Alfred Harding

A realtor mentioned that they thought construction had halted at the Disney Resort in Ko Olina. Well as I have observed with my own eyes, (see below photo) and the news article, I don't believe that this is the case.

As reported by NBC WPTV channel 5 today:

Preliminary site work is underway at Walt Disney Parks and Resorts first family destination resort in Hawaii. The company says they were establishing where the foundations will be placed and laying the underground utilities at Ko Olina.

The twenty-one acre oceanfront resort is scheduled to open in 2011.

The Disney resort is to include 350 traditional hotel rooms. It will also feature 480 timeshare vacation villas. Plans call for a pool and water play area, an 18,000 square-foot spa, a wedding lawn, an 8,000 square-foot convention center and a children's club

So it's nice to see that our Beach Villa's neighbor is continuing to move forward with their "family destination", welcome to the neighborhood.

Alfred Harding is a licensed Hawaii real estate professional providing clients with insight and knowledge as it relates to the Beach Villas at Ko Olina on Oahu, Hawaii. You can also find him blogging about the resort at: Beach Villa Resort Blog and on Facebook. Vacation Villa Reservations available at: Beach Villa Resort Reservations.

Centex sent out a press release on Feb 26th, 2009 announcing their final sales event at the Beach Villa's at Ko Olina to the general public.

Note the fine print:

Editor's notes: Please note that Centex reserves the right to (i) cancel, modify or postpone the Sales Event, (ii) continue to sell villas prior to the Sales Event, (iii) adjust the villa inventory and prices available at the Sales Event, and (iv) to provide priority reservations for current villa owners, Centex employees and others. This does not constitute an offer in any state where prior registration is required. Project Broker- Centex Homes dba Centex Destination Properties.

So there is always the possibility that Centex could cancel the sale if there is not enough demand. I wonder what would happen then?

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Please allow me to represent you as your buyers agent on selection day. There is no cost to you and your purchase price is exactly the same. What you select and how much you pay will make a big difference in your profitability; both from an appreciation standpoint and if renting, covering expenses. Afterwards, we can also work together to "get heads in beds".

(All of the thoughts expressed in this blog are my own personal opinion, they are no guarantee that you will achieve similar results, it's just me sharing my own experiences and what has happened in my own situation. I cannot know what will happen in the future.)

Today's Dallas Morning News was touting Mexico as being a great place for baby boomer migration. Before I purchased at the Beach Villas, we also looked long and hard at Mexico as one of our options. So what made us choose Hawaii?

1 - It is the United States of America.

2 - No other place in the world is like Hawaii, not just the physical part like the beaches but the people and the "Aloha" spirit that is shared with visitors and residents alike.

3 - The ongoing drug violence in Mexico – more than 6,200 people killed last year. When the Chief of Police in Rosarito and other high ranking officials were beheaded with their heads placed on the sand at the beach, we decided no.

The article continues to mention that 78 million American baby boomers are racing toward retirement, Mexican and American investors are betting that in the coming years tens of thousands of them will look at Mexico as a potential home.

I would venture to say that some of those 78 million Americans will choose Hawaii in the good old USofA and that's a good thing for anyone purchasing Real Estate here in Hawaii.

Dallas Morning News Article

Aloha,

Alfred--

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Please allow me to represent you as your buyers agent on selection day. There is no cost to you and your purchase price is exactly the same. What you select and how much you pay will make a big difference in your profitability; both from an appreciation standpoint and if renting, covering expenses. Afterwards, we can also work together to "get heads in beds".

(All of the thoughts expressed in this blog are my own personal opinion, they are no guarantee that you will achieve similar results, it's just me sharing my own experiences and what has happened in my own situation. I cannot know what will happen in the future.)

My take is they are in trouble but need to dump inventory and make cash immediately to stay afloat. I would say that they will achieve that as there is no negative comments on the wires in that respect.

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Please allow me to represent you as your buyers agent on selection day. There is no cost to you and your purchase price is exactly the same. What you select and how much you pay will make a big difference in your profitability; both from an appreciation standpoint and if renting, covering expenses. Afterwards, we can also work together to "get heads in beds".

(All of the thoughts expressed in this blog are my own personal opinion, they are no guarantee that you will achieve similar results, it's just me sharing my own experiences and what has happened in my own situation. I cannot know what will happen in the future.)

At first glance, the answer would be yes. To me, the HOA dues are high, I have a hard time accepting them, (this is my first time of purchasing at a resort).

So I decided to do a little research:

Believe it or not, compared to other places, they're not so bad. The HOA fees at Wailea Beach Villa's are around $3,500.00 per month, more than double the fees here. (Their villas are larger).

Look at the Ritz Carlton Kapalua,

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Ritz Carlton Kapalua

* 1 Bd-Average cost/yr (COA, taxes, insurance, FF&E=$4,119/mo): $49,428
* 2 Bd-Average cost/yr (COA, taxes, insurance, FF&E=$6,278/mo): $75,336

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So the Ritz Carlton Kapalua HOA, taxes, furniture replacement reserve and insurance run $6,278.00/mo for a two bedroom! If you look at our expenses for the two bedroom, the HOA is around $1,200.00 per month, the property taxes are around $1,100.00 per month and I spend around $1,200.00 per year on insurance. So it's a 1/3 of what the Ritz Carlton Kapalua costs.

(The Ritz fee also includes a reserve for purchasing new furniture when the old furniture wears out.) You will need to factor in about another $400.00 - $500.00 per month in reserve for furniture replacement or about one nights rent.

So I still don't like the monthly expense but it does seem that the fees are in line or better than with other properties. Not having to pay franchise fees for a name brand like Ritz Carlton or Four Seasons does help.

With that said, it would be nice if the board could look for areas where expenses could be reduced during this downturn. This is one of my goals if elected to the board.

[ Where I got my information: I just received this email from the Ritz Carlton Kapalua. (We shop every real estate opportunity in Hawaii and we look at everything. Trump Waikiki, Honua Kai in Ka'anapali, Ritz Carlton Kapalua, Maluaka, Ho'olei, Papali Wailea, Ritz Carlton Lagoons Kauai, etc.) The Wailea Beach Villa HOA information is from shopping Maui real estate and looking at the HOA dues on-line.]

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Please allow me to represent you as your buyers agent on selection day. There is no cost to you and your purchase price is exactly the same. What you select and how much you pay will make a big difference in your profitability; both from an appreciation standpoint and if renting, covering expenses. Afterwards, we can also work together to "get heads in beds".

(All of the thoughts expressed in this blog are my own personal opinion, they are no guarantee that you will achieve similar results, it's just me sharing my own experiences and what has happened in my own situation. I cannot know what will happen in the future.)