Built in 1979, 43 Floors with 745 Units, Studio & 1BR Floor plans, Pets: No.
Amenities include Pool, Sauna, BBQ Area, Security Guard, Recreation Deck.
The Island Colony is the tallest hotel, and condotel, in Honolulu.
About Island Colony The Island Colony condo stands on Ala Wai Blvd & Seaside Ave, in the middle of the main stretch of Waikiki. Walk 2 blocks and you're looking at the middle of the Royal Hawaiian Shopping Center, with the hotel that shares that name right behind it. The beach is just beyond that, though you have to find the public access to it, which is about a block east. In other words, you're where's it's at.
This is another of the popular condotel properties, making the Island Colony condos an investment opportunity to consider. The Studio & 1BR units are on the smaller side, making them more appropriate for the vacationer, rather than the long-term resident. You've got two choices if you do take the vacation condo route. You can rent it out yourself, but you'll be limited to stays of at least 30 days. Or you can put it into Aqua Hotels' pool, where they can book it for stays of even one night. You'll have to decide what is best for you.
There's more than location to attract visitors to the building and your condo. Though smaller, they do feature large lanais with views that include Diamond Head, the Koolau mountains and even the ocean from the higher floors. The presence of the Ala Wai Canal and the golf course also promise clear, unobstructed views for at least some time to come on the mauka side.
Buyers need to understand something, though. Some of the Island Colony condos were set aside as Lodging units at the time of its building. Those Lodging units may have some issues getting financing. You will need to determine if the property you're interested in is one of those, before you make any kind of offer. A mortgage professional should be able to tell you whether a unit is, or is not, a Lodging condo and what can be done from there.
Despite that, this is an affordable place to get into the investment property and vacation condo market. Its location, excellent amenities and a recent renovation of the common areas are enough to justify at least taking a good look.
The price range of condos for sale in Island Colony is $225K to $475K with a median price of $295K and median interior of 316sf.
The median price of condos sold in Island Colony year-to-date (Jan - Sep 22, 2017) is $242K. In previous years it was $270K (2016), $250K (2015), $239K (2014), $218K (2013), $200K (2012), $176K (2011), $171K (2010), $155K (2009), $185K (2008), $199K (2007), $188K (2006), $160K (2005), $128K (2004), $105K (2003).
35 condos have sold in Island Colony year-to-date (Jan - Sep 22, 2017). In previous years, the total number of condos sold were 51 (2016), 43 (2015), 38 (2014), 55 (2013), 33 (2012), 38 (2011), 42 (2010), 29 (2009), 41 (2008), 68 (2007), 75 (2006), 81 (2005), 80 (2004), 67 (2003).
On average Island Colony condos were on the market for 58 days before they were sold (Jan - Sep 22, 2017). In previous years it was 98 days (2016), 96 days (2015), 77 days (2014), 70 days (2013), 85 days (2012), 41 days (2011), 69 days (2010), 82 days (2009), 92 days (2008), 103 days (2007), 63 days (2006), 56 days (2005), 57 days (2004), 59 days (2003).
The average days on market for Island Colony condos before sold was 72 days August 2017 compared to 110 days August 2016.
The ratio of Island Colony condos sales price vs list price was 95.6% August 2017 compared to 96.2% August 2016.
3 Island Colony condos were sold August 2017 compared to 4 condos sold August 2016.
The total dollar volume of condos currently for sale in Island Colony is $3.39M and the sold dollar volume year-to-date (Jan - Sep 22, 2017) is $8.95M. In previous years sold dollar volume was $14.03M (2016), $11.47M (2015), $9.62M (2014), $12.65M (2013), $12.33M (2012), $7.07M (2011), $7.27M (2010), $4.72M (2009), $8.1M (2008), $14.3M (2007), $15.05M (2006), $13.75M (2005), $11.02M (2004), $7.59M (2003).
The most recent sale in Island Colony was a condo located at #3618 , sold for $218K on Sep 13, 2017. It had 313sf of interior. 9 other recent sales include: #1611 (308sf) sold for $243K on 9/11/2017. #3514 (316sf) sold for $289K on 9/6/2017. #4011 (308sf) sold for $358K on 9/1/2017. #1721 (570sf) sold for $215K on 9/1/2017. #4121 (570sf) sold for $465K on 9/1/2017. #1008 (316sf) sold for $240K on 8/21/2017. #1710 (316sf) sold for $240K on 8/7/2017. #1602 (563sf) sold for $330K on 8/2/2017. #2310 (316sf) sold for $182K on 7/28/2017.
In Island Colony there is currently 10 fee simple and 1 leasehold units for sale. 7 of the condos have ocean views, 2 have Diamond Head views and 7 have mountain views.
There are 7 studio floor plans and 4 x 1 bedroom floor plans.