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The Joy of Homeownership

Five reasons to consider (or reconsider) buying a home on Maui.

December 8, 2011
Josh Jerman R(B) • Real Estate Columnist The Wailea Group LLC , The Maui Weekly

Throughout my career, I've encountered many who face the same dilemma: the decision whether to buy or not to buy a home on Maui. Without question, it is a major decision, and one that should not be taken lightly. But if you are on the proverbial fence, and find yourself outlining the "pros" and "cons" of homeownership, here are five (and please note: I'm just covering five here-there are plenty more) reasons to consider owning a home here on Maui.

1. One simple word: equity. When you buy a home, historically, you build equity over time. In general, a home will appreciate at an annual rate of 4 to 6 percent, which means you will build up ownership (and ostensibly paying yourself in the long-run) each year you are in your dream home.

2. Another simple word: ownership. The adage "home sweet home" was coined for a reason. I know many renters on Maui who wish the landlord would remodel or renovate the kitchen, bathroom, etc., but such improvements often remain a fantasy. It's a different story when you are in your own home, as the sky is the limit when it comes to painting the interior or exterior, expanding rooms, installing hardwood floors or adding those decorative "bells and whistles" you've always wanted-because it's all yours.

3. You have the pick of the litter. From Ka'anapali to Kihei, the current inventory of residential homes is high on Maui. Simply put, that's good news for buyers.

4. Save, save, save. Today, homebuyers can find some of the lowest mortgage rates on record, which significantly lowers monthly payments (payments that go toward your mortgage, not your landlord's). And when tax season is upon us, you'll have the added bonus of deducting mortgage interest from your income taxes if you meet the criteria.

5. There's no time like the present. As you may have heard countless times, this is a buyer's market, which means it is your market. Inventory is high, prices and interest rates are low, and homes are more affordable than ever. So what are you waiting for?

As I've said in the past, every buyer is unique, and depending on your needs, there may be other variables to consider, which is why it is so important to consult with an experienced real estate professional. If you are searching for your dream home, you're in luck. There is a good selection of residential homes for sale on Maui, it's very likely you will find an incredible deal. But don't wait too long.

Do you have a question about real estate on Maui? If so, I'm ready to answer it. Email me at or visit

Josh Jerman is a REALTOR/Broker with The Wailea Group LLC, located in The Shops at Wailea at 3750 Wailea Alanui Drive, Ste. 5EW. He serves on the Realtors Association of Maui (RAM) Board of Directors, RAM Education Committee and the Hawai'i Association of Realtors' Finance Committee. To "Ask Josh," send your questions to or visit



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