Real Estate Math
A Hawaii condominium association has annual expenses of $480,000 shared among 40 units equally. What is each unit's monthly assessment?
AA. $900
BB. $1,000✓ Correct
CC. $1,100
DD. $1,200
Explanation
Annual per unit = $480,000 / 40 = $12,000. Monthly = $12,000 / 12 = $1,000. Using the values given ($480,000), apply the appropriate formula.. The correct answer is B. $1,000.. This is a common calculation on the Hawaii real estate exam.
Related Hawaii Real Estate Math Questions
- A Hawaii property sold for $1,180,000. The listing broker received 60% of the 5% commission and the buyer's broker received 40%. What did the buyer's broker receive?
- A Hawaii developer buys 5 acres at $200,000 per acre and subdivides into 20 lots of equal size. If they sell all lots at $60,000 each, what is the gross profit before development costs?
- A Hawaii condominium owner's HOA fee is $750/month. Annually, this represents what percentage of a $300,000 unit value?
- A Hawaii lot costs $380,000. A developer builds a home for $520,000. If total value is $980,000, what is the profit?
- A Hawaii buyer's gross monthly income is $12,000. Using a 43% DTI limit for total debt (PITI + other debts), and the buyer has $800/month in other debts, what maximum PITI payment is allowed?
- A Hawaii condo listing has 850 sq ft. The price per square foot is $780. What is the listing price?
- A Hawaii condominium complex has 50 units. Each unit owner's pro-rata share of common expenses is based on their percentage of the total project. If total annual expenses are $600,000 and Unit A owns 2% of the project, what is Unit A's annual assessment?
- A Hawaii commercial building has 10,000 sq ft of leasable space. The rent is $35/sq ft/year. What is the annual gross rent?
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →