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If I do relocate to Puna, I will not be able to do so immediately. However, I may buy a place before I am able to relocate. How is the rental market in Puna? Does it depend on the area? Is it possible to buy a place and then rent it out lickety split? If you have done that, did you advertise in a local paper, or use something like Craigslist, or Punaweb (yeah, Punaweb!)? Is there a place I can check for this? Is there a newspaper?
All I do is ask questions. One day, I promise, I will answer some!
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Glen, Puna is larger than the Island of Oahu, so it really depends on the area. However, if you are an absentee owner and live off island you have to have a property manager. It's the law. Your property manager does not have to be licensed as long as he/she does not manage more than one property but can manage more than one property for the same owner. Needless to say, I would recommend using a property management company.
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185
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Interesting topic, Glen.
What are people's feelings about locations for future rentals?
We are on-island and eventually would like to have an income property.
I'd love to hear people's opinions on best locations.
Robin
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As a past landlord, any conveinent (to jobs, roads, public transportation) location will have good rental potential. Things to remember: highly desirable properties rent for more, but usually cost more (this is a duh hey, but some people forget this basic).
If you are looking at a property for strictly rental purpose, or at least as a long term rental, it is best to look very carefully at it as a LANDLORD. How easy is it to break things (this can/will happen, a sturdy structure will withstand rental use/abuse better than a more decorative one)? How easy is it to repair things, and try to think about how costly the repair could be (that toilet may/will overflow, what damage can that do to the rest of the structure)? How easy is it to maintain this property (ie. anything by the ocean will need frequent check ups, as the salt air does a number on many different things, esp. any metal, and any landscaping will morph into amazing things here if not tended to, etc.)? How much are you willing to budget for the maintenance, and what is your backup if something exceeds this budget (systems seem to fail in tandem....Peter Principle)?
What are you willing to put up with (renters can range from fanatastic to a nighmare you cannot get away from - and some can morph over time!)
As far as areas in Puna, along 130 from Nanawale through Pahoa and into Keaau are good rent potentials, along 11 from Moutain View all the way into Hilo (and of course Hilo) have good rent potentials. For up & coming neighborhoods, HPP, Orchidland, HA, FA, et al (all have good qualities, but have some considerations as a landlord, inc. lack of public services). For retreat type rentals, in WaaWaa, Kapoho, outer Kalapana (may be the best land for rental value right now, as long as the structure is mobile).
Choosing to be a landlord has a lot of responsibilities, and can have some significant costs. It is best to go into this with your eyes wide open & talk to & even work with a competant propoerty manager before purchase.
Aloha, Carey
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That law makes perfect sense to me. Although this is very premature, if any wishes to suggest a property managing company they have used, that would be great.
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Aloha Glen,
I have a rental property in HPP and am looking to get into property/vacation management for others as well.So you can email me if you would like to discuss it further. 
IMHO the rental market seems to be following along the same lines as the RE market.
So you should be fine if its only short term until you can live here.
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Glen,
We have used Ginoza Realty since 1990 for rental management of 2 houses in HPP. When we started with Carol G. she did not manage properties much further away from Hilo than HPP. I do not know if that has changed. She has a reputation for being quite selective in evaluating potential renters.
The rental market seems to be somewhat soft right now, so keep that in mind in evaluating a place to buy.
It would probably be a good idea to look into rental managers before buying so you do not buy a house in an area where it is difficult to manage. The previous rental manager at one of our houses clearly did not do a good job.
Allen
Baton Rouge, LA & HPP
Allen
Finally in HPP
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Hi Allen, Mom, and Carey,
I just checked some ads in the Hilo newspaper which I found by Googling. Wow, rents are pretty darn low in Puna. Amazingly low really. My teeny tiny studio condo in the French Quarter in New Orleans rents for more than some entire houses in HPP.
Carey are you suggesting structures in Kalapana should be mobile for the reason I think you are --- LAVA? I am in a very fragile state of mind with respect to lava and catchments. I was just starting to accept the existence of both! Carey -- you make an excellent point about choosing a property for rental versus one to live in. When a property is "precious" it may not be as good a rental. I am just coming to understand that.
Punamom -- I will e-mail you, although I, uh, haven't set foot on the Big Island yet. Always good to do your research first! And I will definetely have to rent out any place I get, unless I can persuade my partner to take a job at Hilo Medical Center and move before me, to kind of get our bearings.
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Day-Lum and Ginoza are the two largest property management companies but Day-Lum does not manage properties in certain areas so you should check with them in advance. I also privately e-mailed you a real estate investment work sheet that you will find helpful.
Aloha,
John S. Rabi, ABR,CM,CRB,FHS,PB,RB
http://www.JohnRabi.com
Typically Tropical Properties
75-5870 Walua Road, Suite 101
Kailua-Kona, HI 96740
(808)327-3185
Edited by - John S. Rabi on 09/13/2006 15:16:23
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Glen, outer (west) Kalapana is land that that is just returning to the market after lava, hence is very inexpensive for the beautiful views most of the lots offer (not many trees). There is far less chance of lava overtaking your house any where here than fire (the consistant lava potential areas are on state & fed lands). The mobile structure statement was more on the fact that there are very few amenities, that the jungle could overgrow a fantastic view, or that the area may evolve into a much nicer area and for the obvious, you can move your investment if needed. This area is very stark & very interesting & very remote & intrigueing.....but not if you need to go someplace daily.
Catchment water is not difficult, is easier or equal to the upkeep of private well, which is not a lot of upkeep, check it every once in a while, change the filters when they need it....alot easier than maintaining a car, or even a bike here (gotta keep it greased).
Aloha, Carey
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