Originally Posted by
mtofell
I'm "on the ground" here in Maui and I do home inspections.... can't remember the last time I did a condo/rental for a true investor - as in, one that is purely buying for profit and not going use the unit. Most units I do are for what I'd call a "mom and pop" investors. Nearing retirement, probably buying with inheritance money or some other windfall and they plan to occupy sometimes, Air BnB/VRBO it others and eventually retire in it. I get the feeling true investors bailed out of Hawaii (or, at least Maui where I am) long ago.
Maybe things have changed in Wailea Beach Villas from several years ago, but I know a guy who owns two units there. He told me then that he could think of only two units in the whole complex where the owners actually lived there. Everything else was either an investment property, or some rich person's vacation property.
This two-bedroom unit I posted about upthread is in the penthouse building. $5.5 million asking, and the pitch you see from the seller's agent is as a rental investment property. Doesn't seem like a rich person's vacation property to me, but then again I have no idea how this Wailea world works. I rent a place once or twice a year, and I let others sweat the ownership details.