Hawaii Randy's Real Estate Opinions: Not All Condos Are Apartments

Not All Condos Are Apartments

Condominiums were invented in Hawaii.  I bet you didn't know that.  The term condominium not only refers to apartments and townhouses, it can also refer to single family homes that the land was divided under the Condominium Property Regime (CPR), formerly known as Horizontal Property Regime (HPR). 

There are many properties in Hawaii that had multiple homes on them and they wanted to sell them individually.  The problem is the property may not have qualified to subdivide for one of several reasons.  Here are a few of them:

  1. One shared driveway.
  2. Lot is too small according to zoning to create individual lots.
  3. A shared water meter or septic system for multiple homes.
  4. Common area like a playground or pool.

When buying homes in Hawaii it is important to always get a full disclosure.  If the property you are purchasing falls under a CPR, the condo association will provide a series of disclosure documents.  You will be provided the declaration documents when they created the CPR, the budget, the bylaws, a reserve study, insurance summary, financial statement, minutes from the board and annual meetings and the house rules.  It is important to carefully review these documents in the specified period of time.  In most purchase contracts there is a contingency for the buyer's acceptance of these disclosures.

If you are shopping on the internet and you are looking at single family homes an easy way to spot CPRs is that the address ends with an apartment number.  That is a requirement in Hawaii.

The safest bet is to use a top professional REALTOR® who knows the neighborhood well.  They can help you navigate through the buying process and ensure you know what you are buying and what you need to look out for.

Good luck and good house hunting.

 

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Randy L. Prothero, REALTOR®

Principal Broker, ABR, AHWD, CRS, e-PRO, GRI, MRP, SFR

Island Style Realty Inc.

Team Leader - "The Prothero Group"

Randy Prothero is well established as an expert in working with military / VA clients and first time home buyers.  His home seller's (listing) campaign is one of the most aggressive marketing programs in the area.

Based out of Mililani, Hawaii. Randy services the island of Oahu (Honolulu County) Performs mediations and ombudsman services for the Board of Realtors.  To improve overall professionalism in his area Randy also offers classes for real estate agents. 

www.HawaiiRandy.comOahu (Honolulu County) Property Search  Hawaii Military Relocations

Comment balloon 8 commentsRandy Prothero • July 23 2008 10:29PM

Comments

Great overview of condos and CPR in Hawaii Randy. Now you've given me my history trivia on the condo and I can pretend I'm smart ; )

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) over 9 years ago

Randy - It is sometimes funny reading your posts when we are in Texas. You guys are working with such different issues than we have with a wide open state! Hope your business continues to grow too!

Posted by Susan Hilton, Texas Aggie Real Estate, College Station Bryan Texas Real Estate (CENTURY 21 Beal, Inc.) over 9 years ago

Randy, this trivia will come in handy when I'm out showing condo's here.  It's always nice to share a "Did you know...?" with a client.

Posted by Mark Organek, On a journey to accomplish one huge goal. (And the United States of America) over 9 years ago

Gary - I don't think you are pretending.

Susan - We are on an island with some of the most expensive dirt on earth.  We have to be creative to keep everyone with their share.

Mark - I bought one in Tempe a few years ago and my real estate agent thought that was a cool piece of trivia.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 9 years ago

Randy:

Gee, I didn't know that history about condos. I find lots of folks think a townhouse  and condo are different animals, or that all attached units adn townhouses are condos.

Jeff

Posted by Jeff Dowler, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) over 9 years ago

Jeff - We have attached homes here that are not condo.  They are single family attached homes with no association.  It can be confusing for those not familiar with our real estate laws.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 9 years ago

Randy, I did not know condominiums were "invented"in Hawaii. That's interesting. I think the term condominium is easier to understand if folks realize it is a type or ownership and has nothing to do with the structure of a building. In my area many folks believe that anything with a joining wall and common areas is a condo and that's just not so. We have a townhouse community in Poinciana that is set up just like a condo. Association fees that cover insurance, exterior maintenance, common areas, parking spaces etc....but it's "fee simple" ownership. It can be confusing for buyers, REALTORS(R) and lenders that are not familiar with the complex.

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) over 9 years ago

Bryant - In Hawaii condos and single family ownership can be fee simple or leasehold.  It can get confusing for those not familiar with the local laws.

Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 9 years ago

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