Waikiki Real Estate
Waikiki, known as the world’s most famous beach and the birthplace of surfing, is not just a tourist destination. While it is also the most popular tourist destination in Hawaii, thousands of Oahu residents live in a Waikiki condo, enjoying a fun, upbeat, and extremely lively lifestyle; many feel like they are on vacation every day. Waikiki’s busy streets are full of nightclubs, restaurants, shops, art galleries and much more. World renowned Waikiki beach is within walking distance of every Waikiki condo.
Waikiki’s location ensures that its residents never run out of things to do. Outdoor activities are centered on the ocean: From some of the world’s best surfing, to paddle boarding, canoe paddling, kayaking, boating, snorkeling, and swimming, the options are endless! But bordering Waikiki is popular Kapiolani Park, used for jogging, tai chi, tennis, soccer, and almost any imaginable outdoor activity.
The Honolulu Zoo as well as the Honolulu Aquarium are in walking distance of all Waikiki real estate. Festivals, concerts at the Waikiki Shell, sidewalk performers, and the never-ending stream of tourists walking Kalakaua Avenue ensure a lively street scene. The International Market Place is filled with hundreds of booths selling all sorts of items, from henna tattoos to freshly painted artwork. With all of Waikiki’s hotels, residents can enjoy a day off from their busy lives and act like a visitor, sipping a drink by the side of one of the many hotels pools or enjoying the live music at most hotels. At the end of each day, residents and visitors alike watch the beachfront tiki torch lighting and hula show, and pause to appreciate the magnificent sunset over the ocean either from their Waikiki condo or on the beach itself. Every Friday night, fireworks help make you feel like your life is one long vacation. If you own a Waikiki condo, the lifestyle is different than almost anywhere else on Oahu because of its status as a tourist destination. Waikiki is on the Leeward side of the island, protected from the tradewinds and almost always sunny with a clear sky, perfect for heading to the beach.
Waikiki real estate ranges from budget condo units priced under $100,000 to luxurious penthouse units at such high rise projects as the Trump Waikiki at over $3 million. A nicely renovated 2 BR unit with a view can be purchased for under $500,000. The least expensive Waikiki real estate is leasehold condo units, but since you don’t own the land and instead lease it for a fixed period of time, this can be misleading. Waikiki condos are very popular among local and international investors and can offer a steady cash flow and likely appreciation.