These Look Like Tiny Homes Until You Step Inside Ahakea at Ho opili

These might look small, but these are actually some of the biggest houses that you could buy in Ho'opiri. Living room, kitchen, big 12-person dinner table right here. Upstairs, second living room, entertainment center, 95-inch TV, Super Bowl action. Big bedrooms, king-size bed, home office, work from home. This AHA Kea model, it's kind of like that Harry Potter tent where you go inside and it's huge. Check it out. Gotcha. Just kidding, guys. We have to redo this AHA Kea video. The original video had tens of thousands of views and was going viral, but I just had a conversation with the head of the DR Horton sales team. Keep watching and you'll see what happened. All right, guys. So I just had a call with the head of the sales team from DR Horton. It eased me to know that they actually loved our last video. It was going around the circles for positive reasons saying, guys, check out this video. They did an amazing job. It's going viral, et cetera. And so we're going to redo that video and then we're going to get into some numbers. Aidan and I are going to underwrite the deal and show you why AHA Kea makes sense for the right people. Why people are foregoing townhomes in the Ewa area to buy this AHA Kea thing. Why townies who otherwise would buy condos are buying this because it's close to the rail. We're going to underwrite that to show you guys how the math maths. But do you think this will appreciate at the same rate as single family or as townhome? All right, Mahi. I think that today's video is going to spark a lot of comments, a lot of intrigue, maybe some outrage, maybe some joy. Nothing we've ever seen before. I mean, you can see behind us. They're not huge, right? The size is what you would expect more of a townhome to be, but you don't have any shared walls. We talked about affordable housing, less expensive housing, more housing on Oahu, which we are lacking. And DR Hurton has made AHA Kea the smaller, single family, detached, low maintenance fee, standalone homes. Affordable housing, a lot of the time, the argument is nobody like live in that or, hey, that's not really affordable. What do you think? Are these homes truly affordable and would you live here or would you pick a townhome? All right, guys. So you might hear a little bit of noise today. This is an active job site. As you can see, we're going to take you on tour of the model homes, Gen 4 and Gen 1. So we have the biggest and the smallest of the four types of homes you can get in AHA Kea. Speaking of construction, you know, I hung shelves this morning. Oh, well, first of all, I don't know that that's construction. Driveway anchor. I know about all this kind. Okay. Before we pop into the Gen 4, let's talk about the driveway. Part of buying a detached or a single family home is you don't have to walk someplace to your parking. Sorry. So that's the difference between a townhouse and a single family here in AHA Kea. You do not have a carport. You do not have a garage. Always check your HOA docs to make sure to our understanding you cannot add a carport. That was one of my first questions. Okay. This is my starter. If I don't want to move on from, how can I extend? I would either want to add square footage, add a carport, add something. No can't. So this is what it is. It is a wide driveway and it is definitely enough space to park two, even two pretty big lifted Yotas could park. You could even put Kenji's lifted F-150 and a Tacoma in this. You could put Kenji's lifted and now Derek's lifted as well. So you have a tandem parking. It is plumbed or ready for EV. So if you want to add panels, you can. Doesn't come with panels. Comes with one solar panel for your water heater. But as far as the exterior, pretty straightforward. Just the driveway. You will have fencing. Will come with fencing. We'll talk about that a little bit more when we get inside when it's a little bit more quiet. I want to give a quick shout out. Yesterday I was at Lowe's and I met Quincy and I saw this other guy who watches the channel, The Drain Daddy. Forget his first name. The Drain Daddy. Amazing. I love that marketing. That's his business name. When you see us out in public, please say hi because I don't want to be yelling at my kids or scolding them and you know me. Also please say hi so that we don't go, what's your problem man? I had that at the coffee shop the other day. This guy's looking at me and I'm like, bro, what you looking at? I think it was Steven. So shout out to Steven too. So this is a Gen 4. This is the biggest model in Ahakea. Downstairs is the living and I guess kind of like a dining nook where Derek is sitting. Set it up however you want. Some people do not want, do not like, do not need a dining area. So make it all open living space if you like, if you prefer. Right now they kind of have it set up with a dining nook and then a smaller like loveseat situation here, which honestly that probably kind of fits the space the best. This they have sort of a butcher table floating island situation. Doesn't come with. This is just something they put in. So feel free to do something like this or not. Surprised that they did this because you want to try and make a small place feel big. But you know what? There's not that much counter space. Yeah. So it corrects for that. Yeah. Below $700,000 right now during these releases, that's the price point for this model here. So you're not going to get a chef's kitchen guys. You're not going to get this huge thing. But this is similar to what you would see in a real small single family home, which it is, or a townhouse, right? So it does come with all of the appliances. Everything you see here is already going to come stock in these units. Ahakia is different from like what Ikena, Ikena didn't have the fridge, right? Like it had this and this, but you have to buy the fridge separately. So this comes like this already. Comes with the fridge. The split ACs will be here. There's not a ton of options as far as upgrading, making things customizable, but what you can do is your window treatments and you can do like ceiling fans and lighting fixtures. This is probably an upgrade, honestly. Typically I would assume this comes with a junction box, but since this is a model home, we do have like a nice big lighting fixture here. Not necessarily relevant to you buying Ahakia with us after you went to coreteamhawaii.com, went to the bottom, filled out the contact form and hit us up for all your real estate needs. But for the people selling, because we have this conversation all the time, can you see how a ceiling fan hanging down 18 inches would sort of impede this space we always get from sellers. You want me to get rid of my ceiling fan? Are you crazy, Derek? No way. I love my ceiling fan, but you have AC, we're going to make it feel cold and great in here. Make it taller. You know, like Kenji six, two, three over there. You want to make the space feel as big as possible. And so obviously the professional designers did that in the space. Something to think about for the sellers. One of the questions I want you guys to answer by the end of this is, would you take a townhome, a second story walk-up probably has a $400 plus maintenance fee, or would you take this where the maintenance fee is only $63? Yeah, it's below 70 for any of the models, the master association being the greater ho'opili at large. So for all of the parks, Soho, all of that $83 association fee, $63 maintenance fee. But would you rather have a townhome that's wider and just a little more of a natural space that you would expect? But you are attached and you have a greater maintenance fee. Which one would you have? I'll tell you, we have clients who are an escrow for a townhome in here. These came out shortly after they locked that up. We went and met them and we said, Hey, did you see Ahikea? Would you prefer Ahikea? And they said, we were challenged by it. We actually prefer the townhome over that single family-ish thing. I get it, but I also get why people would want this. So I want to know, what would you take? These or those? The bedroom downstairs in the Gen 4, biggest model. Comes with a split. Every room will have your split. This one is wired with a ceiling fan. It's a little bit lower profile ceiling fan than normal. I don't think you need that. Like Derek mentioned before, when you have AC already. AC, you're going to have a couple of days, whatever you want to call it. You're going to use your AC. Use AC. Yeah. Trying to imagine the space because they made this blue because that's consistent with the builder's branding. But you're not going to go to the builder, you're going to go to our website, coreteamhawaii.com. Shameless plug. Come to us first. We want to be able to help you and we can only do that if you come to us first. So coreteamhawaii.com first. But the wall's dark. Anyways, it's 10, 10 by 11-ish or something. It's like what you would expect. The closet is what you'd expect. Extra storage. So you have a normal closet, but then also this extra space here. Shower downstairs. Can I reach my back? Actually, you know what? This is a bigger bathroom than I would expect for the sizes of the house. This is like a nice big bedroom. No, actually, yeah. Because this is a 48 inch vanity maybe. I would expect something small in a place like this. It's a good, nice full size and it's not an en suite. I would assume this is kind of like the primary of the house down here, but the bathroom is outside of it. You know what though? It's actually nice to have a big bathroom and a small home. Sometimes you can sit in here with your phone and you'd be in here 45 minutes just getting away from things, right? Yeah, you would. You would too. Everybody would. Tell me if you would. Let's go upstairs. All right, guys. So to address negative comments like these, we're going to underwrite a few deals. Let's just look at it pragmatically. Let's compare Aja Kea financially, let's underwrite it, compare it to a couple of single family options in a similar price range and size and even a townhome option. Because after all, Aja Kea is really competing sort of against small single family, sort of against townhomes. Let's compare the first home, it's a single family home in the Ewa Gentry community of Lombard, built in 1999, three, two and a half, two parking, a little under 1,100 square foot. You would buy this for $640,000 potentially, $100,000 payment across the board in all of these scenarios. Your loan amount would be 540 versus the 650 if you were buying Aja Kea. We put in the same interest rate, taxes are the same essentially, insurance is the same, but the big difference here, HOA dues. There's a $900 HOA due, HOA and maintenance fee when buying this particular single family home that is already 26, 27 years old. And so your total monthly payment on this home would be in the ballpark of $4,474, whereas with Aja Kea, you're getting a brand new build, a lower maintenance fee and HOA dues and Aiden has something on that later. We expect that this will actually stay lower for a long time and we'll tell you why if you stay tuned and a $4,124 payment. So you're saving, you have a newer home, a more modern home and potentially the outlook is that this disparity would only get larger with time and we'll talk about that after Aiden compares the next property. When I was coming upstairs and Mahi told me if you felt this, I started to feel like, oh- I did too. Nice. Yeah. Even without seeing this loft over here. Yeah, even just coming around the corner, I was like, oh. I don't know if it's the lighter colored carpet that's soft, but something about it, I was like- No, you know what it is- I like it more when I got here. It's because there's this open space here. When you have like a cathedral like this, it just makes it feel like nicer. Whereas you coming into a condo, you're walking in, it's just like wall, wall, wall everywhere. I'm like, oh, okay. Yeah. Cause this could be just as grand as like a $1.2 million Ikena or something. Yeah. When you have this big space like this. Yeah. I really liked it as I was coming up and then I said, oh, pretty nice. I don't know if it's the wallpaper that did that to me, just the fact that I'm thinking smaller starter home and then I wouldn't expect this extra space. Then we started to get into what would we do with it? I know some local family is going like, oh, I can put one wall over here, go put one door over there. Boom. Why gotta be only local family? Because that's how we do. We like bring everybody home with us. Yeah. Anyone who's trying to make the most out of a little, I don't know that the HOA docs say you could do this. I doubt DPP probably doesn't say you could do this. Probably not. Yeah. But like I said, we running AC, windows closed, nobody can see what we're doing, right? At first I started to think, would I put the TV over there? I like this, but then that noise is going to go downstairs. And as Kenji astutely pointed out, you better not lose the remote. Don't let your HDMI cable get loose. And so then I was like, well, maybe I put a wall up here just at least partially so I could have my TV. That's pretty tight. And then we started to think someone could put a wall here, a wall here and treat that like a fourth bedroom option. There are situations where people sleeping on the couch, which is what Ohana's gotta do, right? I would rather have this safe space closed in. It's not ideal, but it is what it is. You do what you gotta do and you make things work, right? We all do it. We know. So I'm not putting the chair over here because I don't trust my kids. Like unless there's a wall up here, I'm not putting a couch on this side. That's a good point. If you didn't, I didn't even think of that. If you didn't want to do anything and just wanted a TV, you just put the chair here when you don't have little kids. If you don't have little kids. And then you just put the TV there. Yeah. That's a good point. Developer did let us know that all of these houses, even though they're like on the smaller and they did try to make an intentional extra space. So you'll see something like this in every home. Let's smell this candle. Not as good as the one. Not as good as the infamous candle episode. No. So many people talk to me about that. Then you have two bedrooms, one bathroom up here. So it's a... Washer, dryer's in here. Two, one, plus a loft and an upstairs washer, dryer up here. Same size bathroom. The same thing again, except for there's a tub up here. I like it. Again, another safe space. It's a doom scroll. 14 Hawaii YouTube videos. LVP in the common spaces and then the hall coming up the stairs and then the bedrooms themselves have the carpet. Hey, how's this closet? Oh, that's deep. In the bedroom downstairs, this was a pantry space. Actually, this was a pantry space. Why does this exist? Why is that bigger? I don't know. Is this a queen? I feel like this is a fool. When I first moved back home, we put a king in a place like this and we just did this next to the bed because I'd rather sideshuffle in the morning and sleep comfortably, right? You know what I probably do in a place like this? Murphy bed. Yeah. Put that thing up. Make my bedroom feel bigger when I'm not there. I'm not going. No? Because I'm lazy. Because I don't want to make my bed every single day. No need. Oh, Mary! We good, we good, we good, we good. Mary! You guys have to sign this waiver, right? I know! Hey guys, one thing about these homes, they're half off. Not half off price, but you figure when you got to replace the roof one day, it's going to be half off. Gen one. This is the smallest model, 880. It's a two bedroom. I actually kind of like that. We all three are having the same reaction. Earlier, I was like, do you guys want to run in the other one real quick before we shoot? And Kenji said, no, no, save it, save it, save it. Well played Kenji. I walked in this and I like it better. I like it better too. Maybe because you're entering from the front instead of a side. Assuming this weren't stairs and you enter and it's, you know, 36 inches. Yeah. It just feels small. You enter into the house. Usually when you think of open concept kitchen, you think of like kitchen this way, living room this way, not perpendicular to one another. Right? Yeah. But this actually flows and feels more conducively open. We'll see how we feel as we walk through it. Yeah. They only accomplished two bedrooms. There's only two bedrooms. So they had more. I made a joke, a dad bad joke about the half off thing. I told you before we came in that I just assume I want the ones that are more like this. I don't want the half off. Yeah. Cause it just looks smaller. Like why am I getting half a house? And then this one feels bigger. Feels bigger. And I don't know if I'm making this up in my head, but not even including like this bar. Is it a little bit more counter space to here, here and then there and there too. So I feel like in the other house, was there even this much space on one of the existing like countertop? It feels more because there's no corner. There's no 90 where you have that, like we stick our blender back there and never use it. Yeah. You don't have that in this. It's all usable. Aesthetically. I like this. Love it. Does that open? Yep. Nice. Oh, nice. Love that. So I like this. However, in our last home, we had a bar and we never ate at it. Oh, what can you, how was your day? But like if I'm not at a restaurant, I don't want to eat like this, even though like the feel and the look, I know I'm not going to eat here like this. I probably don't eat here either, but effectively, I bet you my kids do homework here. Maybe you put a big mirror. I hear you, but it's a small house. I want to actually have like furniture there. For instance, in the gen two, one of the other models is pretty much the same as this, except one of these spaces is a bedroom. I'm pretty sure this space back here is actually turned into a bedroom. I like the option, the opportunity in a home that's only 880 square feet, even though like effectively, I'm not like, this is not my ideal. But 880 square feet is not my ideal either, to be honest. And if I'm in a home of that size, I do like that there's something already in place to, I don't feel bad about making everything else living space. I'm not mad at the decision. And actually, I think that somehow the level of change just makes it all work better. If it were flat, it would feel more cramped because you wouldn't have this openness, but I just don't think I'm going to use it. I think this is your purse, wallets, and this is, you know, whatever. And then we go to these different living spaces. But to your point, there's two. There's like a true separated dining space, a kind of real mini little living room. And I like this better. You know, so that whole open concept thing is assuming you have space. I like a little separation, a little segregation. When we don't have much space, like get away from me. This is better. Yeah, I think so. Like I'm thinking about in our office, putting a wall between me and you. I would love that. Keep thinking about it. By setting the bathroom all the way back, you didn't have to make a narrow hallway on the side of the house. Yeah. See what I mean? Like the bathroom's all the way back here. You enter it from here instead of from the side. And it made for a more open. It's kind of hourglass-y, yeah? It's right here. It comes in and then it opens up. So it's kind of hourglass-y. I don't know. So far, raw, authentic first impressions. We like this one better. So in the other home, in the Gen 2, the way it's different is you come in, the living space is exactly the same size as it is there. You come in here, the bathroom gets pushed to the front. And then this is the bedroom. So just a little bit of a flip. But the space, as far as how big is the bedroom and how big is the living room, that space that we're entering through from the front of the home in the Gen 2 is exactly the same size. So we would have to use that. And to be fair, they're the exact same size in this model right now. So you could accomplish this style of bigger furniture and more of a classic living space in that one. It can be done. It's hard to conceptualize when we're in that space the way it's set up now. But it is the same size. So Gen 2, you eliminate this, make it a bedroom, turn this type of living space situation into the front. I like this better. When you buy real estate, you should always be thinking about exits. So whether that's exit to rent, whether it's exit to sell, even though this feng shui is better. A lot of people are buying this thinking of temporary, whether it's three years on a military PCS tour, whether it's eight years while we go from starting our careers to leveling up, whatever the case may be. Three bedrooms exit better than two bedrooms typically. So something I want you to think about as you're thinking about these as well. Yeah. Number two, another single family home in Ewa, Gentry, Cortabella built in 2002. So a little newer compared to the first one, right? We are still 24 years apart between Ahakea, same down payment, 615 on the loan versus 651 and interest rate 6.21 versus 5.5. We're taking this as a owner occupied conventional loan. 6.125 is what the market is roughly going to give you right now versus Ahakea, a little cherry on top. You can get that down to 5.5 by using the builder's lender, taxes, insurance, lining up with what's on the MLS and HOA dues as well. Bringing that total payment to just north of 4650 versus Ahakea, right? Like Derek said, 4124. And some of these communities, not just the ones that we're comparing, even others, the maintenance fee may involve a swimming pool, et cetera. But in Ho'opili, you also get the swimming pool and you're right next to the Kroc Center. There's other advantages to being in the Ho'opili community that are spread out across the association fee, not the maintenance fee. Differences, so association is like Ewa, Gentry, Ocean Point, every home in Melilani, every home pays $40 a month. The maintenance fee is like, oh, we have to maintain this clubhouse. We have to pay for insurance together. Maintenance fees, big HOA fees, association fees, typically small. And so while these may be paying for a swimming pool, et cetera, and yeah, you get something for it. You also get insurance for it. You don't have to worry about that here. And you still have a community pool. This is my rectangle. This is my house. Those stairs went half, landing half. Yeah. And so you were able to get a bonus space upstairs. These push to the side, which made the downstairs feel better. But since it's like a third of the home is a staircase, there's no space for a bonus like loft up here. Do you like the bonus up or down? It's just, you know, it's going to dictate what's the people's living situation. Yeah. Do you have two kids who could never share a bedroom? Do you need to separate humans? Or is it just you? If it's just me or just my wife and I, I like this better. I take the two bedroom. What's the price difference between these two? $30,000. It's just tough because then if this is $80,000 less, easy. My decision. $30,000 less. I'm thinking of exits, probably go with the three bedroom in the end. Here's another thing about my wife and I living in here alone. Even though the downstairs of that one is not as conducive, we can turn that bedroom into an office as they had it. And be separate. Have that separation. We have a loft for separation. I probably bite the bullet and go three bedrooms in the end for reasons of exit and just more spaces, but that downstairs feels way better. It does feel way better, but I agree. I like having, because there's already a living space downstairs for that. And then the bonus is upstairs. So just like if small house, you want to kind of get off of each other every once in a while. It's nice to have a nice, comfortable space. Yeah. On both levels that aren't your bedroom. You're putting all your eggs into the ground floor basket on this one. Yeah. If it's just one person, I probably take this one. Just me and Kyle. This one. Oh, you and your husband. Yeah. Also this one. Still yet this one. But we haven't been married that long yet. So maybe ask me a couple more. You always got to be thinking of exits. I like the way they did this, the way they designed it. Cause they have like a Pune style bed in the corner there. I was just going to ask her for the Hawaiian day bed name. Is this room bigger than the other bedrooms? I don't think it's bigger. I think pigeon sentence of the day. I think they went zero lot the bed. Let's go over what a zero lot is. No, it is bigger. Is it bigger? It is bigger. It's actually bigger. It's actually. So let's say that this is the lot that your house is on. 2000 square foot. And for most of these, and then let's say this is the house. You put the house in the middle. You barely have any yard, right? You just kind of go around like a King bed in one of these. That's what these are. But you put the house over here, which I'm surprised they didn't zero lot. If you put the house over here, look at all this yard space you have. I like zero lots when you're trying to make the most out of a little. And similarly, if I had a room like this, the bed's going to be pushed all the way to the corner. Guarantee. We can talk real quick about the positioning of Ahakea within Ho'opili. We are on the older side of Ho'opili. So like where Soho Community Center, where all of the kind of the stuff is. The other stuff that's being built, like Pohaku Estates, where like Molehu and all of that stuff is, is on the other side of Barrington Highway. So we're on the Makai side of Barrington Highway here. If people are splitting hairs and complaining about the other new side, where like Alana and Kapili are being built, it's that they wish they were a little bit closer to like the community centers and the soccer park and all of that stuff will be here. Let's say maintenance fees between Kapili townhomes were $63, like these Ahakea single family detached homes. For me, not being as close to the freeway, even though some of our clients live in some of them, you don't really hear the freeway and stuff like that. I'd rather be one more stoplight down closer to the community center, the pool. Even if I preferred that living space, even if finances were the same, I would take this on this side. Now they're all first world problems. I could live in either, but that's a good point. That's important to me. Also, cue the mountain view. As you can see, they're building here. So this, uh, this expansive, like half view isn't always going to be there. And also you might not be on the perimeter of Ahakea and you may have kind of like no view at all. Well, let's talk about perimeter versus interior real fast while we're here. If you are a perimeter like this home is, you are what's called alley load in Ho'opili. For alley load, the benefit is that for us families that have more than two vehicles, we're like, Hey, I need more parking. You, when you're alley load, you're up against the street like this and you have access to street parking because you don't get extra parking within the actual little community itself. So the con is that maybe you like more privacy, so you don't want people who are on their walks having, you know, a view into your yard. There are three foot metal fences on the outside of alley load homes. If you're in the interior, you will have six foot vinyl fencing all the way around. Kind of the pros and cons of interior versus perimeter. You know, another thing, small detail, but look at where you guys are standing. If you're the person who has this room, so you're a teenager who wants to be on phone calls or whatever, you're in a through fare. Whereas in the other model, the staircases are in the middle and so the bedrooms are separated. This person has a bit of like privacy impediment. Even if the doors close, you just always hearing. Walk-in closet, love a good shiplap and a leaf print. That's not really shiplap. That's just the new accent wall that's in style. I like this lighter color with the greens there. Would the primary suite shift you in the event you have one kid, you have enough bedrooms for the both of you and then a good living space downstairs with a primary suite. And this, because it's a primary suite and the door being so far away, this feels like a little bit more of a sanctuary for you. You can get away. Yeah, it does. So this door is closed. You got your bathroom with busted a Kenji. You have your bathroom over here. This feels a lot bigger. I don't know what my final decision is, but if I was just my wife and I, this definitely shifts me towards this one. Yeah. If I have one kid, it still kind of shifts me towards this one, even though I don't have the loft upstairs because I have this, my own private space and this closet. It's way better. Yeah, I don't know. That's tough. Also, you know what? These windows is pretty good because the construction outside is not that bad with them close. I can open them. Let's see. Couldn't hear them. Whatever that they're like metallic. You sound that what is that? A true construction person, not just hang shelves with me. Tell me what that is. Like a metal noise. When I was in the Coast Guard, we had the needle gun. It's like this thing. It was like a tattoo needle. It like hits all the rust on the ship and knocks it off. It sounded like that. But even the nail guns, you can't hear it so much when the windows close. I'll be interested to know how the audio sounded. All right. No, it doesn't hit. Okay. Lastly, let's look at a townhome. Other people, people who are buying Ahakea may consider a townhome community like Spinnaker and Ocean Point. You'd be buying this for the high $600. Again, Aiden put the same down payment. So the loan amount on here is $599. Contrasted with $651 in Ahakea with the builder rate of $5.5. The market rate outside of the builder's rate is going to be a little higher in most cases. And then go down to the HOA dues. This townhome community has a $631 maintenance fee. If you put all of that together, PITI, principal, interest, taxes, insurance, plus maintenance fee and HOA, $4,521 for a townhome in Spinnaker, which is a community in Ocean Point. Still $4,124 for Ho'opili's brand new Ahakea community. Again, these are approximations. We are not the vendor. We're not promising you this payment or this rate, et cetera. These are approximations for underwriting and educational purposes only. But Aiden, why is it that Ahakea has a lower maintenance fee and we think that it will probably stay that way in the future? First things first, biggest point, probably going to be just the age, right? It's a brand new build. The things that need to be upkept or things that need to be replaced are going to be done way farther in the future than something that's going to be built in 1999 or 2002. Second, where the insurance policy is held. Now, Derek touched on this a little earlier, how some of these maintenance fees in the Ewa Gentry area are going to be specific and going to have specific community that have a swimming pool, has a rec center. But it's only for that one specific community, meaning that the maintenance fee that's attached to these single family homes in Ewa are going to have exposure to maintaining the pool, having insurance policies for not only the pool, the common area, and all the houses within it. Whereas Ho'opili, you have an association fee which has equal exposure to every single person, whether you're a condo owner, a townhome owner, or a single family homeowner. So if you have a swimming pool or something expensive you need to maintain, you'd rather that be spread out across 10,000 homes than 1,000 homes, right? It's cheaper. Well, it's the same cost, but it's spread out per person. Yeah, per home. Briefly, I'm going to get too technical. You can go to coreteamhawaii.com, go to the bottom, fill out the contact form if you want to really get in the weeds on this. Let's talk about and tell the people why the maintenance fee and HOA fee on this side is higher. So this is a community with attached walls. These are actual townhomes. And this community, they're single family homes, but they're condominium single family homes where there's a bunch of them all squashed together. And so these share insurance, these don't. How is that different? Yeah, well, these three on the right are going to have a shared insurance policy or a master insurance policy that covers everybody. And that's why your HOA is so high, because if you look at all of these reserve studies and how much of the money is being allocated to each expense an association has, a fourth to a third of your total maintenance fee is going to pay these insurance policies. Well, in the case of mine, the single family that I owned in Mililani, it was almost all of it was insurance. Even higher. Yeah. And I had the smalls, like less than a thousand square foot. We're all packed in together, you know, really small lots, dense zoning on the tax, you know, tax statement. But out of 400, all of it, it was essentially 95% plus of our maintenance fee was just insurance. And we went from $100 up to like $450, boom, for insurance. With a $5,000 special assessment. So in some cases, it's even more egregious. Whereas AHA-K is just going to be the lawn maintenance, eventually asphalt repaving, the common mailboxes, etc. And you get your own personal homeowner's insurance on the side. So it's not being billed through an association. AHA-K is brand, brand new. So although you are going to have an insurance policy that covers your whole house, which is more expensive, it's also brand new. So, you know, you're not paying as much because it is a brand new build as opposed to something that's 20 years old. That's a good point. On these, it's possible that you're buying one that was just flipped by the most responsible flipper. And they got a great roofer and they got, you know, did everything and painted and it's all perfect. But chances are there's some capex. Chances are that 20 year roof is at like 10 years. Chances are, well, we know that sewer lines been getting bombed by burritos for 20 something years now, right? There are things that are going to have to be fixed. We call this capital expenditures. And if the home's older, those just exist. Now, while your maintenance fee will take care of some of them. So siding, you don't have to take care of that. Actually, in this case, the roof, you don't have to take care of that. I have to look at these policies. I think these people pay for their own roofs. I don't know for sure, but it's possible that you have to pay for your own roof here, etc. You know that capex, big, unusual, non-recurring expenses are at least, you know, X amount of time out because you're buying something brand new. And while when you have to get your own insurance, it will cost you more than if you had to get just a supplemental policy. So in this situation, you have this master policy, and then you go get the small supplemental policy for your four walls, for inside of your four walls, right? You don't have to worry about roof and all that because the community takes care of that. In this situation, you get like single family insurance, right? Where you are responsible for outside and inside. But it's for whatever reason, it's not as expensive. The master policy where they're insuring a thousand homes is actually more expensive than if that person, you know, per person than if you get your own insurance. That's counterintuitive. So in my community where things went up to $450 per month for the maintenance fee, and really all of that was for insurance, I sat with the attorney and the insurance broker and said, why is this the case? If I go get my own insurance, it'd be about $200 a month. But with you guys, it's $400 something a month. Make that make sense. The explanation that they gave to me is, Derek, if we own a thousand homes clustered in, and there's a fire, there's a hurricane, and there's some sort of domino effect, we're super exposed all in one community, all in three acres, four acres, or however big the community is. If one person has State Farm and one has USAA and one has Progressive and one has GEICO, the exposure is spread out. So it's actually cheaper that way. Maybe that's the case. Maybe somebody's getting rich. I don't know, but I know master insurance policies are expensive. And the cool thing about Ahakea is you don't have that. So that's at least one reason why we could suspect that maintenance fees will actually hold lower for the next decade plus than they will in these communities, making it another attractive reason to consider Ahakea for what it is if it's something you might be interested in. Now I'm going to acknowledge in these communities, you have an actual garage. Here you have an uncovered carport. There are some differences. This is newer. These have some other amenities. We're just looking at it pragmatically. Ahakea is what it is. If it's for you, great. You go to coreteamhawaii.com and you go to the bottom and you contact us. If it's not, you either don't, maybe even leave negative comments. But we just wanted to look at it pragmatically, redo this video, and we hope you enjoyed it. And tell us if you like, appreciate, dislike, respect, don't respect this honest, informative, hopefully mostly objective view on this kind of real estate and others on this channel. You know, I'll tell you, Aiden and I were talking about this yesterday. If you have the analytical mind who enjoys these kinds of spreadsheets, there's not a better duo than when it's Aiden and I together. It's almost too much. We can get in the weeds, but that's fun, right? A question that you and I may ask ourselves or a client may ask us is, okay, but do you think this will appreciate at the same rate as single family or as townhome? Or will it mirror either? Because it's just a unique thing. Townhomes, there's precedent for this. There's precedent for this. There's a thing or two that Gentry did 20 years ago that's somewhat similar to Ahakea. And we could look it back on how those perform, but it's really its own thing. And so while we don't know, my best guess is they're only building 73 or something. So that's great. There aren't a ton. They're not saturating ever with these. But my suspicion is that it'll slightly underperform single family and appreciation. Standalone single family. True, like not 12 foot wide single family, like a big normal single family. I think the percentage over the next decade would slightly underperform that. But I think it'll be as good or better than townhomes. That's just my hunch. That is exactly where I'm at.