What type of ownership structure allows for individual financing of each unit in Hawaii?

Condominium ownership is the correct answer because it allows each unit owner to have individual financing arrangements for their respective units. In a condominium, each owner holds a title to their individual unit while sharing ownership of common areas, like hallways or recreational facilities, with other owners in the building or complex. This unique structure provides flexibility for owners, as they can secure mortgages, set financing terms, or sell their units independently of one another.

In contrast, cooperative ownership involves purchasing shares in a corporation that owns the entire property rather than buying a specific unit. Financing for individual units in this structure is more complicated, as it typically relies on the corporation’s mortgage rather than each resident obtaining their own financing.

Time-sharing ownership generally pertains to vacation properties, where multiple owners have the right to use the property for a specific period each year, but it does not involve separate unit financing in the traditional sense.

Fractional ownership allows multiple buyers to purchase a fraction of a single property but is not structured to support individual financing for units; rather, it is more about shared ownership of a single entity.

Thus, condominium ownership is distinguished by the autonomy it grants individual owners regarding their financing, making it the correct choice in this context.