Archive | Featured RSS feed for this section

Homeowners Assistance Program (HAP) July 25, 2022

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.

I Predict Short Sales Are Coming Soon July 20, 2022

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.

May 2022: Hoakalei Country Club golf course home. David Kucic is proud to announce his new listing priced at $2,200,000.00. Model #6010. Coming soon! The home is solar equipped with 28 OWNED PV panels on the original NEM program with HECO and 2 solar hot water panels. Located on the 13th tee box of the renowned Hoakalei Country Club golf course home of the LPGA Lotte Championship. This home is move-in ready and is in great condition. The views are of the 13th tee box and fairway and 10th green and fairway. Featuring 4 bedrooms plus a den/office on the first floor, 3.5 bathrooms, two car garage with driveway parking. There is one bedroom and full bathroom on the 1st floor. The remaining 3 bedrooms are on the 2nd floor. This is the 60.10 model which does not come on the market very often. Amenities of the neighborhood are a swimming pool, hot tub and BBQ grills. The association fee includes Spectrum provided high speed internet, cable TV, and phone and membership to the Wai Kai Hale Beach Club, a private beach on the Hoakalei Lagoon.

DCIM\100MEDIA\DJI_0128.JPG
DCIM\100MEDIA\DJI_0135.JPG

LPGA Lotte Golf Tournament 2022 to be Played at Hoakalei Country Club in Ewa Beach, Hawaii

The Lotte will be played at Hoakalei Country Club in 2022. This will be the first LPGA/PGA Tour Event that is being played at Hoakalei Country Club. The course was opened in late 2008 in the Hoakalei Resort Community located in Ewa Beach, Hawaii. The resort neighborhoods are: Ka Makana, Kuapapa, Kipuka and Lei Pauku. Homes in this community range from townhomes selling in the mid $700,000 up to large golf course frontage single family homes priced around $2,000,000. This area is one of the most desirable areas of the island for buyers to purchase thier Hawaii home.

2022: Oahu, Hawaii Home Prices Went Up and BAH Went Down

How does that make any sense? Rent and purchase prices have continually gone up on Oahu yet BAH rates have gone down. Something doesn’t add up.

Oct 2021: Did the Ewa Beach housing market just put the brakes on overbidding and multiple offers? It seems to be true. In the past year (Oct 2020 to Sep 2021) there were multiple offers, overbidding, appraisal clauses, escalation clauses and low inventory. That seems to have changed in many Ewa Beach, Hawaii neighborhoods. Consult with your Realtor for more information before you make a mistake by overbidding or adding an unnecessary clause in your contract.

Hawaii Military Realty recent home sales in 2021. Another record year for success for our clients who are Military, Veterans, Government Employees, Contractors and Civilians.

Waikiki $1,650,000.00

Ewa Beach $580,000.00

Ewa Beach $505,000.00

Ewa Beach $843,200.00

Kailua $1,900,000.00

Ewa Beach $810,000.00

Ewa Beach $1,008,000.00

Ewa Beach $1,100,000.00

Makakilo $855,000.00

Ewa Beach $962,000.00

Ewa Beach $950,000.00

Ewa Beach $1,075,000.00

Ewa Beach $1,200,000.00

Ewa Beach $1,325,000.00

Ewa Beach $1,373,775.00

Makakilo $950,000.00

Makakilo $1,185,000.00

Kapolei $530,000.00

Ewa Beach $775,000.00

Ewa Beach $829,000.00

Ewa Beach $960,000.00

Ewa Beach $680,000.00

Waikele $415,000.00

Waipio $430,000.00

Ewa Beach $745,000.00

Waikiki $4,000,000.00

Ewa Beach $1,715,000.00

June 9, 2021 Hawaii Military Realty, Inc Lists Home For Sale in Ka Makana at Hoakalei Resort in Ewa Beach, HI

Come and view this beautiful 4030 Milo series home nicely located on a corner lot in Kamakana at Hoakalei. Very little through traffic and small park in close proximity. Great floor plan with 4 bedrooms, 2 ½ baths with 2288 interior square feet. Extended Lanai and small courtyard are two special areas in this yard to enjoy privacy as well as a covered front porch. If you’re an avid gardener, you’ll love the many fruit trees, water gardens, new sod and beautiful landscaping this home has to offer. Amenities include 20 owned PV panels with a Tesla Powerwall 2 Battery, solar hot water heater, SS appliances, plantation shutters and tile flooring. Wonderful, family friendly neighborhood with parks, walking paths and schools/shopping/golf/restaurants nearby. OPEN HOUSE 6/13/21 2-4 PM

New Listing June 9, 2021 in Ka Makana at Hoakalei Resort in Ewa Beach, HI

June 9, 2021: Hawaii Military Realty, Inc listed this home for sale in Ka Makana at Hoakalei Resort in Ewa Beach, Hawaii. One of a kind! This house has an in-law suite/gameroom attached to garage. This home has been immaculately maintained and features a first floor master suite. There is an owned PV system (22 Panels), and electric car charging port in the garage and a fully fenced/landscaped backyard. This is the epitome of Hawaii living and is located in the amazing resort community of Ka Makana at Hoakalei. Amenities of the neighborhood are a swimming pool, hot tub, fitness center, tennis court and BBQ grills and pavilions. You have the unique opportunity to join the Wai Kai Hale Club but membership is not mandatory. The association fee includes high speed internet, home phone and expanded basic cable tv through Spectrum.

Feb 14, 2021 Hawaii Veteran Buyers Using VA Loan: Buyer Beware

This market on Oahu is crazy as we are all aware.  It’s really a great time to be a Seller for many reasons during these times.


My concern is with our Buyers, specifically our VA Buyers who are doing 100% financing as most VA Buyers do and then needing to leave on PCS orders in 3 years.

We have no idea how long this Sellers market will last and when it will swing back in favor of Buyers.  Once the market shifts back to a Buyers market, there is more competition amongst Sellers to attract Buyers and one of the ways they do that is by offering things such as lower price and paying for some or all of the Buyers closing costs.


If our VA Buyers are unable to sell their homes because they would have to come out of pocket with cash in order to sell, then their next logical choice is to turn it into a rental property.  That is great as long as the Owner is able to “eat” the shortage each month.

For example, let’s say Sergeant Smith buys a condo in Ewa Beach for $425,000 with 100% financing.  The maintenance and HOA fee is approximately $550 per month.  The mortgage payment would be about $1,625 per month.  That’s $2,175 total.  Those units rent for about $2,000 per month.   The property manager gets $200.  The GET that the owner pays is $120 per month.  This means that Sergeant Smith would be upside down by $495 per month and that doesn’t include any repairs that might need to be made.  


Please think about your future when purchasing a home rather than just jumping in without the knowledge of what could potentially happen in the future.