Many clients are looking for condos with lower HOA fees, and in this day and age, why wouldn’t you? Some people equate lower fees with smaller quarters, but that really isn’t the case.
Gorgeous sunset views from Harbor View Plaza
As of this writing, the condos available for sale in Waikiki are offered with a range of HOA fees from $195 – $2,639, but I’d like to point out 9 different buildings that have HOA fees under $500/month. I chose fee simple ownership mostly to keep monthly fees less complicated, and I specifically looked at only 2-bedroom units for obvious square footage perks.
Waikiki Condos For Sale with Low HOA Fees
Here are the nominees:
- Coral Terrace Apts: unit #604 (MLS# 1202140), 2/2, 820 sq.ft., $345,000 HOA: $480
- Cove Waikiki: unit #A212 (MLS# 1114185), 2/1, 799 sq.ft., $432,800 HOA: $490
- Fairway Manor: unit #1103 (MLS# 1208802), 2/2, 935 sq.ft., $394,000 HOA: $381
- Harbor View Plaza: 3 condos available, all 2/1, all 801 sq.ft. all HOA: $425
- King Kalani: unit #503 (MLS# 1211684), 2/2, 888 sq.ft., $399,000 HOA: $390
- Niihau Apts: unit #201 (MLS# 1211079), 2/1, 835 sq.ft., $322,000 HOA: $486
- Oahu Surf 2: unit #901 (MLS# 1209381), 2/1, 654 sq.ft. (largest lanai at 264 sq.ft.), $375,000 HOA: $456
- Scandia Towers: unit #803 (MLS# 1210886), 2/2, 863 sq.ft., $398,800 HOA: $415
- Waipuna: unit #3010 (MLS# 1209083), 2/2, 948 sq.ft., $650,000, HOA: $447
Not All HOA Fees Are Created Equal
There is a Caveat Emptor here, which is not all HOA fees are created equal, and you will need to determine what specifically the fees cover, what they do not, if there are any special assessments coming up, and in general, how well the homeowners’ association handles its funds.
Don’t be put off by HOA fees; remember, the association is doing as a group what most single family homeowners need to do alone, essentially reserve funds for present and future maintenance and repairs, as well as insurance on the building.