Not much to report. That’s good. No news is good news.
The last four balconies are being worked on. Our entire low interest loan, 3 million dollars, is going to be just enough. We have spent 2.9 million on the balcony structure replacements. We still have funds to upgrade the downstairs patios which should start in September some time. After that, next year, with a separate budget, we start the “refurbishing” project which includes painting as well as wood and stucco repair.
The smart guys in the University tell us that Hawaii will not have a recession, even if the continent does, so rentals should be strong. Unemployment here is two per cent, so it is very, very hard to find contractors who aren’t too busy to return your phone call.
The ocean temperatures are rising from the climate crisis as well as an early El Nino condition which means a more active hurricane season this summer. We are going to make sure the trees are trimmed safely.
Our Board stresses out over property managers who see their only responsibility as leaving off the keys and doing a thorough cleaning. It would be nice if they looked for potential problems like leaking ice makers and slow draining sinks, etc. Visitors rarely report these problems. We are VERY worried that our insurance company will drop us because of too many claims. Please contact your property manager and ask them to do more inspections!