In Waikiki, there are condos that are also known as ‘Condotel’. In short, these are hotel units that are owned by individual owners. Owners of a condotel can stay in the units or put it in the hotel rental pool and let hotel manage the unit rental. Unit size varies but they are usually typical of those you’ll find in an average hotel room. As one might expect, the typical amenities of a condotel unit consists of a mini-fridge, sink, microwave, no parking stall, etc. Since there’s no full-kitchen within the condotel units, mortgage financing is limited and no fixed rate mortgage is currently being offered. Due to its low investment threshold (a typical unit usually starts at about high $100k), it is highly desirable for those seasoned and 1st-time investors.
(Income statements and hotel info are available for review upon request)
This content is presented for informational purposes only and the information is deemed reliable but accuracy not guaranteed. It is not my intention to provide any legal, financial, and business advice. For specific information, please consult a qualified advisor.