Property Q&A in Waikiki>Question Details

Andrea Haines, Home Buyer in New York, NY

When does the leasehold expire on 1860 Ala Moana??

Asked by Andrea Haines, New York, NY Mon Nov 26, 2012

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This question was asked from this property: http://www.trulia.com/homes/Hawaii/Honolulu/sold/1000067757-…

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Answers

5
Andrea,
I currently own one of the Penthouse units at the Wailana at Waikiki.
As mentioned in the other answers, the lease ends in 2039 and will renegotiate in 2019.
We just had the maintenance fee lowered thanks to separate metering of the electricity. The building is well maintained and the location is fantastic. The interior of the units is well designed and more spacious than most buildings in Waikiki.
0 votes Thank Flag Link Thu Nov 29, 2012
As other Realtors have told you the lease expires in 2039, and the lease rent renegotiates in 2019. You cannot get a mortgage loan for a period of more than ten years less than the period left on the lease - in this case 17 years..
This apartment is sold but the building is in a very convenient area with a great view over Fort DeRussy but it is also on Ala Moana boulevard across from the Hilton Hawaiian village. So there is a lot of traffic noise Behind this building is a residential high rise area with several other attractive buildings - some leasehold and some fee simple. It is an area worth looking at..
What attracted you to this building and this unit? Location, price, view, size?. If you are interested in the general location, I can give you information on some of the buildings in the area.
As you know property prices in Honolulu area are high, though less than Manhattan. I moved here from Manhattan 26 years ago, where I owned property on upper Bleecker St. So buying here wasn't too much of a push!!
I am a Buyer's Realtor and, if I can guide you, I will be happy to do so. I have been licensed here since 1987.
Donald Munro, Realtor, GRI, ABR, e-Pro
http://www.realmunro.com, donm@lava.net
0 votes Thank Flag Link Mon Nov 26, 2012
Lease expires 11/30/1939 for the leasehold units in this building.
Renegotiates 12/1/2019 and 12/1/2029


Ellen Hl.Hiromoto (R) CRS, GRI
(808) 255-2015
ellen.hiromoto@pruhawaii.com
0 votes Thank Flag Link Mon Nov 26, 2012
Curr Mon Lease Rent: $626 / 2019 (varies up to $776 depending on the apartment)
Reneg Date: 12/1/2019
2nd Step-Up Mon Rent: $ / Lse Expires: 11/30/2039

Maint fees are approx $900 to $1200/month

Frank Diaz
(RA) MBA, e-PRO, REALTOR®
East Oahu Realty
808.723.0900 cell
\http://hawaiihome.biz/
0 votes Thank Flag Link Mon Nov 26, 2012
11-30-2039

If you need anymore information on the Wailana property, please contact me at 808-255-2400 or by email at kimo@sandislehawaii.com
0 votes Thank Flag Link Mon Nov 26, 2012
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