced mortgage when the rates were low a few years ago. I don't know how young families without a really healthy income actually get into the market now without sacrificing everything else. We raised our kids in rural NY in a 150 yr. old house with no insulation, one bathroom, ancient heating, no AC, a kitchen with ice-cold floors in the winter. But we managed. In Hawaii, just before kids, we lived in single-walled plantation styled homes with no AC, small rooms and yards, in Waipahu and Wahiawa, my husband working at Pearl and me at the hospital in Wahiawa. But I still miss that so much (Hawaii). Unfortunately, I fear those houses are now ridiculously priced and unaffordable for young families. Sorry, this is so rambling. You really have to do your research these days and consider the value of the home, the community, the schools, the commute and the ohana that you can build where you live. Good luck with your decisions. It is not easy.

[masterep]

I hate to tell you this, but the same topic has been discussed over and over again since the 1970s when Honolulu started building high-rises. It's nothing new and that's how we got Mililani, Hawaii kai and Ewa town houses. Somehow you'll survive and figure out your own path. And once the children are out of the house, then you go back to condo life again.

[kauaiboyo]

With starting a family in mind, my main priority was to find a house where there were good schools. I did have 2 hrs of daily commute.

[troythepinoy]

Thanks Chris I’m planning on buying there next year so this was great info

[dlasti]

My friend's HOA went from 250 per month to 500 per month, and she lives in an old condo building. Other places are even much worse. Most new communities being built now, especially on the west side, all have HOAs and maintenance fees. Buy land and building on your own is best, but costly here in Hawaii. This is another reason why I chose to move to the mainland, to look for land and build my own home with no HOA or maintenance dues.

[utubular]

Condo maintenance fees vary with the age of the building and the amenities it has. All elevators need to be eventually replaced which is one of the bigger costs. Great amenities also mean higher fees to maintain all of it. Moved from a house on the west side to a Kakaako condo because the commute was just insane and a quality of life killer.

[jon]

Owning a home to live in should never be seen as an investment strategy to build wealth but as a means to have the most autonomy one can have within their domestic life. I spoke to my former boss about this and each type of property offers varying levels of autonomy. Anything with an association that charges a fee and imposes certain rules have lower levels of autonomy while owning a house in an association free neighborhood offers you the most autonomy. When rates and prices were low and I could afford my own condo unit I was window shopping around and noticed that newer condos were expensive but had lower HOA fees than older buildings that were cheaper. Sometimes the monthly payments would add up to the same amount between a nice new condo and an old run down one all because of the HOA fee. I spoke to several condo owners and that is one thing they have little to no control over when HOA fees go up.

[raytokumoto]

We are in the process of moving home after being away for a long time. As soon as we sell we’re moving back. Been keeping a close eye on the market in HNL/activity. Ty for making this video, good to hear it from a local.

[Kaiwaza]

I’ve lived in Honolulu my entire adult life..in my 60s now…never bought property here, always rented. The condo trap is real and prices are insane. And as far as Hawaii actually having enough forethought to PLAN housing around rail..which is at least 30 years late already, good luck with that, lol

[lublabs]

What a lot of young people are not told by their friends or family is that you shouldn’t rush into buying a house or condo. It’s a huge decision and you need to look at all aspects. People are fixated on having their own place but don’t think about the long term effects.

When we were ready we saved and got to the point where we could at least think about buying a house but I didn’t want something that only for my needs now but long term. Room for family, entertaining friends or even possibly an out of town guest. It was rough at first going from no mortgage to holy crap huge mortgage but eventually we adjusted. As we’ve become more established things are better.

The point is take your time and do your research. Think long term and don’t be short sighted.

[Epic_Squirrel]

Purchased at Park Lane Ala Moana. Love my unit and the location. Depending on the building and its board only speak for myself. Lived in high-rises most of my adult life and never had issues with HOA, dealt with a few Karen’s but that’s about it.