Investor · Boston, MA · Member since 2017 · 42 posts · 13 votes
Hi dear investors,
I am looking to network with lenders and investors who are into condohotel in Waikiki, Oahu. My husband family have lived in Oahu for several generations now. We are a military family currently stationed in Boston where we currently invest. My husband is soon to separate from the Air Force and we are planning to create a lifestyle where we could work remote from anywhere. We want our kids to be able to be close to our families, so ideally, we visit Oahu a few months every year.
I spoke with a few realtors and it seems like the best investment would be the condo hotel as they are legal Airbnb/STR. I am also willing to do MTR.
We want to connect with investors who bought condohotel and learn about their experience and if they are good investments.
We are currently in Honolulu, Oahu. Could grab a coffee if anyone is here to connect :)
Real Estate Broker · Kaneohe, HI · Member since 2020 · 193 posts · 163 votes
3y
Hi @Elena C. - I work with many vacation rental investors and know one you would likely be happy to chat with you. Please message me directly and I'll send you his contact info.
I have a note on my Condotel in Florida. I've had it almost 2 years. I had to put 20% down and I bought it using personal credit. If prices ever cool I will buy another with a DSCR loan no doubt.
Waikiki. Maybe there's something there that I'm not seeing, but me no like. I would think most investors are trying to get out of there. Who goes there? it's quite depressing I think. Kailua mo' bettah.
Rental Property Investor · Honolulu, HI · Member since 2020 · 8 posts · 5 votes
1y
Hi @Elena C., if you're still looking for info I'd be happy to talk and share my experience with you. I own 2 STR units in condotel buildings in Waikiki, both are doing very well. One purchased in 2023 and one in 2024, both were rehab projects. One was conventional financing and the other was a portfolio loan from a local bank here in Hawaii, I also did a lot of research into DSCR loans during my search.
I'm also an agent here on Oahu but focus mainly on Property Management, at the brokerage we manage roughly 50 units that are a mix of STR, MTR, and LTR's.