Waikiki Real Estate

There is nothing in the world like Waikiki, and those who love it really love it. There are an incredible number of different condo properties here, even though it's only a couple square miles in size. Waikiki is a very densely packed area with hardly any open space. There are more than a hundred high rise buildings in this small area.

Waikiki condos are a market of their own. With probably the highest non-owner occupancy rate in all of Hawaii, condos in Waikiki trade like a commodity. You can get everything from a leasehold 1-room studio with a view overlooking a parking lot for about $150,000, to a multi-million dollar penthouse with views of the entire coast. Real estate this diverse may even be located in adjacent buildings.

The draw of Waikiki condominiums is that they offer residents a combination of island life and the convenience of big city living. Within a 2-minute walk of a person's home in Waikiki, there may be world class surfing and three or four Starbucks.

A lot of people who want to buy a vacation home in Honolulu will look for a small condo in Waikiki. You can rent Waikiki condos out all year long, because of the huge number of tourists that visit the area.

The "off season" five to seven years ago used to be April-May, and September-October. Coincidentally, these are the nicest times to be in Hawaii, but the "high season" is defined by snow birds in the winter, and summer vacation in the summer. People have gradually come to realize that Hawaii is perfect year round, and the "off-season" has disappeared. For this reason, not a lot of low season pricing. I think much of this has to do with people realizing that Hawaii is the only safe and comfortable North American tropical destination left, (save for Costa Rica, Panama and Puerto Rico) now that Mexico seems to have lost almost all of its tourism revenue to the drug lord based crime there.