With its emerald green ocean, towering mountains and inviting ‘Aloha’ spirit, Hawaii is an alluring destination. But buying land in this beautiful paradise is not without its challenges. From complex regulations to remote locales, tackling land investments in Hawaii requires a seasoned regional expertise. Inexperienced outside investors often make costly mistakes when attempting to buy land in Hawaii without local guidance.
One major mistake buyers make is not researching zoning regulations on their intended land usage. This is particularly crucial for Hawaii land, where complex zoning laws and special districts govern property development. Additionally, many of the island’s lands are protected by national parks and state conservation subzones. Finally, the majority of lands in Hawaii are leasehold, rather than freehold. A leasehold real estate arrangement means the new owner only owns the mistakes to avoid when buying land in Hawaii for a predetermined amount of time. Those who buy leasehold land must consider how long they want to own the property before committing funds.
Another mistake is focusing solely on square footage when looking for the ideal home size. In Hawaii, space is limited, so it is more important to look at the available outdoor space. This is especially true if the buyer plans on growing fruit trees, raising livestock, and/or other income-generating activities.
Lastly, it is important to consider the availability of utilities when considering a lot in Hawaii. While it is possible to live off the grid, it’s much more cost effective and convenient to use public services like electric power, water, high-speed internet connection and garbage collection. Buyers should also look at the ease of establishing utility connections on their preferred lot, as well as whether they will be required to join an HOA.
As with any real estate purchase, it’s important to consult a qualified Hawaii land attorney. They can help you understand the unique regulations and property customs in each area of the state, as well as sift through complex contract language. Having an experienced attorney by your side can save you money in the long run by avoiding costly mistakes.
If you’re prepared for the challenges of owning land in Hawaii, and are financially ready to take on a slower pace of life, then purchasing land here may be an excellent investment for you. But it’s crucial to weigh the pros and cons, and carefully plan for your future. Consider renting first to experience day-to-day island living, and always consult professionals and locals before committing your funds to a land purchase. By doing so, you can avoid wasting your hard-earned money and ensure that your dreams of buying land in Hawaii are fulfilled.