Big Island Condo Owners Navigate Troubled Finances….An unexpected financial mess at the Elima Lani condo complex in Waikoloa Village leaves some property owners miffed and perplexed.
3 months ago
Big Island Condo Owners Navigate Troubled Finances
An unexpected financial mess at the Elima Lani condo complex in Waikoloa Village leaves some property owners miffed and perplexed.
Condo owners in a Big Island community are unexpectedly digging deeper into their wallets after being blindsided by a surprise budget hit. By Friday, owners of Elima Lani Condominiums at Waikoloa Village must pay a $1,000 “special assessment” on top of their regular $400 monthly fees to cover unpaid expenses.
Some condo owners are steamed about it, according to interviews and their social media posts. Others just feel bewildered.
According to a May 20 letter to homeowners from Hawaiiana Management Co., a one-time cash infusion is needed because several hundred thousand dollars in bills are past due.
The delinquent bills requiring “immediate attention” include $150,000 owed to Hawaii Water, $30,000 in legal fees, $29,000 in landscaping costs, and an unfinished painting project that needs $120,000 worth of remaining work.