With a passion for property management and an eye for lucrative investment opportunities, Duke Kimhan is a prominent figure in property management, specifically in the idyllic Hawaiian paradise. As the owner of Hi Pacific Property Management, a highly regarded full-service management company in Honolulu, Duke and his team are dedicated to providing exceptional service to clients and residents. 

With a wealth of experience under his belt, Duke’s journey into the world of Real Estate began with the purchase and sale of his own properties, before transitioning into a role as a property broker at Coldwell Banker in Florida, Realty Experts in Hawaii, and eventually founding his own company – Condo.Com in Hawaii.

But Duke’s real passion lies in property management, and since founding HiPacific Property Management in 2013, he has managed over 1,000 properties across the island. With a deep understanding of the local rental market and a commitment to fast and effective vacancy filling, Duke and his team are always ready to help property owners and residents achieve their goals.

Driven by a thirst for knowledge and a commitment to staying at the forefront of his field, Duke has earned a slew of prestigious designations, including Accredited Buyer Representative (ABR), Certified Residential Specialist (CRS), Certified Real Estate Broker (CRB), Graduate REALTOR® Institute (GRI), Senior Real Estate Specialist (SRES), Certified Distressed Property Expert (CDPE), and Broker Price Opinion (BPO).

But for Duke, it’s not just about the accolades – it’s about providing quality services and building lasting relationships with clients and residents. At HiPacific Property Management, Duke and his team work tirelessly to ensure that every property under their care is maintained to the highest standards, and that every client and resident receives the attention and support they deserve.

From Rental Homes to Real Estate Brokerage

Duke embarked on his real estate journey by expanding his investment portfolio with 3 rentals here in Honolulu and 2 homes in Las Vegas. After spending 25 years in the restaurant management industry, he too craved a career change. He decided to pursue real estate and obtained his license after completing the necessary classes back in 2001. Following a personal setback in the form of a divorce and Hurricane Katrina’s destructive impact on Florida, he relocated back to his hometown of Honolulu in 2006.

The Firm 

Hawaii Pacific Property Management is a company that offers complete property management services to clients on the island of Oahu, which includes Ewa Beach, Kapolei, and Honolulu. They currently manage over a thousand properties and serve property owners throughout the region.

The team at Hawaii Pacific Property Management understands the significance of delivering top-notch services and collaborates with property owners and residents to meet their objectives. Moreover, they cater to military personnel and foreign visitors seeking to rent on Oahu.

Additionally, Pacific Property Management provides three written guarantees:

• Communication Guarantee – We guarantee to answer our phones at all times.
• Rent Guarantee – We commit to a specific minimum rental amount in writing, and if we are unable to secure tenants at or above this amount, we will pay the difference to the property owner.
• Eviction Guarantee – If we have to initiate eviction proceedings on tenants approved by us, we will cover the cost of eviction.

Since their establishment in 2013, Hawaii Pacific Property Management has gained extensive experience in managing properties in Hawaii. They have an in-depth understanding of the local rental market and guarantee that any rental vacancies will be filled within a short time. Allow them to handle the intricacies of your rental property or assist you in finding the perfect rental space that matches your budget and objectives. Their property managers and real estate professionals offer the service, information, and resources required to prevent any complications when renting a property or planning to rent out an investment property.

Challenges in Building a Successful Real Estate Brokerage Firm

Duke discovers that staffing the property management department of a real estate brokerage firm presents the most significant hurdle. This is due to the fact that grasping the worth of long-term rentals requires sales experience, making it a challenging task.

At the company, Duke, the broker, receives all real estate laws and announcements at the brokerage. Additionally, the firm holds a staff meeting once every 90 days to discuss upcoming or pending issues.

Traits for Success in Real Estate

Duke also recognizes that an understanding of the rental market is a valuable asset for a real estate agent, as it enables them to provide valuable insights and guidance to clients looking for long-term rentals. Lastly, Duke emphasizes the importance of having a great set of ethics, as it is essential for building trust and maintaining positive relationships with clients. Overall, Duke believes that possessing these key qualities can help real estate agents excel in their careers and achieve long-term success in the industry.

Duke places great importance on having clear goals and a strong sense of faith in one’s path and leadership to succeed in the real estate industry. He believes that patience in the market is also crucial, as it takes time to build a successful career in this field.

Moreover, Duke emphasizes the ability to discern when someone is not telling the truth as a key quality for success in the industry. As real estate transactions involve significant financial investments, it is important to be able to identify any dishonesty or misinformation that could potentially harm a client’s interests.

Utilizing Client Feedback for Continuous Improvement

Duke believes that ensuring quality assurance in real estate is a relatively straightforward process. If there is any issue with the services provided, both the property owners and tenants will bring it to the attention of the management team. Additionally, Duke employs a team of virtual assistants who conduct regular surveys to evaluate the company’s performance. Every week, five tenants and five property owners are contacted from different property managers, and they are asked five questions about their experience with the company. They are then asked to rate the company on a scale of 1 to 5 based on its performance. This feedback is used to improve the services provided and ensure that the company is meeting the needs of its clients.

Adapting to Change

There have been significant changes in the real estate industry, particularly on the sales side. The development of the 1% commission model is making it increasingly challenging to convince sellers to pay a 6 or 7% commission for sales. Technological advancements have played a significant role in this shift, with the quality of pictures and videos becoming increasingly impressive in today’s marketplace. As a result, real estate agents must adapt and find new ways to provide value to their clients to remain competitive in the industry.

Hawaii Pacific Property Management is currently in an advantageous position, with over 1100 rentals under its management. This allows the company to be selective about the clients they work with. The company’s long-term goal is to maintain its current trajectory, keep its property managers satisfied and well-supported, and expand its portfolio to 2000 rentals in the near future. The company is content with its current standing in the market and hopes to continue providing high-quality services to its clients.

Leading with Purpose

As a Principal Broker, Duke finds motivation naturally in helping people with their real estate needs. This desire to assist others has been present since day one, and Duke is proud to see how his property managers have grown and developed over the past 2-5 years. These individuals have become mentors and leaders within the company and bring new ideas and suggestions to Duke’s attention as the company continues to grow. Their goal is for the company to become a leader in the property management industry in Honolulu, and Duke is thrilled to see his team working towards this common objective.

Advice from Personal Experiences

Duke advises that anyone who is new to the real estate market should seek out a mentor to help guide them through the initial challenges they will face. Starting as a realtor can be difficult, with many expenses to cover, and it’s essential to make at least one or two sales in the first year to stay afloat financially. On the property management side, it’s crucial to follow someone who is experienced in the field to gain an understanding of what it entails. It’s also important to secure a commitment from a reputable broker that they will provide rental properties to manage, as this is necessary to generate revenue. Without a steady flow of properties to manage, one may struggle to survive in the property management industry.

Website: https://www.hipacificpm.com/