Where can I find a high-rise condo downtown?

[PBatoon]

Call me bold but I have this crazy dream of owning and living in a high-rise condo as a bachelor for at least half a year before i get married.

Yes, im 19, still young, but I have dreams and ambitions. Hehehehe

So being new to this real estate concept, where can I find a suitable "bachelor's pad" in those nice shiny condominium buildings at Ala Moana or something?

Some criteria about about my dream:
-At least a small kitchen with a fridge, maybe a countertop
-Small livingroom
-1 bedroom and bathroom

[tutusue]

Re: Where can I find a high-rise condo downtown?

...and one of the most important questions...
What price range?

[PBatoon]

Re: Where can I find a high-rise condo downtown?

lol... uhhhhhhh max $600,000.?

I actually didnt state a price cause I just wanted everyone to present price ranges for me. Im kinda walking in this blindly just to check out my options.

[tutusue]

Re: Where can I find a high-rise condo downtown?

It's great to have dreams and ambitions but we don't know what you can afford for a monthly payment nor do we know how much money you have for a down payment. Nor do we need to. But...YOU do!!! Now, hele on over to bankrate.com's mortgage calculator and figure out your price range! This is a good exercise even if you don't plan to buy in the immediate future.

Ok...taking your high end at $600,000. as an example...
Hypothetically, if you have available to you a 20% down payment (yes, $120,000.), and you apply for a 30 year fixed rate mortgage for the $480,000 balance at the current rate of 6.7%, your monthly mortgage payments would be...drum roll please...
Approx. $3,100.00
(Note: this does not take into consideration any "points" or escrow fees.)

That also does not take into account a condo building's monthly maintenance fees, property taxes, lease rent (if applicable), homeowner's insurance, hurricane insurance and utilities.

So, PB, do a little homework and then we'll be better able to help you. You can also get the names of buildings that appeal to you then check the listings here. That will give you a handle on the price structure of those nice shiny condo buildings.

[sophielynette]

Re: Where can I find a high-rise condo downtown?

I found this site:

http://www.hicondos.com/

I rent a condo on the very edge of Waikiki, and I'm thinking some of the units are in your price range. You could PM me for more info. I know nothing about the reality of owning a condo though, like I said I just rent. Seems like you mainly just have to shop around.

[PBatoon]

Re: Where can I find a high-rise condo downtown?

Ok...taking your high end at $600,000. as an example...
Hypothetically, if you have available to you a 20% down payment (yes, $120,000.), and you apply for a 30 year fixed rate mortgage for the $480,000 balance at the current rate of 6.7%, your monthly mortgage payments would be...drum roll please...
Approx. $3,100.00

-________________-

Ah sorry tutusue, this kinda is my hw. I know pretty much nothing about financial stuff or real estate or whateva-whateva. I was hoping to learn from you guys. What if I were to just "rent" a condo instead of owning it? How does that work out?


I think right here would be pretty suitable: One Waterfront Tower with the $350,000 LH - One Waterfront Tower, Unit #: MAUKA/402

Total Monthly Fee: $476
Monthly Lease Rent: $181

How does one go about "renting" that type of living quarters?

[PBatoon]

Re: Where can I find a high-rise condo downtown?

Im also majorly attracted to big, modern, and shiny type buildings..Idk..its some kinda manly architechtual desire i have.

http://www.regencyonbeachwalk.net/
http://www.allure-waikiki.com/
HIcondos: Allure Waikiki

http://www.thewaikikilandmark.com/
HIcondos: Waikiki Landmark

http://www.naurutower.com/
Nauru Towers


Do they have one bedroom apartments?

Koolani
http://www.koolani.com/index_high.html

Honolulu Park Place

Honolulu Tower




ah you guys get the jist right?

[poinographer]

Re: Where can I find a high-rise condo downtown?

I think right here would be pretty suitable: One Waterfront Tower with the $350,000 LH - One Waterfront Tower, Unit #: MAUKA/402

Total Monthly Fee: $476
Monthly Lease Rent: $181

How does one go about "renting" that type of living quarters?

That fee and rent are IN ADDITION to the monthly mortgage payment. That unit is NOT being rented to a tenant for $657/month. Get a grip, lad!

[tutusue]

Re: Where can I find a high-rise condo downtown?

[...]How does one go about "renting" that type of living quarters?

The One Waterfront property you linked to is for SALE, not for RENT. You can check for rentals in the classifieds or here. You can also contact a realtor and specify which buildings you're interested in. Here's a realtor's web site with available rentals. One is for One Waterfront. Keep in mind that these aren't all the units available on Oahu. They're that office's rental listings.

For the most part (altho' beginning to change with the current economy), landlords hope to charge a monthly rent that will cover their monthly expenses. That's not always possible, tho'. Rent has been horrendously high the past few years. You seem to have champagne taste (nuthin' wrong with that!). But do you have a beer budget (nuthin' wrong with that either!)? It's just that the 2 don't mix very well!

That fee and rent are IN ADDITION to the monthly mortgage payment. That unit is NOT being rented to a tenant for $657/month. Get a grip, lad!

Gotta remember that PB is only 19. He's looking to be edumacated!!!

[PBatoon]

Re: Where can I find a high-rise condo downtown?

Thanks for the responses, Yeah..I do have that "champaigne" type taste and all of this is PURELY hypothetical. But hey, one can dream. I'm not a doctor yet.

I just wanna know how the system works without having to take some kinda "life skills" class you know? Ugh, seriously though, stuff like this they make it hard for young people like me to understand...-_-

[matapule]

Re: Where can I find a high-rise condo downtown?

I just wanna know how the system works without having to take some kinda "life skills" class you know? Ugh, seriously though, stuff like this they make it hard for young people like me to understand...

In Tongan we say "oieaue!"

Ofa 'atu
Mui Houma

[Leo Lakio]

Re: Where can I find a high-rise condo downtown?

I just wanna know how the system works without having to take some kinda "life skills" class you know? Ugh, seriously though, stuff like this they make it hard for young people like me to understand...-_-

Yep - we do make it hard. It's a test; "life skills" class is close - just remove the word "skills" and you'll know what the class is called.

[sinjin]

Re: Where can I find a high-rise condo downtown?

I just wanna know how the system works without having to take some kinda "life skills" class you know? Ugh, seriously though, stuff like this they make it hard for young people like me to understand...-_-

If it was easy they'd get a monkey to do it. What?

[Amati]

Re: Where can I find a high-rise condo downtown?

I just wanna know how the system works without having to take some kinda "life skills" class you know? Ugh, seriously though, stuff like this they make it hard for young people like me to understand...-_-

Getting into real estate without having enough education on the topic (fee simple vs. lease, ARM vs. fixed mortgage, etc) is a good way to end up in foreclosure.

[kani-lehua]

Re: Where can I find a high-rise condo downtown?

pretty sound advice from these folks, PB!

just got my electric bill and it's now over $200 bucks. it'll probably be over $250 by the end of the year?! it all adds up!