Kaimala Marina
  • Home
  • News
    • Community Updates
    • Improvements
    • Board Meetings >
      • Board Members
  • Resource Center
    • House Rules >
      • Quick Start Guide
      • House Rules
    • Forms
    • Association Terminology
    • FAQ
    • Safety
  • Contact Info
    • Contact Us
    • Incident Report
    • Repair Notice
    • Reservation for Rec. Room
    • Registration for New Residents
    • Registration for Watercraft/Bike
    • Community Location

Community updates

Property Owners Guide to Preventing and Responding to Water Damage Resulting From Plumbing Failures

6/30/2017

0 Comments

 
​Recent History:   Kaimala Marina has consistently maintained property insurance in accordance with applicable statutes while balancing responsibility and cost to the Association.  Individual owners were held responsible for the damages to their areas and the AOAO focused in insuring defined common areas and the parts of the property that were not the control of an individual homeowner.  This included holding individual homeowners responsible for damage to adjacent units when a failure in their unit caused the damage, the most common situations arising from issues with plumbing.  This practice by the AOAO minimized the claims made against the Association’s property insurance and helped to keep the premiums from escalating.  It is necessary to modify this practice in order to comply with Hawaii’s condominium statute [both HRS §514A and §514B].
What It Means:  The Hawaii statute, as well as our project documents require that the Association’s property insurance policy provide coverage for the buildings as originally built, inside and out, at today’s replacement cost.  Individual unit owners are responsible for insuring any upgrades made to the unit [e.g. hardwood floors, upgraded cabinets, appliances, etc.] as well as their own contents, loss of use or loss of rents, and personal liability.  Even though individual owners have some responsibilities, it is likely that the Association will have some financial responsibility particularly if the damage is extensive.  If the number of claims grow, so will the Association’s insurance premiums.  Given that, it is in everyone’s best interest to prevent as many of these catastrophic incidents as possible.
DOWNLOAD FULL LEAK GUIDE NOW
0 Comments

    Archives

    January 2023
    October 2022
    August 2022
    July 2022
    June 2022
    December 2021
    November 2021
    August 2021
    February 2021
    August 2020
    July 2020
    June 2020
    May 2020
    March 2020
    June 2019
    December 2018
    August 2018
    June 2017
    December 2016
    October 2016
    February 2016
    January 2016
    November 2015
    June 2015
    May 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    April 2014
    February 2014
    January 2014
    October 2013
    September 2013
    August 2013

    Categories

    All

    RSS Feed

Picture
Contact Info:
444 Lunalilo Home Rd. Honolulu, HI 96825
Phone: 808-395-6454 Fax: 808-396-3396
After Hours Security Phone: 808-347-8335
Copyright © Kaimala Marina 2022. All rights reserved!
  • Home
  • News
    • Community Updates
    • Improvements
    • Board Meetings >
      • Board Members
  • Resource Center
    • House Rules >
      • Quick Start Guide
      • House Rules
    • Forms
    • Association Terminology
    • FAQ
    • Safety
  • Contact Info
    • Contact Us
    • Incident Report
    • Repair Notice
    • Reservation for Rec. Room
    • Registration for New Residents
    • Registration for Watercraft/Bike
    • Community Location