Updates Developer is reportedly working with Luxury Row owner to come up with a solution for the noisy fan in the roof of Luxury Row. Ritz-Carlton Waikiki West Tower (1st tower) opened to most owners June 2016 and the hotel opened to the public July 2016. Ritz-Carlton Waikiki West Tower - the larger tower - recorded on most units February 2016. The East Tower's foundation is currently being built and expected completion summer 2018 (2nd tower).
Background Originally, the developer planned to built just the Ritz-Carlton Waikiki West Tower, but due to the great demand decided to built a 2nd tower (East Tower) as well. This meant these were 2 seperate condo projects, with its own independent public reports etc, which the developer later merged to make the 2 towers part of the same one condominium property regime.
Availability Just a few developer units remain available in the East Tower: Studios from $1M+ to 3BR at $4M+.
Good to Know About Ritz-Carlton Waikiki Pets allowed (verify). All units face ocean, except some corner units. Both towers will be 350ft tall - 2nd tower slimmer. Flooring: Oak wood. Kitchen: Miele appliances, walnut kitchen cabinetry and marble countertops. Developer: Irongate – same developer of Trump Tower Waikiki. Maintenance Fees: $1.60 / sqf (expected to be closer to $1.3 / sqf once the East Tower is completed). Electricity is a separate charge. 90%+ of owners are cash buyers (estimate). Ceiling height: Deluxe & Grand Levels = 8ft 4inches, Premier Levels = 9ft, Penthouse Levels (37-38F) = 19ft (for some units). Parking: Located on 3F to 6F. There are no assigned parking stalls for any of the units. However, tenants can rent a stall during their stay and owners can use parking for free during their stays.
Amenities 2 swimming pools (8F): 74ft lap pool (west tower) and a family oriented pool (east tower - not completed yet) Spa (west tower): Managed by Ritz-Carlton. Fitness / Gym (west tower) Kid’s launch (west tower) Media Room (west tower) 3 Restaurants: Famous Sushi Sho from Yotsuya, Tokyo, a BLT & 1 more restaurant. Dean & Deluca coffee shop (west tower - opening Sept 13). Grocery Store (east tower - not open yet)
Rental Related Owners are allowed to: a) run as a vacation rental unit (via Ritz’ vacation rental program or one of the vacation rental agencies on Ritz’ preferred vendor list), b) use unit as owner occupant, 3) rent out to long-term tenants (if lease is 1 year or more, owner is allowed to use any 3rd party rental agency).
Studio & 1BR: Almost all units are in the hotel rental program (estimate). 2BR: 70%+ in hotel rental program (estimate). 3BR: 35% in hotel rental program (estimate).
Penthouses at Ritz-Carlton Waikiki Located on the 37F to 38F in 2BR to 4BR configuration with about 2,000sqf to 5,500sqf interior. Most penthouse units have a rooftop wooden deck with Jacuzzi, plunge pool & BBQ. Pricing is roughly in the $7M – $24M range. Contact Kristian for floor plans & more details.
Floor Plans, East Tower (Tower 2) Deluxe Level: 10F – 25F, studio to 1BR configurations.
Grand Level: 26F, studio to 2BR configurations.
Grand Level: 28F – 33F, 1BR to 3BR configurations.
Disclaimer: The above includes graphical renderings, which should not be relied upon in deciding to purchase a condo. This is not intended to be an offer to sell nor a solicitation of offers to buy real estate.
The Ritz-Carlton Residences Condos - Trends & Statistics
The price range of condos for sale in The Ritz-Carlton Residences is $800K to $8.28M with a median price of $1.72M and median interior of 818sf.
The median price of condos sold in The Ritz-Carlton Residences year-to-date (Jan - Jul 21, 2017) is $1.4M. In previous years it was $1.1M (2016).
8 condos have sold in The Ritz-Carlton Residences year-to-date (Jan - Jul 21, 2017). In previous years, the total number of condos sold were 18 (2016).
On average The Ritz-Carlton Residences condos were on the market for 120 days before they were sold (Jan - Jul 21, 2017). In previous years it was 60 days (2016).
The ratio of The Ritz-Carlton Residences condos sales price vs list price was 97.8% June 2017 compared to 97.5% June 2016.
1 The Ritz-Carlton Residences condo was sold June 2017 compared to 1 condo sold June 2016.
The total dollar volume of condos currently for sale in The Ritz-Carlton Residences is $94.98M and the sold dollar volume year-to-date (Jan - Jul 21, 2017) is $13.64M. In previous years sold dollar volume was $24.8M (2016).
The most recent sale in The Ritz-Carlton Residences was a condo located at #2210 , sold for $1.35M on Jun 23, 2017. It had 665sf of interior. 9 other recent sales include: #2012 (400sf) sold for $864K on 4/18/2017. #1615 (757sf) sold for $1.45M on 3/20/2017. # (501sf) sold for $897K on 2/16/2017. #3606 (1,263sf) sold for $3.34M on 2/6/2017. #902 (1,120sf) sold for $1.62M on 1/20/2017. #3603 (1,418sf) sold for $3.3M on 1/3/2017. #1812 (400sf) sold for $810K on 1/3/2017. #1810 (667sf) sold for $1.29M on 12/27/2016. #2309 (813sf) sold for $1.65M on 12/5/2016.
In The Ritz-Carlton Residences there is currently 42 fee simple units for sale. 42 of the condos have ocean views, 5 have Diamond Head views and 7 have mountain views.
There are 12 studio floor plans, 11 x 1 bedroom floor plans, 10 x 2 bedroom floor plans, 8 x 3 bedroom floor plans and 1 x 4 bedroom floor plan.