Buying a Luxury House Vs. Luxury Condo

Purchasing a luxury house or property is a big decision. Another decision that might be weighing heavily is the difference between a condo or a single-family home. If you're looking to downsize or just change your lifestyle, there's quite a bit of difference between a house and a condo purchase.

If you can't decide between the two, here are some of the biggest differences between a luxury house versus a luxury condo.

Pros and cons to purchasing a luxury house

Advantages of a house

Houses might be ideal for growing families, couples, or individuals that value privacy and space. However, there are higher maintenance costs and upkeep to a house versus a condo.

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Here are some of the advantages of owning a luxury house versus a condo.

  • You own the land.
  • Less obstructed views.
  • More privacy.
  • Quieter.
  • Potentially more character.
  • Possibly better resale value.

Diamond Head Kahala Home Interior

Disadvantages to a house

  • Additional landscape or yard maintenance
  • More home maintenance costs and upkeep
  • Potentially higher property taxes
  • Possibly homeowner association dues
  • Higher home insurance costs

While these are general guidelines, they may vary if the home is in a Homeowners Association. Homeowners assocations can pass restrictions on the property and land, up to and including rules on how the property is bought and sold. HOA rules can vary from extremely strict to existing purely on paper, so it's important to read the paperwork before buying.

Looking to buy a second home in Hawaii? Check out our services!

If you're looking at purchasing a luxury condo there are also pros and cons to this type of real estate as well.

Related: Should you buy a house before moving to Oahu?

Advantages of a condo

Condos, like homes, can come in a wide range of options. In general, purchasing a condo is the low maintenance, turnkey option. Condos In Hawaii are usually in high-rise buildings and range from ultra-luxury penthouses like those in Waiea to studio units in Ae'o, a high-rise tower with Whole Foods incorporated into the base.

  • Low maintenance
  • Turnkey solution
  • Potential amenities
  • More socialization opportunities
  • Potentially closer to the city
  • Higher security

Victoria Place Living Room

Disadvantages of a condo

  • Smaller spaces
  • Shared facilities
  • Less privacy
  • Monthly dues
  • Condo association restrictions and rules
  • Shared walls, floors, and/or ceilings

When you choose a condominium you will definitely have additional condo association fees. These fees cover items such as building maintenance, management, and any amenities. Instead of paying the money to do the maintenance yourself, you're making monthly payments for the Association to handle all of the maintenance. It's a great low-maintenance lifestyle but it's a trade-off with association dues.

Depending on what you choose, pricing can be all over the board. You can buy a beautiful penthouse condominium for the same price as a moderately priced single-family home depending on the location and amenities.

Related: Cost of Living in Hawaii

Condominiums make a great purchase for those downsizing, retirees, those just getting into the real estate market and would like to build up some equity for a single-family home later on, and for those that simply want the low maintenance lifestyle. Amenities may include swimming pools, dog parks, tennis courts, fitness centers, and other resort-style perks.

Victoria Place Tower Mockup

However, the luxury house does give you the freedom to do just about whatever you want, if you're not in a HOA. In these cases, you do have to maintain the home your self, or find someone to manage the maintenance.

Related:  How to Buy a Condo in an Area When You Don't Live There

Regardless, there are beautiful luxury condos and homes throughout Oahu. If you'd like a list of both, contact me below. I can offer tips and suggestions on different condo buildings throughout Oahu as well as luxury neighborhoods and communities that might offer the ideal home for your needs and your budget.

Start browsing condos and houses below to get a sense of the type of properties available on Oahu. Once you've decided what you'd like and are ready to discuss your options, contact us at (808) 400-9542 to get started. We'll work with you to refine your list of properties to find the one that best fits your needs.

Search the Newest Luxury Condos for Sale and Luxury Homes for Sale on Oahu

120 Properties
Page 1 of 10
$7,200,000
Condo: Waiea - 1118 Ala Moana
3
Beds
3F11/2
Baths
2,674
Sq.Ft.
2016
Year Built
2
Days on Site
202403211
MLS
$2,800,000
Condo: Hokua At 1288 Ala Moana
2
Beds
2
Baths
1,524
Sq.Ft.
2006
Year Built
5
Days on Site
202403541
MLS
2
Beds
2F11/2
Baths
1,986
Sq.Ft.
2016
Year Built
12
Days on Site
202403366
MLS
$2,735,000
Condo: Anaha - 1108 Auahi
2
Beds
2
Baths
1,691
Sq.Ft.
2017
Year Built
12
Days on Site
202403695
MLS
$7,400,000
Condo: Waiea - 1118 Ala Moana
3
Beds
3F11/2
Baths
2,659
Sq.Ft.
2016
Year Built
14
Days on Site
202403330
MLS
Active Under Contract
47 Kailuana Place Kailua,  HI 96734
$16,880,000
Neighborhood: Beachside
6
Beds
6F21/2
Baths
5,804
Sq.Ft.
2004
Year Built
14
Days on Site
202403516
MLS
Active Under Contract
3005 Kalawao Street #2 Honolulu,  HI 96822
$2,498,000
Neighborhood: Manoa Area
4
Beds
3
Baths
2,420
Sq.Ft.
2022
Year Built
15
Days on Site
202403481
MLS
3
Beds
3
Baths
2,499
Sq.Ft.
2006
Year Built
16
Days on Site
202403324
MLS
Open 3/3
1296 Kapiolani Boulevard Honolulu,  HI 96814
$2,349,998
Condo: Moana Pacific
3
Beds
3
Baths
2,349
Sq.Ft.
2007
Year Built
16
Days on Site
202403422
MLS
Active Under Contract
5576 Poola Street Honolulu,  HI 96821
$2,350,000
Neighborhood: Kahala Kua
4
Beds
3
Baths
2,186
Sq.Ft.
2002
Year Built
16
Days on Site
202400863
MLS
Open 3/3
232 Hanakoa Place #A Honolulu,  HI 96825
$2,000,000
Neighborhood: Koko Head Terrace
6
Beds
4
Baths
2,652
Sq.Ft.
2010
Year Built
17
Days on Site
202403385
MLS
2
Beds
2F11/2
Baths
1,474
Sq.Ft.
2014
Year Built
20
Days on Site
202402903
MLS

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Discussion

#1 By Luxury Residence Honolulu at 8/2/2022 -2:39 PM

Deciding between a luxury house or condo is tough, but this article is great for weighing each option. Thanks for sharing!

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