Environmental
What are 'ocean acidification' and 'coral reef bleaching' and their relevance to Hawaii coastal properties?
AA. These are natural phenomena with no effect on Hawaii property values
BB. Ocean acidification degrades coral reefs; bleaching events kill coral; both affect Hawaii's reef-dependent coastal ecosystem, beach stability, marine tourism, and ultimately the desirability and value of coastal properties✓ Correct
CC. These phenomena only affect commercial fishing businesses, not real estate
DD. Coral reef issues are only relevant to properties within 100 feet of the ocean
Explanation
Hawaii's coral reefs are critical ecosystem services—they protect shorelines from wave energy, maintain beach sand, and support tourism and recreation. Ocean acidification (from CO2 absorption) and warming-induced bleaching events threaten coral health.
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Key Terms to Know
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.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
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.
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