Hawaii License Law
What is 'property management exemption' from the real estate license requirement in Hawaii?
AA. All property management activities are exempt from licensing in Hawaii
BB. Resident managers managing the property where they live may be exempt; employees performing property management exclusively for their employer's own properties may also be exempt, but fee-based management for others requires a license✓ Correct
CC. Only commercial property management requires a license; residential is exempt
DD. Property management companies under $100,000 annual revenue are exempt from licensing
Explanation
Hawaii license law exempts certain property management activities: persons managing their own properties, resident managers of the building they live in, and employees managing their employer's own properties from the requirement to hold a real estate license. However, a person or company managing properties for others for compensation must be licensed.
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Key Terms to Know
Gross Rent Multiplier (GRM)
A quick valuation metric for income properties calculated by dividing the property price by gross annual rental income.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
State-Specific Concepts
License Law
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