Good Things to Know About Purchasing Land on Maui
There are Two Types of Land Ownership on Maui
The first thing to know is that there are two types of land "purchase" on Maui. One is technically not an actual purchase so we put the term in quotes. These two options include Fee Simple and Leasehold.
A Fee Simple land purchase provides the purchaser with complete ownership of the land and anything located or contained upon it. This also gives the landowner freedom to do as they wish with the land as long as it meets local zoning laws and they have the proper permits. The owner also has the ability to sell the land or lease it or leave it to someone for inheritance when they pass on.
A leasehold is an agreement in that someone has the right to build a structure on a piece of land and has ownership of the structure, but they are leasing the land and do not own it.
Choosing Where to Build and Live
Maui has a vast landscape and there or many different types of locations as well as levels of population density. It is a good idea to ask what your dream home build lifestyle looks like after you are in your newly built home. Are you hoping to be within a walkable distance from activities? Would you prefer to have your own piece of quiet island tranquility?
Choosing how close or far you want to be from other homes and businesses will then help you to decide what type of view you might want to enjoy from your home. Each area of Maui comes with its own spectacular view. If you are hoping to keep your view the way it is, it may be smart to consider purchasing enough land that no one can build and change your view later.
The weather is almost as diverse as the topography in Maui so it is something to consider as well when you choose a location for a land purchase. Lahaina and Kihei are popular spots on the island because they see the least amount of rain. For those that don't mind a nice tropical rainfall, Hana has the most precipitation but beautiful vegetation.
Zoning is another very important thing to check into. Maui has three major zoning classifications they include residential, rural, and agricultural. It is. a good idea to know the building restrictions in these areas and if your dream home fits into them.
Buying Land in a Pre-Planned Development
Some construction projects will sell properties by starting with selling off plots of land within the community. If you are considering purchasing land in a pre-planned residential community it is good to take note of any HOA and the rules they have for building. If you plan to purchase in a Condo Property Regime or CPR. This type of land purchase allows the owner to divide the land into multiple housing units. It is a good idea to consult with a legal professional to know all of the facts in your purchase contract.
The best place to buy land for purchasing your dream home is the island of Maui. For more information on available real estate on Maui please contact us any time.