To Our Visitors & New Residents 

T he Truth about… Sharing Hawaii

Important New Twist on an Old Idea

What is Fractional Ownership?

It is an ownership arrangement in which two to six individuals or entities

Hold shared legal title to a single parcel of real estate or Condominium Unit

Because of its simplicity & affordability it is becoming one of the fastest growing

Ownership alternatives…especially in resort destinations

Well known & popular in Canadian Resort areas such as Whistler Panorama & Oysoyoos B.C.

Although fractional ownership of real property is commonplace on mainland USA & Canada

Particularly in Resort areas, the concept has only recently begun to gain acceptance in Hawaii. When a property is fractionalized-whether a single family home, condo or vacant land-buyers become tenants in Common entitled to periods of use corresponding to the percentage they have purchased

For example if a property were fractionalized into six equal shares, one sixth being the minimum percentage allowed in Hawaii

Each owner would have the right to use it for sixty days or two months a year

Despite the popularity local financial institutions have been hesitant to make loans for these types of real property purchases this situation is now changing partly due to local market conditions and as a result of an educational program mounted by Old Republic Title & Escrow of Hawaii

Fractional share differs from traditional co tenancy in that it designates specific periods of time when each owner may use the property. It differs from Time sharing in several respects, A time share as defined by the time share Act is any period of use of a property that is less than 60 days per year. Time share buyers may receive either a deed or a member ship certificate with fractional ownership the buyer always receives a deed and clear title to the property as well as other documentation which outlines responsibilities of owner’s management property conditions inventory of inclusions and contents and terms of resale.

Kauai Beach Villas was fractionalized as early as the late 1980’s

Fractionalized properties come in a wide range of prices and amenities, some include daily maid service, vehicles boats stocked wine cellar and almost unlimited concierge services at the other end you have a bare bones situation with a boogie board and beach mats

Each owner bears the burden of only their portion of the taxes, utilities, insurance and any other expenses plus responsibilities& obligations of land ownership

For more information on this exciting ownership opportunity I invite you to contact me at Deborah@HomeRenovate.com

Or visit my website www.deborahjkirk.com

For free downloads with complete information & on going seminar dates & locations.