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The highest and best use of the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now ...
Most retail businesses in Hawaii, however, do list the tax as a separate line item. 4.0% is charged at retail with an additional 0.5% surcharge in the City and County of Honolulu (for a total of 4.5% on Oahu sales), and 0.5% is charged on wholesale. [94]
A commercial office/retail building. Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. [ 1] Commercial property includes office buildings, medical centers, hotels, malls, retail stores ...
Apr. 9—Total sales volume for the Hawaii investment market in 2023 declined 18.6 % to $1.93 billion from $2.37 billion in 2022. Hospitality purchases at more than 23 % were the largest share of ...
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
From 1985 through 2022, median sales prices for single family homes and condos on the Hawaii’s third largest island have risen 596.7% and 467.9%, respectively, according to HiCentral.com data.
The six distinct kuleana rights are: [1] (1) reasonable access to the land-locked kuleana from major thoroughfares; (2) agricultural uses, such as taro cultivation; (3) traditional gathering rights in and around the ahupua'a [neighborhood]; (4) a house lot not larger than 1/4 acre; (5) sufficient water for drinking and irrigation from nearby ...
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) is transferred between two or more parties, e.g. in case of conveyance one party being the seller (s) and the other being the buyer (s). It can often be quite complicated due to the complexity of the property rights being transferred, the ...