The Key To Passing The Hawaii Real Estate Exam Is Understanding The Topic Areas


Hawaii Exam Topics Pie Chart


Tuesday's Key Points
Key Point's are important bullet points that relate to Hawaii state exam topic areas.

Ascertaining And Disclosing Material Facts

The Hawaii Department of Taxation is responsible for administering and enforcing the General Excise Tax.

Types Of Ownership

Tenancy in Common is a form of vesting title in undivided fractional interests.

Property Management

Tenants have one year from the date their tenancy was terminated to attempt to recover their security deposits that werent returned by the landlord.

Land Utilization

The Hawaii State Planning Act is also known as the Land Use Law.

Title And Conveyances

Estate for Years is a leasehold estate for a fixed period of time, after which the lease expires automatically without notice. No notice is needed to terminate as its established at the beginning of the lease.

Contracts

The Statute of Limitations is 2 years for action for libel, slander, forfeitures, or damages to persons and properties.

Financing

There are usually two open houses scheduled, usually on Saturdays and Sundays in a non-judical foreclosure.

Escrow Process And Closing Statements

Escrow is responsible for receiving & disbursing funds, preparing, executing & recording documents, facilitating communication and maintaining records.

Professional Practices And Conduct

A person whose license has been revoked must wait at least 2 years from the date of revocation before they can apply for reinstatement.

Tuesday's Questions



Agent Danny is the listing agent and is holding an open house. While touring the open house buyer Ben decides the home is perfect and wants Danny to write up an offer on the spot for him. Danny knows this will be a dual agency situation. How should he handle this.

A.) As long as he verbally states to Ben that he is the sellers agent he can represent both parties
B.) Danny would need to obtain written consent from both buyer and seller before they enter into a written sales contract
C.) Danny would only need to get express approval from the buyer to enter into the dual agency
D.) If the buyer insists on having Danny write up the offer, no further disclosure is needed in this situation

Topic:




Agent Danny is the listing agent and is holding an open house. While touring the open house buyer Ben decides the home is perfect and wants Danny to write up an offer on the spot for him. Danny knows this will be a dual agency situation. How should he handle this.


Correct Answer:
Danny would need to obtain written consent from both buyer and seller before they enter into a written sales contract


Remember:
For a property dual agency, Hawaii requires oral and written disclosure together with written consent from all parties to the transaction before entering into a written sales contract.



Next Question →

What type of document is required to create a condominium project in Hawaii

A.) A unit owner agreement
B.) A sales contract
C.) A declaration filed with the Bureau of Conveyances
D.) A property deed

Topic:


What type of document is required to create a condominium project in Hawaii


Correct Answer:
A declaration filed with the Bureau of Conveyances


Remember:
A condominium project in Hawaii is created by filing a declaration with the Bureau of Conveyances.



Next Question →

What is the GET tax rate on short term rentals under 30 days

A.) 1.29%
B.) 4.5%
C.) 7.25%
D.) 10.25%

Topic:


What is the GET tax rate on short term rentals under 30 days


Correct Answer:
10.25%


Remember:
Hawaii General Excise Tax (GET) of 4.50 % is due on all long term rental of over 30 days. GET and Transient Accommodation Tax (TAT) of 10.25% is due on all short term rentals of under 30 days.



Next Question →

Great Job!!!

We Strongly Believe That Passing The Hawaii State Exam Involves Two Key Areas:
· Understanding The Topics On The State Exam
· Recognizing These Topics In The Questions

Our real estate exam system will reinforce topics by utilizing questions specific to the Hawaii real estate exam.

Crash Courses: Designed to help you understand the topics on the state exam.

Practice Exams: Reinforce topics and make it easier to recognize them in questions.

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