More than anything, I am asked for Waikiki condos that can be used as vacation rental properties for most of the year, and then made available to the owners during their yearly vacation time in Hawaii.
Even with a median condo selling price of $307,000 - it is still possible to find quality properties, priced at or under $200,000, with great amenities and that can provide a little cash each month for the owners; after all of the leasing expenses and tax have been deducted.
Vacation rentals are considered any property that lease for 29 days or lease - and is usually a nightly or weekly rental.
Finding a well maintained property, with strong association financials, and a desirable location is the key to any investment - the link below offers some of favorite properties including the Luana Waikiki, Waikiki Grand, Aqua Palms and the boutique 'Bamboo'
Waikiki Investment Condos Under $200,000 - Link Here
Of course there no guarantee of future earnings on any property, however most often there are Income Statements for the previous 12 months that will provide a good historical idea of any expected income, and the expenses associated with the property.
Waikiki Investment Condos Under $200,000 - Link Here
Palms At Waikiki - 1850 Ala Moana Blvd: Hotel Pool 50/50; Owner Can Live 100% Of Time In Unit, 2009 Hotel Occ 96%, Room Rates $69 to $149/day. Owner Rental Average $800/mo. Owner Occ Is 5-10% As Of 12/30/2010.
Bamboo - 2425 Kuhio Ave: A classy boutique condo centrally located in Waikiki near bus stops, beaches, shops, restaurants, attractions. Recently tastefully renovated with high-end appliances and furnishings. Excellently managed with friendly 24-hour staff and concierge. Voted TOP 10 hotels in Waikiki for business travelers. Live in your unit or place it in the hotel pool.
Waikiki Banyan - 201 Ohua Ave: Nicely upgraded Fee Simple condo with parking in Waikiki. Awesome building with fantastic amenities which include Pool, BBQ, Sauna, hot tubs, Tennis, Putting Green, Coffee Shop, Mini Mart.
Waikiki Grand - 134 Kapahulu Ave: Live or rent all year long. Good investment, put in rental pool or manage your own. Maintenance includes all utilities and internet. PET FRIENDLY! Fully Furnished and Ready to move in!

"Don't forget about our special Buyer Rebate Program that we offer - which is 30% of our commission is paid back to you the Buyer, as a rebate - in other words if you purchase a property for $500,000 you would receive $4,500.00 back to use for your closing costs, new carpet or paint, furniture or anything you like even cash if your lender approves"
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Hawaiian Americana Realty, Inc | Mark Howard – Owner/ Broker/Founder – RB 20384
1888 Kalakaua Ave., C312
Honolulu, HI 96815
Phone 808-791-2923