Seven years ago today we purchased our first two condos. Sugar Beach 104 and Kihei Surfside 405. We had just sold our dairy farm and moved to Maui with hopes of getting into the vacation rental business. What a life-changing move that was. As we adjusted to island-living Sig dove headfirst into real estate and spent countless hours researching properties in South Kihei, reading online, checking out open houses, talking with realtors etc. Hard to believe that we are now celebrating our 7 year anniversary!
Sugar Beach 104
When we bought Sugar Beach 104, it had recently reopened after being closed for an extensive building remodel for a year. There were many distressed properties and the timing was good. As a family with young children we liked the ground floor location (no stairs or elevator to deal with) and that the kids could spill out onto the lawn just off the lanai, giving more living space. We tackled a renovation head-on: new bathroom, new flooring (out with the suspicious carpet and old tile), new sofa and luxurious Averte shades. We removed the popcorn ceiling and repainted all the walls. We took careful inventory of all everything in the condo, replacing sheets and towels, pots and pans, small appliances and TVs as needed. It was fun putting our own stamp on the condo, and then listing it on VRBO to rent it out.
Since then we’ve tackled several additional projects – with any rental property there is always something that needs fixing or replacing.
Kihei Surfside 405
Kihei Surfside 405 was an entirely different operation. We were fortunate to purchase that condo from hands-on owners Cynthia and Bill. Unlike our Sugar Beach condo, they passed on a full roster of bookings. They took the time to sit down with us and pass on their condo rental knowledge they had gathered from years of experience. I still remember that lunch at Gannons, furiously taking notes. I appreciate the time they took to teach this newby the ropes. Their condo needed little work – we replaced some of the art work (they took some of their favorites) and checked an inventory list to make sure we had everything needed.
Of course, since purchasing Kihei Surfside 405 in September 2010 we’ve done several remodels. In 2012 we replaced the kitchen cabinets and repainted. Then in 2015 the entire building was shut down for five months for extensive exterior work. We took the opportunity to replace the carpeting, blinds and sofa. Every year we take an inventory and replace items on an as-needed basis. Most recently we’ve added a Vitamix and replaced the TV.
Happy 7 year anniversary to us!