Over the past 18 years, I've flipped several homes and had clients flip over 30. Of all those homes flipped, this Aina Haina property is one of my favorites. For one thing, I live in Aina Haina, but for another, the finished product is the cleanest, most wide open layout that I have seen in a long time.
Located just a few miles East of downtown Honolulu, this Aina Haina home was occupied by hoarders who had neglected the home for decades. When I first saw it, I knew this home had huge potential, with its concrete block construction, mid century modern style, and large 11,000 sq ft flat lot. For all its positives, this home still needed a total gut.
After we emptied the hunk left behind by the hoarders, we took down a couple walls to open up the tiny kitchen, because in the 1950's, people liked to hide their kitchens.
Then we ripped out everything else we could. Floors, windows, cabinets, showers, doors, you name it. The house became a dirty, gross, empty shell. Now we were ready. The kitchen was expanded to about double the original space, with an open bar to the living room. New flooring everywhere. New paint, windows, doors, and a new huge master bathroom, which was expanded into the existing closet. This meant we had to build a new closet, which was part of the large living space before.
This house is now on the market for almost $1.6mil. We had multiple offers immediately, and I expect the client to make a good profit on it. Flipping houses in Hawaii is just as hard as it is anywhere else, but since prices are high, the margins can be higher.
Don't get me wrong, I've seen a house flip lose money here too. Not because the deal was wrong, but because the client did a poor job managing the project and didn't deliver a good product. You can make a lot of money flipping houses, or you can lose just as much. It's not magic. It's hard work. It's a job that pays well or it can cost you everything.
Are you looking to get into house flipping here on Oahu and don't know where to start? Please come talk with me before getting start and we can make magic happen.