Kauai is a beautiful island with so much to offer. Whether you are looking to move here permanently or purchase a vacation home, you should prepare yourself for the home buying process in Kauai.
Since each state does things differently, Hawaii’s home buying process may be different from where you currently live. Let’s take a look at the home buying process on Kauai.
Before you set out in search of your Kauai dream home, you should know the prices here are much higher than in other places. In fact, Kauai has some of the highest home prices in the entire country.
This is largely because most of the land in Kauai is preserved and cannot be built on. Like many other places, demand for homes is extremely high, which has further driven up prices. In other words, be prepared to spend more than you may have initially wanted to.
In determining your budget, you will need to decide the amenities you would like your home to have. How many bedrooms do you need? Would you be willing to pay the price that comes with buying a home with an ocean view?
Which part of the island do you plan on moving to? These things will play into how much you should plan on spending and make the house hunting part of the process much easier.
A crucial step in the home buying process is finding the right professionals to guide you through the process. You will need a real estate agent who can educate you on the market conditions, show you homes that match your home search criteria, and know local real estate customs and negotiation tactics.
Since you have already determined which part of the island you are interested in, you should also find an agent specializing in that area. If you have your heart set on Poipu, it would not be wise to hire an agent specializing in Princeville since the market can be very different there.
At the same time, you should find a lender you feel comfortable with and is knowledgeable in the type of property you plan on buying. Your lender and real estate agent will work closely to ensure all deadlines are met once you find a home you’d like to purchase.
At the same time, you should find a lender you feel comfortable with and is knowledgeable in the type of property you plan on buying. Your lender and real estate agent will work closely to ensure all deadlines are met once you find a home you’d like to purchase.
Once you have all of the prep work completed, it is time to go shopping. This will be a lot of fun because the homes in Kauai are spectacular. Regardless of your budget, you will be treated to stunning views and may even get to see parts of the island you’ve never seen before.
Like I mentioned earlier, the demand for homes is high, so when you find a home you like, make an offer quickly, so you don’t miss out. Once your offer is accepted, you will enter into “escrow.” Now the real fun begins as we work toward making you a homeowner.
Escrow in Kauai usually lasts 30-60 days. A lot happens during this time, but your real estate professionals handle most. Here is a brief outline of what is to come:
In Kauai, closing using occurs 2-3 days after you sign your loan documents. You will have to wait for the loan to be funded and the title to be recorded with the county or proper municipality. Once that happens, you will be handed the keys to your Kauai dream home!
If you’d like to purchase a home in Kauai, we are here to help guide you through the process. Please give us a call or send us a message to get the process started.