Maui rental smarts
The Honua Kai is a somewhat unique property on Maui. Each condo is privately owned fee simple. It is NOT a time share, like a Westin or Marriott. As owners, our goal is to take pride in OUR properties and make the mortgage payments - break even. That is a win-win for us....and for you! Here's how it works.....
As fee simple owners, we have a choice on how to rent our properties. Here are our priorities:
1. Standards of excellence/cleanliness - Probably the number one issue for us was the quality and cleanliness. We personally inspect each property several times a year and make sure everything is as perfect and clean as possible. These are our investments and we want them to be maintained and cared for.
2. Local people who care – In 2019 we changed our rental process and put our two older properties (Konea 604 and Konea 607) into the Outrigger Honua Kai Resort program. This was a big decision to leave the VRBO rental model, but we saw that these two units are now over 10 years old and it was beneficial to have access to a larger company with resources to keep our properties up to high standards. team are local and care deeply about what they do and the services they provide.
3. Not just a number – We do care about how much money we make on our properties, but its number three on our list. Each year, our goal is to break even. When we fully retire it may be nice to have some cash flow, but our goal is to build equity through mortgage principle payments and increased property valuations.
More info and pictures on our properties at the Honua Kai: