Hawaiian Inn in Daytona Beach Shores. May 2012

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

In the last 5 years the resort went through difficult time. It was originally built in 1965, and then the 5th floor was added in 1974. The Association tried to keep up with preventive maintenance, and as a result the Maintenance fee in the resort was usually higher than in other condo-hotels, but the age is something you can't fight.

Hawaiian Inn in Daytona Beach Shores

The time came when they needed to do major concrete restoration, consisting of replacement of balconies and partial replacement of concrete in walkways.

It came at a time when the values were on decline, which made it very difficult for the owners. Special assessments one after another in lump sums and installments, high default rate, people were walking away from their units.

There was a moment when we did not know whether the Condo-hotel could even survive.  Prices fell to the all-time low with $15K, 18K and others for under $20K.

Finally concrete restoration has been completed, I think, 2 years ago. By that time defaulted owners have either lost their units or short sold them, and new lucky owners started paying their regular maintenance fee.

In February 2009 there were 34 units for sale in Hawaiian Inn Resort starting from $29K for a small unit without a balcony.

Owners are breathing much easier now, after it is finally all paid off. It is a fully functional condo-hotel at this time. Look at the listings and you will see how different it is today. Prices are much higher than in 2011.

For now Maintenance fee is same $450 a month. It can be changed after the Association decides on reserves. «No pets» policy. Wi Fi available in all rooms and in the lobby.

The resort had a series of pricy Special Assessments to complete the project, and I am sure

Today we only have 11 units for sale with prices starting from $49,900.

This is a sign of a trend. While you can still find low priced properties, the inventory is only about 40% of what it was at the peak of the real estate flood. And low inventory means that there is more competition with fewer units to sell.

And it, in turn, means that prices are going up and will be going up for some time. Just check the asking prices in Hawaiian Inn today with what the units were selling for last year, and you will see it with your own eyes.

The resort amnities include:

  • Olympic Size Swimming Pool with One of the Largest Pool Decks in the Area
  • Indoor Heated Swimming Pool
  • Children's Wading Pool
  • 9-Hole Miniature Golf Putting Green and 2 Shuffleboard Courts
  • Ohana Bar, Grill & Tiki Bar
  • Ohana Luau Dinner Show
  • Game Area
  • Gift and Souvenir Shop
  • Meeting Room Available for Group Events

The resort rooms feature:

The condo-hotel offers all the comforts of home including cable TV, safe, irons and ironing boards, a microwave, a mini-refrigerator, a coffee-maker and a hair dryer.

And, of course, Florida sun, clear waters of the Atlantic and the World's Most Famous Beach.Did I mention that this comes as a bonus and is free?

Hawaiian Inn in Daytona Beach Shores

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Florida Volusia County Daytona Beach Shores Hawaiian Inn
Groups:
Condos, What you need to know?
Market Reports
Realtors®
Local Expert
Condo Specialists
Tags:
cheap daytona condos
daytona condohotels
hawaiian inn daytona beach shores
hawaiian inn resort
hawaiian inn daytona

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
177,630
Dee Toohey
Innovative Realty Solutions Group - Longwood, FL
Broker, ABR, AHWD, CIPS, FMS, ePro

This is good news, Jon!  Thanks for sharing.  I'm glad to see things are happening in Daytona Beach!

May 15, 2012 03:19 PM #1
Ambassador
782,487
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise in NE Philadelphia & Bucks County

Well things are looking up! This is good news !

May 15, 2012 04:25 PM #2
Ambassador
1,338,936
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Dee - it is good new, thank you

May 15, 2012 08:25 PM #3
Ambassador
1,338,936
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Thank you, Hannah

May 15, 2012 08:25 PM #4
Rainmaker
977,734
Sharon Alters
Coldwell Banker Vanguard Realty - Fleming Island, FL
Your Fleming Island Relocation Agents.

Jon, you have such a way with words - the real estate flood - that's exactly what it was, wan't it? Now the tide is receding, little by little. Exciting trend for the Hawaiian Inn at Daytona Beach Shores.

May 15, 2012 09:05 PM #5
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the eye to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Ambassador
1,338,936

Jon Zolsky, Daytona Beach, FL

Selling Daytona paradise for heavenly good prices
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tree to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information