Hawaii Real Estate β€’ February 15, 2023

7 Important Terms of Hawaii Real Estate

Here are some important terms in Hawaii real estate:

  1. Fee Simple: This is the most common type of ownership in Hawaii. Fee simple ownership means that you own the land and any structures on it.
  2. Leasehold: Leasehold ownership means that you own the building, but not the land. You pay rent to the landowner for the use of the land.
  3. Ali’i Lease: A type of leasehold agreement that was used by Hawaiian royalty to lease land to commoners. The lease term was often for 99 years, and the lease could be passed down to future generations.
  4. Ohana: The Hawaiian word for “family.” In real estate, it refers to a separate living unit on the same property as the main house. Ohana units are often used as rental properties or for extended family members.
  5. Lanai: A covered porch or balcony. Lanais are common in Hawaii, and are often used as additional living space.
  6. Zoning: The division of land into different zones or districts, each with its own allowed land use. Zoning regulations help to control the use and development of land.
  7. Easement: A right to use someone else’s land for a specific purpose. For example, a utility company might have an easement to run power lines across your property.

Understanding these terms can be important when navigating the Hawaii real estate market.