McCaffery Consulting has completed reserve studies throughout Hawaii for various associations of apartment owners (AOAO) and other community properties. We are available to conduct a reserve study for your common interest development (CID) in Hawaii at a cost below the competition.
The main areas we serve in Hawaii are: Honolulu, Waikiki, Kona, Oahu, Maui, and Kauai. Regardless of where you need a reserve study completed in Hawaii, McCaffery Consulting can accommodate.
Hawaii Revised Statutes require that associations prepare and adopt a budget every year that includes the current estimated replacement reserves the association will require to maintain the property based on a reserve study.
In addition, the association must assess the owners to either fund a minimum of fifty percent of the estimated replacement reserves or fund one hundred per cent of the estimated replacement reserves when using a cash flow plan.
Some associations in Hawaii have relied on their management or board of directors to perform their reserve study. Associations should really think twice before doing this. Reserve studies should be performed by qualified independent professionals.