This is something that you should know about a VA Loan in Hawaii.

Assuming you are  eligible for a VA Loan in Hawaii and have enough active duty service to qualify for the lowest “VA Funding Fee”, you will pay an additional 2.15% of the loan amount (3.3% if you are using the VA Loan for a second or third time) when you purchase a home in Hawaii.  Conventional loans have “Mortgage Insurance” when the down payment is less than 20%.  VA Loans in Hawaii have a “VA Funding Fee“.

The difference between the Hawaii VA Loan and the Conventional Loan in Hawaii is that the Mortgage Insurance is an additional monthly charge that you pay on top of your principal, interest, taxes and insurance.

With the VA Funding Fee, the 2.15% gets “rolled into the loan”.  For example, if you buy a piece of real estate on Oahu for $400,000, your actual total loan amount will be 400,000 + 2.15% = $408,600.

The purpose of the VA Funding Fee on Hawaii VA Loans is the same as Mortgage Insurance on Hawaii Conventional Loans:  They insure the lender in case the Buyer defaults on the loan.

For more information on purchasing real estate in Hawaii or to view properties on the Hawaii MLS, visit my homepage and click on the Quick Search Tab.

Aloha and Happy House Hunting!

A 4 bedroom home in Ewa Beach, Hawaii for under 500k will soon be on the market and it is NOT a short sale!  With many short sales on the market as part of the Hawaii real estate landscape, it isnt very often that something comes availalbe that is not a short sale.

This home meets the criteria for a Hawaii VA Loan, USDA Financing, Conventional Financing and FHA Financing.  Cash is also acceptable!

This one will not last.  If you are interested, contact me ASAP.  If you are currently working with a real estate professional, have your agent contact me.

To view ALL available Oahu Real Estate, click on the Search Properties link on my homepage.

VA Loans in Hawaii are still the most common way for service members to purchase real estate in Hawaii.

The reason is simple:  Service members can get 100% financing at a competitive interest rate with ZERO money down.

Why is it beneficial for a service member to use their VA Loan Eligibility on a piece of real estate in Hawaii?

That answer is also simple.  The use of a VA Loan in Hawaii with ZERO money down is the main attraction.  If the Service member was to opt for a Conventional Loan, the Service member would be looking at a 20% down payment.   Since single family home prices on Oahu are around $500,000, that means the down payment would be around $100,000.  Not many service members have that kind of money laying around.

If the service member was to opt for an FHA loan, that is still a 3.5% down payment or $17,500.  Once again, not many of my service member brothers and sisters have that kind of money to spend on a down payment.

So if the Service member uses their VA loan elibility in Hawaii and subesequently PCS’s to the mainland and wants to buy another house, since home prices are much lower in MANY parts of the mainland, the down payment of 20% or 3.5% is much less.  For example, with a 20% down payment for a brand new home in the Ft Hood, Texas area at around 150k, the down payment amount would be $30,000 rather than the $100,000 in Hawaii.

If the Service member opted for an FHA loan in Texas, the down payment of 3.5% on a $150,000 house would be $5,250.

For more questions about your VA Loan Eligibility in Hawaii, contact First Sergeant, Retired and real estate broker in Hawaii, David Kucic at (808) 218-9338 or email me at david@davidkucic.com.  You are in good hands with one of your fellow veterans taking care of you.

Did you know that the VA does not give you the money when you obtain a VA Loan in Hawaii?  The money comes from a lender such as a bank or mortgage company.

When you see ads for “Hawaii VA Loans“, this simply means that that particular lender is authorized to provide VA Loans in Hawaii.  FYI, almost all lenders are authorized to provide VA Loans in Hawaii.

Do not believe that these lenders have ANY affiliation whatsoever with the VA.  These lenders are NOT government agencies.

For more information about VA Loans in Hawaii, just ask me!  I dont do loans but I can point you in the direction of reputable people that do.

I have 3 upcoming listings in Ewa Beach.   If you know Ewa Beach real estate and want to know about properties BEFORE everyone else then this is your chance.  How many times have you wanted to buy a property but by the time you found out about it, the Sellers already had offers on it?  This is especially true on Short Sales in Ewa Beach. 

1.  3 br, 2.5 bathroom, 2 car garage, end unit townhouse located very near the new Ka Makana Subdivision and Hoakalei Country Club in Ewa Beach.  This is a short sale and will probably be listed for around 330-350k. 

2.  2 br, 2 ba, 2 car garage, 2nd story condo (I have 2 of these available).  Located in the ONLY secured, private, gated community known as The Arbors in Ewa Beach.  Both of these units have over 1,000 sf of interior living space and are available immediately.  Both of these properties are Hawaii HAP Sales.   If you are unfamiliar with HAP Sales, please call me.  They are NOT DIFFICULT and DO NOT TAKE NEARLY AS LONG AS HAWAII SHORT SALES TO GET APPROVED.  Both of these Hawaii HAP Sales will be pushed to the top of the pile in the HAP’s Sacramento, California office due to the length of time that is has been since the service members departed Hawaii.

Each unit will be listed at $309,000.

The VA Loan Guaranty Office in Hawaii is located at Tripler Army Medical Center on Oahu.   It is on the makai side of the building (facing the ocean).  If you are facing Tripler, the VA office is located on ground level on the right, front side of the building.

If you are a vetaran eligible for a VA Home Loan in Hawaii and need help or assistance with the value of your appraisal, slow appraiser or help in regards to your VA loan eligibility, you are better off walking into this office, signing in and having a seat.  Trying to call them is virtually impossible since they routinely dont answer phone calls and dont return phone calls.

1SG (Ret) Kucic of RE/MAX Honolulu reports on Understanding Oahu Property Addresses.

 Have you been looking on line for Hawaii Real Estate For Saleand are wondering what our numbering system is on Oahu in regards to property addresses such as:  91-1234 Ft. Weaver Road or 95-6789 Kamehameha Highway?

The first two numbers refer to the postal code.  Just to name a few, Ewa Beach, Hawaii is 91, Kapolei, Hawaii is 91 and 92, Waipahu and parts of Mililani are 94, Mililani and Mililani Mauka are 95.

If you are familiar with these postal codes, you will immediately know what part of the island the property is located on once you hear or see the address.

There are many houses on the island that do not use the postal codes but the majority of them do use it.

Here is a list of the postal codes.  All of the numbers on this list start with a “1” which means that it is on Oahu.  The other Hawaiian islands have their own numbers such as 2, 3 , 4 etc…

temponeighborhoods

For all of your Hawaii Real Estate needs, contact Team Kucic of RE/MAX Honolulu.  Your Hawaii VA Loan, Short Sale and Hawaii HAP Specialists.  Serving members of the Armed Forces in Hawaii at Schofield Barracks, Wheeler Army Airfield, Kunia Tunnel, Fort Shafter, Hickam Air Force Base, Pearl Harbor, Marine Corps Base Hawaii, Camp Smith and Tripler Army Medical Center.

The city of Mililani, Hawaii consists of 2 separate locations that are referred to as “Mililani Town” and “Mililani Mauka“.

Mililani Town mostly consists of older homes that were built starting in the early to mid 1960’s.  Mililani Town is located west of the H-2 highway.  In Mililani Town, you can find single family homes of a variety of sizes and some with with generous lot sizes, townhouses and condominiums. 

Mililani Mauka which is east of the H-2 highway has newer homes that were built starting in the early 1990’s.  The word “Mauka” means “toward the mountain”.  Mililani Mauka is built on the side of the mountain heading up towards the top.  The earliest phases of construction started at the bottom of the mountain and the last phase ended up much higher.

Military personnel that are relocating to Hawaii love Mililani Mauka and Mililani Town because it is very close to Schofield Barracks (Tropic Lightning), Wheeler Army Airfield and Kunia Tunnel (approximately a 10-15 minute drive).  It is also very conveniently located close to Hickam Air Force Base, Pearl Harbor, Tripler Army Medical Center and Camp Smith.  The drive to the latter bases is a little longer at 20-30 minutes.

Home prices in Mililani Town and Mililani Mauka range from the mid 200’s for a condominium to over 1 million dollars for a single family home.  Every single family home in Mililani, Hawaii is eligible for purchase with a Hawaii VA Home Loan and ALMOST every townhouse and condominium in Mililani is eligible for purchase with a Hawaii VA Home Loan.

Mililani, Hawaii is located in Central Oahu.

The Homeowners Assistance Program in Hawaii or, as it is more commonly referred to as the HAP is widely being used by Active Duty Military in Hawaii.

The program is designed to help Service Members in Hawaii with selling their homes and the HAP makes up all or some of the shortage.  Be aware that you may get a Form 1099 and you will have to claim the amount of money brought in by HAP as income.  Consult your tax professional for further details.

This is only available to Active Duty Military in Hawaii that meet certain criteria.  The exact criteria can be found at http://hap.usace.army.mil/EP_PCS.html.

Here is another very important fact about the HAP that many Active Duty Military Veterans in Hawaii are not aware of.   If the Military Member purchased the house using a VA Loan in Hawaii and the HAP doesn’t cover 100% of loss, the VA Loan Guaranty might pick up the rest of the shortage so that the Military Veteran doesn’t have to come out of pocket with any money.  I am working on a HAP right now for an Army Helicopter Pilot who has this exact scenario.

If you own real estate in Hawaii, are an active duty service member and you need more information about HAP or short sales in Hawaii, call or email me anytime for a personal and confidential assessment of your situation.

New Upcoming Homes For Sale on Oahu:

1.  3 br, 2.5 bathroom, single family home in great condition.  Over 1,700 sf of interior living space, a 2 car garage and located on the 3rd hole of the Coral Creek Golf Course in Ewa Beach, Hawaii.  Built in 2003.   Priced at $529,900.  This is NOT a short sale and is available immediately.  Approved for VA Loan usage.

2.  1 br, 1 bathroom condo on the 19th floor of Honolulu   Tower in the heart of downtown.  One parking stall, great city and mountain views.  Walk to shopping, restaraunts, work or use the great Oahu public transportion.  Priced at $330,000 fee simple.  This is a short sale.  This building is approved for VA Loan usage and is also pet friendly.