Property Valuation
What is a 'green building' appraisal and how are energy-efficient features valued in Hawaii?
AA. Green buildings are appraised identically to conventional buildings with no premium
BB. Appraisers may give value to energy-efficient features (solar, efficient HVAC, insulation) when market evidence shows buyers pay more for them—particularly significant in Hawaii due to high energy costs✓ Correct
CC. Green building certifications automatically add 10% to a property's value in Hawaii
DD. Energy-efficient features reduce value because they require specialized maintenance
Explanation
Hawaii's high electricity rates make energy-efficient features particularly valuable. Appraisers use paired sales analysis to identify whether buyers pay a premium for solar systems, energy-efficient appliances, or green certifications. Studies show solar panels add measurable value in Hawaii's market, and appraisers increasingly have tools to quantify these benefits.
Related Hawaii Property Valuation Questions
- In Hawaii, 'reconciliation' in the appraisal process means:
- In Hawaii, the term 'economic life' of an improvement refers to:
- What is 'allocation method' for land valuation and when is it used in Hawaii?
- What does 'progression' mean in Hawaii real estate appraisal?
- In Hawaii, what is the effect of a view on property value?
- Which of the following is NOT a recognized approach to value in a formal Hawaii appraisal?
- What is 'as-is' value in appraisal and how does it differ from 'as-repaired' value?
- In Hawaii, an appraiser must be licensed or certified to prepare an appraisal for use in a:
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