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Whether you're a first time Buyer, a Seasoned Investor, or looking for a Vacation Home, the Hamakua Coast of the Big Island might be your ideal locations. HamakuaCoast.com is your 'one stop shop' for information, resources and answers needed to make your purchase go smoothly. Check out the information, links and FAQ's below: Lending Tools and Mortgage Information
Title Companies Escrow and Title companies in Hawaii provide title search and indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. Title Insurance is meant to protect an owner's or a lender's financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy. In Hawaii, Title and Escrow companies also issue title reports and facilitate documentation of real estate transactions. In Hawaii, it is the Buyer’s privilege to select which Escrow and Title company will handle your Escrow paperwork Following are links to several Title and Escrow Companies licensed and operating in Hawaii:
Tax Information
Please note: Hamakua Coast Realty, Inc. is not a Tax Consultancy. All Buyers and Sellers should consult with their own Legal and Tax Professionals for advice prior to any Real Estate investment to insure compliance with and understanding of all relevant Local, State and Federal Laws. The links above are provided only as informational assistance. Links to County and State web sites
Utilities The main sources for power, phone, propane, cable and water services in neighborhoods and towns around the Big Island are:
Please note: Many properties in Hamakua are 'off - grid', using wind, solar and/or gas generators for power, satellite dishes for television and internet access and use a Catchment system for water. While on the surface those alternative systems may sound scary, most off-grid homes in Hawaii are set up to provide every amenity and comfort of a home with public utilities while creating a smaller carbon footprint. FAQ's Q: I have a great relationship with my bank on the mainland, why can't I just get a loan from them to purchase a home on the Big Island? A. Due to the mortgage crisis and multiple issues of servicing a loan in Hawaii, the Department of Commerce and Consumer Affairs (DCCA) has determined that any bank, mortgage broker or institution providing a loan for the purpose of purchasing real estate, must be licensed through the DCCA as a Hawaii Mortgage Broker. Q. How do we find a good Hawaii Mortgage Broker and determine what we qualify for in Hawaii? A. There are several sources for information on Hawaii licensed Mortgage Brokers. Here's one Directory and a list of BBB accredited Mortgage Brokers in Hawaii. However, with a couple of exceptions, most of the Brokers listed in these directories are on Oahu and the neighbor islands. While Hamakua Coast Realty makes no claims or guarantees regarding any lenders' abilities, our clients have enjoyed working with the following Mortgage Professionals and given them high ratings: Joy Gillette Hawaii Mortgage Planning Karen Kline Home Loans, LLC This e-mail address is being protected from spambots. You need JavaScript enabled to view it In addition, most of the local Banks and Credit Unions have Real Estate Lending Programs with competitive rates. Q: I heard you can't own land in Hawaii-that everything belongs to the State and has to be leased. Is that true? A. No, that information is false. While there are several thousand acres of 'lease hold' land, there are numerous properties and thousands of other acres that are 'fee simple' and can be owned outright. Q. Why are so many homes 'single wall construction' and what does that mean? A. Single wall construction is just what it sounds like: the outside and inside of the walls are the opposite sides of the same board or building material. As to why so many of the homes are built single wall in Hawaii there are some good reasons: First and foremost, the weather is mild year round. There's no real need for insulation from the elements, just enough to enclose your stuff and keep you dry in the rain and shade you from the sun. Second would be the expense. Most building materials have to be shipped to the island which increases the cost (plywood can cost $50 per sheet). There's no need for the extra expense of doubling the materials so why do it? Lastly, with the temperate climate, termites, ants, and other pests flourish and during rainy periods, so can mold. Prior to the advent of chemical advances, single wall construction gave homeowners the ability to 'track and attack' any invaders and wipe out mold before it became a problem. That convenience, the cost savings and the old style charm of the plantation era homes has made single wall construction very popular on the Big Island. However many newer homes are being built with double wall construction. Q. Why did my agent at Hamakua Coast Realty, Inc. insist that I get a home inspection? A. Buying a home is one of the most expensive investments most people make. The agents at Hamakua Coast Realty want their clients to know exactly what they are buying and a good home inspection can uncover previously unknown problems. Who wants to buy a house only to discover after move in that the new paint was covering a stain from a leaky roof? Issues identified during a home inspection may not need immediate repair but identifying potential or major problems prior to closing is imperative. There are many sources to find Hawaii licensed Home Inspectors. Here are links for three local inspection companies that our clients have had good experiences with:
Q. Ok, I want to buy land and build. How do I get a building permit? A. The County of Hawaii has a process for granting building permits that can be frustrating and time consuming. Before building, you should read through the regulations and be aware of what to expect and the steps you'll need to follow as an Owner/Builder. The Hawaii County Building Permits page should answer all your questions about building in Hawaii. Q. I have a lot of questions about ethic diversity on the Big Island and a lot of other population related questions. Where can I find those answers? A. The Hilo Tribune Herald published an East Side of Hawaii FAQ book in September, 2011 that covers many of those questions. It comes up as a .pdf so you may have to download a free Adobe reader to access. Can't find what you're looking for or have more questions? Check out the FAQs on our Moving Resources page, This e-mail address is being protected from spambots. You need JavaScript enabled to view it or just call (808) 775-1422 and we'll do our best to help. |
