Potential Income Chart
We’ve compiled real nightly rates, average costs, and HOAs to empower investors to get a real glance at what legally-zoned vacation rentals can potentially earn when managed with care & for an affordable fee.
Use the tabs below to navigate through some of our favorite buildings! If you’d like to get started today, feel free to contact us or learn more about our short-term management services.
Aloha SurfAqua PalmsBamboo WaikikiHawaiian Monarch StudioIlikai HotelIsland ColonyKalakauanKuhio at WaikikiKuhio VillageLuana WaikikiRoyal AlohaWaikiki Grand
Aloha Surf Waikiki
444 Kanekapolei, Honolulu, HI 96815
Located on Kanekapolei St, right off of Ala Wai Blvd, the Aloha Surf Hotel (built in 1968, 15 floors) includes a pool, sundeck, grilling area, paid luggage storage, paid laundry, paid garage, elevator access and ATM. All units are hotel-style with complimentary wifi/cable and AC. This building is right off of Ala Wai Blvd, only a few minutes from Ala Wai Golf Course, a block from the newly built International Market Place and Dukes Lane, and two blocks to the famous Waikiki Beach.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Aqua Palms
1850 Ala Moana Blvd. Honolulu, HI 96815
Located on Ala Moana Blvd, only a short walk to the beach, the Aqua Palms Waikiki building (built in 1970, 15 stories) includes a plunge pool, grilling area, fitness room, sundeck, paid laundry, attached paid garage, elevator access and ATM. All units are hotel-style with complimentary wifi/cable and AC. In addition to the famous Waikiki beach, shopping, eateries, activities and nightlife, other nearby attractions include Ala Moana Beach Park, Ala Moana Center and Hawaii Convention Center.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Yearly Rate Set
Bamboo Waikiki
2425 Kuhio Ave. Honolulu, HI 96815
Located on Kuhio Ave, in the heart of Waikiki, the Bamboo Waikiki Hotel (built in 1968, 13 stories) includes a waterfall pool, spa and sundeck area enclosed in a Japanese-style garden. Additional amenities include grilling area, paid laundry, attached paid garage, elevator access and ATM. All units are hotel-style with complimentary wifi/cable and AC. This building is less than two blocks from the famous Waikiki Beach, shopping, eateries, activities and nightlife.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Yearly Rate Set
Hawaiian Monarch Studio
444 Niu St. Honolulu, HI 96815
Located on Niu St, at the beginning of Waikiki, the Hawaiian Monarch building (built in 1979, 43 stories) includes a spacious sundeck with grilling area, pool, and hot tub. Additional amenities include 24/7 security, attached paid garage, secured elevator access, paid fitness center, paid luggage storage, paid laundry, car rental, locally-owned coffee shop, bar, convenience store, restaurant and ATM. In addition to the famous Waikiki Beach, shopping, eateries, activities and nightlife, other nearby attractions include Ala Moana Beach Park, Ala Moana Center and Hawaii Convention center.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Yearly Rate Set
Ilikai Hotel
1777 Ala Moana Blvd. Honolulu, HI 96815
Located on Ala Moana Blvd, the Ilikai Hotel (built in 1964, 25 stories) is one of the most iconic buildings in Waikiki. Amenities include 24/7 security, two pools, sundeck, spa, fitness facilities, paid laundry, retail shops, restaurants, wifi throughout the hotel and paid parking behind the building. Nearby attractions include Duke Kahanamoku Lagoon and Beach, Ala Moana Beach Park, Ala Moana Center and Hawaii Convention Center. A short walk to the famous Waikiki strip, shopping, eateries, activities and nightlife.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Island Colony
445 Seaside Ave. Honolulu, HI 96815
Located on Seaside Ave, across from the newly built International Market Place and Dukes Lane, the Island Colony building (built in 1974, 44 stories) includes 24/7 security, secured lobby, a spacious sundeck, bbq area, fitness center, pool, hot tub, paid laundry, attached paid garage, elevator access and ATM. This building is steps away from Kuhio Ave and a short walk to the Royal Hawaiian Shopping Center and the famous Waikiki Beach.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Kalakauan
1911 Kalakaua Ave, Honolulu, HI 96815
Located on Kalakaua Ave, the Kalakauan Hotel (built in 1966, 6 stories) includes a secured lobby, paid laundry, attached parking garage and elevator access. This building is tucked away at the beginning of the Waikiki strip, a short stroll to Hilton Hawaiian Village, the famous Waikiki Beach, shopping, eateries, activities and nightlife. Other nearby attractions include Ala Moana Beach Park, Ala Moana Center and Hawaii Convention Center.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Yearly Rate Set
Kuhio at Waikiki
2465 Kuhio Ave, Honolulu, HI 96815
Located on Prince Edward St, the Kuhio at Waikiki building (built in 1971, 38 stories) includes secured entry, secured elevator access, paid laundry and two paid parking lots at the building next door. Right off of Kuhio Ave, nearby attractions include the newly built International Market Place and Dukes Lane, Kalakaua Ave, the Royal Hawaiian Shopping Center and the famous Waikiki Beach.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Yearly Rate Set
Kuhio Village
2463 Kuhio Ave. Honolulu, HI 96815
Located on Kuhio Ave, in the heart of Waikiki, the Kuhio Village building (built in 1975, 12 stories) includes security, secured elevator access, paid laundry, two paid parking lots at either entrance and secured elevator access. The building is currently renovating the lobby. Nearby attractions include the newly built International Market Place and Dukes Lane, Kalakaua Ave, the Royal Hawaiian Shopping Center and the famous Waikiki Beach.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Yearly Rate Set
Luana Waikiki
2045 Kalakaua Ave. Honolulu, HI 96815
Located on Kalakaua Ave, at the beginning of the Waikiki strip, the Luana Waikiki Hotel & Suites (built in 1971, 17 stories) includes the first-floor sundeck, pool, spa, fitness center and lounge area. All units are hotel-style with complimentary wifi/cable and AC.Additional amenities include paid laundry, paid valet parking, elevator access and ATM. In addition to the famous Waikiki beach, shopping, eateries, activities and nightlife, other nearby attractions include Ala Moana Beach Park, Ala Moana Center and Hawaii Convention Center.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Yearly Rate Set
Royal Aloha
1909 Ala Wai Blvd, Honolulu, HI 96815
Located on Ala Wai Blvd, at the beginning of Waikiki, the Royal Aloha building (built in 1971, 16 stories) includes a pool, grilling area and sundeck. Additional amenities include secured entry, security, secured elevator access and paid laundry. In addition to the famous Waikiki Beach, shopping, eateries, activities and nightlife, other nearby attractions include Ala Moana Beach Park, Ala Moana Center and Hawaii Convention Center.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Yearly Rate Set
Waikiki Grand
134 Kapahulu Ave, Honolulu, HI 96815
Located on Kapahulu Ave,on the Diamond Head side of Waikiki, the Waikiki Grand Hotel (built in 1963, 10 stories) includes security, pool, sundeck, bar/lounge, restaurants, wifi, paid parking, elevator access and ATM. The hotel is located right across the street from the Honolulu Zoo and only a block from the famous Waikiki Beach. Other nearby attractions include Kapiolani Park, as well as Waikiki’s world-class shopping, eateries, entertainment and activities.
**Average nightly rates are calculated from actual nightly rates for a range of units currently advertised on various vacation rental platforms. The average rate shown is in no way a guarantee, as nightly rates vary by unit, layout, view, amenities and more. These numbers are only to be used as a potential example and estimate.*
**Novation Realty is not an investment firm. Please consult your financial advisor of choice to confirm CAP rates and investment decisions.**
Waikiki Summary of Taxes for Vacation Rentals
GET (General Excise Tax) 4.5%
TAT (Transient Accommodations Tax) 10.25%
OTAT (Oahu Transient Accommodations Tax) 3%
Note: All taxes above are charged seperately to the guest on each reservation.
The current taxes charged by the City & County of Honolulu are GET (General Excise Tax), TAT (Transient Accommodations Tax) and OTAT (Oahu Transient Accommodations Tax), to the best of our knowledge. Please visit the tax website and/or contact the local tax office here: Department of Taxation | State of Hawaii
Waikiki Preferred Contractors for Vacation Rental Investing
Property Purchase & Sale: Contact us for our preferred sales agents at 808-225-4687
Lending: Mark James, Finance Factors, [email protected] | Erein Trawick, Pineapple Mortgage, [email protected]
Insurance: Chris Daraban, Finance Insurance Ltd, [email protected]
*Please note that these are separate vendors not employed by or affiliated with Novation Realty. They are provided as a suggestion, but we encourage clients to use the representatives of their choice and that fit their needs.
Waikiki Vacation Rental Legal Rules and Regulations
Honolulu City & County is unique in that legal short-term rentals (STRs) have long been included, allowed and considered in select areas and buildings. Ensuring your property can legally conduct STRs is paramount to avoiding the excessive fees and penalties of illegal rentals, and in caring for and protecting our local non-resort/hotel communities.
Current ordinances require legal STRs to be properly zoned and/or have an NCUC*, pay the additional TAT & OTAT taxes, and pay the increased property tax. In addition, properties may be subject to Bill 41/Ordinance 22-7’s registration requirements, which applies to most resort mixed-use properties in the Waikiki Special District.
Novation Realty is happy to assist owners in answering questions and navigating the Bill 41/Ordinance 22-7 registration process to the best of our ability. Please note that we are not the authority on the legality of Honolulu County properties. Please visit and/or contact the Department of Planning & Permitting’s Short-Term Rental division here: Short-Term Rentals (honolulu.gov) **Non-Conforming Use Certificate
Occupancy Rates Comparison
Occupancy rates pulled from Hawaii Department of Business, Economic Development & Tourism’s monthly reporting found here: Visitor Statistics | Vacation Rental Performance
Occupancy rates for Novation Realty pulled from management/pricing software. Kindly note that Novation Realty does not guarantee occupancy rates, and individual occupancy is dependent on location, pricing, amenities, and many other individual factors. This chart is designed for reference only.
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