Condo Conversion

Peter Savio purchased his first property at the age of 15, with money he had earned from his newspaper route and odd jobs. Now, after 45 years in the real estate industry (37 years as a licensed Real Estate agent), he has become a specialist in Condominium Conversions. To date, Peter has converted more than 7,000 units. 

Condominium conversions are the fastest way to create affordable housing for Hawaii residents. The conversion of hotels and commercial buildings into condo units allows smaller investors to participate as well. Peter Savio is so committed to keeping these condos affordable that he accepts a lower profit to keep the costs down. He gives the homeowners associations the money to renovate and upgrade the building, and then the buyers upgrade their own unit if needed. 

Peter Savio has been refining his unique condo conversion process for the past 20 years. By working directly with the seller of the building, he is able to reduce the cost of the conversion and the risk. He passes the savings on the the buyer and the seller, and takes a smaller profit than most developers - making the unit more affordable and easier to sell. Over the last 20 years, Peter has given away more than $150 million in below-market prices to first-time buyers.

The advantages of using Peter Savio's condo conversion process extend beyond the reduced costs and risks. Having a developer do the conversion, rather than the sellers themselves, allows the sellers to do a tax-deferred exchange and/or claim the profits at the lower capital gain rate. Conversions are more complex than they sound, and most owners and/or brokers do not have the knowledge or expertise to successfully complete a condominium conversion - especially at the affordable rates that Peter Savio can produce.  

  • If you own an apartment building, warehouse complex, shopping center, office building, hotel, or multiple homes on one lot, please contact us. We can help you to realize the full potential of your real estate investment.
  • Gives you tax savings
  • Shields you from liability
  • Maximizes your returns
  • Moves your equity, creates more income and higher returns

Contact Peter Savio or call him at 808-951-8976

About the Savio Group

Peter B. Savio is President and Chief Executive Officer of the Savio Group of Companies. Peter has more than 40 years experience in real estate development and sales in the Hawaii market; he has been helping his clients realize the maximum return on their real estate investments since he founded Savio Realty Ltd. in 1980.

Savio Realty Ltd.

Focused in Residential and Commercial real estate across the islands and rental management on the Big Island. With 3 offices and 100+ agents, we can help you buy, sell, or invest in Hawaii real estate. Learn more »

Savio Asset Management LLC

Rentals and property management services. We have extensive experience in helping tenants and property owners with all of their rental needs - from managing properties to maintenance & repairs.  Learn more »

Savio Developments Ltd.

With more than 30 years of project brokerage in Hawaii, Savio Developments is continuously developing landmark properties throughout Hawaii. Learn more »