Property Valuation
In Hawaii's competitive resort market, which factor would most likely increase a property's market value?
AA property located in a high lava zone
BAn ocean-view location with low-density zoning✓ Correct
CA property with deferred maintenance
DA property near heavy industrial use
Explanation
Ocean views, desirable locations, and low-density zoning are significant value drivers in Hawaii's resort real estate market, as these features are scarce and highly desirable.
People Also Study
Related Hawaii Questions
- In Hawaii, an 'as-is' clause in a purchase contract means:Contracts
- In Hawaii, a 'coastal zone management' permit is required for development in the Special Management Area because:Land Use & Zoning
- What is 'Hawaii's Coastal Zone Management Program' and which state agency administers it?Land Use & Zoning
- A planned unit development (PUD) in Hawaii is characterized by:Land Use & Zoning
- A Hawaii residential building has 10 units each renting for $2,200/month. With a 6% vacancy rate, what is the annual effective gross income?Real Estate Math
- In Hawaii, a 'transfer of development rights' (TDR) program allows:Land Use & Zoning
- In Hawaii, what environmental document must a county agency review before approving a project that may significantly affect the environment?Environmental
- A Hawaii property manager's office handles 80 properties averaging $2,500/month each. At 9% commission, what is the annual revenue to the property management company?Real Estate Math
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
VarianceOfficial permission to use land in a way that does not conform to the applicable zoning ordinance, granted by a zoning board when strict enforcement would cause undue hardship.
Study This Topic
Practice More Hawaii Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Hawaii Quiz →