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Buyers Blog Update 12/01/2021

Association Documents


For this article, both condominiums and townhouses will be referred to as condos.  Oahu has more condos than single-family homes due to the island’s finite land supply.  In some neighborhoods, developers decided to create a neighborhood under a condominium regime to avoid some of the City and County of Honolulu’s red tape involved with sub-dividing land.  Condos are generally more affordable than single-family homes and make up a bulk of entry level housing.  The Oahu median price for a single-family home in October 2021 was $1,000,000 and for a condo was $500,000.  Condos make up the bulk of entry level homebuying opportunities for first-time home buyers as a result.


Condos add a level of complexity to owning a home that first-time buyers may not appreciate and adds an additional step to a buyer’s due diligence.  Oahu’s standard purchase contract dedicates a page to the documentation disclosure and review requirements before a buyer can successfully complete a condo sale.  The list of documents includes:


  • The last three approved Board of Director meeting minutes
  • Articles of Incorporation and Amendments
  • Bylaws and Amendments
  • Copies of all pending litigation complaints filed against the association
  • Covenants, Conditions, and Restrictions (CC&Rs)
  • Current association financial statements
  • Current and/or proposed budgets
  • Current House Rules
  • Declaration and Amendments
  • Design standards and guidelines
  • Insurance summary
  • Lender’s disclosures
  • Last annual meeting minutes
  • Planned community documents
  • Project information form (RR105c)
  • Reserve study or summary
  • Subdivision and/or title documents


Companies exist simply to collect and distribute the vast documentation describing a condo association’s operation and efficiency.  Buyers should carefully review the documents before committing to a condo purchase because the association fees paid are only the financial burden that a buyer commits to when closing a sale.  There is much more to consider than just the monthly cost of joining a condo association and a first-time buyer should carefully read the documents to understand the implications.

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