Waikiki condotel * hotel condo in Waikiki * new Waikiki hotel condo project for sale

ALA MOANA HOTEL CONDOMINIUM

- one of Hawaii's largest urban developments and most exciting concepts in real estate is centrally located just minutes away from both the Ward Shopping District and Waikiki. Ala Moana means "Pathway to the Ocean" and this multi-million dollar transformation into the Ala Moana Hotel Condominium offers world famous attractions within a few minutes casual stroll.

The renowned Ala Moana Center offers an unsurpassed shopping selection of the world's most recognizable stores and boutiques while beautiful Ala Moana Beach Park offers one of Oahu's favorite recreational experiences.  more then 70 listings available for sale , priced from $140K up to upper $600K

410 Atkinson Dr  # 1723 Best buy in the complex! Awesome large ocean view unit on the Diamond Head side of the preferred Waikiki Tower - priced to sell at $211,000! Turn key vacation rental unit in hotel pool - completely and beautifully renovated in 2006. Perfect location near everything - shopping, restaurants, the beach, and more. This is a great opportunity! Stay here when you come to Honolulu and earn income while you are away!     Inter: 297sq ft Lanai : 48 sq ft  

The Ala Moana Hotel Condominium offers all residents a fitness center, sauna, and steam facilities and a swimming pool with pool bar and cabanas. Amenities also include a full service Concierge, 24-hour valet, room service, housekeeping services, restaurants and a contemporary piano bar lounge.

The comforts of urban life reflected in the interiors include furniture with custom wood finish and tempered glass accents, various layouts with two doubles or one king bed, custom-made sofa beds, lighting, solid stone counters and marble bathroom vanities, 20Ó flat screen LCD wall-mounted TV's, high-speed internet access and central air conditioning. The Ala Moana Hotel Condominium is Hawaii's ultimate tropical urban lifestyle located at the ultimate location.

Call 808-224-7274 or e-mail me at elena.roud@pruhawaii.com

I will be glad to help with all your Real Estate Needs!

Comparative Market Analysis 7/25/2008

( ListPrice / IntSqFt ) : ( Average$ 257,968 / Average 321 ) = $ 803.64

( SoldPrice / LivSqFt ) : ( Average $202,555 / Average 297 ) = $ 682.00

AMENITES

FEATURES

SUITES

All of the units are completely remodeled with the latest design and furnishings. Our units feature custom furniture with cherry wood finish and tempered glass accents, luxurious bedding, custom lighting, cabinets and marble throughout. Each suite also includes high speed Internet access and LCD flat-screen televisions. Style and innovation have never looked so refined.

Hawai'i, particularly Waikiki, is one of two epicenters of the recent condotel trend, along with South Florida. The trend is now making its way to other tourist markets, including Las Vegas and parts of California. Demand is surging for condotels in Hawai'i in part because of strong tourism, low interest rates, an expectation that rooms will appreciate in value and because prices for a furnished hotel room can be half that of a larger residential condo with parking and a full kitchen.

What has been selling recently in Waikiki are mostly renovated small studio units without kitchens or parking that make them generally unsuitable for long-term living. Industry followers credit the Diamond Head Beach Hotel conversion in 2001 with kicking off the recent hotel-to-condotel conversions that include the Ohana Ala Wai Towers, Aston Waikiki Beachside, Aston Waikiki Parkside, Bamboo Hotel, Kaua'i's Islander on the Beach, part of the Royal Garden at Waikiki, part of the Hawaiian Monarch Hotel and part of Kuhio Village.

Condotel units have proven popular among airline employees who make frequent visits, frequent vacationers and parents seeking dorm rooms for their children. Others are out for the potential financial gain. Some speculate they can resell their unit for more. Others seek rental income and perhaps occasional personal use.

Calculating potential financial return is difficult. Sales agents cannot discuss occupancy, rental rates or otherwise make representations as to potential investment returns. A sales agent who even suggests what income a condotel may generate could be violating laws governing regulated securities.

Purchasers of condotels can choose to manage the room themselves, or turn it over to the seller-designated on-site manager that usually operates units for 50 percent of room revenue. Another option is to hire an off-site manager that typically costs less but delivers fewer services. Most buyers opt for the on-site manager that staffs the lobby, housekeeping and other hotel functions.

How can I tell if it is a Condotel?

A condotel is defined a condominium unit, usually in a resort area, is used for short-term, transient, or vacation rentals. While these units are individually owned, they are not really "residential" in nature, but actually function more as "commercial" property, such as a hotel.

Some factors that will indicate condotel usage:

-Daily/Nightly rentals
-Front registration deck
-Daily maid service
-Room service
-Membership in a rental pool.

How can I tell if it is a Lodging Unit?

A lodging unit simply has a complete lack of kitchen facilities (defined as a refrigerator, sink, and range). Also, lodging units tend to have very small square footage, usually below 400 sq. feet. They are essentially hotel rooms.

What kind of loans are available for Condotel/Lodging units?

- FNMA/FHLMC conventional mortgages, FHA/VA are NOT available.

- Private mortgage is NOT available.

- "Piggyback" second mortgages are NOT available, especially for investment units.

- Local portfolio lenders (banks, S&L's, & finance companies) will lend on condotel uints up to 80% of the purchase price (20% down) for investors, second homes, and owner-occupant units.

- For lodging units, a 35% down is required, unless the subject property is over 600 square feet.

- Loans to condotel & lodging units are higher than conventional loan rates, as the lenders cannot sell or transfer these loans. They are hedging against any future rate increases because these loans will remain in their portfolio.

- A higher down payment is requires as mortgage insurance and/or secondary financing is not available for condotel/ lodging units.