Condominium residents wonder why their maintenance fees are high. I am no exception. Nearly every condo association is raising maintenance fees to keep up with inflation, so most of us can expect a sizable increase next year, mainly due to rising energy costs. An association’s largest cost components typically include electricity (number one by far), employee wages & benefits and insurance.
There are times when a condo association chooses to impose a special assessment rather than raise the monthly maintenance fee. As I write, owners at Hokua at 1288 Ala Moana and Nauru Tower are in the process of paying a special assessment. The condo association decides if the special assessment will be paid in a lump sum or spread over a period of months.
Perhaps you’ve been wondering how your building’s maintenance fees compare with similar buildings’ fees. Just as an example; if someone owned a 1000 sq. ft. apartment and their maintenance fee is $600 per month, their fee per square foot is $.60. It’s not possible to completely compare apples to apples because every building provides a different set of amenities, but below are the maintenance fee costs per square foot of living space for some buildings located in Kakaako and Downtown.
| Condominium | Fee / Sq. Ft. |
| Harbor Court | $.90** |
| Hawaiki Tower | $.48 |
| Hokua at 1288 Ala Moana | $.60 |
| Imperial Plaza | $*** |
| Ko’olani | $.60 |
| Moana Pacific | $.54 |
| Nauru Tower | $.65 |
| One Waterfront Towers | $.65 |
**Some listings indicate individual apartment electricity may be included in the Harbor Court maintenance fee. In most buildings, owners pay for their electricity usage in addition to the maintenance fee.
***Calculated different figures for various apartments ranging from $.65 to over $.85 per sq. ft.
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