Opinion of Marine Surf Waikiki

[Tiffany Kho]

Hi everyone,

I manage 2 Airbnb's (one in Orlando and one in San Diego) but now I'm interested in buying a condo in Waikiki located in their resort zone which allows short-term rentals in Oahu. Does anyone have an opinion of the Marine Surf Waikiki condominiums on Seaside Ave? I like how it has parking included and is close to the International Market for shopping, although it is an older building like many of the hotels in Waikiki. I'm also interested in finding an investor friendly realtor in Oahu.

Thanks!

Tiffany

[Michael Baum]

Hey @Tiffany Kho. Have you checked AirBNB and VRBO to see what the condos are doing with other owners?

Have you read up on their by-laws to see if you need to use in house management or any other rules?

[Carlos Ptriawan]

Quote from @Tiffany Kho:

Hi everyone,

I manage 2 Airbnb's (one in Orlando and one in San Diego) but now I'm interested in buying a condo in Waikiki located in their resort zone which allows short-term rentals in Oahu. Does anyone have an opinion of the Marine Surf Waikiki condominiums on Seaside Ave? I like how it has parking included and is close to the International Market for shopping, although it is an older building like many of the hotels in Waikiki. I'm also interested in finding an investor friendly realtor in Oahu.

Thanks!

Tiffany

If parking is there then it is good , make sure you are comfortable with the HOa. Try to get performance report from the owner. make sure it is fee simple and not leasehold , make sure there are few unit is being sold in the particular code. read the HOA assessment carefully

[Sarah Kensinger]

@Carson McGee may know of the resort you're thinking of purchasing a condo in. He knows a lot about Hawaii and operates a number of STR there.

[Andrew Steffens]

@Bryan Vukelich is an expert in Waikiki!

[Carson McGee]

Quote from @Tiffany Kho:

Hi everyone,

I manage 2 Airbnb's (one in Orlando and one in San Diego) but now I'm interested in buying a condo in Waikiki located in their resort zone which allows short-term rentals in Oahu. Does anyone have an opinion of the Marine Surf Waikiki condominiums on Seaside Ave? I like how it has parking included and is close to the International Market for shopping, although it is an older building like many of the hotels in Waikiki. I'm also interested in finding an investor friendly realtor in Oahu.

Thanks!

Tiffany

 Hi Tiffany,

I'm happy to share our experience in Waikiki. There are quite a few good condo buildings in the area. 

[Bryan Vukelich]

Quote from @Tiffany Kho:

Hi everyone,

I manage 2 Airbnb's (one in Orlando and one in San Diego) but now I'm interested in buying a condo in Waikiki located in their resort zone which allows short-term rentals in Oahu. Does anyone have an opinion of the Marine Surf Waikiki condominiums on Seaside Ave? I like how it has parking included and is close to the International Market for shopping, although it is an older building like many of the hotels in Waikiki. I'm also interested in finding an investor friendly realtor in Oahu.

Thanks!

Tiffany

Hi Tiffany, I have clients who own at Marine Surf and are happy with their unit and the building. A couple great things are that almost all units have full kitchens so you can get the best financing terms, and that the units come with parking. Plus, with a great central location, it is one of the more popular STR buildings in Waikiki. Please note, units have to be registered (then renewal annually) with the Department of Planning and Permitting in order to be operated as legal vacation rentals.

If you have any other questions, please don't hesitate to contact me - I'm here to serve.  

Also, we just launched a new vacation rental management division with the goal of offering owners and guests, consistently superlative service.  If you decide to acquire a property on O'ahu and need management, I'm happy to chat.  

[Bryan Vukelich]

Quote from @Andrew Steffens:

@Bryan Vukelich is an expert in Waikiki!

 Big Mahalo Andrew for the support.  Hope life and business is going well for you.  

[Tiffany Kho]

Thank you everyone for your responses and advice!

@Michael Baum and @Carlos Ptriawan these are good questions to ask. Luckily it is fee simple and I would need to read up on the HOA by-laws. It looks like a lot of the owners use an outside PM or self-manage from what I can tell on Airbnb.

@Sarah Kensinger and @Andrew Steffens thank you for the referrals! 

@Carson McGee thank you for the message!

@Bryan Vukelich thank you for the information! I will keep you in mind!

[Carlos Ptriawan]

Quote from @Tiffany Kho:

Thank you everyone for your responses and advice!

@Michael Baum and @Carlos Ptriawan these are good questions to ask. Luckily it is fee simple and I would need to read up on the HOA by-laws. It looks like a lot of the owners use an outside PM or self-manage from what I can tell on Airbnb.

@Sarah Kensinger and @Andrew Steffens thank you for the referrals! 

@Carson McGee thank you for the message!

@Bryan Vukelich thank you for the information! I will keep you in mind!

 One thing , not all Waikiki condo performs the same so you may want to analyze further on that specific building 

[Sayed Jaffar]

Quote from @Tiffany Kho:

Hi everyone,

I manage 2 Airbnb's (one in Orlando and one in San Diego) but now I'm interested in buying a condo in Waikiki located in their resort zone which allows short-term rentals in Oahu. Does anyone have an opinion of the Marine Surf Waikiki condominiums on Seaside Ave? I like how it has parking included and is close to the International Market for shopping, although it is an older building like many of the hotels in Waikiki. I'm also interested in finding an investor friendly realtor in Oahu.

Thanks!

Tiffany

 Hi Tiffany,

Marine Surf Waikiki is a good option for anyone who wants to do a legal STR in Waikiki area. The fact that it is one of the fewer buildings located on the ocean side of Kuhio Avenue, which comes with assigned parking. So in that respect it is a good option, and location is also very good.

These are all studio apartments with a living area of 392 SF (not too bad from Waikiki standard), however the price in this building has already gone much higher over the past few year. I don't know how the numbers would look like now if someone is acquiring the property at this level.