How to Choose an Investment Property in Waikiki - Part 1

There are thousands of condominiums in Waikiki, so how do you choose which one to buy as an investment property? Here are two things that you need to look at to narrow your search—desired type of tenant and desired length of stay.

Part 1: Choose Your Tenant

Each building in Waikiki attracts a specific type or types of potential tenants, which you need to be aware of. Do you want to entrust your rental unit to college students, families with kids, individual travelers, couples on their honeymoon, long-term international students or local residents?

If you decide that you prefer renting to families, then you would be better off with a one-bedroom unit with a parking stall, a kitchen (or kitchenette) and extra bedding options in the living room.

Kitchenette with hot plate and microwave

If you want to rent to a younger single international traveler, they will most likely not need a parking space but they will be more inclined to rent in a building that has high security since safety is high on their list of wants.

Your investment property can be highly profitable regardless of the type of tenant you choose, as long as your unit caters to your target market’s major wants and needs. So, first determine what types of guests you would like to attract, then you can narrow your search to a few buildings that will match your target tenant's criteria.