Over the last two decades—and especially following extensive high-end development in the last several years—a Waikiki address has not only regained the status it boasted in earlier years, but has also risen to stratospheric heights in tandem with the luxury residential towers now even more available in the neighborhood. As an international investors’ market, Waikiki always commands top dollar and holds its value well. Whether for retirement, investment or the live/work/play lifestyle, a Waikiki residence is the way to go.
At less than 2 miles long and barely four blocks wide, Waikiki naturally subdivides into micro neighborhoods characterized by its nearby beaches, shops or parks. The western edge of the district has a higher percentage of residential buildings versus hotels, as well as wide beaches, a leafy park, several notable restaurants and other services. It’s also within walking distance to central Honolulu, including Ala Moana Center and the Hawaii Convention Center.
This area of Waikiki continues to be developed and in high demand. Not only are major established luxury high-rises such as The Waikiki Landmark, Canterbury Place and Waipuna located here, but also the exquisite Watermark tower, constructed in 2008, and the upscale Allure Waikiki, built in 2010. The boutique Cove, a mid priced low-rise with a hip vibe, is under construction.The fee-simple Allure Waikiki has proved particularly attractive to the younger upscale set and features elements such as an infinity pool, state-of-the-art fitness center and outdoor spa, with two- and three-bedroom units ranging in price from the mid-$800,000s to nearly $3 million. The luxurious
Watermark, a four-acre gated community only a block from the beach, also includes a library/media room as well as walking paths. Units in this condo start at just under a million for two bedrooms and top out at about $3 million for three bedrooms.
In central Waikiki, entire blocks have transformed into lush shopping and dining arcades punctuated by new or renovated hotels. Built in 2009, the 38-story Trump Tower Waikiki stands as a monument to the new Waikiki on the edge of its most opulent stretch, and overlooking parkland and the beach. Units range from $500,000 for a studio to nearly $5 million for three bedrooms. Two blocks inland from Trump Tower, the regal Lanikea, built in 2005, offers units from just under a million to well over $3 million for penthouses with an almost 360-degree view of Honolulu.
Nestled among Waikiki’s most exquisite properties are also many highly desirable mid-priced residential condos that offer easy access to everything the neighborhood has to offer.
And what the neighborhood offers is plenty indeed. We’ll reveal the best of the new Waikiki in our next two blogs.
Photos: Stacy Pope