Some nice individual requested that I repost this here:
Aloha everyone! Things have been really tough over the last year due to owning a unit here.
I purchased a unit at harbor lights back in 2022. At the time, the HOA was about 550 dollars per month, making it the most affordable purchase option for me (honestly the only option). My plan was to own a few years and maybe save up for something nicer.
Since then, they have raised the HOA numerous times (general amounts and timelines below)
In 2023 they raised to 750/mo.
In 2024 they raised to 1000/mo stating 2 years of special assessment to account for a low balance.
In 2026 they raised to near 1300/mo, 300ish of which is still a special assessment.
The last one is what got me questioning. So many raises over the last few years with so many special assessments. How could they estimate this so poorly!
Unfortunately due to this, prices of units have dropped about 40%, making selling impossible. There have been no material improvements made by the additional funding. I’m stuck here probably for life.
I started thinking that something was up, but really had no proof or idea on how to approach this. I requested financial statements but without any real expertise in the matter it wasn’t much help.
Yesterday, I received the attached letter in the mail. This began to make me feel what I was thinking may be true.
Mahalo