2017 Accounts Receivable
Total $2,363.14 as of October 16th, 2017. This entire amount is owed by the owners of 45 Hoe St (Bruce & Susan Boucher, Lot 35) who have refused since October 2015 to pay a fine and reimburse the HOA for landscaping, legal, & collection costs associated with their Lot 35 maintenance violation. Late fees & interest will continue to accrue until they pay their debt to the Association. All 91 other owners are paid in full... mahalo!
Please note that we do not persecute owners who are in financial difficulty. All we ask is that you please let us know if your payment will be late, and why.
Of course, when we have owners who refuse to pay any amounts due the Association, we have no recourse but to take legal action, and we may enlist outside help from an attorney-run company, Association Dues Assurance Corporation (ADAC), which specializes in collecting Association debts and works on a contingency basis. If the house is rented, the Board may effect a rent intercept on the tenant under HRS 421J-10.6. Such actions are very time-consuming and costly for the volunteers who run Kuau Bayview HOA. It is a shame that one or two irresponsible people can necessitate raising the annual dues for everyone else just because they refuse to pay their fair share or waste the Board's time with vexatious litigation. This is what happened in 2017. Please note that landlords are required to inform their tenants of the DCCRs and other laws to which they as tenants are also subject.
Interest and Late Charges
- All sums not paid when due from an Owner shall bear interest from the due date until paid in full at the rate of one and one half percent (1.5%) per month, or at such other interest rate as may be set from time to time by the Board. [ DCCR 8(e) ]
- In addition, each Owner shall be subject to a one-time late charge of eight percent (8%) of the unpaid amount if not paid within fifteen (15) days of its due date, or such other late charge as may be set from time to time by the Board. [ DCCR 8(e) ]
- In addition, a recurring late fee of $15 per month will apply to any overdue amount owed the Association, or such other late fee as may be set from time to time by the Board. [ DCCR 8(e) ]
- Any time an owner's refusal to fulfill his/her responsibilities to the HOA requires our composing, approving, and mailing a Demand Letter, there will be a charge of $50 to cover time, printing costs, material costs, and postal costs. This is less than half what owners were charged under Valley Isle Management and 1/10th what we were quoted by an attorney in Feb 2016.
There are no Accounts Payable.