Appreciation is king out here most people buy property with the hopes of having cashflow but the reality is appreciation should be your focus and strategy when investing in Hawaii.
What do you use for your data? Just had an offer accepted on a condo that we love but looking at the tax assessments it has only appreciated 2% annually in the past 5 years, so now I am unsure if its better to rent. I also don't know if tax assessments are even a good indicator.
Aloha! I utilize the MLS which pulls sales data. You never want to utilize the assessed tax value as it generally is always lower then the MARKET VALUE (what someone would be willing to pay for it) or APPRAISED VALUE (value of similar properties that have sold in the last 180-365 days). Hope that was helpful. Feel free to email me if you would like me to do an analysis on your specific property.
Appreciation is king out here most people buy property with the hopes of having cashflow but the reality is appreciation should be your focus and strategy when investing in Hawaii.
What do you use for your data? Just had an offer accepted on a condo that we love but looking at the tax assessments it has only appreciated 2% annually in the past 5 years, so now I am unsure if its better to rent. I also don't know if tax assessments are even a good indicator.
Aloha! I utilize the MLS which pulls sales data. You never want to utilize the assessed tax value as it generally is always lower then the MARKET VALUE (what someone would be willing to pay for it) or APPRAISED VALUE (value of similar properties that have sold in the last 180-365 days). Hope that was helpful. Feel free to email me if you would like me to do an analysis on your specific property.