Commentary - Waikiki Sunset: Waikiki Sunset is located on a quieter side street. A walk to the beach is only 1-Ĺ blocks. The condominiums are largely rented out through Astonís 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://www.honoluludpp.org/Portals/0/pdfs/HotIssues/NUCreport.pdf
Lender Statistics - Waikiki Sunset
Management Co: Hawaiiana 593-9100
Owner Occupancy: 20%
Condo Type: Condotel
Typical Loan Options and Down Payment Requirements:
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
Paul C. Ford Realtor (R) Honolulu Condo Sales Buyer's Agent
Jonathan Ford Realtor (R) Honolulu Property Finds Buyer's Agent
Condominium Configurations - Waikiki Sunset
601 - 631 SF
This standard configuration is a comfortable suite.
Found in units: 01, 02, 03, 04, 05, 06, 07, 08, 09, 10, 11, 12
Corner End unit has sunset views and two small bedrooms.
Found in units: 13, 14
2 - Penthouse Suite
1,209 - 1,308 SF
Penthouses are on floor 38 and are twice the size os a standard unit.
The above active listings are based on information from the Multiple Listing Service of the Hicentral MLS, Ltd. Active listings last updated on 3/28/2015. Information is deemed reliable but not guaranteed. Copyright: 2015 by the Hicentral MLS, Ltd. more.