A large number of buyers who contact me are looking for a Waikiki condo that they can use for vacations and rent out the rest of the year to other vacationers.
One of the most popular buildings that can accommodate this type of use is the Waikiki Banyan, located one block from the beach on the Diamond Head side of Waikiki, where all the action is. It is managed like a hotel, however, all the units are individually owned, one bedroom condos with full kitchens and a parking stall.
Owners that want to receive rental income have the option to contract with any of several rental management companies that are on-site to accommodate the vacation rentals.
Waikiki Banyan lobby
The recreation deck is one of the best in Waikiki with a pool, whirlpool, tennis court, putting green, barbecue grills, an exercise room, and a sauna.
Waikiki Banyan recreation deck
Pictured below is a nicely remodeled Waikiki Banyan condo that one of my clients purchased this month for $435K.
Waikiki Banyan condo
The current average asking price on active one bedroom listings is $406K, and average sales price for the past 6 months is $402K. You can see all the current active listings on my Waikiki Condo Vacation Homes property gallery.