STVR - Waikiki or Maui?

29 Replies

@Peter Jetson , you’re looking in the wrong areas entirely, imo.

My STRs in Hawaii average 18-20% CoC roi. I'm in escrow schedule to close on the 14th for one that'll hit 22%. There are a few that are currently for sale that will get you close to 20% if you self manage, or a little less if you pay someone like me 15-20% to manage it on your behalf. This is what I do professionally and manage multiple units for friends, family and a few others.

Send me a PM if you’d like to chat. 


I am operating few STR and LTR in Waikiki for years. First, buying or operating a STR in Waikiki is not as simple as it may appear. You have to understand what constitutes a "legal" vacation rental. In my personal assessment, a good majority of STR in Waikiki are not lawful. If you want to be fully satisfied, then you have to look at properties that come with "nonconforming use certificate" which city had stopped issuing since 1989. In other words these are the properties that can legally operate a STR. In addition to this group, another group of properties which fall under "X-6 Resort…" zoning would be the second best option as they are also entitled to operate STR. There is also difference between "short term rentals – min 30 days" and "short term rentals – daily rentals", as it make difference over the revenues or how you envision to run your STR.

The point I am trying to make is that ROI or other ratios/averages may not be the only items you want to look while looking for investment property in Waikiki. Additionally, there are other aspects that you may want to look at, such as vacation rental tax bill that will have implication on how STR will be governed in Honolulu County.