Built in 1959 with 20 Floors and 172 Units total. Studio to 1BR plans, Pets: OK (verify).
Some units have been combined to create spectacular 2 & 3BR condos.
The Colony Surf has made the jump from Leasehold to Fee Simple! Ownership & Security in this prime location are yours.
Good to Know About Colony Surf
The Colony Surf condo in Diamond Head is located right on an incredible prestine white sandy beach. There are only 4 other condos in Honolulu located on a white sandy beach: San Souci and Kainalu in Diamond Head, Waikiki Shore in Waikiki and Kahala Beach in the Waialae Golf Course neighborhood. Needless to say, a very popular building for ocean lovers.
All units in Colony Surf have 1 large window running across the entire width of the unit, creating an incredible wide view and feel, especially when pushed open (14 inch in the smaller units and 26 inch in the large units). All condos are originally 500sqf or 845sqf with lanais. However, the "01" and "04" units are slight larger than 845sqf, because owners were allowed to enclose an unusable hallway space.
The 845sqf+ condos in Colony Surf are considered 1BR, though the vast majority are over-sized studios without a dedicated bedroom, creating some stunning views. All units above the 3F on the Diamond Head side have nice ocean views and all units facing the ocean have ideal ocean views.
There are 9 units per floor with the "01" - "04" condos facing the ocean and the "05" - "09" units being on the Diamond Head side of the building. Since there are 2 private clubs - Outrigger and Elks - next to Colony Surf (on the Diamond Head side) there are no tall buildings blocking the ocean & Diamond Head views. This will never change, since zoning laws do not allow for any tall buildings to be built on that land.
At the top floor - penthouse - there is just 1 unit, streching from the "01" - "04" stack with windows wrapped around on all four sides - arguably boasting the best views of any condo along the Gold Coast.
Colony Surf is very popular among vacationers, allowing 30 day minimum rental periods.
Brief History & Interesting Information
John Barkhorn is the developer of Colony Surf and in year 1958 he managed to negotiate long-term land leases from a few different land owners and he was able to develop and built Colony Surf. Around the same time he also developed neighboring Lotus Hotel (formerly the W Hotel) and Colony Beach. All 3 buildings were initially part of a hotel operation, but over time all Colony Surf and Colony Beach units were sold as residential units and today there are no hotel units in either building.
Over the years the association of Colony Surf has purchased the fee interest in the land from 4 different land owners. Finally, year 2003, the association managed to purchase the last fee (for the land beneath the parking structure). Following, the association worked on converting Colony Surf from a co-op to a condominium, which required more than a simple majority support from the owners. They managed to get the support of the owners and Colony Surf is today a fee simple condominium.
Note: The association took out a mortgage in order to come up with the funds to pay for the land acqusition. Some owners have paid off their unit's portion of the loan, whereas other owners have decided to pay off on a schedule. Those units are legally still considered co-ops, until their portion of the mortgage is paid off. Owners can pay off an their loan balance and convert to fee simple condominum 4 times per year.
Also Good to Know
During the 1960's there were about 30 hotel rooms without parking stalls.
No units come with assigned parking stall, but there should always be a stall available for each owner to use (as of late 2016 there has reportedly not been issues for owners getting access to a parking stall).
No AC allowed.
Washer / Dryer: Some units have obtained permit to install, but verify if still possible.
The price range of condos for sale in Colony Surf Ltd is $869K to $2.85M with a median price of $2.04M and median interior of 1,220sf.
The median price of condos sold in Colony Surf Ltd year-to-date (Jan 21, 2017) is $1.2M. In previous years it was $1.5M (2016), $1.2M (2015), $1.2M (2014), $875K (2013), $925K (2012), $575K (2011), $755K (2010), $900K (2009), $707K (2008), $850K (2007), $889K (2006), $875K (2005), $776K (2004), $414K (2003).
3 condos have sold in Colony Surf Ltd year-to-date (Jan 21, 2017). In previous years, the total number of condos sold were 11 (2016), 12 (2015), 9 (2014), 12 (2013), 6 (2012), 7 (2011), 10 (2010), 5 (2009), 6 (2008), 7 (2007), 9 (2006), 7 (2005), 16 (2004), 10 (2003).
On average Colony Surf Ltd condos were on the market for 68 days before they were sold (Jan 21, 2017). In previous years it was 157 days (2016), 69 days (2015), 101 days (2014), 83 days (2013), 139 days (2012), 148 days (2011), 127 days (2010), 78 days (2009), 94 days (2008), 110 days (2007), 53 days (2006), 109 days (2005), 136 days (2004), 119 days (2003).
The average days on market for Colony Surf Ltd condos before sold was 611 days December 2016.
The ratio of Colony Surf Ltd condos sales price vs list price was 97.5% December 2016
1 Colony Surf Ltd condo was sold December 2016
The total dollar volume of condos currently for sale in Colony Surf Ltd is $7.81M and the sold dollar volume year-to-date (Jan 21, 2017) is $3.5M. In previous years sold dollar volume was $13.98M (2016), $15.02M (2015), $11.17M (2014), $10.76M (2013), $7.28M (2012), $5.58M (2011), $7.13M (2010), $4.24M (2009), $5.97M (2008), $8.09M (2007), $7.49M (2006), $9.56M (2005), $15.53M (2004), $4.2M (2003).
The most recent sale in Colony Surf Ltd was a condo located at #1706 , sold for $705K on Jan 17, 2017. It had 505sf of interior. 9 other recent sales include: #1509 (853sf) sold for $1.2M on 1/10/2017. #707 & 708 (1,440sf) sold for $1.6M on 1/4/2017. #301 (1,000sf) sold for $1.75M on 12/16/2016. #1508 (505sf) sold for $725K on 10/3/2016. #1202 (900sf) sold for $1.58M on 9/26/2016. # (1,014sf) sold for $1.7M on 7/14/2016. #206 (540sf) sold for $675K on 5/9/2016. #602 (900sf) sold for $1.5M on 4/26/2016. #1104 (1,040sf) sold for $1.75M on 4/21/2016.
In Colony Surf Ltd there is currently 4 fee simple units for sale. 4 of the condos have ocean views, 2 have Diamond Head views and 1 has mountain views.
There are 2 studio floor plans, 1 x 1 bedroom floor plan and 1 x 2 bedroom floor plan.