Having a new plan/goal is exciting, but there is so much to figure out. Google has become my new best friend. Mr. PFL and I are still considering Hawaii to be a viable option. We’ve actually located a vacant lot with a lot of potential. It is listed at $175,000 for just under 7.5 acres, fee simple. It is zoned agricultural with minimum lot sizes of 5 acres. We currently live on .11 acres and our neighbor mows the front yard for us (our backyard is all landscaping/flagstone/vegetable garden), so this would be quite a change. We are also able to walk to almost everything we need/want - a reliable vehicle would be imperative in Hawaii as the closest town is about a 30 minute drive.
We’ve also been looking at zoning laws, since I don’t believe in buying real estate without a plan for potential income. The zoning laws are somewhat complicated and stringent, because, as we learned on several of our tours, the people of Hawaii try very hard to preserve the islands. The other complicating/interesting item is the ability to create Ohana dwellings, which are basically mother-in-law suites, attached or unattached, but without a complete kitchen so the Ohana (family) all eats together.
I’ve looked at some listings on HomeAway.com. At least one listing’s comments indicate that there is a second home that the owner lives in on the property during the time they are renting. So, I guess it is possible, but it will take a lot more work to figure out all of the rules.
We’d also first need to build a house in order to even consider renting it out. There are several companies that have kits for sale that include everything you need to build a house. Labor, electricity, plumbing, water catchment, preparing the site, etc., are all extra. Pricing has been tricky to find, but the price range at Argus Building Supply has a studio home for as little as $10,500, with a 3-bedroom maxing out at $41,500. We could build a house ourselves, technically, but the cost savings aren’t likely to pay off. For example, we’d need to live somewhere while we built the house; we’d need tools; we’d need time; we’d need to learn how to build a house; and we’d still need to hire plumbers and electricians or the house wouldn’t be up to code.
We’ve also considered building or buying a tiny house. We watched an entire video about a tiny house in Hawaii.
We’ve briefly looked into getting jobs in Hawaii to help ease the transition. Unfortunately, Hawaii doesn’t have reciprocity for lawyers, so I’d need to take the bar exam again. It is making me nauseous just typing this, which is the same reaction I had when I first looked up the rules this morning. It is possible I could get a legal job, just not as a lawyer, if I don’t take the bar exam (like a law clerk or paralegal). Mr. PFL was looking into groundskeeping.
So, the next steps, in no particular order, are to:
1) Find a real estate agent;
2) Decide on a budget and financing;
3) Decide the ownership type we’d like to use (probably an LLC);
4) And, go back to visit???
BTW - I did get a couple of emails in response to my casting application to be on Hawaii Life, but nothing else is happening on that front.