The Army Corps of Engineers had the Homeowners Assitance Program during the recession of 2007 to 2011 that assisted Service Members who were upside down on their mortgages. There were certain criteria that had to be met such as that you must have purchased the property between certain dates as your primary residence and that you must have received that sent you away from the home you purchased. If you met the criteria then the HAP program in Hawaii contributed the difference between what you sold the house for and what your mortgage balance was. The Service Member who sold the house did not make any profit but the HAP program saved the Service Member from doing a short sale or from going into foreclosure.

David Kucic and Hawaii Military Realty, Inc. assisted several Service Members with HAP sales during the recession.

As I look at the current housing market in Ewa Beach, Hawaii, I see a grim picture for Service Members who purchased homes duriing the pandemic and will soon be on orders to leave Hawaii. Many homes are stagnant on the market because of the large amount of homes for sale and the hesitation of Buyers to purchase a home due to the uncertainty of the future, home prices, inflation and interest rates to name a few.

If you are a Service Member in a difficult situation, please dont hesitate to contact Hawaii Military Realty, Inc for honest and truthful information. You will deal with our team of career, retired Service Members, spouses and active Service Members who are all professionally trained and licensed to take care of our fellow Members.

Unfortunately, I am predicting that there will be short sales on the market within the next 1 to 2 years. I worked approximately 100 short sales for Buyers and Sellers during the recession for both military families and civilians using both VA loans in Hawaii and conventional loans in Hawaii.

What is a short sale? It is when the balance of your mortgage is greater than what you can sell your house for.

Over the past 2 years we have seen a dramatic increase in home prices including Ewa Beach and Kapolei. All of the neighborhoods of Ka Makana at Hoakalei, Kuapapa at Hoakalei, Kipuka at Hoakalei, Lei Pauku at Hoakalei and all of the Ewa by Gentry saw these great price increases.

My concern is mostly for military families in Hawaii who purchased their homes within the past 2 years and will need to leave Hawaii on PCS orders within the next 1 to 2 years. If these military families cannot sell their homes because either the market is flooded with listings or the prices have decreased to an amount below their mortgage balance, they may be forced into a short sale.

They still have the option of renting the house but lets look at some numbers which is what made me write this post in the first place. Lets say a military member purchased a home for $1,000,000 in 2021 using a 100% financed VA loan at 4% interest rate. The mortgage payment including principal, interest, taxes, insurance and HOA fee is approximately $5,000 to $5,200 per month. The average median price for a single family home in 2021 was around $1,000,000 so we can then assume that the home that the military member purchased was a 3 to 4 bedroom single family home with 1,700 SF of livng space, a 2 car garage and a lot size of around 5,000 SF. Hawaii Military Realty, Inc. manages rental properties in Ewa Beach and Kapolei so we know that a home such as this one will rent for somewhere between $3,600 and $4,000 per month depending on whether the house has solar electric panels, nicely upgraded, pet friendly or not and the rent covers items such as cable TV, internet, swimming pool and fitness center. The normal property management fee is 10% of the collected rent so if we aim for the high end and say the house can rent for $4,000 per month then the amount the owner will collect each month would be $3,600 or $1,400 less than what their mortgage payment is. This doesnt even include items such as the Owner having to pay Hawaii General Excise Tax (GET) of 4.712% or any repairs done to the property during the Tenants occupancy. Many military families cannot afford to come up with that deficit of $1,400 per month and this is why I believe short sales will be prevelant in the next 1 to 2 years.

For any military family that is in this predicament, feel free to reach out to Hawaii Military Realty, Inc. as we consider ourselves to be short sale experts and will help you to navigate through the process. With your help and dedication to getting the short sale completed, we can get your home sold and allow you to move on with your life.

I certainly hope that my prediction is not correct and that we may not see short sales but all signs are pointing toward them.

As of April 20, 2017, we have the following properties that will be available for rent in the month of May 2017.

Ocean Pointe 4 bedroom, 3.5 bathroom, 2500 sf single family house with a separate mother in law/guest suite. $3400 per month. Available 1st week of May 2017.

Ka Makana at Hoakalei 3 bedroom, 2 bathroom with den/study and PV electric. Cable, internet, phone, yard service, tennis courts, fitness center, community pool included. $3400 per month. Available Mid May 2017.

EWA BEACH SINGLE FAMILY HOUSE FOR RENT
AVAILABLE SEP 5, 2016 ($3,650 PER MONTH)
LESS THAN 2 YEARS OLD
RENT INCLUDES:  ELECTRICITY, WATER, TRASH,
HIGH SPEED INTERNET, HOME PHONE, CABLE TV,
USE OF COMMUNITY POOL AND RECREATION AREA.
GATED COMMUNITY.  CENTRAL AIR CONDITIONING
AND ALL APPLIANCES INCLUDED.  FOUR BEDROOMS,
3 BATHROOMS AND 2 CAR GARAGE PLUS A FENCED YARD.
FOR MORE INFORMATION, CALL 1SG (RET) DAVID KUCIC
HAWAII MILITARY REALTY (808) 218-9338.

Available May 3, 2015.  Water, sewer, trash, cable tv, internet, home phone, fitness center, swimming pool and tennis courts are included in the rent.
Two story townhome in the resort community of Ka Makana at Hoakalei in Ewa Beach, Hawaii with private fenced backyard, wood floors, stainless steel appliances, central AC and a 2 car garage with automatic opener.
Great property and wont last long!  $2,800 per month.
For your private showing contact 1SG (Retired) David Kucic, Hawaii Military Realty, Inc. (808) 218-9338 or email to hawaiikucic@gmail.com.

FOR RENT AND AVAILABLE MAY 5, 2015. PETS NEGOTIABLE DEPENDING ON TYPE, SIZE, BREED AND AMOUNT. $2,800 per month. Water, Sewer, Trash, Cable TV, Internet, Telephone, Fitness Center, Swimming Pool Access, Tennis Courts are ALL INCLUDED IN THE RENT! This townhouse is just a few years old. Solar hot water tank will save you money on electricity costs. Walk to Pool, Fitness Center, Tennis Courts (about 100 yards). Located on Hoakalei Country Club premises with AWESOME golf course. Call 1SG Retired David Kucic, President and Owner, Hawaii Military Realty, Inc. at (808) 218-9338.

BEAUTIFUL HOME FOR RENT!  Less than a mile’s walk to the beach, this beautiful 2600 sq ft home is one of the largest in the highly sought after Ocean Pointe community and is the perfect example of Hawaiian living. The upgraded tropical backyard includes a large covered lanai that acts as an extra living room – flat screen TV mount is included and is cable ready. In addition to a 2-car garage, the extra covered carport can be transformed into an outdoor workout space or game room. The open concept inside the house is great for entertaining. The kitchen has a large island, lots of counter space, and ample storage. The first floor also has a bedroom and full bath, offering a private area for visitors. The second floor includes a large master suite with walk-in closet, his and her sinks, and garden tub. It also has 2 additional bedrooms, full bath, and a bonus space for a home office.
The neighborhood is very military friendly and contains many parks for the kids and dogs. The community is near shopping, dining, golf courses, schools, and public transportation. All appliances included. The house gets great tradewinds, but has central AC for those warm summer months. Yard service is included so you can enjoy your weekends off. It is move in ready and easy to show. Pets allowed depending on breed and size.

$4,000 PER MONTH AVAILABLE ASAP.

For a private showing, contact First Sergeant (Retired) David Kucic via EMAIL TO DAVID@DAVIDKUCIC.COM
HAWAII MILITARY REALTY IS THE ONLY REAL ESTATE BROKERAGE IN HAWAII DEDICATED TO SERVING THE HOME PURCHASING, SELLING AND RENTING OF PROPERTY ON OAHU. EMAIL DAVID FOR ALL OF YOUR REAL ESTATE NEEDS

House For Rent in Hoakalei Resort, Ewa Beach, Hawaii.  Available May 15, 2015 at $4700 per month.  (pet friendly depending on type, size, breed and amount)
Full solar electric (photovoltaic) and also solar hot water on this house. Included in the rent are: cable tv, internet, home phone, use of community pool, fitness center and tennis courts. Also, front and backyard lawn mowing and trimming of grass edges.
Owners normal electric bills are less than $100 per month. Depending on your usage, you could have the same, more or less.
This home is at the end of the road on a quiet street. It has million dollar homes across the street which line the 9th fairway of the private Hoakalei Country Club golf course.
Featuring 4 bedrooms, 3 bathrooms, 2 car detached garage. It also has all appliances, central air conditioning too.
For your private showing SEND AN EMAIL TO DAVID@DAVIDKUCIC.COM.
DAVID KUCIC, REALTOR, PROPERTY MANAGER
FIRST SERGEANT, USA (RETIRED)

For Rent.  Available May 1, 2015.  $3,600 per month.  Rarely available single level home with 10′ foot ceilings in the resort community of Ka Makana at Hoakalei resort in Ewa Beach, Hawaii.
This home has 3 bedrooms PLUS A DEN/STUDY/OFFICE, 2 bathrooms, 2 car garage, fenced yard, landscaped.
The rent includes cable tv, high speed internet, home telephone, use of the community swimming pool, tennis courts and fitness center.  It also includes FRONT YARD lawn maintenance.
For your private showing, please contact David Kucic, First Sergeant, USA (Retired) of Hawaii Military Realty, Inc.
Hawaii Military Realty, Inc. is the ONLY real estate brokerage on Oahu that is dedicated to serving the needs of the Armed Forces, DOD Employees, Retirees and Veterans.  We specialize in Home Sales, Home Purchases and Property Management on Oahu.