Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The above messages are in 2008...are there any up to dated messages like 2013? What is happening to this building? Is it advisable to buy at this time?
I'm not super familiar with that specific building, however I do own a condo not far from it.
I believe that project is a co-op and on leased land. I personally would not buy a leasehold property for many reason. Such as diminishing value and increased re-sale difficulties as you get closer to the end of the lease term.
If I'm correct that this is also co-op you likely would need to pay cash for the unit. But check with your realtor to be certain. They could answer your question with a quick phone call.
We have happily lived at the Kalia for almost 20 years. The building is well kept with beautiful gardens and heated pool. The co-op owners care very much about keeping their home nice. Many many people are now doing major upgrades to their units since the lease was extended until 2048. That would make me 99 years old at that time... so I am not going to worry about it.
To me it is a real gem. Right across the street from the beach, down the block from Ala Moana Center and parks. Foodland's Pantry and post office is right across the street.
And its affordable. Everything else around here is super expensive. I don't think there is anything as nice as this in the area around here. More expensive yes.. nicer no. My opinion.
I, too, have been interested in perhaps purchasing a condo at Kalia but am a little reticent after reading some of the other posts. As I reside in Australia I was hoping to purchase and let my immediate family use this condo for holidays. It sounds as though only the owner can reside there. Is this so? Some agents state that you only have to do this for a 12 month period then you can rent the condo out. Is this in fact the case? Would be pleased if someone could advise me re the aforementioned and also if there are other restrictions, e.g. a certain number of people allowed in condos at one time etc. Thankyou. S.Campbell.
I see rental listings for Kalia - the small units rent for about $1,600/month. Or, you can buy the small units for about $100,000 + $900/month HOA/Lease rent.
Talk to a real estate agent regarding renting a unit out.
I, too, have been interested in perhaps purchasing a condo at Kalia but am a little reticent after reading some of the other posts. As I reside in Australia I was hoping to purchase and let my immediate family use this condo for holidays. It sounds as though only the owner can reside there. Is this so? Some agents state that you only have to do this for a 12 month period then you can rent the condo out. Is this in fact the case? Would be pleased if someone could advise me re the aforementioned and also if there are other restrictions, e.g. a certain number of people allowed in condos at one time etc. Thankyou. S.Campbell.
The leaseholds are supposed to be up to 2048, but some inside information told confidentially that the 1958 yr. old building is supposed to be torn down for a new high rise to be built up. Now, what is the truth? It's true that something is wrong w/so many units being on the market. At least 10 units!
The fee owner can offer to extend the lease and charge market lease rent. If that amount is more than what current leaseholders want to pay then the leases expire as originally negotiated and the owner is free to take back his property.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
an oasis in Waikiki
