As with any investment decision, it's all about timing. Now is a good time to sell, since demand still appears to exceed the existing inventory, here and on the mainland. Prices have held or continued to increase in the last year, depending on the type and location of property you own, and projections for continued market strength in the next 1-2 years.
If you are thinking about whether this is a good time to do a 1031 exchange, here are some considerations:
Please let us know if we can help you or anyone you know with your decision regarding a potential 1031 exchange and the logistics of selling your relinquished property and finding the replacement property within the required timelines to meet IRS requirements. We can assist with transactions anywhere through our network of agents on the mainland.
**This in not tax advice - please consult with your tax professional.
Published in Neighbors of West Maui magazine - December 2018
By Barb S. Potts, R(B) & L. Lee Potts, R(B)