RESERVE STUDIES
Association of Apartment Owners
Each Association of Apartment Owners (AOAO) is required to complete an annual reserve study, which is a physical and financial overview of short- and long-term goals and requirements to maintain and improve a residential, mixed-use or commercial building. Homeowners’ associations (HOAs) are also recommended to complete a reserve study.
Often these important planning tools are incomplete, inaccurate and outdated. This can result in costly loans and assessments for repairs, maintenance and capital improvement projects. A complete reserve study will provide assurance that your community is properly prepared to handle expenditures without serious financial burden on owners.
Benefits of a Vertical Hawaii reserve study:
Higher real estate values and sales as prospective buyers shop with confidence when reviewing long-term planning and financial management for your AOAO.
Hawaii-based expertise that is tailored to your property. This includes tapping into our extensive network and long-term relationships with reputable Hawaii contractors, suppliers and service providers to provide estimations you can trust.
One size does not fit all. Avoid outdated and inaccurate cookie-cutter plans that require standardized increases to your annual reserve contribution. Vertical Hawaii allows you to plan effectively with information that is most relevant to your association.
We work closely with your board to implement a funding plan that meets your association needs in coordination with State of Hawaii requirements and regulations.
Our Community Associations Institute (CAI) Reserve Specialist® ensures the highest level of experience and training available. We also abide by the CAI Reserve Specialist® code of ethics.
Levels of service guidelines, as established by the Community Associations Institute Reserve Specialist® designation National Reserve Study Standards:
Levels of Service
This reserve study starts from scratch and should be completed every 4-5 years. Any available documents will be reviewed (such as blueprints, past contracts/invoicing and governing documents), and a thorough onsite visit will be conducted to compile a component list. A useful and remaining life will be given to every component based on industry standards, and a replacement/repair cost will be estimated. We will meet with the board to review the recommended reserve study, funding plans and priorities for capital improvements.
The following five reserve study tasks are performed:
- Component inventory
- Condition assessment (based upon on-site visual observations)
- Life and valuation estimates
- Fund status
- Funding plan
This is an update to the full reserve study that should be conducted every 2-3 years. It allows the inspector to better understand the condition of components already included in the reserve study. We will conduct an on-site visit and meet with the board to review recommendations, funding plans and priorities for capital improvements.
The following five reserve study tasks are performed:
- Component inventory (verification only, not quantification)
- Condition assessment (based upon on-site visual observations)
- Life and valuation estimates
- Fund status
- Funding plan
This is a simple update to the existing reserve study, often conducted annually. Completed projects, actual cost, and useful/remaining life of the components will be updated.
The following three reserve study tasks are performed:
- Life and valuation estimates
- Fund status
- Funding plan
Vertical Hawaii is located in Honolulu, Hawaii, on the Island of Oahu. Our services are available for all types of residential properties throughout the Hawaiian Islands, from large condominium buildings and homeowners’ association communities to single-family residences.
Contact Vertical Hawaii President Jonathan Billings at
808-426-6412 or