This week The Garden Island chats with F. Lee Morey, an entrepreneur Realtor whose creativity and business know-how have manifested itself in many ways during her 33 years on Kauai. She and her husband Joe Sylvester have operated Turtle Cove
This week The Garden Island chats with F. Lee Morey, an entrepreneur Realtor whose creativity and business know-how have manifested itself in many ways during her 33 years on Kauai. She and her husband Joe Sylvester have operated Turtle Cove Suites vacation rentals in Poipu, as well as an art gallery, gift shop and clothing store.
Her motto, “invest in your dreams,” has paid off for the president of the Kauai Board of Realtors. She shared her experiences with TGI during an interview this week about the real estate world and how her childhood dreams influenced her journey in to the business of housing, development and décor.
The Garden Island: Tell our readers about yourself, what brought you to Kauai and what made you stay?
F. Lee Morey: I came to Kauai in 1981 from Virginia to visit a friend and within a few days on Kauai I felt I was home. Everything fell into place so quickly — a great job at PMRF, a new condo and my two daughters were thrilled at the concept of living on Kauai — that I could not deny fate had a hand in my decision to make the move. My background in historic restoration, urban renewal, low income and elderly housing got me a three-year contract with Dyncorp as their outside contract specialist which was the managing contractor at PMRF. Who would have known that Housing and Urban Development and Department of Defense rules and regulations are the same? Three years turned into six years, six into eight and then I was offered the opportunity on Kauai to get back into housing and development which I sorely missed. Thus began my real estate career where I have met some of the most interesting people one could imagine. Living somewhere else was not an option.
TGI: What is your background? How did you develop a passion for the kind of work you do? How do you maintain that passion?
FLM: I was that kid that always wanted to be a designer, whether it was an architect or designing furniture, I had a passion for making living space more beautiful. Out of college, I did the financially necessary thing and went to work for an accounting firm that soon relocated and I had to find a new job. I then went to work for a developer doing his accounting but he soon put me to work drafting and designing because he recognized my passion. That led to working with program development at the Lynchburg Redevelopment and Housing Authority, where I stayed for eight years before moving to Kauai. During my time at PMRF we built beach cottages, airplane hangars, runways and finally the radar site on Niihau. But it was always about homes for me and I had to have that connection of someone loving their living space.
TGI: As a working mom, how did you make it all work?
FLM: It did not always work as a working mom. I would drop my teenage girls off in front of Waimea High School and watch them walk in not knowing they were walking out the back door until I got a call from the school saying, “we are sorry your girls are sick today.” A little wake up call for Mom. They did grow up and go to college and one even got her master’s degree but there were moments where I questioned what I was doing especially since I always did feel a dedication to work.
TGI: I know that you are very involved in the community; can you share why this is important to you?
FLM: Every day you hear people complain about changes in government policy and politicians. If you are not willing to step up and work for the things you believe in, in whatever capacity you are capable, then you have no right to complain. I love to complain therefore I must work.
TGI: Now on to business. How is the 2014 real estate market in comparison to previous years?
FLM: Smarter people than myself have determined and announced to us that our market is flat. However, if you make your product the best out there, yours will sell first. That means listening to your Realtor about pricing, staging, cleaning and forget that nonsense about what you have invested in the house because that has little relevance to market value. Sounds harsh, but it is the truth. In previous years, buyers would accept anything to get into the market. That is no longer the case. You must have the best product for the money.
TGI: What are some of the downsides of being a Realtor?
FLM: The worst thing about this job is the perception by some that you don’t really work that hard. Well, let me tell you, this is truly a 24/7 job where you must be self-motivated and in need of little sleep.
TGI: What do you enjoy most about your work?
FLM: There is a great deal of satisfaction in knowing that you have found the perfect home or investment for a client. The people that come into your life as a Realtor, you may have never had the opportunity to meet if you were not in this profession. Some of my clients have turned out to be lifelong friends and I am very grateful for them.
TGI: Have you seen a lot of changes in the development market?
FLM: Our county is growing and changing. The development market is getting more difficult every day as we become more aware of our environment and more socially conscious. Our county administrators and council have to look to the future and envision the Kauai that will be healthy, safe and maintain its beauty. Unfortunately that means more and more regulation. The best we hope for is balance and we have to find politicians that recognize that balance and support them.
TGI: How does Kauai’s market compare to the other islands?
FLM: The Big Island is the least expensive island to purchase property, Maui is the most glamorous and their market is better than ours. Oahu is doing quite well, a large population base and more job opportunities. However, all the islands are facing challenges. Hawaii is not a state that makes it easy for entrepreneurs nor does it have the programs other states have to bring in industry. We have a fragile economy that is in need of forward thinking.
TGI: Do you have more sales with investors or local residents?
FLM: Equal.
TGI: I understand you have operated several businesses in addition to Turtle Cove Suites. Can you give a quick overview of your business accomplishments?
FLM: Currently, I own and operate Z & M, Ltd., doing business as Turtle Cove Realty, a small boutique real estate company that was established in 1991, has thrived, and specializes in providing caring service. We try to be sensitive to our clients’ needs and provide knowledgeable guidance.
Also, fortunately, after Hurricane Iniki, my husband and I established Hale Mana Fine Art, an art gallery; Hale Mana Gifts for the Spirited, a gift shop; and a clothing store, appropriately named “Queen Emma’s Closet.” All were operated successfully for many years and again allowed me the opportunity to surround myself with beautiful things and have access to great art and local crafts to populate our vacation rentals.
Since 1991 we owned and operated a vacation rental business known as Turtle Cove Suites. The number of units changed from time to time as we added or sold properties but it too allowed us the opportunity to meet and connect with some really wonderful people.
TGI: On your website you have a mantra: “Invest in your dreams.” Has doing this kind of work always been your dream and what was the journey like in achieving it? How does this relate to how you interact with others?
FLM: When I say, “Invest in your dreams,” I am speaking on many levels. That can mean time, energy or money. I believe in perseverance and recognizing others ambitions and goals. My goal is to assist someone in making that investment in their dreams because I know personally that dreams do come true.
TGI: What would you say to those who are not sure what their dream is yet?
FLM: Never give up, never stop and always be aware of those around you where you can be of service.
I am currently serving as president of the Kauai Board of Realtors and on the Government Affairs Committee of the Kauai Chamber of Commerce. “Involvement” is the message I want to bring to the Realtor members and business community of Kauai. We need to involve ourselves in our community and assist where we are needed. Find your passion, find your talent and embrace that dream.
