Unless you have travelled to Honolulu in the past, you may not be familiar with the fact that Diamond Head is one of the prime locations for buying real estate in greater Honolulu. Even though it is not one of the busiest tourist destinations in Honolulu, it sees its fair share of visitors and is centrally located along the Honolulu coastline. Whether you are looking for residential or investment property in close proximity to metropolitan Honolulu, Diamond Head would be an area to explore.
Diamond Head Perfectly Located
The neighborhood of Diamond Head is directly adjacent to Waikiki Beach and located midway between Hawaii Kai and downtown Honolulu. It is home to year round residents and also boasts a great number of vacation rentals which are booked throughout the year. Single family residences as well as condominiums and apartments are listed for sale, usually at prices which are much more reasonable than many areas of Honolulu. However, as prime real estate in the state of Hawaii, most properties in Diamond Head are by no means cheap; they are just cheaper than other areas of the city.
Why Investment Property in Diamond Head Is So Attractive
As mentioned, Diamond Head is located midway between the busy downtown shopping/business district of Honolulu and Hawaii Kai. In other words, to the south of Diamond Head lie the more chic neighborhoods and to the north are the busy metro areas. Visitors come from around the world to see the historic Diamond Head Crater and view the tunnels which were dug to provide access to Fort Ruger. The tunnels were actually built on four levels underground inside the extinct volcano. Unless you are looking for an investment property in the upscale Kahala area in the southern reaches of Diamond Head, prices are likely to be quite attractive.
Examples of 2011 MLS Prices in Diamond Head
It only takes browsing through a sampling of MLS listings in order to see how reasonable the prices are in many areas of Diamond Head. In mid 2011, a 1/1 with an oceanfront view and a wrap-around lanai is listed for $399k in Diamond Head. In the same building there is a 2/1 listed with an enclosed lanai for only $539k which would almost be unheard of elsewhere in a beachfront condo with a magnificent view of the ocean. Consider the fact that a studio in Waikiki can cost upwards of $800k (if not more!) which is double a 1/1 in Diamond Head and you will see why the prices are considered reasonable in this beachside area of Honolulu.
Whether you are looking for a greater Honolulu area investment property or seeking a year round residence, Diamond Head is prime real estate and worthy of your consideration. Located on the coast of Hawaii’s most visited island, Diamond Head properties are set to increase in value relative to surrounding regions. Don’t miss out on what could be the deal of a lifetime.