Ilikai Marina

Ilikai Marina sits at 1765 Ala Moana Boulevard on the western edge of Waikiki, directly fronting the Ala Wai Yacht Harbor. Built in 1968 as part of the original Ilikai development, the 18-story, 256-unit building occupies one of the more distinctive positions in the neighborhood — close enough to Waikiki’s energy to access everything easily, but oriented toward the harbor in a way that gives it a quieter, more nautical character than most buildings on the strip. The Chart House Waikiki, a waterfront restaurant with a long history in Honolulu, anchors the ground floor.

The building’s floor plan structure is unusually clear: odd-numbered units are studios with city and mountain views, while even-numbered units are one-bedrooms with unobstructed views of the Ala Wai Yacht Harbor. Studios run around 455 square feet with a lanai; one-bedrooms range from 651 to 742 square feet with larger lanais on some configurations. It’s a compact building in terms of unit count per floor, and the harbor-facing units in particular offer a view that doesn’t require a high floor to feel expansive.

Legal short-term vacation rentals are permitted, which alongside the harbor setting and fee simple tenure makes the investment case here fairly direct. Ala Moana Beach Park, the Ala Moana Center, and Waikiki Beach are all within easy walking distance, and the building’s position near the entrance to Waikiki gives owners quick access in and out of the neighborhood without navigating the main tourist corridor.