Purchasing a vacation rental in Hawaii can be a sound investment, but only if you do your due diligence first. Once you find a property worth considering, evaluate the following factors to confirm if it’ll meet your needs.

4 Factors to Consider Before Buying a Vacation Rental

1. Location

Since this property is a vacation rental, you’ll want to appeal to tourists. Make sure it’s within easy access to the beach, shops, restaurants, and other major sights that are undoubtedly at the top of visitors’ itineraries.

2. Restrictions

Review local zoning laws and HOA rules to confirm that you can use the property as a short-term rental. If you don’t intend to live in the house, renting restrictions may prevent you from making a return on the investment.

3. Competition

If there are a lot of rental homes in the area, your property should stand out. Does it have a jetted bathtub, plenty of covered parking, or a luxurious lanai? To ensure maximum occupancy, you’ll need at least a few standout features that will draw renters to your home instead of those in the vicinity.

4. Maintenance Requirements

Don’t shy away from a gorgeous property just because it has a lot of maintenance requirements. However, consider what kind of ongoing care the property will need before you proceed. For example, if it has a pool or hot tub, you can charge more per night, making the extra maintenance worth it. If the home needs ongoing maintenance because of eroded building materials, you may not want to proceed with the sale.

Once you purchase the perfect vacation rental on Maui, HI, count on Hawaiian Management to maintain it. This owner-operated property management firm specializes in short- and long-term vacation rentals. They offer turnkey services, and their team will handle all the logistics of managing tourists while you collect a return on the investment. Learn more about their services online, or call (808) 205-0781 to discuss your property.