Financing

[erdagte]

Okay, I''m buying a boat; actually, I like to think I''m buying my home since I intend to liveaboard when my job moves me to Hawaii next month.
I''ve set a budget and can afford the used one I''m eyeing. I''ll put 20% down and would like to finance the rest over 20 years. But a simple search on the internet yielded way too many finance companies!

Any recommendations?
Is the broker the best one to ask?

[Eva]

I have used Essex Credit the last two times I bought a boat. Financing boats is all they do, and it shows in the smoothness of the transaction and the knowledge of the people you deal with; they will handle the closing and Coast Guard documentation as well. A rate (last year) below 5% was also a good deal, especially when I''d budgeted (for the sake of doing pre-purchase math) for 7%.

[gunnyman]

Hi from what I have read on this and other boards in the past liveaboard space is at a premium if available at all in Hawaii. Might be worth looking into. Hope all goes your way.

[erdagte]

Thanks Eva. You are one of many that have recommended Essex. I''ll checking them out right away.

[Orion48]

aloha,
My husband and I live aboard at Ko''olina marina on Oahu. The harbour is about 40 minutes from honolulu. In the 70''s my husband lived aboard at alawai yacht harbour- After a stint on the mainland he came back in 91 and it has taken that long to get back living aboard (2003)- There is VERY limited liveaboard space-lots of waiting lists- mostly that is how boats are bought and sold- you sometimes get preference if you buy a boat already in the slip-moorage can be pricey - we pay over 800$ a month for a 48 ft sailboat- but the marina is wonderful and secure- both alawai and Keehi have long waiting lists and suffer from poor maintainance- I am trying not to be negative it''s fabulous living aboard here- but it''s not cheap. Regarding financing - we were limited because we were liveaboards- we found many lenders won''t do liveaboards- we ended up with "bank of the west"
good luck
a hui hou

[WHOOSH]

Orion, what''s the normal drill for cruising boats that arrive in Oahu and want to spend an extended period visiting, replenishing, repairing and such? Is there visitors dockage available these days (your comments would suggest there isn''t...) and, if not, what do you see those crews choosing to do?

BTW where is Ko''olina? We''ve spent time over on the windward side at Kaneohe (some great anchorages, one by the YC over there) but only landbound, so we''ve not had to wrestle with that issue...at least, not yet.

Jack

[Orion48]

aloha whoosh- I''ve read alot of your stuff and find it very informative-nice to meet you!First off there is limited transient moorage- timing is everything- if you are a member of a reciprocal yacht club you can get a temporary slip at several clubs (hawaii YC & Waikiki YC etc)- temporary is highly variable- I see people coming into our marina that call ahead and get space-and stay for a year or more
The haul outs now are a bit easier now that Marisco opened up (by Barbers pt)We hauled out last year for 2 days and it was between 200 & 300 $I can''t remember exactly -Most people are either lucky (timing) or call ahead and pay for a slip before they get here- The other islands are even more limiting with essentially no liveaboards and some anchorages-I hear rumours of people living on the hook on Kauai but I haven''t actually spoken to any-
I used to live in Kaneohe- I know the bay well- there are no slips for a boat our size (48'') but we can sail around and drop anchor- if you go to the "chinamans hat" side of the bay the coral growth is fabulous (I teach marine science!)
Ko''olina is a new marina (check it out online-just search using Ko''olina Marina-I can''t remember the actual web address)It is up past barbers pt and ewa beach- almost to Nanakuli on the leeward (sunny/dry)side.It is a resort complex great amenities but more expensive than either ala wai or Keehi-but then you don''t have to share a bathroom with drug addicts either!(No offence to any drug addicts out there)As a liveaboard it is worth it as it is our home and very secure.We have great sailing just outside the harbour and lots of great places where it takes less than an hour to get to super diving/snorkle/dolphin/whale-overnight fun spots, my favorite is Electric beach.
I have spent a long time just reading the message boards and feel I know a lot of you! Its funny I had far more time to read and respond before we moved aboard LOL

[erdagte]

Thanks Orion for the advice on limited space. Unfortunately, moving to HI is not my choice, but living aboard is. I''ve been to Ko''olina and you''re right: it is sweet, albeit pricey. I''m putting my name on several lists and will have to wait and see.
For visiting boater looking for moorings, there doesn''t seem to be any shortage. I''ve got marinas calling ME for those dollars.