Mmastodon BusinessReal Estate first seen 2 d ago, last 20 h ago, peak #1

Oahu beachside condos listed at $20k over expiring land leases

Original: There are beachside condos on Oahu currently going for $20k in a big, popular building because Hawai'i has something cal

Some beachside condominiums in a large, popular building on Oahu are being listed for as low as $20,000. The reason is Hawai'i's leasehold property system: the land beneath the building is owned by someone else, and the lease is nearly up. Buyers effectively purchase only the unit, not the ground under it, and it is unclear what happens to the units when the lease expires. Commenters are highlighting the arrangement as a striking example of how land ownership shapes island real estate prices.

Why now: Rock-bottom prices for Hawaiian beachfront property draw attention once people learn the land lease is expiring and units' futures are uncertain.

OahuHawai'ileasehold condos

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• There are beachside condos on Oahu currently going for $20k in a big, popular building because Hawai'i has something called leasehold property and the lease is almost up. That means the land under building is owned by someone else. What happens to the units after that? WHO… · brianvastag@mas.to · 3

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