- What do I actually own when purchasing at Ano Lani?
- How much time do I own in each year?
- Can I buy more than one fractional ownership interest?
- Can I buy one fractional ownership interest with someone else?
- Who will manage and maintain the property, and who will pay all the bills?
- May I rent out any of my designated weeks?
- What are the opportunities to exchange with private vacation homes in other locations? Also, can I exchange weeks with other Ano Lani owners?
- Who are the other fractional homeowners with whom I will share home ownership?
- How do I sell my fractional ownership interest should I choose or need to in the future?
- How much does a fractional home ownership interest cost?
- How much are the annual costs of fractional ownership?
- How are each owner's rights and interests protected?
- What happens if there is damage to the home?
- What about smoking and pets?
- Does this property qualify as a 1031 exchange property?
- How is this different from a timeshare?
What do I actually own when purchasing at Ano Lani?
Fractional real estate ownership (shared ownership) is very much like ownership of your principle home. As a fractional homeowner, you will enjoy the peace of mind that comes with having a deeded interest in your vacation home. In “legal-speak,” you have a fee-simple, undivided fractional interest as a tenant in common with each of the other fractional homeowners. Simply stated, owning a deeded interest in a private fractional home entitles you to all the benefits and rights that come with normal home ownership.
back to top How much time do I own in each year?
Due to Hawaii fractional laws, fractional homeowners will select a defined and fixed sixty-day time period (consecutive days).
back to top Can I buy more than one fractional ownership interest?
Yes, you can purchase more than one sixty-day fractional home ownership interest. Ask for details regarding discount for multiple interval ownership.
back to top Can I buy one fractional ownership interest with someone else?
Yes, you can purchase a single fractional home ownership interest with more than one party, thus further reducing both your up-front purchase cost and annual ownership costs. Although a single fractional interest cannot be legally divided into less than the defined sixty-day interval, multiple parties can share their sixty days together.
back to top Who will manage and maintain the property, and who will pay all the bills?
Island Fractional Homes, the developer of Ano Lani, has entered into an exclusive agreement with Regency Pacific Realty, one of Kauai's most trusted property management and luxury vacation rental companies to provide conscientious, professional management of Ano Lani. Their office is less than five minutes from Ano Lani.
back to top May I rent out any of my designated weeks?
Yes. One of the additional benefits of fractional home ownership at Ano Lani is the ability to vacation rent your unused weeks. You may place any unused portion of your sixty-day interval in a professionally managed luxury vacation rental program. Ano Lani's property management partner, Regency Pacific Realty, is one of the most popular and exclusive Kauai vacation home rental companies.
back to top What are the opportunities to exchange with private vacation homes in other locations? Also, can I exchange weeks with other Ano Lani owners?
The opportunity to vacation at private homes around the world – and some within a few hours' drive of your primary home – is one of the significant benefits of ownership at Ano Lani. In addition to the possibilities of exchanging with our other owners – a common occurrence – your fractional ownership interest includes an invitation to participate in one of the world's largest private home exchange networks, Luxury Fractional Exchanges. With over a thousand impressive properties in great locations, you will enjoy the simplicity and affordability of private home exchange.
back to top Who are the other fractional homeowners with whom I will share home ownership?
You will own your villa at Ano Lani with other like-minded people who recognize the value and benefits of fractional home ownership. In most cases, there will be just six owners per villa.
back to top How do I sell my fractional ownership interest should I choose or need to in the future?
Because you have an undivided, deeded interest in your property, you can sell your fractional ownership interest just as you would any other residential or vacation home. This includes selecting a qualified real estate agent, getting your property listed in the MLS, and employing any and all other avenues to assist you in selling your fractional ownership interest. We are also available to help you sell your fractional interest.
back to top How much does a fractional home ownership interest cost?
You will be surprised to learn how affordable it is for your family to own a one-sixth, deeded interest at Ano Lani. Our price per square foot is well below the national average for comparable properties in highly desirable resort destinations, like Princeville, Kauai. Please call today for pricing and availability.
back to top
How much are the annual costs of fractional ownership?
Our annual fractional home ownership costs are far lower than anything you will have seen for any comparable property in Hawaii, and include all the operating costs and owner services you would expect (property taxes, insurance, utilities, maintenance, cleaning, property management fees, reserve fund, etc.). There are NO hidden costs. We have developed an innovative approach to keeping annual fractional owners' costs much lower than you might expect for a luxury Kauai fractional home. Please call for details.
back to top How are each owner's rights and interests protected?
With the assistance of very experienced legal counsel, Island Fractional Homes, the developer of Ano Lani, has taken considerable care to protect each owner's rights, as well as the value of the property itself. A comprehensive set of governing documents has been developed, which each owner reviews while in escrow. This set of legal agreements is designed to provide unambiguous guidance for the operations of the fractional vacation home, and includes the Fractional Declaration, Fractional By-Laws, Fractional Owners Association documents, House Rules, Property Management Agreement, Annual Operating Budget, Declaration of Covenants, Conditions, and Restrictions (CC&Rs) for the association in which the property is located, all disclosures, and an array of additional documents for your review. In addition, full property and liability insurance is in force.
back to top What happens if there is damage to the home?
Ano Lani's property management partner will ensure that any damages are repaired in a prompt manner by qualified local professionals, to minimize interruption to the enjoyment or use of the property. Details regarding liability for damages are available for your review in the legal documents.
back to top What about smoking and pets?
The House Rules, as currently written, do not allow for either smoking or pets of any kind. All six fractional homeowners would need to agree to change these rules; otherwise, they will remain in force.
back to top Does this property qualify as a 1031 exchange property?
Depending on the nature of your ownership, you may be able to involve your purchase of this fractional property in a 1031 exchange. As the tax laws governing 1031 exchanges are both complex and strict, you are encouraged to discuss your specific situation and goals for ownership with your tax adviser.
back to top How is this different from a timeshare?
Luxury fractional real estate, such as Ano Lani, differs enormously from timeshares. Whereas timeshares offer benefits to those who are interested in vacationing one to two weeks a year and don't mind competing for space at their preferred destination, fractional home ownership offers some very important differences:
- A deeded interest in your private vacation home, with rights and benefits consistent with any other real estate purchase;
- Generally, three or more bedrooms and more square footage;
- A significantly higher level of luxury furnishings, services, and amenities;
- The security of knowing that you can return year after year to your own private residence, in Hawaii;
- A much greater chance of long-term appreciation in your real estate investment as compared to timeshares, which have historically lost value after the initial purchase;
- A greater number of weeks spent at your private vacation home
- Lower annual ownership costs
- And lastly, you have true pride of ownership.
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