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Waikiki Sunset
229 Paokalani Ave
Waikiki - East
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$265,000
- $1,200,000
Fee Simple and Leasehold
View on Map
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Commentary - Waikiki Sunset:
Waikiki Sunset is located on a quieter side street. A walk to the beach is only 1-½ blocks. The condominiums are largely rented out through Aston’s Hotel program, which yields a market driven income and is advertised by Aston as a family hotel. Owners are free to manage units themself or hire a 3rd party property manager.
Air conditioning is central. Security features include hotel staff and private guards.
While most units have recently converted to Fee Simple, there primary 2 land owners in the building, Liliu'okalani trust and St Francis Hospital. The lease expires in 2036 for the leasehold units.
Waikiki Sunset was originally zoned has a hotel but has since been rezoned as a residential building. As a result, only owners that have maintained a non conforming use certificate to allow for overnight rentals may legally rent their units out for less than one month, Honolulu's Department of Planning and Permitting maintains a list of Non Conforming Use Certificates here:
http://honoluludpp.org/HotIssues/NUCreport.pdf
For Investors: 1 day minimum on unit rentals
Amenities: Swimming pool, barbeque grill, sauna, and Tennis Court are above parking garage on 6th level.
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| Units: |
435
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| Stories: |
37
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| Elevators: |
4
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| Parking: |
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| Pets: |
Yes, approval required
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| Year Built: |
1979
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>> Click for Waikiki Sunset's AOAO Biennial Registration Form
The following data is available in the above AOAO Biennial Registration link:
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Owner Occupancy: Check Section 6 |
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Maintenance Fees: Check Section 8 |
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Special Assessments: Check Section 9 |
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Pets Allowed: Check Section 12 |
Lender Statistics - Waikiki Sunset
| Owner Occpt %: |
20% |
| Land Tenure |
Fee/Lease Mix expires:4/14/2036 |
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| Condo Type: |
Condotel |
| Management Co: |
Hawaiiana Mgmt 593-9100 |
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Typical Loan Options and Down Payment Requirements:
Lodging unit/Condotel: 100% down - Lenders are currently not lending on studios without a full kitchen (hotel rooms)
Condotel unit with Full Kitchen: 30% down with minimum credit score of 680
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Condominium Configurations - Waikiki Sunset
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Bedrooms:
1
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Baths:
1
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Square Feet:
601 - 631 SF
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Lanai:
yes
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Qty:
366
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Comments:
This standard configuration is a comfortable suite.
Found in units: 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12
View floor plan
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Bedrooms:
2
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Baths:
1
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Square Feet:
660 SF
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Lanai:
yes
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Qty:
62
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Comments:
Corner End unit has sunset views and two small bedrooms.
Found in units: 13, 14
View floor plan
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Bedrooms:
2 - Penthouse Suite
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Baths:
2
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Square Feet:
1,209 - 1,308 SF
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Lanai:
No
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Qty:
7
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Comments:
Penthouses are on floor 38 and are twice the size os a standard unit.
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The above active listings are based on information from the Multiple Listing Service of the Hicentral MLS, Ltd. Active listings last updated on 5/16/2012. Information is deemed reliable but not guaranteed. Copyright: 2012 by the Hicentral MLS, Ltd. more.
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