13 years
First Find someplace you like, Look into the rules and regulations, cost of rent, Electric and water, cable. location, taxes I'd also look to see how much competition is in the area. Having alook at tourist numbers would be a help- one by letting you know what size the hostel should be (bed #s)
Look into the cost of 1) refurbishing the place, 2) cost of needed things such as Bunks , Mattresses, Linen, Decorations, towels, washing machine, Kitchen supplies, Computers (I'd go with laptops) lockers,ETC... Add costing for staff.
If the numbers all look right then proceed. remember you'll be on call 24hrs..
If your total new to hostels I'd suggest starting small. Get some experience behind you and then choose to get bigger or not.
I'd give Hawaii a miss. with world economy the way it is occupancy at most hostels are down compared to 2 yrs ago. So you'd have to also think about how many people will travel in the coming years, Competition from local Hotels as with fewer travelers they tend to bring their prices down.
As in all things Location location location.
there's a few thing to think about....
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