With more Hawaii Island homeowners and builders adding environmentally friendly features to their homes, appraisers here may not always know the best way to value those improvements.
The Association of Big Island Appraisers is sponsoring a continuing education course on “Unlocking Green Value” for appraisers Saturday at the Natural Energy Laboratory of Hawaii Authority Gateway Center.
Rik Taylor, co-moderator for the organization, said photovoltaic installations are one popular improvement that might give appraisers pause when it’s time to calculate value.
“Leasing an array for their rooftop is not the same as owning,” Taylor said. “Leasing may or may not add to the value.”
It depends on the contract and length of the lease.
The “green” improvements also require appraisers to calculate the value today for improvements that save the homeowner money in the long run, he added. Other possible improvements include heat-reflective paints and certain roof surfaces.
Taylor recently took a similar class from the same presenters — real estate agent Fiona Douglas-Hamilton and certified green residential appraiser Robbi Currey — and thought the class would be helpful for colleagues on Hawaii Island.
Objectives of the course include identifying the difference between green and sustainable development, understanding the six core areas of green building programs and the six primary benefits to green building, as well as how to visually identify the major features of green building and identify the dominant residential green certifications programs in their regions. The class will also inform appraisers about trends and current market conditions, discuss why green should be considered in the appraisal process, identify green features and materials and their prospective market value and develop tools to help with appraisal assignments.
The class runs from 8 a.m. to 4 p.m. and gives appraisers seven hours of continuing education credit. The cost is $180. Register online at seecsolutions.com/classes/registration-2.