Page 2 - Hawaii Island MidWeek - August 17, 2022

2 HAWAI‘I ISLAND MIDWEEK AUGUST 17, 2022
Since our founding more than 100 years ago, HPM Building
like HOPE Services and Habitat for Humanity, to de- veloping new solutions like manufactured wall panels and trusses, micro-shelters, packaged home plans and pre-approved home models, HPM is all in when it comes to collaboration and innova- tion for attainable housing.
Food Basket, Hawai‘i Island United Way and others.
academic excellence, a his- tory of strong community service and full-time enroll- ment at a University of Ha- wai‘i System school. There were 10 outstanding scholar- ship recipients in 2022, in- cluding three from Hawai‘i Island: Nai‘a Balancio from Konawaena High School, as well as Brook-Lynn Haa and Michael Kitamura from Waiākea High School.
Hawai‘i Community Col- lege carpentry program. This year’s recipients are Keiki-
makamae Ahu, Jovaustin La‘a and Allen Soares.
SEE PAGE 3
Supply has provided qual- ity building materials for homes and businesses. As our company has grown, so has our commitment to help our community build better and live better.
Beyond meeting the com- munity’s needs today, we also invest in future genera- tions. My great-grandfather, Barney Fujimoto, knew that education changes lives. For nearly 40 years, the HPM Foundation has assisted lo- cal students with their col- lege aspirations in honor of his memory.
Still Committed To Building Better Communities
By Jason Fujimoto, president and CEO of HPM Building Supply
DIRECTOR OF CONTENT/ SUPPLEMENT PRODUCTS RON NAGASAWA
EXECUTIVE EDITOR
BILL MOSSMAN
MANAGING EDITOR
NICOLE MONTON
PRESIDENT & PUBLISHER
DENNIS FRANCIS
CHIEF REVENUE OFFICER
DAVE KENNEDY
REGIONAL SALES MANAGER
LANCE TAKAKI
hawaiiislandmidweek.com
To start/stop delivery or report a service issue, please call (808) 529-4700.
Telephone for Editorial: (808) 529-4700
Fax: (808) 585-6324
Telephone for Advertising & Administration: (808) 529-4700
Hawai‘i Island Midweek is published every Wednesday by Honolulu Star-Advertiser, 500 Ala Moana Blvd., Suite 7-500 Honolulu, HI 96813.
Today, we’ re proud to be among the many companies sharing expertise and re- sources to address the state- wide housing crisis. From partnering with the County of Hawai‘i, and nonprofits
Through the HPM Foun- dation, we advance our mis- sion of enhancing homes, improving lives and trans- forming communities by supporting local nonprofits, including the Hawai‘i Island
Barney S. Fujimoto Me- morial Scholarship recip- ients receive $1,000 each and are selected based on
The HPM Building Fu- ture Builders Scholarship awards $750 scholarships to second-year students in the
HPM Building Supply partnered with HOPE Services Hawai‘i on the Sacred Heart Community Affordable Housing Project. Once completed, these in-progress units will be the first affordable rental housing development for homeless kūpuna in Puna. PHOTOS COURTESY HPM BUILDING SUPPLY
# hawaiianrealty.com • hawaiianrealty.com • hawaiianrealty.com • hawaiianrealty.com • hawaiianrealty.com • hawaiianrealty.com #
hawaiianrealty.com 800-667-5028 ext. 8122
Denise S. Nakanishi
RB-17031, ABR, CRS, GRI, SRS
“Major Mom is a Major Difference”
cell 808-936-5100 majormom@ilhawaii.net
As mentioned last week, condo ownership can be regarded as an affordable alternative to single family homes. The options in East Hawaii are very different than those on the West side. Most in East Hawaii are of the 1970’s vintage and, were often hotel conversions. Because of age, East side condo fees generally run quite high but many cover basic utilities because units were not originally individually metered. A reserve
study that projects long range maintenance and major repairs is required for all projects. Theoretically, this circumvents the necessity
for unprogrammed Special Assessments.
Many buyers in East Hawaii shy away f fr ro om m t th hi is s f fo or rm m o of f o ow wn ne er rs sh hi ip p b be ec ca au us se e p pe et t ownership possibilities are restricted. Pacific
Heights Townhomes does allow small pets. Townhome ownership normally comes with an adjacent yard area. Pacific Heights is individually metered and have attached covered parking. Walking to town is easy. Hale Kahakai at the end of Keaukaha also allows some pets. Along with other oceanside units in Keaukaha, the HOAs
in Hilo Lagoon and Bayshore Towers, can be $1000 per month or more. This, along with the mix of owner occupants to rentals, severely limits financing options. Owner-occupant mix in Hale Kahakai is normally ok. With mortgages such as FHA and VA, the building must be pre-approved. After the collapse of the buildings in Surfside, FL, new rules from Fannie Mae and Freddie Mac require condo associations to verify a building’s physical soundness. As with most new rules, the unintended consequences limited affordability. Many buildings are needing special assessments to retrofit the buildings. I haven’t heard that this is the case in East Hawaii but you’d want to ask. Because condos are generally defined as the ownership of airspace, the association insurance normally insures the exterior. This savings can be a benefit to the owner. Bylaws are generally the place to look for limitations on use (pets for instance). Copies of these, minutes of meetings, reserve studies and assessment notices are documents to review. While a few buildings allow short term vacation rentals (STVR) or may be zoned so that an application is approvable, this
is not always the case. Mauna Loa Shores allows these but county zoning does not. This is in stark contrast to many complexes on the West side. Waiakea Villas zoning does allow possible STVRs use. Building management is a critical component of the purchasing analysis. Most East Hawaii associations are managed by Day-Lum. They do a great job in my opinion. Some buildings also have a resident manager paid by the association. Be sure to consider HOA board member composition. Be prepared to participate or keep your complaints to yourself. Privacy is always an issue. Many buildings have common hallways and shared laundries. Common hallways often mix the smells of “what’s cooking”. Smoking is thankfully not allowed so is no longer par t of the odor mix. So far, so good? There are certainly many more specific issues to consider before moving forward. Your agent has access to information specific to each building. Listing agents can be a great source of information. Being part of shared ownership can provide flexibility and affordability but dive deep before you leap! It’s not for everyone! Blog forward at www.hawaiianrealtyhomes.com
EAST HAWAII CONDO OWNERSHIP??
Beach Rd in Keaau
Rock Walls are already in!
Gorgeous & Value Packed! Get ready to create your very own oceanfront estate on 16,988sf lot.
MLS #659745 $450,000
FIND MY COLUMN EVERY SUNDAY OF THE MONTH. Watch “HAWAII LIFE” on YouTube!
h h a a w wa i a i a i n i a r e n a r l e t y a . c l o t y m . c • o h m a w • a i h i a a n w r e a a i l i t a y . n c o r e m a l t y . c o m
hawaiianrealty.com • hawaiianrealty.com