COURTESY OF EARL HULSE
The Kuhio Village Resort is selling studios ranging from 155 square feet to 433 square feet. This unit features two twin beds.
Waikiki hotel rooms
up for sale as condosRealtors say these studio
apartments are expected
to sell quickly
Real estate marketers are fond of terms like "cozy," but a new batch of offerings in Waikiki may be stretching the term. Nonetheless, the studio apartments going on sale today are expected to sell, and quickly.
CORRECTION
Wednesday, Sept. 24, 2003>> Real estate firm Coldwell Banker Pacific Properties will begin selling 166 condominium units at the Kuhio Village Resort Saturday. A story on Page A1 last Saturday incorrectly said sales would begin that day.
The Honolulu Star-Bulletin strives to make its news report fair and accurate. If you have a question or comment about news coverage, call Editor Frank Bridgewater at 529-4791 or email him at fbridgewater@starbulletin.com.
Real estate firm Coldwell Banker Pacific Properties is selling 166 units at the 210-room Kuhio Village Resort in Waikiki for owner Continental Surf LLC, an investment group.
Earl Hulse, Realtor for the project at 2463 Kuhio Ave., said the property has hotel zoning, so units could be rented on a short- or long-term basis. The studios have 13 different floor plans and range in size from 155 to 433 square feet of interior space with lanai sizes ranging from 37 to 138 square feet.
Prices for leasehold units start at $40,000. Fee-simple units start at $50,000.
With the continuing strong real estate market, Hulse said the units should move quickly.
Real estate analyst Stephany Sofos agreed, adding she expects the units will appeal to first-home buyers and investors.
"While it's small, it's an opportunity for people to own a home in Hawaii. They have an opportunity to get in and buy rather than rent," she said.
The units would also be attractive to investors, she said.
"A lot of these people could be buying a time share, and all they get is two weeks. Now you get your own home, or you could put it into a hotel pool," Sofos said.
All units include air conditioning, a television with cable hookup, refrigerator, microwave oven, coffee maker, full bathtub and shower, and king-size bed or two twin beds.
Monthly maintenance fees for the units include electricity and run around $200 per month, Coldwell Banker's Hulse said. The property is about 1 1/2 blocks from Waikiki Beach.
The building has a 24-hour front desk, laundry facilities and security.
