Real estate investors are always looking for opportunities. Sometimes these may be found outside of their country of residence.
As more people look for ways to invest in Hawaii and specifically in Kona, they want to be sure that their capital is safe in all ways. A major question that’s often asked is whether people who aren’t Hawaiian citizens can safely invest in Kona.
Land In Hawaii Can Safely Be Owned By International Citizens
There was a time in Kona and in other parts of Hawaii when land could not be owned by private citizens. Land could only be owned by the king and all the chiefs affiliated with the monarch. However, times have changed and now a private citizen can purchase land for investment purposes.
In order to be considered a resident of Kona, a private citizen has to pay Kona state income taxes and fulfill other requirements. If you’re not paying income taxes in Kona, you aren’t considered a resident and different laws will apply to you, even though you’ll be free to purchase property.
Get Advice On Hawaii’s Laws
Hawaii has laws on real estate that may be a little different from those that you’re used to. For example, the land that you buy in Kona can’t be used as your permanent residence unless you meet certain requirements.
This is the case in almost every jurisdiction, so if you’re making an investment in land you always want to be sure that you’re following local laws. In most cases, non-Hawaiians can only use the property they purchased as a vacation home or for investment purposes.
Experts at Investinkona.com can answer many of the questions that you have about buying property in Kona. You should also speak to a real estate lawyer who is knowledgeable in local laws and can help you to make the best decisions about the property that you’re interested in.
Exceptions for U.S. Citizens
If you’re not a resident of Hawaii but you’re still a US citizen, you have more freedom in the use of your land than someone who is a citizen of another country, such as Belgium or Ireland.
U.S. citizens who aren’t Hawaiian residents are allowed to use the property that they purchase in Kona as their permanent residence. If you’re a green card or visa holder, the same privileges apply, so you can purchase Kona property with your green card status and use it as your permanent residence.
