“Owner financing is a useful tool in the credit market, as it expands the pool of potential buyers for owners and gives buyers an opportunity to make a purchase that would otherwise be out of reach, especially if they could not qualify for a traditional mortgage loan.” – Hawaii Association of REALTORS® Although seller financing (owner financing) has traditionally been a means by which real property transactions in Hawaii have been conducted, Clark Realty Corporation is currently advising our sellers to seek… Read More
Requires any operator of a transient accommodation to designate a local contact residing on the same island as the transient accommodation. Requires that all advertisements and solicitations on websites for transient accommodations display registration identification numbers. Effective July 1, 2012. Repealed on December 31, 2015. (HB2078 CD1)
Effective July 1, 2011, Act 115 further amends Hawaii’s owner-builder law, clarifying whether or not an owner, in the event of hardship, can sell a property with an open owner-builder permit.
As of July 1, 2010, there is now a process by which homeowners who have built a home or improved a property with an owner-builder permit can list the home for sale or lease within the first year after completion. To qualify for the hardship exemption, the owner-builder must file an application with the Contractors License Board certifying that the structure was not intended for sale or lease at the time the permit was obtained. The Board must notify the… Read More
HIBR Membership Meeting Yesterday, members of the Hawaii Island Board of Realtors (HIBR) met for our July General Membership Meeting at the ‘Imiloa Astronomy Center in Hilo. Theme of the Day: Politics Our first two guest speakers were Neil Abercrombie and Lt. Governor Duke Aiona, both of whom are running for the Office of Governor in Hawaii this year. Candidate for Lt. Governor Lyla Berg, State Representative from the 18th District and Vice-Chair of the House Education Committee, also attended… Read More