The Waikiki Landmark is a highrise condominium in Honolulu, Hawaii that has been an architectural spectical for nearly 20 years now. The building can be seen from miles away.
Over the course of the last real estate cycle, values have increased as the fee simple interest became available to homeowners. The penthouses at the top are something else... They used to have great views of the ocean, however once the Allure Waikiki was built across the street, some of those views are now obstructed.
Although one could argue the value of the Waikiki Landmark condos have gone down since the addition of the Allure, I beg to differ. Since the Allure is a luxury building that replaced low rise apartment buildings and a nightclub that stayed open until 4 AM (which I've been to many times), I feel the area has been "regentrified".
Over the past year, there have been 11 sales at the Waikiki Landmark in Honolulu. 9 of the 11 were fee simple (2 were leasehold) that ranged from $465,000 for a 1 bedroom, 1 bath unit to $800,000 for a 2 bed, 2 bath unit on the 29th floor. Today, there are 6 active listings with 1 in escrow. For the latest available listings you can always use my Waikiki Landmark condo search to see what this highrise project in Honolulu, Hawaii has to offer.