Legal Short-Term Rental in the Heart of Waikiki: The Aqua Palms Waikiki

Be Aware of the Strict Laws Behind Short-Term Rentals on O’ahu

Legislators and special interest groups of our islands have implemented laws to crack down on small business owners of short-term rentals. On O’ahu there are a few legal options left for interested entrepreneurs.

Work With a Professional To Help Simplify Your Hunt

When it comes to owning a legal short-term rental, there are very limited options now. The property either has to fall within the proper Zoning and be and be allowed by the building or it must have grandfathered short term rental rights if outside of the Zoning. Additionally, if a home outside of the Zoning has been granted a “Non-conforming Certificate” it can also be allowed to conduct short-term rentals.

Be Realistic About the Work of “Self-Managing”

When you are considering the purchase of a short-term rental property you first want to consider who would manage the property. In the past I have assisted clients who live locally and opted to self-manage. If you self-manage keep, in mind that you will need to clean the unit, the bedding and replenish all the health and beauty items yourself. It could be that vacationers book your unit for weeks, and you could also have guests that stay just one night. Be realistic about what you are up to commit to.

Benefits of On-Site Management

One upside of The Aqua Palms Waikiki is that the have an on-site management team. When you walk in the doors, there is a crew of friendly people waiting to check guests in and assist with any questions they might have. The lobby is well maintained and opens right out onto Ala Moana Blvd where you are just blocks from the beach, eateries, the huge Ala Moana Mall and much more.

Management Fees & Profit and Loss Statements

If you hire a property manager, expect to be charged anywhere from 25% to 50% of what you are charging guests to stay. This could be worth it for you, but at the end of the day, it always comes down to numbers. If you are shopping for a short-term rental, obtaining any Profit and Loss statements from the seller will be crucial in determining if the numbers work.

For any questions call Joelle at 808.799.0253