Here’s the truth about buying a vacation rental on the island right now.
Is it a smart call to buy a vacation rental on the island right now? At the moment, nearly all of our Airbnb-style vacation rentals and condominiums are vacant because the state of Hawaii is requiring a 14-day quarantine period, which has made it particularly difficult to come to the island. That being said, all of these properties are open and available for showings. Additionally, we’re seeing a bunch of new listings hit the market as property owners who are unable to generate any rental revenue are forced to become sellers.
As a buyer, this presents a unique opportunity—perhaps one greater than we’ve ever had before. We are still able to access units, there’s a ton of inventory to choose from, and there’s downward pressure on the market.
If you’ve been thinking about buying a second home or a rentable resort property, move now. But what if you’re unable to get here and make the purchase due to quarantine measures? Though unprecedented challenges abound, you do have options; what we’ve been able to do for several of our clients is create a comprehensive remote viewing experience.
We’ll create walk-through videos, get great aerial footage of the property, and supplement it all with Google Maps and other data. We’re also able to FaceTime buyers to answer any questions or showcase the property in real time.
Realistically, if you’re thinking about buying a property in Maui, you’ve likely already been here and know what part of the island you like. We’ll hone in on that area, and I’ll be your boots on the ground inspecting properties and relaying as much information as you need.
I’ve always been committed to sharing with clients what I like and dislike about a property. My whole goal when selling property sight unseen—something I’ve done countless times—is to provide an exhaustive list of positives and negatives so that buyers can make an informed decision.
You may think it’s wise to wait until the quarantine is over, but remember this: If you can see the light at the end of the tunnel, then so can the sellers; they’ll be less flexible and less willing to negotiate if you wait. Don’t be overcautious and lose your advantage as a result.
If you’re willing to trust me and let me help you find the right property, this could be one of the best investments you make. Feel free to reach out via phone or email today.