Live Market Intelligence · April 2026
Island Colony
What’s Moving & Why
445 Seaside Ave · Waikiki, Honolulu 96815 · Studio Condotel Units
Active Listings
23
units on market
Sold Last 90 Days
8
closed transactions
Avg Sold Price
$378K
all recent sales
Fastest Sale
8 Days
unit #2815
Slowest Sale
329 Days
unit #2804
The same building — same floor plans, same amenities, same zip code — and yet one unit sold in 8 days while another took 329 days. The data tells a clear story: price positioning, floor level, view quality, and renovation status are the four levers separating fast closings from stagnant inventory. Units that ignore any one of these pay for it in time on market and forced price reductions.
01
Price Discipline
The 3 fastest sales were priced within 5% of where they ultimately sold. Overpricing extends DOM and triggers stigma.
02
Floor & View
High-floor units (floor 25+) with ocean + Diamond Head + canal views commanded $1,100–$1,408/sqft. Low floors stalled.
03
Renovation Status
Units remodeled in 2021–2023 sold fastest at full price. Average condition required deeper discounts to move.
04
Financing Type
Conventional-eligible units drew more buyers. Cash-only listings had a dramatically smaller pool and longer DOM.
Sold Price vs. Days on Market — All Recent Sales
Bar length = sold price. Color = speed to close. DOM shown at right.
Sold <30 days (fast)
Sold 31–90 days (normal)
Sold 90+ days (slow)
What Moved Fast — Under 30 Days
3 of 8 recent sales closed in under a month. Here’s exactly why.
▲ FASTEST CONVENTIONAL SALE
Unit #3906 — Floor 39
Island Colony · 309 sqft + 103 sqft lanai
$378,000
Listed $398,000
Sold at full reduced ask
20 Days on Market
Floor 39
Remodeled 2023
City + Coastline + Golf + Sunset
Conventional Financing
Excellent Condition
Why it sold: Freshly remodeled in 2023 with new paint and hardwood floors. High floor with multi-directional views. Priced at $1,223/sqft after a strategic reduction — in line with market. Conventional financing opened the door to far more buyers than cash-only alternatives.
$1,223
/sqft
/sqft
▲ RENOVATED & CORRECTLY PRICED
Unit #2912 — Floor 29
Island Colony · 316 sqft + 104 sqft lanai
$395,000
Listed $415,000
−4.8% from list
30 Days on Market
Floor 29
Remodeled 2022
City + Mountain + Ocean + Sunset
Conventional Financing
Excellent Condition
Why it sold: Modern vinyl flooring and a split A/C upgrade made this a turnkey investment. Seller made one clean price reduction early and held firm. Ocean and sunset views from floor 29 drew immediate attention in a building where views vary dramatically by floor.
$1,250
/sqft
/sqft
▲ PRICED TO VELOCITY
Unit #2506 — Floor 25
Island Colony · 309 sqft + 104 sqft lanai
$340,000
Listed $360,000
−5.6% from list
16 Days on Market
Floor 25
Mountain + Ocean + Canal Views
Cash Purchase
Average Condition
Why it sold: Average condition, cash-only — yet it closed in 16 days. The reason: the seller priced it below competing active units, creating urgency. Investor-buyers recognized the floor 25 canal + ocean view and value proposition immediately. Price was the lever.
$1,100
/sqft
/sqft
Moderate Sales — 43 to 83 Days
Good bones, but friction in condition, financing, or initial pricing slowed them down.
→ VIEW CARRIED IT; CONDITION SLOWED IT
Unit #3909 — Floor 39
Island Colony · 308 sqft + 116 sqft lanai
$416,000
Listed $430,000
−3.3% from list
43 Days on Market
Floor 39
Diamond Head + Ocean + Canal + Sunrise + Sunset
Conventional
Average Condition
Key lesson: Best view stack in the building (DH + ocean + canal + both sunrises & sunsets) and conventional financing. The only headwind was average condition in a comp set with renovated units. Still closed at $1,351/sqft.
$1,351
/sqft
/sqft
→ CLOSING CREDIT BRIDGE MADE THE DEAL
Unit #3905 — Floor 39
Island Colony · 302 sqft + 116 sqft lanai
$425,000
Listed $435,000
+ $10K closing credit to buyer
43 Days on Market
Floor 39
Diamond Head + Ocean + Canal + Sunrise
Conventional
Average Condition
Key lesson: Seller used a $10K closing credit to bridge the gap rather than cut the list price. Worked. The highest price per sqft of any sale this period at $1,408/sqft — views at floor 39 justified the premium even without a renovation.
$1,408
/sqft
/sqft
→ CASH-ONLY POOL + LOW FLOOR = FRICTION
Unit #1206 — Floor 12
Island Colony · 309 sqft + 104 sqft lanai
$290,000
Listed $340,000 → $320,000
−9.4% from OLP
83 Days on Market
City + Mountain only
Cash Only
Average Condition · Unfurnished
Key lesson: Three factors compounded: floor 12 with no ocean view, cash-only restriction, and unfurnished condition. Required two price cuts and still sold at $290K. The lowest sale price in the period by far. Floor and financing are not optional variables.
$938
/sqft
/sqft
What Stalled — 110 to 329 Days
Two units that took 4x–11x longer than the market average. The data reveals why.
▼ OVERPRICED, CASH-ONLY, NO VIEWS
Unit #4410 — Floor 44
Island Colony · 316 sqft + 104 sqft lanai (Penthouse level)
$380,000
Listed $425,000 → $405,000
−10.6% from OLP · 110 DOM
110 Days on Market
Floor 44
City + Ocean + Sunset (west-facing, limited DH)
Cash Only
Above Average Condition
Why it stalled: High floor should have been an asset — but cash-only financing killed the buyer pool. Launched at $425K when comparable high-floor units were trading at $378–$416K. Took two cuts and 110 days to find a cash buyer willing to pay $380K. Same price could have been achieved at <30 DOM with better positioning.
$1,203
/sqft
/sqft
▼ HOTEL RENTAL POOL + DEEP PRICE CUT
Unit #2804 — Floor 27
Island Colony · 292 sqft + 104 sqft lanai
$298,000
Listed $370,000 → $345,000
−19.5% from OLP · 329 DOM
329 Days on Market
Floor 27
City + Golf + Canal + Mountain (no ocean)
Cash Only
In Hotel Rental Pool
Why it stalled: A perfect storm of obstacles — hotel rental pool restrictions complicated due diligence, no ocean view, cash-only, and launched nearly 25% above where it ultimately sold. The $298K closing price was the lowest $/sqft ($1,021) of any sale. A well-priced, correctly positioned listing at this floor could have sold in under 45 days.
$1,021
/sqft
/sqft
All Recent Sales — Side by Side
Sorted by Days on Market
| Unit | Floor | Sold Price | List Price | Chg | $/sqft | DOM | Condition | Financing | View |
|---|---|---|---|---|---|---|---|---|---|
| #2506 | 25 | $340,000 | $360,000 | −5.6% | $1,100 | 16 | Average | Cash | Mtn + Ocean |
| #3906 | 39 | $378,000 | $398,000 | −5.0% | $1,223 | 20 | Excellent / 2023 Reno | Conv | City + Coast + Golf |
| #2912 | 29 | $395,000 | $415,000 | −4.8% | $1,250 | 30 | Excellent / 2022 Reno | Conv | City + Mtn + Ocean |
| #3909 | 39 | $416,000 | $430,000 | −3.3% | $1,351 | 43 | Average | Conv | DH + Ocean + Canal + Full |
| #3905 | 39 | $425,000 | $435,000 | −2.3% | $1,408 | 43 | Average | Conv | DH + Ocean + Canal + Sunrise |
| #1206 | 12 | $290,000 | $340,000 | −9.4% (2 cuts) | $938 | 83 | Average | Cash | City + Mtn only |
| #4410 | 44 | $380,000 | $425,000 | −10.6% (2 cuts) | $1,203 | 110 | Above Avg | Cash | City + Ocean + Sunset |
| #2804 | 27 | $298,000 | $370,000 | −19.5% (2 cuts) | $1,021 | 329 | Excellent | Cash | City + Golf + Canal |
23 Active Listings — The Stagnation Breakdown
Units already on market. Note how many are priced above where similar units have actually sold.
The Pattern in Plain Language
Price Anchoring Kills Deals
Units that started above $415K and needed multiple cuts lost an average of 90+ days and $25K+ vs. what a correct original price would have achieved. The market has a ceiling, and the data shows it clearly: $290K–$425K is where transactions happen.
Floor & View Have a Premium
Floor 39 units with full views (Diamond Head, ocean, canal) averaged $1,321/sqft — a 29% premium over the floor 12 unit that averaged $938/sqft. The view isn’t cosmetic. It’s a measurable dollar amount in this building.
Renovation is ROI
The two recently renovated units (#3906 & #2912) sold in under 30 days at $1,223–$1,250/sqft. Average-condition comparable units sold slower and lower. A targeted refresh (flooring, paint, A/C upgrade) can recoup 150%+ in sale price and save months of carrying costs.
Conventional vs. Cash: The Pool Problem
Every unit that accepted conventional financing sold in <45 days. Every cash-only unit took longer, with the worst case hitting 329 days. Cash-only restrictions can cut the eligible buyer pool by 60–70% in this segment. This matters most for the large number of active listings without financing flexibility.
If You Own a Unit in This Building
Know your comp tier before you list
Your floor and view determine which sales are actually comparable to your unit. A floor 39 unit with Diamond Head views is not the same product as a floor 12 city-view unit — even if the square footage is identical. Using the wrong comp to price can cost you 6–12 months.
A targeted renovation before listing pays for itself
The data shows renovated units (#2912, #3906) sold faster and at a premium vs. average-condition units at the same floor. New vinyl flooring, fresh paint, and an A/C upgrade can meaningfully shift your unit into the fast-sale tier with no reduction in sale price.
The 23 active listings create urgency for buyers, not sellers
With 23 units active and only 8 sales in the last quarter, buyers have choices — and they’re choosing renovated, correctly-priced, view-facing units first. Every week a poorly-positioned listing sits, a comparable unit at the right price closes around it. The window to act ahead of the competition is now.
Short-term rental eligibility is a selling feature — highlight it
Multiple sold units were marketed explicitly as legal short-term rental (condotel-eligible). In a building where investor buyers dominate, STR eligibility is a primary underwriting factor. Units that made this clear in their marketing moved faster. Units in management/hotel pools (with usage restrictions) took 3–10x longer to close.