Hawaii Living

Waikiki Sunset #705 (Waikiki)

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  • Sold 10/17/22 at $150,000
    (List Price: $180,000)
  • Beds: 1
  • Baths: 1
  • Living: 546 sqft
  • Tenure:Leasehold ?
  • Leasehold Expiry: 04/01/36
  • Lease Rent: $ 165 / month
  • Fee Purchase: Not available
  • Built: 1979
  • Parking: 1
  • Maint. (HOA) Fees: $760 / month
  • Property Taxes: $149 / month ?
  • Est. Mortgage: $887 /mo - adjust loan
  • Time Listed for Sale: 75 days
  • Status: Sold
  • Buy without visiting ?
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229 PAOAKALANI Ave #705, Honolulu

This property was sold October 17, 2022 for $150,000
Description
This is LEGAL VACATION RENTAL with a Non-Conforming Use Certificate (NUC). Aqua Aston is managing as a hotel unit. Monthly approximate rental income in past 3 months in 2022 is $2,227. Leasehold expires in April of 2036 and monthly maintenance fees include Cable TV, Central Air, Electricity, Internet, Hot/cold water, Sewer, and common area expenses. The Fee is not available. Asking price dropped by $40,000!
Past Activity
  • Oct 17, 2022 Sold for $150,000
  • Sep 09, 2022 In Escrow
  • Aug 29, 2022 Price $180,000
  • Jul 06, 2022 Back to Active
  • Jun 10, 2022 In Escrow
  • May 31, 2022 Listed at $220,000
More Details
  • Owner, Tax & Resale History: Click here
  • HOA Fees / Interior Sf: $1.39
  • Price / Interior Sf: $330
  • HOA Fees Include: AC Central, Cable TV, Electricity, Hot Water, Internet Service, Other Common Expenses, Sewer, Water
  • Zoning: X2 - Apartment Precinct
  • Elementary School: Jefferson
  • Middle School: Washington
  • High School: Kaimuki
  • View: City
  • Owner Occupancy: 5%
  • Management Company: Hawaiiana
  • Security Features: Key, Keyed Elevator, Security Patrol
  • Amenities: BBQ, Community Laundry, Condo Association Pool, Exercise Room, Fire Sprinkler, Recreation Area, Recreation Room, Resident Manager, Sauna, Security Guard, Trash Chute
  • TMK: 1-2-6-28-11-13
  • Tax Assessed Land: $79,100
  • Tax Assessed Improvements: $424,500
  • Tax Assessed Total: $503,600
  • Courtesy: Fogarty Realty, Inc. / (808) 227-5165
  • MLS: 202206863
Blog
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on November 29, 2022. Information is deemed reliable but not guaranteed.
About Waikiki Sunset
  • Address: 229 Paoakalani Ave, Honolulu, HI 96815.
  • Built in 1979, 38 Floors with 435 Units, 1 & 2BR Floor plans, Pets: OK (verify).
  • Amenities include Heated Pool, Lighted Tennis Court, Sauna, BBQ Area, Convenience Store.
  • Free Beach Ball for the kids when they check in and every room has a Playstation (fee required)!
  • Many, but not all units allow for short-term vacation rentals - learn more here.

News
As per Bill 41 (CO 22-07), all Waikiki Sunset and Waikiki Banyan units are now legal STRs, even the ones that don’t have a NUC.

About Waikiki Sunset
Condotels like the Waikiki Sunset condo have become more and more popular with Hawaii vacationers, due to the kitchen facilities that give them meal independence, much of the same hotel services, but often at a lower price. This attractiveness has made them equally popular with real estate investors because they can possibly produce a good, steady income.

The Waikiki Sunset condo sits on the Diam  ....click here to read more
Description
This is LEGAL VACATION RENTAL with a Non-Conforming Use Certificate (NUC). Aqua Aston is managing as a hotel unit. Monthly approximate rental income in past 3 months in 2022 is $2,227. Leasehold expires in April of 2036 and monthly maintenance fees include Cable TV, Central Air, Electricity, Internet, Hot/cold water, Sewer, and common area expenses. The Fee is not available. Asking price dropped by $40,000!
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on November 29, 2022. Information is deemed reliable but not guaranteed.
  • Address: 229 Paoakalani Ave, Honolulu, HI 96815.
  • Built in 1979, 38 Floors with 435 Units, 1 & 2BR Floor plans, Pets: OK (verify).
  • Amenities include Heated Pool, Lighted Tennis Court, Sauna, BBQ Area, Convenience Store.
  • Free Beach Ball for the kids when they check in and every room has a Playstation (fee required)!
  • Many, but not all units allow for short-term vacation rentals - learn more here.

News
As per Bill 41 (CO 22-07), all Waikiki Sunset and Waikiki Banyan units are now legal STRs, even the ones that don’t have a NUC.

About Waikiki Sunset
Condotels like the Waikiki Sunset condo have become more and more popular with Hawaii vacationers, due to the kitchen facilities that give them meal independence, much of the same hotel services, but often at a lower price. This attractiveness has made them equally popular with real estate investors because they can possibly produce a good, steady income.

The Waikiki Sunset condo sits on the Diam  ....click here to read more
 
You do not own the land, but have the right to use the land until an expiration year. At expiration the ownership typically reverts back to the land owner.
Leasehold Expiry: 04/01/36
Buyer and Seller have reached an agreement and are under contract. However, the sale is still subject to one or more contingencies.
We have handled many transactions for clients who purchase Hawaii real estate without visiting. By request, we can prepare thorough property videos to ensure you are familiar with every detail necessary. All documents can be signed remotely.
Buyer and Seller have reached an agreement and are under contract. The sale is expected to close / record soon.
We will be happy to work with you as a Buyer's agent. Call us to learn more: 808-943-9000.
Note: A Seller's agent has a fiduciary responsibility towards the Seller. Working with a Buyer's agent objectives and goals are aligned, at no cost to you, the Buyer.
Other fees could be a special assessment, reserve contributions etc.
DOM = Days On Market. Our site shows listings immediately. A brand new listing may show DOM 2 or 3 days, if listing agent did not upload the same day listing agreement was executed.
Includes estimated monthly mortgage payment, maintenance / HOA fees & property taxes. The estimate does not include insurance premiums.
Learn more about Oahu property taxes here.