Built in 1970, 12 Floors with 269 Units, Studio – 1 BR Floor plans, Pets: No.
Amenities include: Pool, Sun Deck, Exercise Room, Restaurant, Community Laundry, Concierge.
This condotel managed by Aqua Hotels has great amenities and a high occupancy rate, making a purchase here a worry-free investment or a perfect weekend/vacation getaway.
About Palms at Waikiki
This is a popular boutique condotel on the Ala Moana end of Waikiki. An extensive remodel in 2005 completely modernized the units and gave the Palms at Waikiki a contemporary look and feel. The lobby and rental rooms are managed by Aqua Hotels and residents enjoy resort living and amenities. Primarily featuring studios with some 1 BR units, and located just a short walk from the beach at Duke Kahanamoku Lagoon, these condos make an excellent investment or vacation property – or use it as both!
Residents and hotel guests can soak up the sun at the pool or on the sun deck, work off some energy in the exercise room, or enjoy a meal at the restaurant on property. There is also a concierge, community laundry facilities, and shuttle stop right in front of the building for your convenience.
These condos are on the smaller side, ideal for vacation stays. Studios are in the 250-370 sq ft range, while the 1 BR units measure between 550 and 750 sq ft. All units feature A/C and a lanai, with a mix of ocean, Fort DeRussy Beach Park, Diamond Head and city views. Condos on the Diamond Head side of the building are slightly larger than those on the mountain side, and feature larger, usable lanais as well. Only the 1 BR units include a full kitchen.
Palms at Waikiki condos are all Fee Simple and well-maintained. Units that are part of the hotel rental pool are often sold with all furniture, and are ready to be rented immediately. Many units come with an assigned parking stall in the covered garage, and some even come with 2 stalls. The parking garage is secure and requires a passkey for entry.
With the Hilton Hawaiian Village and Friday night fireworks right down the road, Ala Moana Center a couple blocks away and Waikiki at your fingertips, this popular, well-managed building is an excellent way to get your feet wet in Waikiki real estate.
The price range of condos for sale in Palms At Waikiki is $188K to $310K with a median price of $258K and median interior of 290sf.
The median price of condos sold in Palms At Waikiki year-to-date (Jan 24, 2017) is $410K. In previous years it was $237K (2016), $213K (2015), $182K (2014), $189K (2013), $149K (2012), $127K (2011), $135K (2010), $135K (2009), $208K (2008), $195K (2007), $190K (2006), $178K (2005).
1 condo has sold in Palms At Waikiki year-to-date (Jan 24, 2017). In previous years, the total number of condos sold were 10 (2016), 12 (2015), 23 (2014), 16 (2013), 14 (2012), 14 (2011), 13 (2010), 8 (2009), 11 (2008), 15 (2007), 49 (2006), 198 (2005).
On average Palms At Waikiki condos were on the market for 17 days before they were sold (Jan 24, 2017). In previous years it was 195 days (2016), 86 days (2015), 81 days (2014), 57 days (2013), 68 days (2012), 125 days (2011), 97 days (2010), 107 days (2009), 131 days (2008), 78 days (2007), 37 days (2006), 2 days (2005).
The average days on market for Palms At Waikiki condos before sold was 146 days December 2016 compared to 67 days December 2015.
The ratio of Palms At Waikiki condos sales price vs list price was 96.5% December 2016 compared to 97.5% December 2015.
3 Palms At Waikiki condos were sold December 2016 compared to 2 condos sold December 2015.
The total dollar volume of condos currently for sale in Palms At Waikiki is $1.48M and the sold dollar volume year-to-date (Jan 24, 2017) is $410K. In previous years sold dollar volume was $2.55M (2016), $2.85M (2015), $4.3M (2014), $3.24M (2013), $2.15M (2012), $1.79M (2011), $2.03M (2010), $1.14M (2009), $2.14M (2008), $3.41M (2007), $9.34M (2006), $36.32M (2005).
The most recent sale in Palms At Waikiki was a condo located at #1204 , sold for $410K on Jan 11, 2017. It had 466sf of interior. 9 other recent sales include: #303 (226sf) sold for $194K on 12/29/2016. #320 (291sf) sold for $230K on 12/28/2016. #518 (312sf) sold for $245K on 12/19/2016. #1205 (648sf) sold for $439K on 9/30/2016. #427 (271sf) sold for $197K on 9/23/2016. #825 (271sf) sold for $235K on 9/23/2016. #604 (309sf) sold for $280K on 8/8/2016. #902 (360sf) sold for $240K on 8/5/2016. #410 (323sf) sold for $273K on 8/4/2016.
In Palms At Waikiki there is currently 6 fee simple units for sale. 2 of the condos have ocean views, 2 have Diamond Head views and 2 have mountain views.