Built in 1977, 876 Units and 2 37-Floor Towers, 1 BR Floor Plans,, Pets: OK (verify).
Amenities include: Pool, Whirlpool, Sauna, BBQ Area, Tennis Court, Putting Green, Children’s Playground, Community Laundry, Coffee Shop and 24-Hour Security Guard.
The units in this popular condominium hotel can be rented out daily and the rental program here makes it easy for owners to take advantage of this opportunity.
About Waikiki Banyan The Waikiki Banyan condo is a large, two tower condotel, located at the Diamond Head end of Waikiki off of Kuhio Avenue. Managed by Aston Hotels, all of these 1 BR, 1 bath units can be rented on a daily basis, making the Waikiki Banyan a great investment opportunity. For resident and renter convenience, front desk staff and a security guard are on duty at all times, and there is a Resident Manager as well.
The Waikiki Banyan condos are moderately-sized units (500 – 600 sq ft) that feature a 60 – 70 sq ft lanai, and all come with a full kitchen, window A/C, and an unassigned parking stall. Most units are completely Fee Simple, but there are some with a sandwich lease remaining and some full Leasehold units with lease expiring in 2035. Tower 1, the makai (ocean) tower, is positioned perpendicular to the ocean, while Tower 2, the mauka (mountain) tower, runs parallel to the ocean. Views depend on the tower and unit but may include the ocean, mountains, Waikiki coastline and Diamond Head. Many units have been fully or partially renovated, and some of the units being rented daily include all of the furnishings. The low maintenance fee includes all utilities.
There is a fully stocked recreation deck on the 6th floor with enough options to keep you entertained day and night. A BBQ and patio area, pool, whirlpool and sauna, snack bar, tennis court, putting green and playground offer adults, children and families a number of ways to have fun or relax. Community laundry on site and a food pantry offer easy access to daily essentials, whether you’re on vacation or in the middle of your weekly routine. The Waikiki Banyan is also walking distance to the Honolulu Zoo, Kapiolani Park, Ala Wai Golf Course and Queen’s Beach, so residents can get out and enjoy Hawaii’s great weather and beauty easily. Come see it to believe it!
The price range of condos for sale in Waikiki Banyan is $320K to $550K with a median price of $520K and median interior of 533sf.
The median price of condos sold in Waikiki Banyan year-to-date (Jan - Apr 25, 2017) is $510K. In previous years it was $495K (2016), $466K (2015), $440K (2014), $408K (2013), $380K (2012), $385K (2011), $337K (2010), $310K (2009), $302K (2008), $285K (2007), $285K (2006), $250K (2005), $226K (2004), $175K (2003).
8 condos have sold in Waikiki Banyan year-to-date (Jan - Apr 25, 2017). In previous years, the total number of condos sold were 44 (2016), 26 (2015), 21 (2014), 26 (2013), 35 (2012), 21 (2011), 32 (2010), 24 (2009), 45 (2008), 41 (2007), 43 (2006), 55 (2005), 45 (2004), 63 (2003).
On average Waikiki Banyan condos were on the market for 32 days before they were sold (Jan - Apr 25, 2017). In previous years it was 102 days (2016), 134 days (2015), 80 days (2014), 65 days (2013), 57 days (2012), 34 days (2011), 86 days (2010), 99 days (2009), 79 days (2008), 67 days (2007), 91 days (2006), 94 days (2005), 69 days (2004), 67 days (2003).
The average days on market for Waikiki Banyan condos before sold was 35 days March 2017 compared to 80 days March 2016.
The ratio of Waikiki Banyan condos sales price vs list price was 99.6% March 2017 compared to 98.0% March 2016.
5 Waikiki Banyan condos were sold March 2017 compared to 2 condos sold March 2016.
The total dollar volume of condos currently for sale in Waikiki Banyan is $2.3M and the sold dollar volume year-to-date (Jan - Apr 25, 2017) is $3.74M. In previous years sold dollar volume was $21.52M (2016), $11.95M (2015), $9M (2014), $10.46M (2013), $13.49M (2012), $7.58M (2011), $10.31M (2010), $7.23M (2009), $13.5M (2008), $12.28M (2007), $12.35M (2006), $14.11M (2005), $10.22M (2004), $11.62M (2003).
The most recent sale in Waikiki Banyan was a condo located at #3104 , sold for $535K on Mar 16, 2017. It had 557sf of interior. 9 other recent sales include: #1702 T1 (533sf) sold for $500K on 3/15/2017. #3507 (533sf) sold for $555K on 3/13/2017. #1708 (533sf) sold for $495K on 3/10/2017. #Makai/1703 (533sf) sold for $520K on 3/6/2017. #I-2702 (533sf) sold for $520K on 2/2/2017. #2213 (594sf) sold for $330K on 1/18/2017. #1905 (557sf) sold for $292K on 1/17/2017. #T-1 3508 (533sf) sold for $580K on 12/2/2016. #T1-706 (582sf) sold for $482K on 11/30/2016.
In Waikiki Banyan there is currently 3 fee simple and 2 leasehold units for sale. 2 of the condos have ocean views, 3 have Diamond Head views and 4 have mountain views.