Property Valuation
In Hawaii real estate appraisal, what does 'highest and best use' mean?
AA. The current use of the property regardless of alternatives
BB. The most profitable, legally permissible, physically possible, and financially feasible use of the property✓ Correct
CC. The use that generates the most rental income only
DD. The use designated by county zoning
Explanation
Highest and best use is the use that is legally permissible, physically possible, financially feasible, and maximally productive, determining the basis for value estimates.
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