HOA’s on Oahu
The Pros and Cons of Homeowner’s Associations
You love the house, you love the neighborhood – but the idea of a homeowner’s association (HOA) bothers you. When you purchase a dwelling in a community governed by an HOA, you must abide by their rules, and you must pay their fees. On Oahu, all sorts of communities have HOAs, including condominiums, townhouses and single-family subdivisions. Although many people assume that HOAs are primarily found in gated communities, that’s not the case. Before you make an offer on a home, find out about the rules, regulations and costs associated with that particular HOA. Also look at the HOA’s latest budget, which shows where dues money goes.
The Case for HOAs
Fees paid to the HOA keep up the common area. That includes the guard in a gated community, as well as amenities such as swimming pools, tennis courts, clubhouses and the like. For those monthly fees, you have access to all of those amenities without having to deal with the upkeep. Many communities don’t have these perks, but HOA fees also cover maintenance, landscaping, insurance, garbage pick-up and other necessities. In some cases, the HOA fees cover water and electricity.
HOAs Aren’t for Everyone
Frankly, there are people just not temperamentally suited for HOA living. You had better like the way the dwelling looks, because you can probably make only minimal changes, especially to the exterior. Restrictions are unique to each HOA, but it’s not unusual for them to include permitted types of holiday decorations, how early you can put out trash for pick-up, and similar limitations on your personal decisions.
There’s another major “con” aspect to HOAs. If you stop paying your HOA fees and assessments, the HOA can put on a lien on your home. As part of the lien, the HOA can charge interest, legal fees, late fees and fines for HOA violations. If you don’t pay up – even if you are current on your mortgage – the HOA can foreclose on your home. That is why not paying fees in an HOA dispute isn’t a viable option.
Attend Meetings
There’s probably a million other things you’d rather do than attend HOA meetings, but it’s important to show up regularly. Find out firsthand how and why the board of directors makes certain decisions. As an HOA member, you have the right to voice your opinion during the public portion of the meeting, and to contribute ideas for the betterment of the community.
