Real Estate Ira In Honolulu Hawaii

Written by Johnny Kitchens
Bookmark and Share

Development in Honolulu has been red hot in recent years and the boom seems poised to continue. It is not difficult to see why Honolulu is such a desirable place. It is the largest city in Hawaii. It is the county seat. It has the largest pool of workers in the state. It receives a massive economic boost from US military installations on Oahu. Plus, it is simply a beautiful place that has drawn millions of tourists and billions of tourist dollars for many years.

Real estate prices in Honolulu are relatively high when compared to national averages, partly due to desirability and partly due to limited supply. Because of this limited supply and because Honolulu needs to maintain itself as a lure for tourists, building codes can be more constrictive than in other markets. Sometimes it is easier and less time-consuming for smaller investors to deal with existing structures rather than try to develop a new project from the ground up.

Investing your IRA in Hawaiian real estate is also attractive because Hawaii is a tropical destination that is also a part of the United States and not subject to restrictions on foreign real estate ownership. Owning real estate on foreign soil within an IRA is even more complex than owning US real estate within an IRA. Simpler acquisition and ownership protocols can save IRA owners considerable sums of money that would otherwise be paid in fees.

Following the Rules for Owning Real Estate in an IRA

The rules that govern real estate ownership within an IRA are much more complex than the rules for owning stocks, bonds, and other securities. (This is one reason so many IRA providers do not include real estate in their IRA products.) To own real estate in an IRA usually requires that you set up a self-directed IRA. If you are not well versed in the IRA rules, you should look for an IRA advisor that will offer you assistance and advice rather than just a rubber stamp.

Bookmark and Share