In case you are not familiar with this real estate terminology, specially when you are buying property in Hawaii, following are the main characteristics, as follows:
FEE SIMPLE
Own land
Own property, or unit in a specific building
Own equity on both land and the property unit is located
Land may be inherited
Another legal term jargon "fee simple defeasible"
LEASEHOLD
Do not own land, you lease it for "x" numbers of years
Renegotiation of the lease could have an extension of the lease increase number of years
You pay a monthly "fee lease" to the owner of the land
You own the unit or property in a building
In a way you could be the "lessee" of the "lessor"
The fixtures you attach to the real estate may be removed at the expiration of the lease
Leasehod improvements cannot damage the property or conflict with the lease
Leasehold mortgage is a lien on the lessees interest in real estate
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