Real Estate

Don’t Sell Your Maui Home, Rent It

December 4, 2015, 11:06 AM HST
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Photo source: wikimedia.org/wikipedia/commons/2/27/Maui,_Hawaii_beach.jpg

Photo source: wikimedia.org/wikipedia/commons/2/27/Maui,_Hawaii_beach.jpg

Obviously, there are many different-minded folks who own residential and commercial properties on Maui. You could be a “lifer,” a second- or fourth-generation Maui resident, a brand-spanking-new Maui property owner, or someone who just loves Maui (and owns property here for personal or professional reasons).

No matter who you are, you obviously adore the Island of Maui for one reason or another. Alright, so thats’s established. So, read through this short article and consider the following ideas and benefits.

If you own a precious piece of Maui land and are pondering the idea of selling it, please consider renting it instead. No, not as a vacation rental—as a residential rental. At the very least, this idea will be a valuable long-term investment for you.

Photo source: wikimedia.org/wikipedia/commons/thumb/6/6e/1885_De_Witt_Alexander_Wall_Map_of_Maui,_Hawaii_-_Geographicus_-_Maui-lo-1885.jpg/1280px-1885_De_Witt_Alexander_Wall_Map_of_Maui,_Hawaii_-_Geographicus_-_Maui-lo-1885.jpg

Image source: wikimedia.org/wikipedia/commons/thumb/6/6e/1885_De_Witt_Alexander_Wall_Map_of_Maui,_Hawaii_-_Geographicus_-_Maui-lo-1885.jpg/1280px-1885_De_Witt_Alexander_Wall_Map_of_Maui,_Hawaii_-_Geographicus_-_Maui-lo-1885.jpg

The Valley Isle is the most amazing island in the Hawaiian archipelago for so many reasons. First and foremost, Maui is not available to all—we have all seen and experienced this, and know it well. Maui is precious and abundant in so many natural ways—it’s magnetic, magical, spiritual, gorgeous, rich in culture and self-sustaining.

The Island of Maui is full of mana (life-force energy) drawn from the ‘āina and makai. Here, on Maui, we fully appreciate and embody Maui’s Hawaiian culture, it’s history, immigrant lineage, local resident population and the impact of all visitors.

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Maui is a self-appreciating open door for so many people. This is a huge reason why we must always support local residency and a balanced economy.

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Two Possible Scenarios

  1. You own a residential property on Maui. You may have once considered it to be your future Shangri-La or otherwise part-time abode. Ok, cool. You’re over it now for whatever reason and it’s time to move on. Do you put it for sale? Or, do you find some awesome long-term renters who will protect, care and love your property? Yes. that’s a good choice. You know why? Because this way, you’ll get your mortgage paid, add sustenance to the local economy and still have that Maui dream home there for you just in case.
  2. You have very close ties to the Island of Maui. You are from here or you have family property here. No matter whether you live here full-time or just visit sometimes, you have some deep roots that also include some valuable land. So, a question to you folks… Why would you ever sell your land? Hell-ooo? No matter what anyone offer’s to buy you out for, you would do way better choosing long-term renters. Know the value of what you have. Do not jump to sell.
Photo source: wikimedia.org/wikipedia/commons/f/f8/Hana_Belt_Road,_Between_Haiku_and_Kaipahulu,_Hana_vicinity_(Maui_County,_Hawaii).jpg

Photo source: wikimedia.org/wikipedia/commons/f/f8/Hana_Belt_Road,_Between_Haiku_and_Kaipahulu,_Hana_vicinity_(Maui_County,_Hawaii).jpg

There is no doubt—Maui property will continue to increase in value for years to come. That is why everyone is buying it up.

For over 20 consecutive years, Maui has been rated “Best Island to Visit” by the Conde Nast publication. Not for nothing, this definitely contributes to driving traffic to Maui; otherwise supporting new visitors, new residential buyers and the long-term commercial investors.

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In conclusion, if you own property on Maui, always think about the long-term effects to which you contribute. If you choose to rent your property to Maui residents, you are definitely supporting a strong local economy.

For those of you who are more keen to supporting the private vacation rental market on websites like VRBO or Airbnb, good for you. You’re probably gainfully paying your mortgage off as a “smart investor.” But, guess what? As a property owner renting to long-term to residents, you’re still being a smart investor, but also supporting your local community, which people will notice and appreciate. Just saying…

Mahalo for reading Maui Now’s “Don’t Sell You Maui Home, Rent It” article…

Comments, opinions and “hearsays” are more than welcome! Are you a long-term Maui resident? What do you think about Maui’s current residential real estate market? Please leave your comments in the section below…

 

 

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