Hawaii Housing Report: Condo Insurance Crisis
Hawaii condo insurance rates and maintenance fees are increasing at a rapid rate some reported to have increased 300% to 400%. An estimate 400-500 underinsured condos in Hawaii no longer qualify for conventional financing leading to decreased real estate values.
Expert panel discusses the insurance crisis in Hawaii & what owners, buyers, & Realtors can do. Expert panel with:
• Sue Savio (President, Insurance Associates)
• Anders Hostelley (Reginal Manager, Guaranteed Rate Mortgage)
• Patrick W ONeill R (Principal Broker, Luxury Homes International)
The panel discusses the causes of increasing insurance rates, ripple effect of Maui’s tragic wildfire disaster, underinsured condominiums in danger of decreasing values, why deferred maintenance is causing more hardship on condominiums, Hawaii’s fire safety ordinance and advise for associations.
What every owner, buyer, and Realtor should know about Hawaii’s property insurance and how real estate values are effected.
Hawaii Housing & Real Estate Report. Insurance rates, maintenance fees, underinsured condos, fire safety ordinance in Honolulu Hawaii, real estate property values, condominiums, homes.
Luxury Homes International
Honolulu Hawaii
www.LuxuryHm.com RB-18777