Gold Coast Update
“Each of the Gold Coast buildings has its own special features and unique appeal…what they all have in common is the best oceanfront location on Oahu,” said Don A. Persons, owner and Principal Broker of Gold Coast Real Estate, Inc.
Persons was so “sold on the Gold Coast” that he opened his general brokerage in the New Otani Kaimana Beach Hotel 15 years ago. He has lived in the neighborhood for 30 years.
“After seven years of managing the San Souci right next door and recognizing the opportunity for a company that would specialize in the area, I was hoping to find just the perfect place to set up an office…right on the strip with good visibility from Kalakaua Avenue.
“When a ground floor space in the New Otani became available I was right here ready to sign…it couldn’t have been better. Now we’re here seven days a week showing Gold Coast properties to people from all over the world. A lot of our business has come from people walking past the building and deciding to stop in when they see our sign, particularly recently since we were referenced by name in the movie ‘The Descendants.’ Often they are just looking for information…some will tell us to contact them if a particularly good buy becomes available.”
Currently, Persons is marketing 30 Gold Coast properties ranging in price from $105,000 leasehold for a Diamond Head Beach Hotel condo hotel unit to $6,900,000 fee simple for a luxury oceanfront single family home built in 2008. The company also manages approximately 125 rental properties in the area.
Persons points out that the Gold Coast is a neighborhood that can’t be duplicated, contributing to its desirability and exclusivity. “Present day zoning laws and building codes would not allow such structures to be built so close to the ocean. With 300-acre Kapiolani Park on the other side of Kalakaua, this is a neighborhood that hasn’t changed much in five decades and probably won’t change except for upgrades in the forseeable future.
“In addition to a wide sandy beach and several surf breaks out front, there are tennis courts, jogging paths, children’s play areas, dog friendly areas, picnic grounds, and other recreational opportunities in the park across the street. The Outrigger Canoe Club, The Elks Club, Michel’s restaurant, a convenience store, and a beauty salon are located right in the neighborhood. It’s just a short walk to all the dining and shopping options of Waikiki.”
Persons has recently listed a premier unit in the Sans Souci, a co-op residence completed in 1960. The 15-story structure comprises 88 apartments, including studios, one and two bedroom units, and three penthouses, and two levels of parking. Fronting Sand Souci Beach, the building is distinguished by its unique curved design intended to enhance both views and ventilation for all apartments.
“Penthouse III is the former residence of the ‘King and Queen of Ballroom Dancing’ Arthur and Kathryn Murray, who lived there for 35 years. Like other units in the building, it has sweeping views of the ocean and coastline on one side and looks out to Kapiolani Park and Diamond Head on the other. It is one of the largest two bedroom, two bath units in the building with a total of 1,904 square feet including the 486 square foot lanai. The price, $1,397,000 leasehold, includes two side by side parking spaces,” Persons said.
The quarter mile strip known as “The Gold Coast” includes nine co-op apartment residences: the leasehold Sans Souci, fee simple Colony Surf, Tropic Seas, Diamond Head Ambassador, Diamond Head Apartments, Coral Strand, Tahitienne, Seabreeze, and Kainalu, seven condominiums: the fee simple Colony Beach, Castle Surf, 2987 Kalakaua, Oceanside Manor, 3019 Kalakaua, 3056 Kalakaua, and 3003 Kalakaua, three hotels: the New Otani Kaimana Beach, the Lotus, and Diamond Head Beach with leasehold condominium units as well as hotel rooms, the Outrigger Canoe Club, the Elks Club, and several single family homes.