Royal Aloha, a leasehold condo hotel (lease expires 2041) with a striking whale mural across its 16 floors on Kalakaua Ave, sits at Waikiki’s entrance with two wings: one facing the Ala Wai Canal, the other overlooking McCully Ave and the city westward.
Units
1BRs (513-520 sq ft), 2BRs (mostly 674 sq ft, some up to 1,115 sq ft), and 3BRs (1,375 sq ft).
Community laundry available.
A mix of owner-occupied and vacation rentals.
Location
At the McCully and Kalakaua bridges, ensuring easy access in and out, avoiding Waikiki’s heavy traffic.
Royal Aloha is a leasehold property and the value of leasehold properties tend to decline as the lease expiration nears. Due to this, a graph of Royal Aloha performance is less relevant. Instead, the graph above depicts the fee simple performance of Waikiki condos, offering a more meaningful representation of the surrounding market.
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We exclude Leasehold data from this market analysis because Leasehold properties do not compare with regular Fee Simple properties.
We use median instead of the average because it depicts more accurately a central tendency to the sample size. Example: Take 5 numbers - 3, 5, 7, 9, 21. The median is 7 (the middle number) and the average is 9 (sum of all divided by 5).
We count days on market from listing date through closing date.
