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Housing is Expensive in Kona
In response to 140591: Some thoughts, posted by Mark S2 on Saturday, 18 February 2017, at 9:11 a.m.
Mark, not to rain on your parade but your housing cost projections have to be inaccurate. I can believe the $4,000 a year for lease payments and property taxes, however I believe you are neglecting the initial capital cost of the lease which it sounds like you paid in cash. I know the capital cost of land leasehold interests are less than the freehold interest they can still be substantial in the couple hundred thousand dollar range and up. You also neglect to mention the capital cost of your solar energy system. I'm not saying it is not a good idea but many do not have the capital available nor the borrowing capability to procure such as system. In short, I don't want people from the mainland to think they can lease a farm in Hawaii for $4,000 a year.
Moreover, some the of the lease terms on leasehold farm can be quite restrictive. I don't want to his this too hard but I have heard some horror stories of Leaseholders who were evicted or had their leases terminated for allegedly not following the lease terms.
Δ Leasehold Evictions??
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