Short-Term Rental Financing in Wailuku, HI

The Wailuku ratio math on this product

Gross nightly revenue in Wailuku models to about $6,300/month across a full year. Lenders do not credit that dollar-for-dollar — a 28% haircut for vacancy, cleaning, platform fees and management leaves $4,536 of creditable income. Against a PITIA of $5,062, that is an estimated DSCR ratio of 0.90x. That lands just under 1.0. It does not kill the deal in Wailuku: moving to a larger down payment ($255,000) usually closes the gap, and several shelves fund down to 0.75x with a rate add-on.

Underwriting notes specific to STR files: plan on 25% down as the floor, six months of PITIA in reserves, and either twelve months of Airbnb/VRBO earnings statements on the subject property or a third-party market revenue study for a property with no operating history. Short-term rental activity is moderate here and local rules vary by zoning district. Verify the permit status of the exact address before you go hard on earnest money — an unpermitted STR is an unfinanceable STR on this product.