Property Valuation
In Hawaii, the cost approach to appraisal is most useful for:
AA. Vacant land valuation
BB. Special-purpose properties and new construction where few comparables exist✓ Correct
CC. Income-producing apartments
DD. Properties with high turnover in a stable neighborhood
Explanation
The cost approach is best suited for special-use properties (churches, schools), unique properties, or new construction where comparable sales are limited.
Related Hawaii Property Valuation Questions
- In Hawaii, gross rent multiplier (GRM) is calculated by dividing:
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- What is 'allocation method' for land valuation and when is it used in Hawaii?
- The appraisal principle that states 'value is created by the expectation of future benefits' is known as:
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