Very little land remains that can still be developed. Most condos in Waikiki command premium prices per sq ft and, as a general rule of thumb, the better the ocean view the higher the price. Most condos in Waikiki were built during the 1970’s construction boom with only a few built since 2005, including Lanikea At Waikiki, Loft at Waikiki, Trump Tower Waikiki, The Watermark, Allure Waikiki, Cove Waikiki and The Ritz-Carlton Waikiki (1st tower completed early 2016 and 2nd expected summer 2018). All other beachfront properties are almost exclusively major hotels. In fact, there is only one – the Waikiki Shore, which is also zoned for hotel use. Condos directly on the beach in Waikiki are very rare.
Several Waikiki condos offer spectacular ocean views and, best of all, every condominium is within 0.5 miles to the beach. Please review our guide to short-term vacation rental condos in Waikiki, which outlines condos that allow short-term rentals, the restrictions, property tax matters & more. Some owners want the flexibility to stay in their unit while vacationing in Hawaii and otherwise rent out as a short term rental (just like a hotel), maximizing potential rental income. Reviewing all Honolulu real estate - excluding Waikiki - about 4.5% of properties are leasehold and on Oahu, excluding Honolulu city, just about 3% of properties are leasehold. On rare occasions, the association of a condo may have acquired an interest in the land, in which case it isn't straight forward what will happen upon expiry of the lease - as if the case with Discovery Bay in Waikiki.Ībout 25% of the condos in Waikiki are leasehold. Leasehold means you have the right to use - and even sell - the property, but you do not own the underlying land and upon expiration of the lease the property typically reverts back to the landowner. Waikiki condos for sale range in price from about $150K for a 200 sf studio to more than $20M for the most stunning penthouse at the Ritz-Carlton Waikiki - that is fee simple condos.įee Simple means you own the property outright (the most common form of ownership). The neighborhood is mostly surrounded by water, with the ocean to the south and the man-made Ala Wai canal to the north.
Waikiki is almost exclusively a dense high-rise neighborhood - a mini Manhattan - with many hotels, about 130 residential condos and just a few (old) single-family homes. Waikiki is bordered by Kapiolani Park and Diamond Head to the south-east and Ala Moana to the west, making for the ideal central location. The neighborhood lies along a 1.5 mile stretch of world class beach on the sunny southern shore of Oahu with some of the best and most consistent weather on the planet.
Waikiki is located in Hawaii’s tourist mecca, easily its most popular resort district.