Find Out How Penniless Canadians are Buying Maui Real Estate

No, this is not one of those “one weird trick” blog posts (and I’ll never know how to get rid of belly fat), but here’s the catch – technically all Canadians are penniless since the Canadian Government stopped minting pennies in 2012. But that hasn’t stopped our polite neighbours to the North from falling in love with and purchasing Maui condos, and Maui Real Estate in general.

I get to make fun of Canadians because I used to be one of them. Born to an American father and a Canadian mother, I was raised in Canada (where those two pennies could buy you one piece of bubble gum with an unfunny comic wrapped around it) – so if you mention Kraft Dinner, serviettes, or ask how much the Hydro is for a property, I won’t miss a beat.

American Translation:

• “Kraft Dinner” = Mac ’n Cheese
• “Serviette” = Napkin
• “Hydro” = Electric Bill

Canada Fun Facts

Canadians have long enjoyed boasting to Americans about which famous celebs are Canadian, but I prefer to dish out more esoteric trivia. Here are a few little known facts:

1. Toronto, Canada is farther SOUTH than Portland Oregon
2. The southern tip of Canada is below the California/Oregon border
3. The TD in TD Ameritrade stands for “Toronto Dominion” – and it’s a Canadian Bank (they put this in tiny print on their website)

If you’ve spent any time in Wailea or Kihei, in the winter, you’ll hear a lot of Canadian accents (not to be confused with the Minnesotans), and even the regional and entirely fattening Quebec dish “Poutine” made its way to Kahului foodies courtesy of Maui Fresh Streatery food truck. (The Poutine was a limited time specialty, but this gourmet food truck always has something crazy delicious.)

Braised Short Ribs Poutine Maui Style

And yes, there are even some very old, dead, and penniless Canadians laid to rest on some lovely real estate in Wailuku as you can see in these two pics:

An Old Dead Penniless Canadian in Wailuku

From P.E.I to Wailuku circa 1892!

Lending Guidelines for Canadian Buyers

But if you’re wanting some information on what it takes to buy Real Estate on Maui as a Canadian Citizen, here’s some info that will be good to know as you head out determined to find a sunny place to hibernate during the dreaded Canadian winters. (What, you actually want some useful information from this blog post?)

• Canadian Credit Scores Okay
• Typically 30% Down Payment Required
• Some lenders require a local Power of Attorney
• French Documents must be translated by approved translators. (We can help with that. Nous pouvons vous aider avec ça!)
• Vacant Land/Construction Loans Available with minimum 35% down
• Different lenders have different requirements – Having a competent lender is key

One of my favorite lenders is Brady Spangler of Axia Home Loans in Pa’ia. He doesn’t speak Canadian per se, but I can translate. (If you’re from St. John’s Newfoundland, please speak slowly as my Newfie is a little rusty).

Find the Perfect Maui Property

Regardless of which side of the border you’re from, I’d be happy to help you find the perfect Maui property. Call, text, or email me and we can start looking.

Liam  S. Ball, R(S)
808.280.7809
liam@hawaiilife.com