Nicely renovated studio in Waikiki

                                                                                                               All photos courtesy of Prudential Locations

A friend of mine, who lives in London, has been mulling over the idea of buying a condo here on Oahu for a while now. He’s just started to browse through listings, mostly in Waikiki, to find something that piques his interest. Since he’d be using the place as a vacation getaway, he wants to buy something as an investment property that would be easily rentable.

He recently emailed me a listing in a great location right on the beach with a gorgeous view, but I questioned its high maintenance fee (more than $1,500 a month, no amenities) and the fact it has been on the market for nine months. I also advised him to consider the fact the building is leasehold (the lease is due to expire in 12 years, which can cause issues if you need financing).

While I’m not saying those facts should immediately sending you running, it should make you inquire further about exactly what you’re getting into and whether it’s the right fit.

When this property at the Four Paddle condominium in Waikiki came across my desk, I thought this was more the kind of place he should consider. Click here for details.

Completely remodeled last year, this 460-square-foot studio is cozy, but perfect for a single person or as an investment property. It has terrific rental potential; I found another studio in the building being offered for $150 a night ($165 a night in winter months).

During the renovation, top-of-the-line fixtures and appliances including a Sub Zero refrigerator and convection oven were installed, along with Carrara marble countertops in the kitchen and bathroom.

When it comes to the weather, the bright space offers the best of both worlds – an open lanai where you can sit and enjoy the island breezes and central A/C for those hot, sticky days.

The building, which is pet friendly, features a pool, BBQ and communal deck area.  The maintenance fee ($600 a month) includes the central A/C, cable TV, hot water, sewer, and, wait for it, electricity.

Another notable perk when living right in the heart of Waikiki: Parking. One covered parking stall is included in the price and there are stalls available for guests.

Money talk:  $359,900 fee simple
Contact: Bernie Tong, Prudential Locations LLC, 808-306-0430,
MLS#:  1212803