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Oahu among 10 best places to buy vacation home

By Erika Engle

POSTED:
LAST UPDATED: 10:47 a.m. HST, Aug 08, 2013



Oahu is the tenth-best U.S. market in which to buy a vacation home, according to VacationHomeRentals.com.

The site’s top-10 list is based on the most popular rental destinations for the month of June, and while it says higher property values make Oahu pricier for buyers, it notes that Oahu is sought-after year-round by tourists.

One listing on the site for a two-bedroom, two-bathroom beachfront unit in Waikiki rents for $2,100 a week.

Year-round attractiveness due to Walt Disney World earned Kissimmee, Fla. the No. 1 spot on the list, with vacation rentals going for $2,800 to $4,100 a week.

The Florida destination was followed by Cape Cod, Mass.; the Poconos in Pa.; Outer Banks, No. Carolina; Destin, Fla.; Myrtle Beach, So. Carolina; Ocean City, Md., Panama City Beach, Fla., Galveston, Texas, and at No. 10, Oahu.

http://www.vacationhomerentals.com/







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Grimbold wrote:
Ridiculous choice. Only the rich can afford to buy a vacation home in Hawaii.
on August 8,2013 | 08:38AM
busterb wrote:
True but who would want a vacation home in the backroads of Mississippi?
on August 8,2013 | 09:59AM
AlanR wrote:
Aren't the rich the only people who buy vacation homes anywhere?
on August 8,2013 | 06:31PM
Sunny wrote:
The rich will be purchasing many of the planned high rise units in Kakaako!
on August 8,2013 | 09:35AM
Kate53 wrote:
Yeah. They should limit the number of investor units and require 90% or more of the units be owner occupied. Prices wouldn't be as inflated if investors were limited; they have deeper pockets and usually cause the prices to rise too high.
on August 8,2013 | 10:08AM
tiki886 wrote:
And how did you come to that conclusion?
on August 8,2013 | 10:25AM
sailfish1 wrote:
The developers are building these condos for rich foreigners, rich mainland people, and rich Hawaii people who intend to rent them out. If not for that market, the developers would not be building them.
on August 8,2013 | 02:19PM
tiki886 wrote:
We shall see. As soon as the C&C of Honolulu comes up to compliance as Maui County has done. The real property tax website should show the mailing address of the property tax bill for any particular unit. Even if the owner uses a POBox you will be able to see the zip code.
on August 8,2013 | 07:51PM
false wrote:
Wow. We trail Galveston by only one place, lol
on August 8,2013 | 09:36AM
cojef wrote:
Lived in Houston 3 plus years and visited Galveston many times on day trips. Nothing much offered except for seafood restaurants. Been visiting Waikiki since 2006 and stay for month each time at the Ilikai, lagoon side condo, and enjoyed the weekly fireworks show puton by next door neighbor Hilton. Understand the Hilton will add another fireworks show midweek.
on August 8,2013 | 10:01AM
tiki886 wrote:
Shouldn't you buy a unit at the Ilikai, use it one month out of the year and put it in the rental pool and rent it out for 11 months of the year?
on August 8,2013 | 10:18AM
Huivaa wrote:
This is terrible news for many of Oahu’s residential-zone communities. Unfortunately, more and more out-of-state investors are buying homes in local neighborhoods and converting them into illegal vacation rentals. These buyers can out bid owner-occupied local buyers because they rent out the property at hotel room rates. This dilemma drives up home market prices and has contributed in making Oahu’s housing cost the highest in the nation! When is the City going to get their act together and enforce their laws?
on August 8,2013 | 11:05AM
MakaniKai wrote:
@Huivaa - "When is the City going to get their act together and enforce their laws?" NEVAH! Cuz if it was important to preserve the quality of life for the average local family we would have no illegal vacations rentals, housing would be financially within reach, gas prices in line with the mainland, etc………..you get da picture.
on August 8,2013 | 01:52PM
tiki886 wrote:
This is America. You can't ban any American citizen from buying property on American soil.
on August 8,2013 | 07:53PM
South76 wrote:
Look at what agency is approving all the construction permit; pretty much anyone who have applied for construction permit has gotten one without proposing how to deal with infrastructures--sewers, water system, roads, schools, etc. Sand Island Sewage treatment plant is at its capacity; guess who will be billed to fix the sewers. There is no proposed schools around all the buildings coming up. Where is the extra needed water coming from?
on August 8,2013 | 11:26AM
yamaco wrote:
We may be number ten for the tourists but we're number one for the homeless and as an added bonus the homeless get free airfare back home.
on August 8,2013 | 01:00PM
tiki886 wrote:
We are also ichiban in the WORST place to do business in the whole nation!
on August 8,2013 | 07:55PM
Maneki_Neko wrote:
This can be handled with an intelligent property tax adjustment that beats on investor units like a red headed government mule. Crank a new classification for these units with a really stiff rate to temper the inflationary aspect of a flood of offshore money coming into our small market.
on August 8,2013 | 02:12PM
tiki886 wrote:
This is America. You can't ban any American citizen from buying property on American soil.
on August 8,2013 | 07:56PM
palani wrote:
$2,100 per week for a Waikiki beachfront is dirt cheap. I'm familiar with many houses on the Jersey shore going for 4-5 times that rate.
on August 8,2013 | 02:39PM
nodaddynotthebelt wrote:
What really disturbs me is that senior citizens are gouged by these high property taxes while affluent home owners get pretty much the same rate regardless of income level. The city and county should balance the property taxes to take into account the tax payer's income level and whether they are senior citizens living on fixed income or not. For many of these senior citizens the home is their sole source of income in the form of rents. And these rents are taxed to the gill through excise tax and income taxes. Another thing that the city and county should do is raise the taxes on foreign home owners such as those from Japan and China. Many condos and houses here are owned by these foreign nationals who only live in their Hawaii homes for part of the year. I know of some condos in Ala Moana that are vacant almost most of the year. This while most residents can barely pay their rent or cannot even afford to find a place to live. It is just absurd that foreigners can own properties here while those who were born here cannot even purchase a home due to the escalated prices. Why? Because they are priced out of the market by rich foreign nationals and affluent mainland residents who can afford a second home on the islands for vacation use.A special class of property tax should be levied on these non full-time residents who own these luxury homes.
on August 8,2013 | 03:39PM
Anonymous wrote:
This is America. You can't ban any American citizen from buying property on American soil.
on August 8,2013 | 07:56PM
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