I recently and brieftly looked into buying a condo in Waikiki in the same building my parents stay in. I wanted one in the hotel pool.

The prices are ridiculous. These units are in the 600 sq ft vicinity (plus lanai) and one that was "as is" with a partial ocean view was a "steal" at $350k. A decent unit with the same view (and about the same floor) was in the $400k range.

I was told that to break even a 50% down payment would need to be made. The hotel pool takes 40-50% of the revenue generated each month plus maintenance, if any, each month.

Needless to say, I immediately stopped my search. There is no way I'm paying that kind of money for an apt a little bigger than my family room and in an older building (no central a/c).