B4 • Friday, June 2, 2023
thegardenisland.com
THE GARDEN ISLAND
Got House?
Julie Black, Principal Broker & Owner (808) 652-6174 with daughter Kela Caspillo, Realtor Broker (808) 652-6173 kauaidreams.com
Featured Home
Lihu‘e
4331 Kaua‘i Beach Dr. #2340 A fully furnished 3rd floor ocean view unit located on an Ocean Front Resort. Kaua‘i Beach Resort offers several amenities including 2 lagoon pools with waterfalls, a kid-friendly pool with sandy bottom, water slide, hot tub, poolside lounges, dining options, a spa, and a fitness center. The HOA fee includes utilities. MLS # 669712; $335,000. Call Julie Black, RB-14203 (808) 652-6174 Kauai Dreams Realty, to see this property.
Does a remodel makes sense? BRANDPOINT There comes a time when every homeowner looks around at their house and ponders a few upgrades. Sometimes, those ideas turn into full-on renovations as you reimagine your space to better meet your lifestyle. But before you start calling contractors, ask yourself: Does remodeling make financial sense? Here are three tips to help you decide if a home renovation benefits your home and your finances. Identify your wants vs. needs How necessary are the improvements you want? Some home projects may end up costing you more than the value they provide. That doesn’t mean certain projects aren’t worthwhile. “Home renovations come in all shapes and sizes. For some, it may be about the investment and increasing the home value, for a good few it might be about what looks the best, while others might not have a choice,” said Adam Fingerman, assistant vice president of equity lending at Navy Federal Credit Union. “Whatever the reason, it’s always a good idea to understand how a large renovation might impact your finances and the overall value of your home.”
include columns for high-, medium- and low-cost options. Don’t forget supplies for do-ityourself projects and always allocate a certain percentage for unexpected expenses. Also be sure to get estimates from different contractors and compare them. Carefully check references and business licenses.
Know your budget
Explore financing options
Consider creating a chart with all of your cost estimates, and
Ideally, you’ve already established a home
BRANDPOINT
Some home projects may end up costing you more than the value they provide. Proper preparation will help assure you it’s work the expense. improvement savings plan. But if you’re planning to borrow, explore your financing options through your trusted bank or credit union. “Think about the size of your project, whether or not you’ll have ongoing expenses, and your current finances,” said Fingerman. For example, Navy Federal offers members various options for funding home improvement projects, such as home equity loans, home equity line of credit
or personal expense loans. Members also have access to a wealth of information to help them make informed decisions about the right financing products for their home improvement goals. Home renovations of any size — large or small — can be overwhelming. Consider these tips to help make it easier and more affordable in the long run. Navy Federal Credit Union is federally insured by NCUA. Equal housing lender.
Hawaiiana Management Company, Ltd. Serving Kauai’s Condo & Community Associations with award-winning service
H
Average long-term U.S. mortgage rate climbs to 6.79 percent
awaiiana currently serves over 60 residential and commercial associations on the Island of Kauai. Kauai native Sunshine Ruiz Hatto serves as Hawaiiana’s Vice President of Kauai Operations from its office at the Kukui Grove Executive Center in Lihue.
ASSOCIATED PRESS LOS ANGELES — The average long-term U.S. mortgage rate climbed this week to its highest level since November 2022, driving up borrowing costs for would-be homebuyers at a time when the housing market is being held back by a near record-low inventory of homes on the market. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year home loan rose to 6.79 percent from 6.57 percent last week. A year ago, the rate averaged 5.09 percent. The latest increase marks the third in three weeks and lifts the average rate on a 30-year home loan to its highest level since it surged to 7.08 percent in early November. The average rate on 15-year fixed-rate mortgages, popular with those refinancing their homes, rose to 6.18 percent this week from 5.97 percent last week. A year ago, it averaged 4.32 percent, Freddie Mac said. High rates can add hundreds of dollars a month in costs for homebuyers, limiting how much they can afford in a market that remains unaffordable to many Americans after years of soaring home prices and historically low levels of housing inventory. Mortgage rates have ticked higher along with the 10-year Treasury yield, which lenders use as a guide to pricing loans. The yield hit 3.81 percent last week, its highest point since early March, reflecting uncertainty among bond investors over whether the federal government would be able to avoid a debt default and renewed worries that the Federal Reserve may not be done hiking interest rates.
• • • •
Sunshine Ruiz Hatto Vice President Kauai Operations
99% retention rate among clients Local (vs. mainland) banking All employees are in Hawaii Serving nearly 60 associations on Kauai
www.hmcmgt.com
BOB WILSON SR. MANAGEMENT EXECUTIVE
LUCY TAYLOR SR. MANAGEMENT EXECUTIVE
WHIT VAN BLARGEN SR. MANAGEMENT EXECUTIVE
AMY CAMPBELL MANAGEMENT EXECUTIVE
KRISTEN KURZ MANAGEMENT EXECUTIVE
MIRISHAE MCDONALD MANAGEMENT EXECUTIVE
KATHRYN MILLER MANAGEMENT EXECUTIVE
RICHARD ROBERTS MANAGEMENT EXECUTIVE
HINAHEA LANGI OFFICE MANAGER, SENIOR ADMINISTRATIVE ASSISTANT
RACHELE BURNS TOGUCHI OFFICE/LEAD ADMINISTRATIVE ASSISTANT
MARISA YOUNG ADMINISTRATIVE ASSISTANT
ASHLEIGH-MORGAN SHIGETA FRONT DESK ADMINISTRATIVE ASSISTANT
Hawaiiana’s Kauai Properties: Alihi Lani Alii Kai at Hanalei Alii Kai II Aliomanu Estates Apopo Hale Emmalani Court Halaulani Condominium Hale Honu Halelani Village at Puhi Halemalu at Puhi Hanalei Bay Villas Hooluana Condo at Kohea Loa Hookena at Puhi Kahala at Poipu Kai Ka‘iulani of Princeville Kakela Makai Oceanview Kalaheo Pali Kai Kalihiwai Ridge Kamahana Kauai Beach Resort
Kauai Beach Resort Association Kawaihau Sports Villa K.G. Enterprises Condominium Kiahuna Plantation AOBO Kohea Loa Master Association Koloa Garden Apartments Kuhio Shores at Poipu Kukui‘ula Kulana Lae Nani Lihue Townhouse Makanui Manualoha Marriott’s Kauai Resort and Beach Club AOAO Nawiliwili Estates Paradise Court Pali Ke Kua Paliuli Pikake
Pili Mai at Poipu Plantation at Princeville Poipu Crater Poipu Kai Association Poipu Kai Racquet Club Poipu Kai Water Reclamation Poipu Kapili Poipu Sands Princeville II Community Association Princeville II Community Association - Queen Emma Bluff Princeville Makai Ranch at Halele‘a Princeville Paniolo
Princeville Sealodge I Puamana Puhi Industrial Park Pu‘u Po‘a Regency at Poipu Kai Regency Hule‘ia Regency Villas at Poipu Kai Sandpiper Village I The Villas at Poipu Kai Villas at Puali Villas of Kamali’i Villas on the Prince Waikomo Stream Villas Wailua Bay View Waipouli Beach Resort
For more information about Hawaiiana’s services, contact Sunshine Ruiz Hatto at 792-0515 or email sunshine@hmcmgt.com.