When buying property, understanding ownership types is crucial. Two main options exist: Fee Simple and Leasehold. Let's break down the pros and cons of each to guide your real estate journey. FEE SIMPLE: The American Dream? Pros: Complete Ownership: You own both the land and the building, offering maximum control and flexibility. Equity Building: As property values rise, so does your equity. Financing Options: Securing financing for fee simple properties is generally easier. Freedom to Modify: Make renovations or changes as you see fit, within legal guidelines. Cons: Higher Upfront Cost: Buying land in addition to the structure translates to a higher initial investment. Property Tax Burden: You're responsible for all property taxes associated with the land and building. Maintenance Responsibility: The upkeep of the entire property falls on your shoulders. LEASEHOLD: A Different Path to Property Pros: Lower Upfront Cost: You're only buying the building on the leasehold property, making it potentially more affordable. Less Maintenance: The landowner typically handles exterior maintenance, freeing you from some burdens. Cons: Limited Ownership: You don't own the land, so you can't build equity on it. Leasehold Fees: On top of your mortgage, you'll pay regular ground rent to the landowner. These fees may increase over time. Renewal Challenges: Renewing the lease at the end of its term can be expensive or even impossible. Restrictions on Use and Modifications: The landowner's lease agreement may limit how you use or modify the property. The Takeaway: Fee Simple offers more control and long-term benefits, but requires a larger investment. However, Leasehold can be a great option for budget-conscious buyers who prioritize affordability, less maintenance, and prefers the benefits of owning versus renting. Remember: Consider your long-term goals and financial situation. Talk to a real estate professional to understand the specific market dynamics and implications of Leasehold ownership in your area. Connect with ONE of our Agents to learn about the Fee Simple and Leasehold opportunities available on Oahu.  

  Living in Kakaako, Honolulu's hottest neighborhood, might seem like a pipe dream. But Ililani, a brand new fee-simple condominium development, is shattering that illusion. This 42-story high-rise consisting of both 1 and 2 bedrooms boasts not only stunning views and a vibrant community, but also offers a significant number of units designated for affordable housing under the Hawaii Housing Finance and Development Corporation (HHFDC). This means that first-time buyers and those priced out of the traditional Kaka'ako market can finally call this urban oasis home. Here's what makes Ililani so unique and attractive: Newly Constructed: Be the first to own and live in a sleek, modern condo. Enjoy the peace of mind that comes with brand new appliances, fixtures, and an attractive building. Below Market Pricing: Thanks to the affordable housing program, Ililani offers condos at prices significantly lower than the Kakaako average. This is your chance to secure a piece of Honolulu real estate with a manageable mortgage. Completion: While most new construction condos have a 2-4 year wait until completion to move in, Ililani is ready for occupany right now. Prime Location: Kakaako is a hub of trendy restaurants, shops, and entertainment options. Walkable streets and close proximity to the Skyline Rail Station, to the beach put the best of Honolulu at your doorstep. A select number of NEW affordable & market units will be released to the public on a first come basis!!! Ililani isn't just about affordability, it's about timing. It's a chance to live in a thriving community and invest in your future. Don't miss out on this exciting opportunity! For more information on Ililani and other new developments, and to inquire about eligibility for affordable housing units, contact a realtor specializing in Kakaako today! Our experienced agents are standing by to assist you with the application process, but you must hurry! Visit Ililani in Kakaako.

  Today marked the pre-sale release of owner-occupant luxury homes at Launiu Ward Village in Kaka'ako! With studios, 1, 2 & 3 bedrooms being offered on a first come basis, Launiu is the last new development in Ward Village featuring homes on the front row of Ala Moana Boulevard starting under $1M!!!   Studios from $693,190. 1 Bedrooms from $986,740. 2 Bedrooms from $1,714,950. 3 Bedrooms from $3,331,020.   To reserve your unit, schedule a showroom tour, or for more information, visit Launiu Ward Village   To find an Agent, visit https://www.onepacificrealty.com/agents