Open House Pick Of The Week: Kapiolani

Inventory is still pretty tight, especially in metro Honolulu, unless you want to pay for it. This new listing, however, caught my eye: it’s large, centrally located, and has an unusually good price for a townie pad.

OK, the real reason this 1,147-sqare-foot Royal Iolani condo unit is just $450,000: It’s leasehold. If that works for you, it's a great deal for that size and location. (By comparison, my own unit is half the size and would probably sell for about the same price.) If the leasehold tenure is a problem, the fee is available for $362,560.

The unit has two bedrooms, two bathrooms, huge lanais totaling more than 300 square feet, and views of Diamond Head, the golf course, Waikiki and the ocean (sort of), all of which are pretty good since the place is on the 32nd floor. The kitchen and baths have been renovated and—important for condo dwellers—you get central air conditioning and storage.

You also get one parking stall. The building’s other amenities include a barbecue area, exercise room, heated pool, recreation area, sauna, whirlpool and security. And, bonus, it’s pet-friendly.

This listing has been on the market just three days and will have its first open house this Sunday. Click here for more details.

Happy house hunting!

Money talk: $450,000 leasehold
Contact: Tracy Yamato, Coldwell Banker Pacific Properties, 808-372-2274,
MLS#: 201402001