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Find Out How Penniless Canadians are Buying Maui Real Estate

No, this is not one of those “one weird trick” blog posts (and I’ll never know how to get rid of belly fat), but here’s the catch – technically all Canadians are penniless since the Canadian Government stopped minting pennies in 2012. But that hasn’t stopped our polite neighbours to the North from falling in love with and purchasing Maui condos, and Maui Real Estate in general.

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I get to make fun of Canadians because I used to be one of them. Born to an American father and a Canadian mother, I was raised in Canada (where those two pennies could buy you one piece of bubble gum with an unfunny comic wrapped around it) – so if you mention Kraft Dinner, serviettes, or ask how much the Hydro is for a property, I won’t miss a beat.

American Translation:

  • “Kraft Dinner” = Mac ’n Cheese
  • “Serviette” = Napkin
  • “Hydro” = Electric Bill

Canada Fun Facts

Canadians have long enjoyed boasting to Americans about which famous celebs are Canadian, but I prefer to dish out more esoteric trivia. Here are a few little known facts:

  1. Toronto, Canada is farther SOUTH than Portland Oregon
  2. The southern tip of Canada is below the California/Oregon border
  3. The TD in TD Ameritrade stands for “Toronto Dominion” – and it’s a Canadian Bank (they put this in tiny print on their website)

Google_Maps

If you’ve spent any time in Wailea or Kihei, in the winter, you’ll hear a lot of Canadian accents (not to be confused with the Minnesotans), and even the regional and entirely fattening Quebec dish “Poutine” made its way to Kahului foodies courtesy of Maui Fresh Streatery food truck. (The Poutine was a limited time specialty, but this gourmet food truck always has something crazy delicious.)

Braised Short Ribs Poutine

Braised Short Ribs Poutine Maui Style

And yes, there are even some very old, dead, and penniless Canadians laid to rest on some lovely real estate in Wailuku as you can see in these two pics:

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An Old Dead Penniless Canadian in Wailuku

From P.E.I to Wailuku circa 1892!

From P.E.I to Wailuku circa 1892!

Lending Guidelines for Canadian Buyers

But if you’re wanting some information on what it takes to buy Real Estate on Maui as a Canadian Citizen, here’s some info that will be good to know as you head out determined to find a sunny place to hibernate during the dreaded Canadian winters. (What, you actually want some useful information from this blog post?)

  • Canadian Credit Scores Okay
  • Typically 30% Down Payment Required
  • Some lenders require a local Power of Attorney
  • French Documents must be translated by approved translators. (We can help with that. Nous pouvons vous aider avec ça!)
  • Vacant Land/Construction Loans Available with minimum 35% down
  • Different lenders have different requirements – Having a competent lender is key

One of my favorite lenders is Brady Spangler of Axia Home Loans in Pa’ia. He doesn’t speak Canadian per se, but I can translate. (If you’re from St. John’s Newfoundland, please speak slowly as my Newfie is a little rusty).

Find the Perfect Maui Property

Regardless of which side of the border you’re from, I’d be happy to help you find the perfect Maui property. Call, text, or email me and we can start looking.

Liam  S. Ball, R(S)
808.280.7809
liam@hawaiilife.com

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Sheri

May 28, 2014

Our dream to be able to winter in Maui when we retire!

Sheri

May 28, 2014

Our dream to be able to winter in Maui when we retire!

Liam

May 29, 2014

Hey Sheri – I don’t blame you. I couldn’t wait for retirement – I had to bail on Toronto winters once and for all and I’m glad I did. The next time you’re on Maui – look me up and we can talk stink about Canadian winter! – Aloha – L

Liam

May 29, 2014

Hey Sheri – I don’t blame you. I couldn’t wait for retirement – I had to bail on Toronto winters once and for all and I’m glad I did. The next time you’re on Maui – look me up and we can talk stink about Canadian winter! – Aloha – L

Jon

July 4, 2014

Fantastic read Liam! Mahalo!

Liam

July 4, 2014

Thanks Jon – You are definitely the most Hawaiian Canadian I’ve ever met! (Yes for those who don’t know – Jon and his wife study HULA in Markham, ON and they have the most perfect pronunciation of Hawaiian of any visitor I’ve ever met.) Malama pono ia ‘olua!

Jon

July 4, 2014

Fantastic read Liam! Mahalo!

Liam

July 4, 2014

Thanks Jon – You are definitely the most Hawaiian Canadian I’ve ever met! (Yes for those who don’t know – Jon and his wife study HULA in Markham, ON and they have the most perfect pronunciation of Hawaiian of any visitor I’ve ever met.) Malama pono ia ‘olua!

Ramona

December 28, 2014

Thanks Liam! Great info. I’m a born and raised Canadian originally from Niagara Falls now living in Calgary and the winters are HARSH! And seem to be harder to get through year to year. We would love to own some vacation property in Maui. Spent 2 weeks there last year and coming back for 2 more this year! Counting the days. What are your thoughts of west Maui vs Kihei in terms of best vacation property rental capability? Is it better to own something west or south?

Ramona

December 28, 2014

Thanks Liam! Great info. I’m a born and raised Canadian originally from Niagara Falls now living in Calgary and the winters are HARSH! And seem to be harder to get through year to year. We would love to own some vacation property in Maui. Spent 2 weeks there last year and coming back for 2 more this year! Counting the days. What are your thoughts of west Maui vs Kihei in terms of best vacation property rental capability? Is it better to own something west or south?

Liam

January 4, 2015

Hi Ramona!

Thanks for the nod – sorry it took so long for my reply. I took a wee vaycay and unplugged! Please shoot me an email and I’ll give you my low down in the Kihei vs west side query. Liamball@hawaiilife.com Happy New Year!

Liam

January 4, 2015

Hi Ramona!

Thanks for the nod – sorry it took so long for my reply. I took a wee vaycay and unplugged! Please shoot me an email and I’ll give you my low down in the Kihei vs west side query. Liamball@hawaiilife.com Happy New Year!

Dean

July 31, 2016

Heading to Maui for the 3rd time, in 9 days. Moving to Maui is the dream (very longterm). Your article makes a lot of sense. Anything more detailed you can add?

Dean

July 31, 2016

Heading to Maui for the 3rd time, in 9 days. Moving to Maui is the dream (very longterm). Your article makes a lot of sense. Anything more detailed you can add?

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