Is it Possible to Pay Less Than $700 a Month for HOA Fees?

With the rising home prices on the Big Island, it’s becoming a challenge not only to purchase a home but also to find an affordable home. If you have a sizeable budget, there are spectacular homes to buy, where you can retire or purchase as a second home. Two beautiful options are a townhouse in Hualalai with delightful ocean views or the possibility of a spectacular oceanfront home in the Mauna Kea Bluffs.

Yet for many home buyers with a smaller budget, the choice to start with an alternative to a single-family home may be necessary. Perhaps a less expensive option can be found with purchasing a condo that has a low Homeowners Association fee. Let’s face it, paying a monthly Homeowners Association fee of over $1,000 a month can hurt your bank account and retirement savings.

So, the question for today… is it possible to purchase a condo with a Homeowners Association fee that is $700.00 a month or less?

How Fees are Determined

Simply explained: The Homeowners Association comes up with a yearly budget. That budget includes things like amenities, property manager, master insurance, landscaping, and the exterior of the buildings.

Every 3-5 years depending on the community, they will hire a specialist to review the needed future repairs. That specialist will recommend that your HOA update such things as resurfacing the pool, new roofs, etc. If that happens, you may see an increase in your HOA for emergency repairs or if a repair needs to be done sooner than anticipated.

Short Term Vacation Rentals (STVR) Versus 30 Day Minimum

Short-term rentals are extremely popular options for those who love the island and want to enjoy their own place while receiving some rental income on their investment. Not all Homeowner Associations allow for short-term vacation rentals. I’ve noted below the communities with fees under $700 a month and if they allow short-term rentals.

Fees can Vary Within a Community

It’s necessary to ask your realtor what the benefits, costs, and pros & cons of the community Homeowners Association are. Yet it’s also important to verify those fees and what’s included, by reading the HOA documents provided to you during escrow. The Property Information sheet known as the RR105C will lay out exactly what’s included in the Homeowners Association dues.

HOA Fees Under $700 in Kona: (Short Term Rentals Allowed)

1. Kona Mansions
2. Kona Pacific
3. Country Club Villas (7-day minimum)
4. Kahaluu Reef
5. Kalanikai
6. Sea Village
7. Keauhou Akahi (5 day minimum)
8. Keauhou Panahele
9. Kona Coffee Villas
10. Kona Shores
11. Malia Kai
12. Kailua Bay Resort
13. Kona Isle
14. Kahaluu Bay Villas

HOA Fees Under $700 in Kona: (NO STVR Allowed)

1. Alii Villas
2. Seascape Condominium
3. Alii Cove
4. Pines
5. Kona Sea Village
6. Kona Villa
7. Royal Kaliuan

HOA Fees Under $700 in Waikoloa Village: (Short Term Rentals Allowed)

1. Fairway Terrace
2. Waikoloa Village Condominiums
3. Waikoloa Hills Condo
4. Paniolo Club

HOA fees under $700 in Waikoloa Village: (No STVR Allowed)

1. Elima Lani
2. Makana Kai at Wehilani

If you have any questions about these communities or purchasing a condo on the Big Island, feel free to reach out. I enjoy talking about Hawaii Real Estate and would be honored to help you find the perfect condo!

With aloha,
Leeana