Updates Ritz-Carlton Waikiki West Tower (1st tower) opened to most owners June 2016 and the hotel opened to the public July 2016. East Tower is expected to be complete Aug / Sept 2018 (2nd tower).
Background Originally, the developer planned to built just the Ritz-Carlton Waikiki West Tower, but due to the great demand decided to built a 2nd tower (East Tower). This meant these were 2 seperate condo projects, with its own independent public reports etc, which the developer later merged to make the 2 towers part of the same one condominium property regime once both towers are completed.
Good to Know About Ritz-Carlton Waikiki Chech-in takes place in the West Tower 8th floor main lobby, which connects directly to the East Tower. The East Tower will have a 2nd floor lobby. Pets allowed (verify). All units face ocean, except some corner units. Both towers will be 350ft tall - 2nd tower slimmer. Flooring: Oak wood. Kitchen: Miele appliances, walnut kitchen cabinetry and marble countertops. Developer: Irongate – also developed Trump Tower Waikiki. Maintenance Fees: $1.60 / sqf (expected to be closer to $1.5 / sqf once the East Tower is completed). Electricity is a separate charge. 90%+ of owners are cash buyers (estimate). Ceiling height: Deluxe & Grand Levels = 8ft 4inches, Premier Levels = 9ft, Penthouse Levels (37-38F) = 19ft (for some units). Parking: Located on 3rd to 6th floor. There are no assigned parking stalls for any of the units. However, tenants can rent a stall during their stay and owners can use parking free of charge during their stay.
Amenities 2 swimming pools (8F, lobby level): 74ft lap pool in the west tower and a family oriented pool in the east tower, which will be nearly 3 times as large as the west tower pool. Spa (west tower): Managed by Ritz-Carlton. Fitness / Gym (west tower, 6th floor) - access by elevator or staircase by west tower pool. Kid’s play area (east tower). Media Room (east tower). Restaurants: Sushi Sho from Tokyo and 2 BLT (1 in either tower). Dean & Deluca coffee shop (west tower ground level). Grocery Store (east tower).
Rental Related Owners are allowed to: a) run as a vacation rental unit (via Ritz’ vacation rental program or one of the vacation rental agencies on Ritz’ preferred vendor list), b) use unit as owner occupant, 3) rent out to long-term tenants (if lease is 1 year or more, owner is allowed to use any 3rd party rental agency).
Studio & 1BR: Almost all units are in the hotel rental program (estimate). 2BR: 70%+ in hotel rental program (estimate). 3BR: 35% in hotel rental program (estimate).
Penthouses at Ritz-Carlton Waikiki Located on the 37F to 38F in 2BR to 4BR configuration with about 2,000sqf to 5,500sqf interior. Most penthouse units have a rooftop wooden deck with Jacuzzi, plunge pool & BBQ. Pricing is roughly in the $7M – $24M range. Contact Kristian for floor plans & more details.
Floor Plans, East Tower (Tower 2) Deluxe Level: 10F – 25F, studio to 1BR configurations.
Grand Level: 26F, studio to 2BR configurations.
Grand Level: 28F – 33F, 1BR to 3BR configurations.
Disclaimer: The above includes graphical renderings, which should not be relied upon in deciding to purchase a condo. This is not intended to be an offer to sell nor a solicitation of offers to buy real estate.
The Ritz-Carlton Residences Condos - Trends & Statistics
The price range of condos for sale in The Ritz-Carlton Residences is $760K to $8.28M with a median price of $1.33M and median interior of 744sf.
The median price of condos sold in The Ritz-Carlton Residences year-to-date (Jan - Sep 22, 2017) is $1.4M. In previous years it was $1.1M (2016).
10 condos have sold in The Ritz-Carlton Residences year-to-date (Jan - Sep 22, 2017). In previous years, the total number of condos sold were 18 (2016).
On average The Ritz-Carlton Residences condos were on the market for 113 days before they were sold (Jan - Sep 22, 2017). In previous years it was 60 days (2016).
The average days on market for The Ritz-Carlton Residences condos before sold was 89 days August 2017 compared to 102 days August 2016.
The ratio of The Ritz-Carlton Residences condos sales price vs list price was 92.7% August 2017 compared to 100.0% August 2016.
2 The Ritz-Carlton Residences condos were sold August 2017 compared to 1 condo sold August 2016.
The total dollar volume of condos currently for sale in The Ritz-Carlton Residences is $90.65M and the sold dollar volume year-to-date (Jan - Sep 22, 2017) is $16.52M. In previous years sold dollar volume was $24.8M (2016).
The most recent sale in The Ritz-Carlton Residences was a condo located at #2207 , sold for $1M on Aug 11, 2017. It had 501sf of interior. 9 other recent sales include: #2002 (1,120sf) sold for $1.88M on 8/4/2017. #2210 (665sf) sold for $1.35M on 6/23/2017. #2012 (400sf) sold for $864K on 4/18/2017. #1615 (757sf) sold for $1.45M on 3/20/2017. # (501sf) sold for $897K on 2/16/2017. #3606 (1,263sf) sold for $3.34M on 2/6/2017. #902 (1,120sf) sold for $1.62M on 1/20/2017. #3603 (1,418sf) sold for $3.3M on 1/3/2017. #1812 (400sf) sold for $810K on 1/3/2017.
In The Ritz-Carlton Residences there is currently 44 fee simple units for sale. 44 of the condos have ocean views, 4 have Diamond Head views and 5 have mountain views.
There are 17 studio floor plans, 11 x 1 bedroom floor plans, 8 x 2 bedroom floor plans, 7 x 3 bedroom floor plans and 1 x 4 bedroom floor plan.