That is certainly the goal (revitalize downtown) the nonprofits here are making "filling storefronts" with viable businesses and keeping tourist downtown,  longer. 

Take advantage of the seasonal tourist market premium.  

What kind of airbnb would this be - for traveling workers, vacation spot, tourist spot? 

@Kyle Pierrehumbert it's easy for all the commentors to tell you to deny these applicants.REALITY: many tourist-related businesses are having a hard time finding seasonal workers due to lack of affordable housing!

Considerations we've heard/read about are: distance to primary residence, location of the property in comparison to the primary residence (ie, if we live by the beach and we buy a property by the beach, it's likely not our vacation or second home, whereas living inland and buying in downtown or by the beach could be a more likely second or vacation home), and minimum timeframes for owner occupancy (like 14 nights if we eventually choose to do STRs there).We live inland and if this does allow us to buy at a higher price point, we're open to looking in more tourist-y areas of the city.

There is a cruise ship port there so it was flooded with tourists.

I am looking into renting to listing on Airbnb and furnish finder for my mid term rental since Honolulu is not really short term rental friendly outside of the tourist areas.Would like to hear others experience doing mid term rentals in Oahu.

For most stocks, you need to have a worldwide knowledge.

Favorable landlord/tenant laws, taxes do NOT reassess on the sale, land constraints with lots of demand, tourist destination (Lake Tahoe) right next door, consistent job/population growth, very minimal amount of pests, etc. 

I'm 2.5 miles from one of the busiest tourist airports in FL4.