WAĪKIKĪ
NEIGHBORHOOD
Waikīkī, meaning “spouting waters” in Hawaiian, was named for the freshwater springs and streams that once flowed from the mountains into the area, nourishing lush wetlands and taro fields through an intricate irrigation system called auwai. In ancient times, Waikīkī was a favored retreat for Hawaiian royalty who surfed its gentle waves and found peace along its shoreline. As Western contact increased in the 19th century, the landscape gradually shifted, and by the early 20th century, Waikīkī began its transformation into a world-renowned tourist destination with the opening of landmark hotels like the Moana Surfrider in 1901. The arrival of commercial air travel and Hawaii’s statehood in 1959 fueled rapid development, turning Waikīkī into a vibrant hub of hospitality, luxury, and entertainment. Today, while its skyline is marked by high-rises and resorts, Waikīkī still carries the cultural echoes of its royal past and the natural beauty that gave it its name.
REAL ESTATE ZONING IN WAĪKIKĪ
Waikīkī’s real estate zoning is unique and carefully regulated to balance its role as a world-class tourist destination with residential needs. The area primarily falls under the Waikīkī Special District (WSD), which includes several zoning designations such as Resort, Apartment, Mixed-Use, and Commercial. The Resort zone allows for hotels, short-term rentals, and visitor accommodations, making it highly sought after by investors. Apartment and Apartment Mixed-Usezones are generally intended for long-term residential use, though certain properties may have nonconforming rights for short-term rentals. Commercial zones support retail, dining, and office spaces, contributing to the district’s vibrant economy. The WSD also includes strict design guidelines to preserve Waikīkī’s character, manage density, protect view corridors, and enhance pedestrian access. Understanding these zoning distinctions is essential when buying, selling, or developing property in Waikīkī.
Source: Department of Planning and Permitting, City and County of Honolulu – Land Use Ordinance as of 2/6/2023 (https://www.honolulu.gov/rep/site/dpp/dpp_docs/land-use-ordinance.pdf)
EARLY REAL ESTATE DEVELOPMENT
Following the park’s development, the surrounding area saw increasing interest from both private and public sectors. During the 1950s, with the growth of Honolulu as a metropolitan city, Ala Moana became a prime location for urban expansion. The construction of Ala Moana Center in 1959 was a landmark moment—not only did it become the largest shopping center in the U.S. at the time, but it also anchored a wave of real estate activity in the area.
This period saw the rise of mid-century residential buildings, catering to middle-class families and urban professionals. Over time, Ala Moana evolved into a dynamic mix of high-rise condominiums, luxury residences, office buildings, and retail destinations. The neighborhood attracted both local buyers and international investors, drawn by its central location, ocean views, and proximity to Waikīkī and downtown Honolulu.
LOCAL LIFESTYLE
The skyline around Ala Moana has transformed significantly over the past two decades, with the emergence of high-rise condominiums and luxury high-rise condominiums offering panoramic ocean views, resort-style amenities, and direct access to premier shopping and dining. Flagship residential properties such as Park Lane Ala Moana, have set new standards for upscale condominium living in Hawai‘i. These developments appeal to discerning buyers seeking exclusivity, convenience, and a cosmopolitan lifestyle steps away from Ala Moana Center and the beach park.
ABOUT
PATRICK R. Gey
Patrick R. Gey is a highly accomplished realtor whose rapid success in the industry is a testament to his dedication, expertise, and innovative approach. Despite transitioning to real estate only a few years ago, Patrick has swiftly established a reputation for delivering exceptional results in some of Hawaii’s most desirable and luxury neighborhoods.
LICENSE: RS-84837
DEMOGRAPHIC DATA FOR ALA WAĪKIKĪ
Ala Moana’s demographic is a dynamic blend of young professionals, affluent investors, creative entrepreneurs, and long-time Hawai‘i residents drawn to the area’s modern urban lifestyle and proximity to the ocean. The neighborhood particularly appeals to Millennials and Gen Xers who value convenience, design-forward living spaces, and a vibrant, walkable community. Many residents are employed in nearby business districts or work remotely in tech, design, or healthcare industries, contributing to a progressive, globally minded culture. The influx of international buyers—especially from Japan, Korea, and Canada—has also added a cosmopolitan flair, particularly in luxury towers like Waiea and Anaha. Meanwhile, mixed-income housing options and reserved housing initiatives attract local families and first-time homeowners, ensuring a diverse and inclusive community. This balance of luxury and accessibility, coupled with cultural events, art installations, and culinary experiences, makes Ala Moana one of Honolulu’s most socially and economically diverse neighborhoods.
ALL DATA FROM UNITED STATES CENSUS BUREAU 2023 - DATA FOR KAKA'AKO & ALA MOANA AREAS, ZIP CODE 96814
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POPULATION BY AGE GROUP
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ALL DATA FROM UNITED STATES CENSUS BUREAU 2023 - DATA FOR KAKA'AKO & ALA MOANA AREAS, ZIP CODE 96814
FROM A REAL ESTATE PERSPECTIVE
As of early 2025, the Ala Moana real estate market is experiencing a nuanced shift, offering both challenges and opportunities for buyers and sellers. The median home sale price stands at $860,000, reflecting a slight 0.9% decrease year-over-year. Notably, one-bedroom units saw an 8.8% decline to $625,000, while two-bedroom units appreciated by 4.8% to $975,000 . Inventory levels have risen across all categories, with a notable 9.8% increase in two-bedroom listings from January to February 2025. This uptick in supply has led to a more balanced market, where 84% of homes are selling below asking price and the average days on market have extended to 101 days, a 73% increase from the previous year . These trends indicate a shift towards a buyer-friendly environment, providing greater negotiation leverage and a wider selection of properties. For sellers, strategic pricing and enhanced property presentation are becoming increasingly crucial to attract discerning buyers in this evolving market landscape.
OWNER / RENTER CHARACTERISTICS
BEDROOMS IN OCCUPIED HOUSING UNITS
WORK WITH PATRICK
“Patrick’s international lifestyle and deep-rooted community connections have equipped him with a strong cultural awareness that enables him to build meaningful relationships with clients locally and from all over the world.”
