Hawaiian Inn Resort. Market Snapshot. Daytona Beach Shores. March 2012

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Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

Hawaiian Inn Resort. Market Snapshot. Daytona Beach Shores. March 2012

Hawaiian Inn Resort is a popular resort in Daytona Beach Shores. It has been converted to condo-hotel a decade ago and since then enjoyed popularity among both owners and guests.

Hawaiian Inn in Daytona Beach Shores

The resort has undergone massive renovation in the last 3 years. Concrete restoration has been completed. The sliding doors, which were not included in the Assessment and were the responsibility of owner, have been installed, and it is a fully functional condo-hotel at this time.

Maintenance fee is for now same $450 a month. It can be changed after the Assocation decides on reserves. No pets policy. WiFi available in all rooms and in the lobby.

The resort had a series of pricy Special Assessments to complete the project, and I am sure owners are breathing much easier now, after it is finally all paid.

Hawaiian Inn in Daytona Beach Shores

And it is showing in the prices. In February 2009 there were 34 units for sale in Hawaiian Inn Resort starting from $29K for a small unit without a balcony.

Now, 3 years later we only have 13 units for sale with prices starting from $30K (only one unit at this price, and then next is in the $60s and up).

Hawaiian Inn in Daytona Beach Shores

This is an excellent demonstration of a trend. While you can still find low priced properties, the inventory is only about 40% of what it was at the peak of the real estate flood. And low inventory mean that there will be more competition with fewer units to sell.

Which means prices will go up, even if a famous cable network will tell you the opposite. Just check the asking prices in Hawaiian Inn today with what the units were selling for last year, and you will see it with your own eyes.

photo of Jon ZolskyOf course, if you can read the investment language. 

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Ambassador
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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

I like these combination condo/hotels Jon. People can get a feel for the building and decide if they want to move in at a later date. Great presentation.

Feb 29, 2012 06:32 AM #1
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Gary - these are vacation properties. You wouldn't really want to live n a hotel... But to have a piece right on the ocean for this low money is incredible opportunity and people just do not get it

Feb 29, 2012 08:06 AM #2
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Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Jon

Sounds like a fun place. Sounds like a great deal as well. Lars says woof.

Feb 29, 2012 10:04 AM #3
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Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
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Tom - Lars knows when there is a deal. Thanks

Mar 02, 2012 09:14 AM #4
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