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Provider of AOAO & HOA audits in Hawaii
For years, condominium associations (AOAOs) and HOAs across the islands have trusted Felice Valmas, CPA & Co. with their audits and tax returns. Now the same peer-reviewed, forensic-trained team serves New York's co-ops, condos, and HOAs.
We are one of Hawaii's top providers of audit and tax services to associations of apartment owners and homeowners associations — from Waikiki high-rises to neighbor-island planned communities.
New York boards get the same specialist team — with engagements built around proprietary-lease and lender audit requirements, annual-meeting deadlines, and the tax rules unique to New York housing.
An unmodified audit opinion provides reasonable assurance your financial statements are fairly stated under U.S. GAAP — performed to the AICPA's Common Interest Realty Associations guide, with an internal-control review boards can act on.
Request an audit proposal →A review expresses limited assurance that no material modifications are needed for GAAP conformity — a right-sized option where your documents and lender permit it.
Ask if a review fits →Financial statements prepared from your records without an opinion — clean, professional, and delivered on your schedule.
Get a quote →Need specific questions answered — a manager transition, a special assessment, a suspicious account? We perform the exact procedures you engage us for and report the findings.
Scope an AUP →We compute Form 1120-H and Form 1120 both ways every year and file the option that's right for your association — plus co-op returns under IRC §216, and all Hawaii, New York State, and NYC filings.
Talk association tax →Felice is a forensic accountant whose work has focused on ferreting out fraud. Every engagement benefits from a fraud-aware eye — and when a board suspects something is wrong, we investigate discreetly and document thoroughly.
Confidential inquiry →Your engagement letter includes a fixed fee and your delivery date — in writing, before we start.
Your managing agent gets a single organized request through our secure portal — not fifty emails.
A CIRA-standard audit with the internal-control skepticism of a forensic accountant.
A readable draft plus a plain-English walkthrough with your board — HST or EST, your call.
Final report, management letter, and tax filings delivered before anyone has to ask.
"Other auditors check the boxes. A forensic accountant asks what the boxes are hiding."
Felice Valmas built one of Hawaii's top association audit practices on a simple promise: honest numbers, easy-to-read reports, and genuine cooperation among boards, managing agents, and owners. A forensic accountant featured in Hawaii Business Magazine, she brings a fraud-examiner's skepticism to every engagement — and now, with her New York CPA license, she brings the whole playbook to the East Coast.
When you engage Felice Valmas, CPA & Co., you work with the professionals responsible for your report — not a rotating cast of strangers.
You need an auditor who makes you look good: one point of contact, one clean document-request list, a secure portal, and status updates you never have to chase. We coordinate multiple buildings across your portfolio on one schedule — in Hawaii, New York, or both.
Discuss your portfolioYou're volunteers with day jobs. We explain the audit, the reserves, and the 1120-H vs. 1120 decision in plain English, flag issues before they become problems, and hand your owners a report they can trust — on time for the annual meeting.
Request a proposalWhat your board should expect from engagement letter to final report — our five-step process in one page.
Download the guide →Why the right answer can change every year, and how the wrong one exposes reserves to IRC §277 risk.
Read the article →What your governing documents require, what GAAP expects, and what your board actually needs to see monthly.
Read the article →Tell us about your building or portfolio and we'll come back with a clear scope, a fixed fee, and a delivery date built around your annual meeting.
808-536-8000 · felice@felicecpa.com