I had another client sign a contract at the Allure in Waikiki today, where condo prices are reduced between 15-30%. They are still the best deal in town for Waikiki Condos. The building is on track to close in April and is one of Oahu's few new buildings this year.
They are about 48% sold right now, with about 20 of them being sold in the last 2 months. The sales agent said they have been selling 3-4 units per week.
For under $1mil you can get a nice mountain or ocean view condo with 2 bedrooms and about 1100sqft.
For about $700k you can get a 1200sqft 2 bedroom with a city view of Waikiki and Honolulu.
For $1.5mil, you can buy a beautiful penthouse around 1380sqft with an ocean view overlooking Waikiki. All these prices reflect a 30% reduction from the original sale price.
The Allure is a great looking building located at the entrance to Waikiki, right across from the Landmark Waikiki, and I think my clients will be thrilled. At current prices, the Allure is about 15-20% below the resale market at the Watermark and Lanikea at Waikiki, both somewhat similar in style and age.