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Table of Contents Your Transaction Details:......................................................................................... 4 Important Contacts.................................................................................................. 5

About Title Insurance All About Title Insurance.......................................................................................... 6 21 Reasons for Title Insurance................................................................................ 8 Life of a Title Search................................................................................................. 9 ALTA Homeowner’s Policy Comparison................................................................ 10 The Preliminary Report.......................................................................................... 11 Statement of Information...................................................................................... 12 Title & Tenancy in the State of Hawaii ................................................................. 13 Tenancies Available in Hawaii................................................................................ 14 Leasehold vs. Fee Simple Explained...................................................................... 15

About Escrow Escrow FAQs .......................................................................................................... 16 About The Escrow Process .................................................................................... 17 Life of an Escrow.................................................................................................... 18 Opening Escrow..................................................................................................... 19 Your Signing Appointment .................................................................................... 20 Closing Costs and Who Pays What........................................................................ 21 Hawaii “Good Funds” Requirements..................................................................... 22 Recording Timeline................................................................................................ 23

Loans in Escrow About The Loan Process........................................................................................ 24 LOAN FAQs.............................................................................................................. 25 What is a “Payoff”?................................................................................................. 25 PMI: “Private Mortgage Insurance”....................................................................... 26

Other Parties, Taxes & Terms Other Parties to an Escrow Transaction................................................................ 27 Understanding Taxes in Escrow............................................................................. 28 HARPTA: Hawaii Real Property Tax Act.................................................................. 31 About FIRPTA.......................................................................................................... 31 What is a 1031 Exchange?...................................................................................... 33 Glossary of Terms................................................................................................... 34

- Guide for the State of Hawaii -

Hawaii Buyer & Seller Guide  
Hawaii Buyer & Seller Guide