Two advantages of condominium ownership are separate mortgages and property taxes for each apartment owner.
Note that creating a CPR does not increase the number of apartments permitted on the property. Neither does the CPR determine or change the zoning.
What Property can be “CPR’ed”?
Submission of real property in the State of Hawaii to CPR must be by the owners, including lessees. The project must contain two or more apartments as defined by statute. The number and type of apartments must meet zoning requirements. Therefore, if the project will contain dwelling units, the number of dwelling units allowable is determined by the zoning district. Neither the Real Estate Commission (“Commission”) nor the Counties approve or disapprove what property can be CPR’ed.