Monthly Fees

 

Fees, fee comparisons and misconceptions:


(Warning: this section is long because it is the most frequently misunderstood and the subject of many buyer’s questions.)


Comparing the monthly cost of home ownership in Waimea can be confusing because Holo Holo Ku is the only condominium complex with free standing houses in all of Waimea. Almost every one of the Kohala Coast resort communities have condominium associations with fee structures similar to Holo Holo Ku, but even in those expensive communities free standing homes without shared walls are rare. The Holo Holo Ku monthly condominium fee covers the following: water, sewer, trash collection, lawn care, plant care, tree care care; our road, sidewalk, and driveway maintenance and replacement when necessary; lawn and garden watering; all mowing; all exterior ground and fence security lighting; wooden fence maintenance and replacement when necessary. The fee also includes the exterior maintenance, cleaning, painting and repair of forty-four homes and eleven garages. Owners are responsible for exterior window cleaning.  It is the ideal arrangement for busy professionals and seasonal residents.


This one monthly fee covers the cost of many of the same items that a non-condominium homeowner pays monthly. Additionally, Hawaii law requires that each condominium association make a 25 year reserve study that projects spending over that period and funds it on a monthly basis to prevent large assessments for planned repairs.  For instance, in a condominium association a portion of the monthly dues goes toward repainting each unit on a six to eight year cycle.  When it comes time to repaint, the money is already held in the reserve account and there is no charge to the homeowner.  When a non-condominium owner’s house needs repainting he or she writes the check at that time.  Both may pay the same cost (although an association can frequently negotiate a better price based on volume), but the condo owner has saved for it on a monthly basis while the non-condo owner has, in effect, had an assessment for painting.  When examining the monthly cost of ownership it may appear that a non-condominium homeowner pays less, but the actual costs are very similar over a longer term.


The Kohala Coast resort communities condominium fees are generally higher even though most are high density properties. Savings from their high density is usually offset by higher tsunami insurance and the high cost of maintaining swimming pools.


The 2011 monthly fee schedule at Holo Holo Ku ranges from $560.45 to $862.44 per month based on the size of the home.  There are nine different sizes with number 1 representing the smallest and number 9 representing the largest. The example below uses a size level 6 (3 bedroom cottage) Holo Holo Ku home and compares monthly costs to a non-condominium home.


What the Fees Cover

Holo Holo Ku                                        Typical home

$674.60                                                                    $750.00+

Includes:

$103.76                      Sewer                                     Same

$15.79                        Refuse                                    Same

$16.15                        Water                                     Same

$225.00                    Gardening                                Same

$82.00                      Insurance                                More*

$135.00                    Exterior Maintenance              Same over time

$15.61                       Pest Control                            More*

$81.29                      Amenities                                Unavailable


Amenities:

In addition to the feeling of open space and ranch and mountain views, there is a gym, sauna, and a clubhouse with a full kitchen. The community is professionally managed with an on site manager. This is turn-key convenience with the freedom to leave for the day or months at a time knowing that your home exterior and grounds are being maintained.


Uniform standard of appearance:

You don’t have to worry about keeping your home on a six to eight year paint cycle while your neighbor is on a 20 year paint cycle. The exterior of the homes and the grounds are maintained to a uniform standard of appearance whether the owners are full time residents or seasonal.


*We calculate the savings we achieve through group purchase of insurance, maintenance projects and pest control save us over $100/month compared to the cost for a typical home.    For example, we just painted our buildings for $4300 per owner because our contract covered 52 buildings.  Compare our fire insurance bill of $82/month with what one would pay for a typical home.  Also, we do not pay for flood insurance as many resort properties are required to do.

 




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