Here are some homes throughout Oahu that are leasehold properties. Please bear in mind, leasehold property owners pay lease rent in addition to their mortgage and taxes. Lease terms must be longer than the mortgage, e.g. a lease must have 30+ years left for a buyer to obtain a 30 year mortgage on the property. See our Hawaii leasehold property guide for more information.
Some listings say "must be 50% Hawaiian," they are Department of Hawaiian Homelands (DHHL) properties. They are leased to those persons who have documented Hawaiian ancestry - at least 50%. Each purchase is reviewed and approved by the Department of Hawaiian Homelands (DHHL). If a buyer does not have documented evidence of Hawaiian ancestry, the DHHL will not approve the sale.
Q. Why would anybody buy a leasehold property? A. Because the initial purchase price is less than a fee simple purchase price.
Q. What's the catch to buying leasehold? A. You don't own it forever. When you buy leasehold, the lease has a specific time period that you will possess the property.
This is just a sample of the properties available. Please fill out our contact form to see more leasehold property listings.
The Hawaiian Homes Commission Act became U.S. law in 1921. The United States set aside approximately 200,000 acres of Hawaiian land for native Hawaiians through a government sponsored homesteading program.
Eligibility - Persons with at least 50% Hawaiian ancestry may apply for and purchase a long term lease from the Department of Hawaiian Homelands (DHHL). Persons with at least 25% but less than 50% Hawaiian may acquire DHHL property from a spouse or sibling who is 25% or more Hawaiian or from a parent or grandparent who is 50% or more Hawaiian.
Simultaneous transfers - For prospective buyers with 25% Hawaiian ancestry, a parent or grandparent with at least 50% Hawaiian ancestry can acquire a property and simultaneously transfer it to their child or grandchild who is at least 18 years of age. The ultimate recipient (child or grandchild) would apply for the mortgage loan, if any. The parent or grandparent initiating the transfer does not need to qualify for the mortgage loan.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd.
active listings last updated on 2019-08-18.
Information is deemed reliable but not guaranteed.
Copyright: © 2019 by HiCentral MLS, Ltd.
Real estate listings held by brokerage firms other than Century 21 iProperties Hawaii are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.
Some of the active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. Information cannot be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing. Information last updated on 2019-08-18.