One Way to Purchase Hawaii Real Estate
by: 1SG(Ret) David Kucic, Hawaii Real Estate Agent
Serving the Schofield Barracks Hawaii, Pearl Harbor, Hickam Air Force Base, Wheeler Army Airfield, Tripler Army Medical Center and Fort Shafter Military Communities
Dont be intimidated if you are a first time homebuyer. Consider using your VA Loan Eligibility. Purchasing a condo, townhouse or single family in Hawaii is not difficult at all as long as you have a professional REALTOR(R) on your side. It can be done for very little or sometimes no out of pocket expenses.
•1) Find a REALTOR® to represent you. It doesn't cost you anything to have a buyer's agent because the person selling the home is responsible for paying the REALTOR® commission (have your agent explain the Buyers Representation Contract to you).
•2) Get with a loan officer to see how much you are qualified to purchase. There is no charge for them to do this "pre-qualification or pre-approval for you". Okay, so far you have not spent anything! After you get pre-qualified or pre-approved, start shopping around with other lenders and compare interest rates and fees between lenders.
•3) Your loan officer will tell you and your REALTOR® how much you are qualified to spend. Let your REALTOR® know what you are looking for as far as location, bedrooms, bathrooms, square footage, parking etc....Now your REALTOR® can begin to search from the thousands of listings that are available on the island of Oahu. When your REALTOR® finds properties for you he can email them to you so that you can view them.
•4) When you find a neighborhood and several homes that you are interested in, your REALTOR® will make appointments for you to see the properties in person. After you find the one that you want to buy, you will submit a "Deposit Receipt and Offer Acceptance" or DROA. It is an offer from you to the seller to buy his property. The seller will either accept, decline or counter-offer you. If your offer gets accepted, you will have to open an "escrow account".
•5) An escrow account is a neutral party that works for the buyer and the seller. They will collect reports, order documents and schedule appointments. In order to open this account you will normally have to put $1,000 into the account which will be given back to you later or used for your closing costs. The amount you put into the escrow account is dependent on several items and you REALTOR® can explain it in greater detail.
•6) There will now be documents to sign and papers to review. You will also have an opportunity to conduct a "C-51" property inspection. You can hire a professional inspector, you can do it yourself, you can have a friend do it or you can not do it all (not recommended to skip the inspection). The inspection costs approximately $175-$5000 depending on if it is a condo, townhouse or a single family house as well as the square footage. There will also be several documents to review and sign during this time as well as a termite inspection that will take place.
•7) Once all the paperwork is completed, you will go to the "closing". This is where you officially sign and complete the last bit of papers. After your property "records" at the bureau of conveyances you now own the property!
•8) Your first mortgage payment will normally be due in 30-45 days after closing.
Now that isn't too difficult is it? When you are ready to take that next big step, find a REALTOR and get started!
MILITARY BASES, POSTS AND FORTS ON OAHU, HAWAII AND POHAKALOA TRAINING AREA BIG ISLAND OF HAWAII
Schofield Barracks: Mililani, Wahiawa, Kapolei, Waipahu, Ewa Beach, Waipahu, Makakilo, Oahu, Hawaii Schofield Barracks and adjoining Wheeler Army Airfield are the 2nd Brigade, 3rd Brigade, Aviation Brigade, 45th Sustainment Brigade and the 8th Military Police Brigade. In addition, the 8th Theatre Sustainment Command, 65th Engineer Battalion, 25th Special Troops Battalion and the 556 Personell Service Battalion are also part of the Division team and play an integral role in the success of the Division.
There are also two Brigades that are stationed in other locations. The 1st Brigade is stationed at Ft. Lewis, Washington and the 4th Brigade is stationed at Ft. Richardson, Alaska.
The 25th Infantry Divison has proudly served in numerous wars and conflicts around the globe. The Soldiers that make up the division are currently deployed to several locations to include Iraq.
Pearl Harbor: Pearl City, Pearlridge, Aiea, Salt Lake, Honolulu, Waipahu, Oahu, Hawaii
Hickam Air Force Base: Pearl City, Pearlridge, Aiea, Salt Lake, Honolulu, Waipahu, Oahu, Hawaii
Marine Corps Base Kaneohe: Kaneohe, Kailua, Oahu, Hawaii
Camp H. M. Smith: Salt Lake, Moanalua, Honolulu, Aiea, Pearl City, Pearlridge, Oahu, Hawaii
Tripler Army Medical Center: Salt Lake, Moanalua, Honolulu, Aiea, Pearl City, Pearlridge, Oahu, Hawaii
Fort Shafter: Salt Lake, Moanalua, Honolulu, Aiea, Pearl City, Pearlridge, Oahu, Hawaii
Wheeler Army Airfield: Mililani, Wahiawa, Kapolei, Ewa Beach, Waipahu, Makakilo, Oahu, Hawaii
Helemano Military Reservation: Wailaua, Wahiawa, Mililani, Haleiwa, Oahu, Hawaii
Kahuku Training Area: Kahuku, Oahu, Hawaii
Kilauea Military Reservation: Hilo, Kona, Hawaii
Pohakuloa Training Area: Hilo, Kona, Hawaii
Makua Military Reservation: Waianae, Nanakuli, Makaha, Oahu, Hawaii
TEMPORARY LODGING FACILITIES FOR THE ARMY, NAVY, AIR FORCE, MARINE CORPS, COAST GUARD, RESERVISTS, NATIONAL GUARD, DOD CIVILIANS AND RETIREES ON OAHU, HAWAII
The Hale Koa Hotel on Waikiki Beach: Honolulu, H
The Inn at Schofield Barracks: Mililani, Wahiawa, Kapolei, Waipahu, Ewa Beach, Waipahu, Makakilo, Oahu, Hawaii
The Royal Alaka'i at Hickam Air Force Base
The Lodge at Kaneohe Bay and the Cottages at Kaneohe Bay
Navy Lodge Hawaii at Pearl HarborThe Beach Cottages at Kalaeloa (formerly Barbers Point NAS): Mililani, Wahiawa, Kapolei, Waipahu, Ewa Beach, Waipahu, Makakilo, Oahu, Hawaii
Tripler Army Medical Center Guest House
Bellows Air Force Station Beach Cabins
GOLF COURSES ON OAHU, HAWAII FOR ARMY, NAVY, AIR FORCE, MARINE CORPS, COAST GUARD, RESERVISTS, NATIONAL GUARD, DOD CIVILIANS AND RETIREES
Leilehua Golf Course (Army, Schofield Barracks) Mililani, Wahiawa, Kapolei, Waipahu, Ewa Beach, Waipahu, Makakilo, Oahu, Hawaii
Walter Nagorski Golf Course (Army, Ft. Shafter)
Mamala Bay Golf Course and Kealohi Golf Course (Air Force, Hickam AFB)
Kaneohe Klipper Golf Course (Marine Corps, Kaneohe Bay)
Barbers Point Golf Course (Navy, Barbers Point): Mililani, Wahiawa, Kapolei, Waipahu, Ewa Beach, Waipahu, Makakilo, Oahu, Hawaii
Navy Marine Golf Course (Obvious Right?)
COMMISSARIES ON OAHU, HAWAII FOR ARMY, NAVY, AIR FORCE, MARINE CORPS, COAST GUARD, RESERVISTS, NATIONAL GUARD, DOD CIVILIANS AND RETIREES
Schofield Barracks Commissary near Wahiawa, Waipahu and Mililani, Hawaii Kaneohe Marine Corps Base Commissary near Kaneohe and Kailua, Hawaii Barbers Point Commissary near Kapolei, Ewa Beach and Makakilo, Hawaii Pearl Harbor Commissary and Hickam Air Force Base Commissary which are both near the cities of Pearl City, Pearlridge, Aiea and Honolulu.
Search For homes on Hawaii Home Search Link
Search For Homes on Oahu Hawaii MLS
Hawaii Real Estate Agent Website
Find a Hawaii Real Estate Agent on Oahu, Hawaii
Search Homes and Condos For Sale in Honolulu, Hawaii
Search Homes and Condos For Sale in Mililani, Hawaii
Search Homes and Condos For Sale in Ewa Beach, Hawaii
Search Homes and Condos For Sale in Kapolei, Hawaii
Search Homes and Condos For Sale in Makakilo, Hawaii
Search Homes and Condos For Sale in Waipahu, Hawaii
Search Homes and Condos For Sale in Aiea, Hawaii
Search Homes and Condos For Sale in Pearl City, Hawaii
Search Homes and Condos For Sale in Pearlridge, Hawaii
Search Homes and Condos For Sale in Kailua, Hawaii
Search Homes and Condos For Sale in Kaneohe, Hawaii
Search Homes and Condos For Sale in Waialua, Hawaii
Search Homes and Condos For Sale in Diamond Head, Hawaii
Search Homes and Condos For Sale in Hawaii Kai, Hawaii
Search Homes and Condos For Sale in Portlock, Hawaii
Search Homes and Condos For Sale in Wahiawa, Hawaii
Search Homes and Condos For Sale in Waikele, Hawaii
Search Homes and Condos For Sale in Waianae, Hawaii
Search Homes and Condos For Sale in Maili, Hawaii
Search Homes and Condos For Sale in Nankuli, Hawaii
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US Army, Retired; Serving your HAWAII REAL ESTATE needs. Full time, full service. Tested, trained and proven service. Failure is not an option. DAVID KUCIC, 1SG (Ret), RA, CRS, GRI, ABR, e-PRO
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Hawaii Military VA Benefits Preparation
Hawaii Real Estate Happenings: Walt Disney Resorts Coming to Hawaii
A Home in Hawaii That Didn't Follow Real Estate Logic
Hawaii Real Estate Agent Elected Junior Vice Commander of DAV
Hawaii Military Can Purchase Real Estate If You Know The Facts
Hawaii Military: Shipping a 2nd POV to/from Hawaii for $60
Military Relocation to Hawaii (the hard way)
Selling Real Estate in Hawaii Requires Honesty
Ramblings of a Hawaii Real Estate Agent: The Dream of Coming to America
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Great overview of the important aspects when buying a home!
Many times first time buyers are afraid because they do not feel they know how to start. A good Realtor can walk you through the process and make it easy.
Sabine-Aloha to a "friend" at Ft. Carson! This was just kind of rolled up in a nutshell. We both know that there is much more involved in a transaction but I just wanted to highlight a few of the hurdles to be crossed in Hawaii. Happy Easter. Woher kommen sie aus?
Randy-They sure are afraid. Like you said, a good Realtor will take them through every step. So many think that they have to compensate the buyers agent too. Wanna go in halves with me and we fly a banner behind a plane on Waikiki that says "Homebuyers Representatives Work For the Buyer For Free"? Aloha and Happy Easter to you and your family.
I think I agree with Randy...good job going more in depth!
Sally-Just trying to break it down and make it less confusing! Aloha!
David.. I agree, great post allowing people to understand where and how to start. They do need to find trusted people that will look out for their best interests.
Top,
Good post, I would like to use it.
Hows the weather? We are just starting to dry out here.
Phil
Jeff-Thanks! That means a lot coming from one of the AR Mortgage gurus! Aloha!
1SG Sharp-Feel free to use whatever you want. I am pretty sure you will find almost everyone here is willing to share. Sometimes I feel as though they are letting us all in on secrets. I beleive that as long as you dont plagiarize or if you do, you give the writer credit, nobody will have any qualms about that. Weather is great....just got back from spending the weekend in Waikiki. Life in Hawaii is tough. Take care there old Soldier. Aloha!