Realty investor blues - Hawaii Business

Realty investor blues - Hawaii Business

There are 19 comments on the Honolulu Star-Bulletin story from Jun 13, 2009, titled Realty investor blues - Hawaii Business. In it, Honolulu Star-Bulletin reports that:

Hawaii, which leapfrogged to No. 15 on a state ranking of foreclosure rates in May, has a larger percentage of second-home owners or investors in foreclosure than the nation, according to Irvine, Calif.-based RealtyTrac.

Join the discussion below, or Read more at Honolulu Star-Bulletin.

tweet snort

Wahiawa, HI

#1 Jun 13, 2009
I saw this coming.
These are the areas where the "rich" mainland haoles started buying second homes..... but they never really could afford them.
Or seeing Filipinos in single family homes rather than the usual 25 member extended family mansions.
Kapaa

Kailua Kona, HI

#2 Jun 13, 2009
Good for the greedy speculator who drove our land prices to where they are today.I hope there credit is ruined so they will not be able to do this real estate flipping ever again.
Grinchie

United States

#3 Jun 13, 2009
The allure of Hawaii is intoxicating to the moneyed visitor. All they see is an Island paradise, great weather and a life of sipping Mai Tai's and Papaya.

Then after a few moneths, the reality of the Crappy, dangerous roads, insane drivers that absolutely must speed the 5 miles to wherever they think they need to be. The reality that there are no doctors to be found on many Islands if you break a bone or get seriously injured. The realities of Water Catchment that is unregulated, dangerous, and poorly understood by even the local population. The diseases that are never mentioned in the tourist rags, such as Leptospiros and Rat Lungworm. The reality of the neighborhood properties used as dumping grounds for every type of spent used car.

When the Haoles realize just how bad a mistake they have made, then they see that there are no real jobs other than goverment, Military, or the Service industry. Agriculture is too foreign for them to even consider.

The realities of living on a small island, where you have a connection with almost everyone in a few short months are too much for the unprepared entitled Haole. They blow their wad on McMansions, then find that they never spend any time in the house anyway. Hawaii is littered with the remains of big dreams that were crushed by Pele and her demand for respect of the Aina. Hawaii is unique in its ability to cull out the weak in a phenomenally short period of time.

I love Hawaii for just this reason. If you keep your eyes open and tune in to the dynamic energy of the Islands, it is the most rewarding lifestyle on Earth. Unfortunately, most people are so far disconnected from the Earth that this key requirement is never met.

So long speculators! Would you mind replanting the thousands of acres you bulldozed when you "Prepared" your lot, built a fancy stone wall, then ran out of money and went back to the mainland?
wildman

Honolulu, HI

#4 Jun 13, 2009
How much do you think the state is involved in Real estate?...a lot. Now,heres something interesting, The State has a dept for Real Estate in the DCCA, made up of Directors and Commissiners
and a Board of..guess what?...Realtors...they use realtors to make decisions on cases involving real estate tranasctions. Yet these are the same ones who'll let a company unlicensed return to being a business an reapply. This has been the biggest taxpayer fraud in history..we pay these people to sit on a board to make decisions where it should be held before a court. We don't need a Real Estate Dept or DCCA's part in real estate, but a Dept to examine these cases to be presented to a court of law, including Mortagage fraud, and foreclosures on properties, and unlicensed business as such. DCCA is responsible for bringing in all these Real Estate brokers from the mainland that causes foreclosures to our economy. They pass licenses out like a pass to go into a park. They don't check for background or history checks. Their record of competence is far beyond the publics knowledge of how negligent they really are. Yet, they state they have strict rules and regulations under the HRS (hawaii revised statues),that all real estate broekrs and salespersons must adhere to....REAllY?..How do you explain a real estate license that was forfeited then terminated was given a certificate of good standing allowed to operate?...Negligence of Fidicurary duties by DCCA..who is in charge of
Professional and vocational licensing,and the Real estate Dept within the DCCA and its board. And the issuance of the Certificate of Good Standing as well as the Licensing of a Business.
Now guess how much you paid them to do their jobs?....thx
Realty investors

Honolulu, HI

#5 Jun 13, 2009
It's not just mainlanders who are investors in Hawaii real estate. There are plenty of moneyed locals who are realty investors too. The greed of all of these investors has pushed real estate prices way beyond the means of Hawaii residents with average and below-average household incomes. This has driven many families into the rental market, which has driven up prices there too.

The high price of real estate, thanks to the greed of local, mainland, and foreign realty investors, is the root cause of economic hardship for the average family in Hawaii.

Therefore, I am not sorry to see realty investors take a financial hit on their realty investments. This is karma.
duhh

Napa, CA

#6 Jun 13, 2009
Told you idiots this was coming! Too many greedy bassets .PERIOD! Now they all think they going get rich buying foreclosures on the cheap! Yeah right... Karma going get em all. Do things right ==things right for you. Take advantage of others misfortunes rather than HELP the misfortuned=The CURSE going be on YOU.!!!A mama ua noa!
Wrat Tayle

Honolulu, HI

#7 Jun 14, 2009
Rich, poor, lawyers and whores it don't matter. People bought more than they could afford. The act of saving or spending less than you earn didn't come into the equation. That and how everything is taxed to the upteenth degree to keep our government in place means we choose, or volunteer, or select to live in the most isolated, most inefficient, piece of dirt in the world. Now we must look at ourselves and that's whose to blame because the choice and resonsibility it ours.
Ono

Kamuela, HI

#8 Jun 14, 2009
Buy now or else you will be price out forever.

When you own a home, you build equity.

What a way to sell real estate.
dewdalohajoey

New Orleans, LA

#9 Jun 14, 2009
But u ferget that many local home owners refinanced their homes during the recent price appreciation to tap out the increased equity. These folks are also in deep doo doo along with the mainland speculators.
ALAN

AOL

#10 Jun 14, 2009
Reading all of these comments makes my stomach quesy.

"It was the best of times, and it was the worst of times". Nothing stays the same..sometimes up..sometimes down.

Forget the doom and gloom!.As Donald Trump says, this is the time for opportunities! Stop whining and go for it.

Say what you will, there is still no place on earth like Hawaii.
alice

Kahului, HI

#11 Jun 14, 2009
prices here in manoa are sky-high
wildman

Honolulu, HI

#12 Jun 14, 2009
Picture perfect scam..thats what they called it..
A brokerage firm locally here took in the idea from the mainland firms in foreclosure fraud. And then others were caught..leading to the Corporations and partnerships abroad...this was a total conspiracy towards the publc by Real estate brokers here in hawaii. To cease and desist was not done by DCCA the main source for its problem, it in fact,licensed these businesses without regard to quality assurance of background checks and history checks, all because they too are a large entitiy in the Real Estate Market itself...
proof, check it out the the site..DCCA HONOLULU.
A list of their offices and commission, run by an outfit of Realtors. Who,hold mock cases on real estate brokers that should be held in a court of law...from unlicensed to one case that just about outraged me...a real estate broker and marijana who was restored his license by this same board.
This ladies and gentlemen is what your taxes paid for...a circus of negligent state workers within the state dept who are lapsed in their fidicurary duties to protect the publics best interest. thx
islander

Houston, TX

#13 Jun 14, 2009
duhh wrote:
Told you idiots this was coming! Too many greedy bassets .PERIOD! Now they all think they going get rich buying foreclosures on the cheap! Yeah right... Karma going get em all. Do things right ==things right for you. Take advantage of others misfortunes rather than HELP the misfortuned=The CURSE going be on YOU.!!!A mama ua noa!
Did you warn the idiots on the mainland as well .... seems to be real bad there ...
ohgoody

Houston, TX

#14 Jun 14, 2009
alice wrote:
prices here in manoa are sky-high
so aaa-n-i-c-e tell me, how high is the sky?
wildman

Honolulu, HI

#15 Jun 14, 2009
alice wrote:
prices here in manoa are sky-high
And Alice is correct..based on the many findings we had encountered..from Airlne fares to shipping cost..yet those in the mainland differ because they lack the cost we acquire,shipping of goods to shipping of fuel. Our economy cannot depend on local products only we are held hostage to the cost of mainland production and cost factors, autos, and auto parts,etc. But the housing cost here can be reuglated, and it should be regulated but corruption within the Gov't system itself has lacked the enforcement of high rental cost to those of low income, Real Estate brokers cash in on this as the biggest scam artist here against the residents of hawaii. And, not the local real estate but the mainland real estate who takes our economy away sending it off to another location.
this is one of the biggest downfall of the state.
thank you alice for your comment....wildman.
Leeward Lolo

Elgin, IL

#16 Jun 14, 2009
ALAN wrote:
Reading all of these comments makes my stomach quesy.
"It was the best of times, and it was the worst of times". Nothing stays the same..sometimes up..sometimes down.
Forget the doom and gloom!.As Donald Trump says, this is the time for opportunities! Stop whining and go for it.
Say what you will, there is still no place on earth like Hawaii.
Yep, but it is sinking fast.
huh

San Diego, CA

#17 Jun 14, 2009
tweet snort wrote:
....Or seeing Filipinos in single family homes rather than the usual 25 member extended family mansions.
typical Topix loser

sees the world through clouded, small-minded, archie bunker glasses

you should contribute to our world, rather than dumping your trashy thinging into it
wildman

Honolulu, HI

#18 Jun 15, 2009
huh wrote:
<quoted text>
typical Topix loser
sees the world through clouded, small-minded, archie bunker glasses
you should contribute to our world, rather than dumping your trashy thinging into it
Ok...that's putting it mildly...i'm gonna agree. good job....wildman
LOL

Houston, TX

#19 Jun 15, 2009
wildman wrote:
<quoted text>
And Alice is correct..based on the many findings we had encountered..from Airlne fares to shipping cost..yet those in the mainland differ because they lack the cost we acquire,shipping of goods to shipping of fuel. Our economy cannot depend on local products only we are held hostage to the cost of mainland production and cost factors, autos, and auto parts,etc. But the housing cost here can be reuglated, and it should be regulated but corruption within the Gov't system itself has lacked the enforcement of high rental cost to those of low income, Real Estate brokers cash in on this as the biggest scam artist here against the residents of hawaii. And, not the local real estate but the mainland real estate who takes our economy away sending it off to another location.
this is one of the biggest downfall of the state.
thank you alice for your comment....wildman.
I thought I read "Manoa" in alice's post.

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