Built in 1970, the Palms At Waikiki building currently has 6 units for sale, ranging in price from $299,900 - $445,000. Located in the Waikiki neighborhood, there have been 2 sales in the last 60 days, with a median sold price of $407,500.

These units sold in 38 days on average. Building amenities include whirlpool, restaurant, security guard, exercise room, pool on property, patio/deck, bbq, concierge, community laundry.

Nearby Condos

• Ilikai Apt Bldg (1965)
• The Ritz-Carlton Residences - 383 Kalaimoku (2014)
• The Ritz-Carlton Residences Twr 2 - 383 Kalaimoku (2018)
• Waikiki Banyan (1977)
• Villa On Eaton Square (1974)

Palms at Waikiki Condos for Sale: A Prime Opportunity for Investors

The Palms at Waikiki is a highly sought-after condominium located in one of Honolulu's most vibrant neighborhoods. Positioned at the gateway to Waikiki, this condo offers not just a prime living space but also a potential investment opportunity, particularly for those interested in short-term vacation rentals. If you're looking for a property that combines the excitement of Waikiki with the possibility of rental income, Palms at Waikiki should be on your radar.

Location and Accessibility

The Palms at Waikiki is situated on Ala Moana Boulevard, one of Honolulu's main thoroughfares. This prime location offers residents and visitors unparalleled access to some of the best that Waikiki has to offer. From world-famous beaches to high-end shopping at the Ala Moana Center, everything is within walking distance. Additionally, the condo is just minutes away from the Hawaii Convention Center, making it a convenient choice for business travelers.

Legal Short-Term Vacation Rentals

One of the most attractive features of the Palms at Waikiki is that it is a legally permitted short-term vacation rental property. This is a significant advantage for investors looking to tap into Oahu’s booming tourism industry. Unlike many other condominiums in Honolulu, where short-term rentals are either restricted or prohibited, owners at the Palms at Waikiki can legally rent out their units on platforms like Airbnb or VRBO.

This legal status ensures that your investment has the potential to be both secure and profitable. With millions of tourists visiting Waikiki each year, the demand for vacation rentals remains consistently high, providing an opportunity for property owners to generate rental income. However, it is important to note that investment returns are not guaranteed and can fluctuate based on market conditions, occupancy rates, and other factors.

Condo Features and Amenities

The Palms at Waikiki is a 12-story building that offers a mix of studio and one-bedroom units. Each unit is designed with both comfort and functionality in mind, featuring modern interiors, kitchenettes, and private lanais with stunning views of the ocean, Diamond Head, or the city skyline.

Residents and guests at the Palms at Waikiki have access to a range of amenities, including a heated swimming pool, sundeck, fitness center, and BBQ area. The building also offers 24-hour front desk service and secure parking, ensuring a safe and convenient stay for all.

Investment Potential

Investing in a condo at the Palms at Waikiki offers multiple benefits. First, the legal status as a short-term vacation rental allows for greater flexibility in managing your property. Whether you want to use the unit as a vacation home or rent it out to tourists, the choice is yours.

Second, the location ensures that the property will remain in demand. Waikiki is one of the most popular tourist destinations in the world, and with its proximity to beaches, shopping, and dining, the Palms at Waikiki is perfectly positioned to attract a steady stream of guests.

Finally, the amenities and services provided by the condo association enhance the value of the property. Guests appreciate the convenience of on-site amenities, while owners benefit from a well-maintained property that can attract repeat visitors. However, it’s important to understand that while the potential for rental income is strong, returns are not guaranteed and depend on various factors, including market trends and economic conditions.

Current Market Insights

The real estate market in Waikiki remains robust, with properties like the Palms at Waikiki maintaining their appeal due to their location and rental potential. As of now, the availability of units for sale in this building is limited, reflecting the high demand. Interested buyers should act quickly to secure a unit in this desirable location. in 2013, this condo was in the top 100 most sold on Oahu.

Given the ongoing interest in short-term vacation rentals and the unique benefits offered by the Palms at Waikiki, these condos represent a compelling investment opportunity. However, prospective buyers should carefully consider all aspects of the investment, recognizing that while the potential for returns exists, it is subject to various risks and uncertainties.

Conclusion

Palms at Waikiki condos for sale offer a unique opportunity in one of the most dynamic and desirable locations in Honolulu. With their legal status as short-term vacation rentals, prime location, and attractive amenities, these properties are perfect for anyone looking to participate in Oahu’s thriving tourism market. However, as with any investment, it is crucial to approach with due diligence and an understanding that returns are not guaranteed.