Hawaii Luxury Home Buying 101 - What You Need to Know - Sakamoto Properties

Hawaii Luxury Home Buying 101 – What You Need to Know

Home » Maui Real Estate » Hawaii Luxury Home Buying 101 – What You Need to Know
March 25, 2022

Indulging in Hawaii’s beauty and fun activities for a few weeks is enough for some people. However, for others, a short vacation trip isn’t enough. The scenic view, tropical weather, and distinct Hawaiian culture make the state an irresistible place to live in. It’s no wonder real estate properties are selling at a quick pace.

Hawaii offers many luxury property listings, from beachfront condominiums to multi-million-dollar mansions in exclusive neighborhoods. But if you want to make the most out of your investment, you don’t simply buy the most expensive home. You must look for the crème de la crème of real estate properties. Here’s a guide for luxury Hawaii home buying to make things easier for you.

Eight expert tips to consider when buying a luxury Hawaii home

Buying luxury real estate in Hawaii is not the same as shopping for an average-priced home. With an investment as massive as this, you’ll need to do heaps of homework and weigh in several factors. Consider following these expert tips to help you purchase the home of your dreams and avoid making typical buyers’ mistakes.

1.       Understand what a luxury home is

Just because it’s valued within the top 10% of properties doesn’t mean it checks all the boxes of luxurious living conditions. Before spending a huge chunk of your money, you need to understand what makes a luxury property. These high-end homes in Hawaii are more than just a price tag.

If you want to get the most out of your investment, you need to consider its size, location, quality of materials and construction, and unique features. Is it in a gated community with an incredible view and outrageous amenities? Does it have greater square footage than traditional homes and feature high-end finishes throughout?

2.       Know your priorities

When buying a luxury Hawaii home, you need to have a clear picture of your priorities. Do you want to live just a few steps away from the beach? Are privacy and silence at the top of your list? Remember, not all luxury homes on the island offer the same features, no matter how expensive.

Make sure you anchor your expectations on reality. Try to make a checklist of your top priorities. It may include how much space you need, how many bedrooms and bathrooms, lanai size, or club access. You can even list down specific locations and activities your family enjoys.

3.       Be aware of several search options

Homebuyers often seek out online listings when searching for traditional residential properties. However, luxury homes are part of a unique sector in the real estate industry. They don’t often show up among the standard listings, making them difficult to find.

Owners of these multi-million homes and condos tend to sell their properties privately or work exclusively with a luxury realtor. You will need to speak with these professionals and use their connections to access these exclusive real estate listings.

4.       Work with a local real estate agent

Working with the right real estate agent goes a long way in making your buying experience smooth and successful. It’s best if you work with someone who knows all about luxury listings in Maui, the Big Island, or other Hawaii islands. That way, you can ensure you know all the best deals in Hawaii.

Aside from that, an excellent real estate agent with experience in handling luxury homes can help you find problems with the property that you wouldn’t otherwise know. They have a good understanding of what is and isn’t an excellent deal.

5.       Research your potential neighborhood

Once you know your priorities, it’s time to look at potential neighborhoods. Location is an essential factor when buying a luxury Hawaii home. After all, you wouldn’t want to be stuck in a community that doesn’t exude the lifestyle you want.

If you’re thinking of buying a luxury property in Maui, there are several oceanfront listings and beachfront properties you might want to consider. These residential areas have some of the best views of Hawaii’s crystal-clear waters. Meanwhile, Kapalua’s neighborhood boasts sprawling golf course views and the stunning West Maui Mountains.

6.       Think about the future

Make sure you also consider the future and not just the present. For example, if your children are off to college in the next few years, buying a smaller luxury home might be best instead of something massive. You should also find out about future development plans within and around the neighborhood.

Are they planning on doing more developments that could disrupt your peace in the next few years? Is there going to be a new building that will block your view? If you’re planning on selling the property in the future, these changes might hurt its resale value.

7.       Look beyond the photos

The biggest mistake you can make is buying a luxury home without inspecting the property. Even if the photos look spectacular online, there could be hidden issues that they don’t want to show. At the same time, there are also luxury homes that aren’t necessarily photogenic and can be appreciated better when visited in person.

Be sure you visit the property with a trusted real estate agent. You can ask them all your questions and request some help pointing out potential issues. If you’re not in Hawaii, you might want to consider hiring a professional home inspector to do the job for you.

8.       Don’t overextend

Just because you can buy the most expensive luxury Hawaii home doesn’t mean you should. Sure, Hawaii has some of the industry’s dreamiest homes in the market, and it’s easy to forget all the practical decisions you must make. However, overextending yourself will often leave you with some buyer’s remorse.

Between the cost of furniture, cleaning, maintenance, and upkeeping amenities, there are other financial matters you need to consider. A trustworthy realtor can help you stay within a reasonable budget. They can look out for your best interest while searching for the finest luxury Hawaii home.

Choose your paradise in Hawaii today!

Buying a luxury house in Hawaii is definitely worth the investment. Just imagine finally living in paradise all year long. With its world-renowned beaches, picture-perfect landscape, perfect weather, and an endless list of adventures and activities, it’s genuinely a dream come true.

If you’re ready to choose your luxury Hawaii home, our local real estate experts at Sakamoto Properties are at your service. We’re prepared to answer any of your questions, help you find the best properties, and assist you in the entire home buying process. Contact us now and start your journey to paradise!

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