Yes, you can finance a condo in Hawaii; however, the process can be more complex than financing a single-family home due to additional lender requirements tied to the condominium project itself.

Key Factors to Consider:

Project Approval:
Lenders must approve both the borrower and the condo project. Some condos—especially those with high short-term rental activity or limited reserves—may not meet conventional lending guidelines.

Warrantable vs. Non-Warrantable:
A “warrantable” condo meets Fannie Mae/Freddie Mac criteria and is typically easier to finance with standard loans. “Non-warrantable” condos (often vacation-oriented or leasehold) may require alternative or portfolio loans, sometimes with higher interest rates or down payment requirements.

Down Payment & Loan Types:

• Conventional Loans: 3–20% down, depending on occupancy and loan limits
• Jumbo Loans: Often used for higher-end condos (see: Luxury Condos »)
• VA & FHA Loans: Some Hawaii condos are approved for VA or FHA financing—check eligibility with your lender.

Leasehold Condos:
Leasehold properties (where land is leased, rather than owned) may have stricter financing requirements. Ensure you understand the lease terms and expiration dates.

Hawaii-Specific Considerations:
Local lenders (like Bank of Hawaii or First Hawaiian Bank) are often more familiar with unique Hawaii condo projects and may offer more favorable terms than mainland lenders. Penn can recommend numerous well-established local lenders who can help.

Helpful Resources:

• Hawaii Mortgage Calculator »
• Big Island Condo Listings »
• Contact Penn to Connect with a Trusted Local Lender »

It depends on the condo's location, zoning, and association rules. Not all condos in Hawaii allow short-term vacation rentals (STVRs), and the Big Island has strict regulations in place.

Key Considerations:

Zoning Matters:
Short-term rentals (less than 30 days) are generally allowed in resort-zoned areas such as:

• Kailua-Kona’s Aliʻi Drive corridor
• Keauhou Resort
• Waikoloa Beach Resort
• Mauna Lani and Mauna Kea Resorts

1. These areas often have condos designed explicitly for vacation use.

STVR Permits:
Outside of resort-zoned districts, you’ll likely need a nonconforming use permit issued by Hawaii County. These permits are limited and must be renewed annually.
Learn more:

• Hawaii County STVR Guidelines
• STVR FAQ & Ordinance Details

HOA Restrictions:
Even in legally zoned areas, your condo association (AOAO) may prohibit or restrict short-term rentals. Always review the governing documents (CC&Rs, house rules) before making a purchase.

Licensing & Taxes:

Vacation rental owners must register with the State of Hawaii and obtain:

• General Excise Tax (GET) license
• Transient Accommodations Tax (TAT) license

1. » These can be obtained at hitax.hawaii.gov.

Helpful Resources:

• Big Island Condo Listings with STVR Potential »
• Big Island Luxury Condos for Investment »
• Contact Penn for a List of STVR-Friendly Condos »

Homeowners Association (HOA) fees—also referred to as maintenance or association dues—are common in condos in Hawaii and vary widely depending on location, amenities, and building type. On the Big Island, the cost can range from $300 to over $1,800 per month.

What Do HOA (Maintenance) Fees Typically Cover?

Exterior Building Maintenance
Roof, paint, structural upkeep, and common area repairs.

Common Utilities
Water, sewer, trash collection, and sometimes cable TV or internet.

Landscaping & Groundskeeping
Regular care of lawns, gardens, and walkways.

Amenities
Pools, spas, fitness centers, tennis courts, BBQ areas, gated security, and elevators.

Onsite Management or Reserve Funding
Many associations contribute to a reserve fund for future repairs and capital improvements.

Factors That Influence Fee Amounts:

Location:
Oceanfront and resort condos often carry higher dues due to their premium amenities and proximity to saltwater.

Age of Building:
Older buildings may require more maintenance and future capital improvements.

Size of Complex:
Smaller complexes may have fewer shared costs, but sometimes higher per-unit expenses.

Additional Fees:

Special Assessments:
These are one-time charges levied to fund major repairs (e.g., roof replacement, seawall repair).

Reserves vs. Underfunded HOAs:
Well-funded associations are less likely to surprise owners with unexpected costs. Always review the HOA’s reserve study and financials during escrow.

Helpful Resources:

• Explore Big Island Condos »
• Luxury Condos with Premium Amenities »
• Contact Penn for HOA Info on Specific Properties »

Many condos in Hawaii—especially on the Big Island—are sold fully or partially furnished, but this isn’t guaranteed. It depends on the property, the seller, and how the unit has been used (e.g., as a primary residence vs. a vacation rental).

Common Scenarios:

• Vacation Rentals:
  Condos that have been used as short-term vacation rentals (STVRs) are often sold turnkey—fully furnished with furniture, linens, kitchenware, and decor. This appeals to buyers looking to continue renting without delay.

• Second Homes:
  Owners of second homes often leave their furnishings behind, especially larger pieces such as beds, sofas, and dining sets.

• Primary Residences:
  These may be less likely to include furnishings, though sellers sometimes offer furniture packages or include items in negotiations.

What to Look For:

• MLS Remarks:
  Listings will typically note “furnished,” “partially furnished,” or “unfurnished.”

• Inventory Lists:
  A detailed inventory list is often included during escrow to specify what stays and what goes.

• Condition & Style:
  Some furnishings may be dated or overly personal in style. Consider your own preferences when evaluating included items.

Tip:
If you plan to use the condo as a vacation rental, purchasing a furnished, short-term vacation rental (STVR)- ready unit can save time and money on setup.

Helpful Resources:

• Big Island Condos for Sale »
• Big Island Condos with STVR Potential »
• Contact Penn for Furnished Condo Listings »

The Big Island is home to some of Hawaii’s most exclusive luxury condo communities, especially along the sun-drenched Kohala Coast and in parts of North Kona. These properties often feature ocean views, resort-style amenities, and proximity to golf, beaches, and five-star resorts.

Premier Areas for Luxury Condos:

Mauna Lani Resort:
Known for elegant condo enclaves with high-end finishes, private garages, and access to the Mauna Lani Beach Club:

• Mauna Lani Point
• The Islands at Mauna Lani
• Ka Milo
• Fairways at Mauna Lani
• View All Mauna Lani Luxury Condos »

Mauna Kea Resort:
Offers ultra-luxury beachfront condos, some with direct access to Hapuna Beach:

• Hapuna Beach Residences
• Kumulani at the Uplands
• View All Mauna Kea Luxury Condos »

Waikoloa Beach Resort:
Popular for buyers wanting resort access without sacrificing square footage or style:

• Haliʻi Kai (known for its oceanfront pool and bar)
• Kolea Villas (gated, beachfront access)
• Vista Waikoloa
• View All Waikoloa Beach Luxury Condos »

North Kona (Kailua-Kona & Keauhou):
Oceanfront luxury condos are harder to come by but exist in smaller boutique-style complexes:

• Kohanaiki
• Kona Onenalo
• Hale Kai O Keauhou
• The Villas at Keauhou Estates
• View All Kona Luxury Condos »

Features of Luxury Condos in Hawaii:

• Gated communities
• Resort memberships or club access
• Oceanfront pools, spas, and fitness centers
• High ceilings, designer kitchens, and lanais
• Vacation rental eligibility in select zones

Helpful Resources:

• Big Island Luxury Condos for Sale »
• Big Island Luxury Real Estate »
• Contact Penn for Private Showings and Off-Market Listings »

Some condo communities on the Big Island are pet-friendly, but rules vary significantly by complex. If you're moving with a dog or cat, it’s important to verify the pet policy before making an offer. » Your best bet is to contact Penn with your specific pet questions. He generally knows the policies for various areas and complexes.

Typical Pet Rules in Big Island Condos:

Size & Weight Limits:
Some associations allow dogs under 25–35 lbs. Larger breeds may be restricted, especially in older buildings or resort-style communities.

Number of Pets:
Most condos allow one to two pets per unit, although this can vary by association.

Breed Restrictions:
A few condos prohibit specific breeds considered aggressive, regardless of size or behavior.

Owner vs. Renter Rules:
Some complexes allow pets for owners but not for tenants or vacation renters, which is critical if you're considering the unit as a short-term rental investment.

Additional Considerations on the Big Island:

Kailua-Kona & Keauhou:
Many condo complexes in Kona permit pets, although with certain restrictions. For example, Alii Lani and Kona Sea Ridge are known to be pet-friendly, with certain restrictions.

Waikoloa Village:
Some condos here allow pets, but be sure to check if the walking areas are adequate, especially in drier, hotter climates.

Resort Communities:
Pet policies at Mauna Lani, Mauna Kea, and Hualalai Resort condos vary, often depending on HOA rules and luxury-level expectations.

Noise and Cleanliness Rules:

Most HOAs enforce quiet hours and have cleanliness standards to avoid issues with pet noise or waste in common areas.

Tip:
Always ask to review the CC&Rs (Covenants, Conditions & Restrictions) and House Rules before closing. These will outline detailed pet policies and any updates.

Helpful Resources:

• Big Island Condos for Sale »
• Contact Penn for a List of Pet-Friendly Condos »
• Hawaii Quarantine Rules for Pets »

While Hawaii is often associated with luxury properties and high price tags, the Big Island offers some of the most affordable condo options in the state, particularly when compared to Oʻahu or Maui. With thoughtful searching and expert guidance, you can find quality condos that suit a range of budgets.

Top Areas for Affordable Condos on the Big Island:

Kailua-Kona:
Several condo complexes near town offer great value for location and amenities. These tend to be older buildings, but they are often well-maintained and conveniently located near beaches and shopping areas. Examples include:

• Alii Lani
• Kona Kai
• Kona Mansions
• Kona Westwind
• View All Kona Condos Under $500K »

Waikoloa Village:
Inland from the coast, Waikoloa Village offers lower prices with a cooler climate and access to grocery stores, schools, and golf:

• Fairway Terrace
• Paniolo Club
• Elima Lani Condominiums
• View All Waikoloa Condos Under $500K »

South Kona / Captain Cook:
Fewer condos, but some small, hidden-gem complexes like Kona Coffee Villas offer value, views, and local flavor.

Hilo (East Hawaii):
The Hilo side is generally more affordable, but keep in mind that East Hawaii receives more rainfall and is more humid than West Hawaii. Here are some options:

• Waiakea Villas
• Bayshore Towers
• Maunakai Apartments
• View All Hilo Condos Under $500K »

Considerations for Budget-Conscious Buyers:

Leasehold vs. Fee Simple:
Some affordable units are leasehold. These properties are often priced lower but come with added considerations (e.g., lease expiration, rent renegotiation).

HOA Fees Matter:
High monthly dues can sometimes offset lower purchase prices. Always evaluate the total cost of ownership.

Financing May Be Limited:
Older complexes or leasehold units may have limited lending options. Work with a lender experienced in Hawaii condo financing.

Helpful Resources:

• Search Big Island Condos »
• Contact Penn to Find the Best Condo Deals »
• Hawaii Buyer’s Guide »

While the Big Island is known for its open space and custom homes, several well-established areas offer a wide range of condominium living options—from affordable residences to luxury resort villas.

Top Areas with Condos on the Big Island:

Kailua-Kona (North Kona):
The most active condo market on the island, especially along Aliʻi Drive and near downtown Kona, with convenient access to restaurants, beaches, and shops. Popular complexes include:

• Alii Lani
• Kona Sea Ridge
• Alii Cove
• Kona Pacific
• Alii Villas
• Casa de Emdeko
• View All Kona Condos »

Keauhou:
Just south of Kona, Keauhou offers more privacy with larger units and ocean views. Great for golfers, ocean lovers, and vacation rentals. Notable developments include:

• Keauhou Surf & Racquet Club
• Country Club Villas
• Kanaloa at Kona
• Na Hale O' Keauhou
• View All Keauhou Condos »

Waikoloa Beach Resort:
A master-planned resort community with luxury condos near Anaehoʻomalu Bay (A-Bay), shopping, and golf courses:

• Haliʻi Kai
• Waikoloa Beach Villas
• Vista Waikoloa
• Fairway Villas
• View All Waikoloa Beach Condos »

Mauna Lani Resort:
Upscale resort living with exclusive condo enclaves like:

• Mauna Lani Point
• The Islands at Mauna Lani
• Fairways at Mauna Lani
• View All Mauna Lani Condos »

Mauna Kea Resort:

Home to some of the most prestigious beachfront condos on the island, including:

• Hapuna Beach Residences
• Amaui Villas
• Kumulani at the Uplands
• View All Mauna Kea Condos »

Waikoloa Village:
An inland alternative - great for full-time residents and long-term rentals, with more affordable options like:

• Elima Lani
• Waikoloa Hills
• Fairway Terrace
• View All Waikoloa Village Condos »

Hilo (East Hawaii):
Limited condo inventory, but notable options include:

• Bayshore Towers
• Waiakea Villas
• View All Hilo Condos »

Helpful Resources:

• Big Island Condos for Sale »
• Luxury Condos on the Big Island »
• Contact Penn to Find the Right Condo Community »

Yes. You can make renovations, but with restrictions. While you own the interior of your condo, you don’t have full autonomy like you would in a single-family home. Any changes must comply with the condo’s association rules and may require written approval.

What You Can Usually Renovate:

• Interior Upgrades:
  Flooring, cabinetry, countertops, lighting, paint, and appliances are typically within your control, pending HOA guidelines.

• Bathroom & Kitchen Remodels:
  Allowed in many cases, but modifications involving plumbing, electrical, or structural changes will require permits and board approval.

• Window AC Units or Fans:
  May be allowed, but often require approval due to concerns about uniformity and exterior appearance.

What You Likely Cannot Alter:

• Exterior Walls or Lanai Railings:
  Considered common elements and typically off-limits to individual modification.

• Structural Walls or Utility Systems:
  These may serve multiple units and cannot be changed without professional review and HOA consent.

• Common Areas:
  Any shared property (hallways, walkways, landscaping) is managed by the HOA and not subject to private renovation.

Approval Process:

1.) Submit Renovation Plans to the HOA Board

• Include contractor info, timeline, and scope of work.

2.) Obtain Necessary Permits

• The County of Hawaiʻi Department of Public Works handles permitting.

3.) Follow Noise and Work Hour Guidelines

• Most HOAs limit construction hours and require advanced notice to neighbors.

Helpful Resources:

• Big Island Condos for Sale »
• Contact Penn for Advice on Condo Renovations »
• Hawaii County Permitting Info

While it’s possible to purchase a condo without a buyer’s agent, having professional representation is highly recommended—especially in Hawaii, where real estate laws, ownership structures, and condo-specific rules differ from the mainland.

Why Work with a Local Agent:

Understanding Leasehold vs. Fee Simple:
A local agent can help you avoid surprises by explaining the legal and financial differences between these two ownership types, which are more common in Hawaii than elsewhere.

Guidance on HOA Rules, Fees & Restrictions:
Your agent will help you review pet policies, vacation rental rules, reserve funding, and other important details before submitting an offer.

Expert Navigation of Local Escrow & Title Process:
Hawaii’s real estate system has unique steps, timelines, and regional customs. A knowledgeable agent ensures nothing is overlooked.

Access to Off-Market & Upcoming Listings:
Many luxury and investment properties are not publicly listed. Agents often have insider access to these opportunities.

Contract Negotiation & Due Diligence:
Your agent works to protect your interests, helps coordinate inspections, reviews condo documents, and ensures key deadlines are met.

Helpful Resources:

• Search Big Island Condos »
• Big Island Buyer Representation »
• View Penn's Big Island Buyer’s Guide »
• Contact Penn to Get Started »