Owning a residential property is an essential element of stability and financial security. It provides a sense of permanence, belonging, and control over one’s living space. Homeownership enables people to customize their living space, establish a safe haven that suits their preferences, and put down roots in a community.
However, the ownership of a dream home comes with an array of hidden responsibilities. It entails a spectrum of duties—from routine cleaning to HVAC upkeep, plumbing and electrical care, roof maintenance, exterior enhancements, pest control, and structural inspections. These efforts are vital for safeguarding the property’s value, ensuring safety, and enhancing overall comfort.
Renowned for his passion for property management and astute investment acumen, Duke Kimhan stands out as a notable figure in real estate within the enchanting landscape of Hawaii’s tranquil paradise. At the helm of Hi Pacific Property Management, a reputable full-service management firm located in Honolulu, Duke and his team are committed to delivering unparalleled property management services.
With a staggering 250,000 rentals on the island of Hawaii, Duke and his team maintain a keen watch over the finest listings, presenting a diverse range of unmatched services, primarily focused on residential rentals. The company has served thousands of individuals and families on the island, with each property manager surpassing expectations to assist clients in discovering the perfect properties tailored to their requirements.
In the Beginning
Having spent 25 years in restaurant management, Duke felt the urge for a career shift. Opting for real estate, he acquired his license after completing requisite classes in 2001. However, facing personal challenges including divorce and the aftermath of Hurricane Katrina in Florida, Duke returned to his hometown of Honolulu in 2006.
Duke embarked on his real estate journey by initially buying and selling properties himself. He then transitioned into roles as a property broker at Coldwell Banker in Florida, and Realty Experts in Hawaii, and ultimately ventured into entrepreneurship by founding his own company, Condo.Com, in Hawaii.
Eventually, Duke made the strategic decision to transition away from real estate sales, directing his full attention and expertise toward the field of property management. “Property management and real estate sales go hand in hand, most realtors doing sales don’t venture into the property management side unless they’ve had some experience going property management,” he explains.
“This field is not a take it or leave it kind of thing. When you start down this road there are lots of phone calls with questions on rent payment systems, security deposit questions, and lots of plumbing issue questions that start the minute you take on a tenant. I decided 15 years ago to do this exclusively and stop doing the sales so I could be one of the few who only did property management. That way I would never get bunched into the rest of the realtors trying to do this on the side of the sales side.”
Separating themselves from the rest of the pack, Duke and his team tirelessly dedicate themselves to maintaining every property under their care to the highest standards. Their commitment extends beyond basic upkeep. The Hi Pacific team strives to ensure that each client and resident receives personalized attention and unwavering support, exemplifying their dedication to excellence in service.
Tailor-made Property Management Services
At Hawaii Pacific Property Management, Duke and his team assist clients in achieving their goals by managing all intricacies of residential properties. They conduct thorough background and credit checks on prospective tenants to ensure alignment with property standards and compliance with established rules. Additionally, they commit to swiftly filling vacancies to mitigate any unexpected loss of income from investment properties. In the event of an issue arising within the property, the Hi Pacific team promptly addresses the situation and consistently maintains upkeep on all properties.
Since its inception in 2013, Hawaii Pacific Property Management has garnered significant expertise in property management throughout Hawaii. They also specialize in catering to military personnel and foreign visitors seeking to rent on Oahu.
“This field of property management has a ton of maintenance to do on owners’ homes daily,” shares Duke. “Within the 1st year, I established a maintenance department to field all the calls that would be open 7 days a week. Soon after topping 100 properties under [my] management, the phone rang constantly with tenants asking what to do with this leak, or that broker door.”
To remain personally involved in his investments, Duke conducts two scheduled walk-throughs of every property each year. If pets are permitted at a property, he increases the frequency to three times annually. Following each walk-through, Duke provides detailed updates, including photos, videos, and a concise checklist outlining the condition of both the interior and exterior. This ensures that clients stay informed about how things are progressing with their tenants.
What further sets this firm apart is the 3 guarantees Hi Pacific offers for every deal under their umbrella –
Communication Guarantee – A guarantee to answer our phones at all times.
Rent Guarantee – The commitment to a specific minimum rental amount in writing. If unable to secure tenants at or above this amount, Hi Pacific will pay the difference to the property owner.
Eviction Guarantee – The promise to initiate eviction proceedings on tenants if required, where Hi Pacific will cover the cost of eviction.
Awards and Accolades
Driven by an unyielding thirst for knowledge and a steadfast commitment to innovation in his field, Duke has amassed a collection of prestigious certifications. Among them are Accredited Buyer Representative (ABR), Certified Residential Specialist (CRS), Certified Real Estate Broker (CRB), Graduate REALTOR® Institute (GRI), Senior Real Estate Specialist (SRES), Certified Distressed Property Expert (CDPE), and Broker Price Opinion (BPO).
The award that Duke is most proud of is the individuals who have continued to work for him over the years. “I have seen them raise kids and buy homes and drive new cars. Year after year our company keeps growing and we have over 700 company reviews on Google, Yelp, and Facebook. All the accolades don’t compare to having internal success of your people,” he states.
"My staff sees and hears about new tech and they show me pictures or videos or online sales ads and tell me how that would make their jobs easier, and in today's market if it saves time then it saves money!"
Staying Ahead of the Curve
Duke emphasizes the significance of setting clear goals and possessing unwavering faith in one’s path and leadership to thrive in the real estate sector. He underscores the importance of patience in navigating the market, recognizing that building a prosperous career in this industry takes time. Furthermore, Duke acknowledges the significance of having a comprehensive understanding of the rental market as a crucial asset for real estate agents. This knowledge empowers them to offer invaluable insights and guidance to clients seeking long-term rentals.
Keeping up with advancing technologies, Duke and his team have come a long way in the tech space. With auto payment setups for rent collection and other payments, Duke has established an almost cashless system for the finance management of the various properties he manages. Additionally, platforms like Docusign have allowed Hi Pacific to automate contracts for the owners and tenants.
The incorporation of emerging technologies has allowed Duke to have a convenient database of pictures and videos of properties that he uses to showcase to prospective clients as well as keep a close check on property maintenance and upgradation.
“Tech is always at the forefront of business… My staff sees and hears about new tech and they show me pictures or videos or online sales ads and tell me how that would make their jobs easier, and in today’s market if it saves time then it saves money!”
Additionally, amid rising property and interest rates in the US currently, Duke strives to stand for his clients. Deciding to not increase his rates as the market becomes more expensive has enabled him to maintain close relations with his clients and garner several recommendations along the way.
Duke also has a team of virtual assistants tasked with regularly conducting surveys to assess the company’s performance. Each week, they contact five tenants and five property owners managed by different property managers, asking them five questions about their experiences with the company. This feedback is utilized to enhance the services offered and ensure that the company effectively meets the needs of its clients.
Words of Wisdom
Drawing from his own professional experiences, Duke recommends that newcomers to the real estate market seek guidance from a mentor to navigate the initial challenges they encounter. He feels that it is imperative to align with someone who possesses considerable experience in the property management field to gain a comprehensive understanding of its intricacies.
“My only advice is if you don’t love it, leave it. Simple right? I tell all my people if it’s not a “want to” you should never work because you “have to!” Otherwise, you will never outwork or outthink your competition. Anything you do today someone is trying to outwork you or outthink you,” concludes Duke Kimhan.
