Bonnie Stowe moved to Kaua‘i from Maui almost two years ago where she was in the vacation rental and time share exchange businesses. Some 10 days before her arrival she passed the real estate exams but was dismayed with the price of homes here so held a low profile until she heard about fractionals.
Since a fractional ownership is for only two months, it is not expensive for most visiting buyers, and relieves them of the headaches associated with whole ownership. Instead, they have several options that are easier to manage. For instance, they may stay in their unit for one month and rent the other month to vacationers or offer it to friends or relatives.
The financial responsibility is only one-sixth of all associated costs, making it much more affordable to own their piece of paradise. The group of owners that form their own organization may enhance it at only one-sixth the cost and are free to trade time among themselves and other similar complexes.
This type of real estate sale is very popular in other resort areas around the world, and she thinks it is definitely a wave of the future. It gives people who fall in love with Kaua‘i a solution to home ownership without the financial burdens of year-round maintenance.
Bonnie’s company name is Kaua‘i Fractionals, LLC, and she works for Bill Gillette, broker/owner of Kaua‘i Tropical Properties. For more information call 808-652-5611 or e-mail firstname.lastname@example.org.