Built in 1979, 43 Floors with 745 Units, Studio & 1BR Floor plans, Pets: No.
Amenities include Pool, Sauna, BBQ Area, Security Guard, Recreation Deck.
The Island Colony is the tallest hotel, and condotel, in Honolulu.
About Island Colony
The Island Colony condo stands on Ala Wai Blvd & Seaside Ave, in the middle of the main stretch of Waikiki. Walk 2 blocks and you're looking at the middle of the Royal Hawaiian Shopping Center, with the hotel that shares that name right behind it. The beach is just beyond that, though you have to find the public access to it, which is about a block east. In other words, you're where's it's at.
This is another of the popular condotel properties, making the Island Colony condos an investment opportunity to consider. The Studio & 1BR units are on the smaller side, making them more appropriate for the vacationer, rather than the long-term resident. You've got two choices if you do take the vacation condo route. You can rent it out yourself, but you'll be limited to stays of at least 30 days. Or you can put it into Aqua Hotels' pool, where they can book it for stays of even one night. You'll have to decide what is best for you.
There's more than location to attract visitors to the building and your condo. Though smaller, they do feature large lanais with views that include Diamond Head, the Koolau mountains and even the ocean from the higher floors. The presence of the Ala Wai Canal and the golf course also promise clear, unobstructed views for at least some time to come on the mauka side.
Buyers need to understand something, though. Some of the Island Colony condos were set aside as Lodging units at the time of its building. Those Lodging units may have some issues getting financing. You will need to determine if the property you're interested in is one of those, before you make any kind of offer. A mortgage professional should be able to tell you whether a unit is, or is not, a Lodging condo and what can be done from there.
Despite that, this is an affordable place to get into the investment property and vacation condo market. Its location, excellent amenities and a recent renovation of the common areas are enough to justify at least taking a good look.
The price range of condos for sale in Island Colony is $219K to $490K with a median price of $294K and median interior of 316sf.
The median price of condos sold in Island Colony year-to-date (2016) is $272K. In previous years it was $250K (2015), $239K (2014), $218K (2013), $200K (2012), $176K (2011), $171K (2010), $155K (2009), $185K (2008), $199K (2007), $188K (2006), $160K (2005), $128K (2004), $105K (2003).
43 condos have sold in Island Colony year-to-date (2016). In previous years, the total number of condos sold were 43 (2015), 38 (2014), 55 (2013), 33 (2012), 38 (2011), 42 (2010), 29 (2009), 41 (2008), 68 (2007), 75 (2006), 81 (2005), 80 (2004), 67 (2003).
On average Island Colony condos were on the market for 89 days before they were sold (2016). In previous years it was 96 days (2015), 77 days (2014), 70 days (2013), 85 days (2012), 41 days (2011), 69 days (2010), 82 days (2009), 92 days (2008), 103 days (2007), 63 days (2006), 56 days (2005), 57 days (2004), 59 days (2003).
The average days on market for Island Colony condos before sold was 97 days November 2016 compared to 65 days November 2015.
The ratio of Island Colony condos sales price vs list price was 96.0% November 2016 compared to 96.7% November 2015.
6 Island Colony condos were sold November 2016 compared to 3 condos sold November 2015.
The total dollar volume of condos currently for sale in Island Colony is $4.81M and the sold dollar volume year-to-date (2016) is $11.85M. In previous years sold dollar volume was $11.47M (2015), $9.62M (2014), $12.65M (2013), $12.33M (2012), $7.07M (2011), $7.27M (2010), $4.72M (2009), $8.1M (2008), $14.3M (2007), $15.05M (2006), $13.75M (2005), $11.02M (2004), $7.59M (2003).
The most recent sale in Island Colony was a condo located at #3621 , sold for $425K on Dec 02, 2016. It had 570sf of interior. 9 other recent sales include: #1221 (570sf) sold for $325K on 11/30/2016. #1115 (308sf) sold for $198K on 11/23/2016. #2812 (316sf) sold for $242K on 11/22/2016. #1410 (316sf) sold for $225K on 11/15/2016. #1907 (308sf) sold for $240K on 11/14/2016. #3216 (315sf) sold for $240K on 11/14/2016. #1503 (280sf) sold for $155K on 11/3/2016. #3210 (316sf) sold for $260K on 9/15/2016. #3205 (302sf) sold for $225K on 9/9/2016.
In Island Colony there is currently 14 fee simple and 2 leasehold units for sale. 9 of the condos have ocean views, 3 have Diamond Head views and 12 have mountain views.
There are 10 studio floor plans and 6 x 1 bedroom floor plans.
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on December 05, 2016. Information is deemed reliable but not guaranteed.