Today we are going to delve deep into some numbers. I checked out the property and I really like the Aloha Surf Hotel. Centrally located in Waikiki this property has constantly high occupancy throughout the year.
The analysed unit is priced above what others have sold and currently listed at $218k
In order to get to a roughly 5% Cash on Cash ROI you'd have to put down $180k which is closer to the sales price of some similar units in the last 6 months.
Remember, Honolulu is not necessary a cash flow property market but certainly makes up for it due to its historically stable and high property value appreciation. Condos alone have gone up in value by roughly 15% compared to last year.
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