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1778 Ala Moana Blvd
Honolulu, HI 96815
Discovery Bay Center · Retail Property For Sale
Executive Summary
Discovery Bay at 1778 Ala Moana Boulevard is a multifamily residential building located in Waikiki, Honolulu. The property is within walking distance to Ala Moana Beach Park and Ala Moana Center, one of the region’s largest shopping and entertainment hubs. It is situated near major arterial routes providing access to Honolulu’s core business and residential districts, as well as interstate connectivity via H-1. Amenities include recreational spaces and on-site parking, supporting both long-term residency and seasonal demand.
1 Unit Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | No. Parking Spaces | 250 |
| Sale Type | Investment |
| No. Parking Spaces | 250 |
Description
Discovery Bay’s iconic characteristics extend far beyond the rare opportunity
to acquire a fee-simple* asset in Waikiki’s tightly regulated and fully built out
submarket, it reflects Hawaii’s elite investment allure and the long-term stability
that defines generational investment opportunities.
to acquire a fee-simple* asset in Waikiki’s tightly regulated and fully built out
submarket, it reflects Hawaii’s elite investment allure and the long-term stability
that defines generational investment opportunities.
Sale Notes
Institutional Property Advisors (IPA) is pleased to present Discovery Bay to the global
retail investment market. Discovery Bay is a fee-simple*, world-class retail opportunity
located at 1778 Ala Moana Boulevard and where Waikiki retail begins (“Property”).
Discovery Bay is positioned at the intersection of necessity and luxury, serving the
essential needs of 660 residential units while capturing the aspirational spending
of 1.2M tourist beginning their Waikiki experience. Beyond the 660 condominium
units directly above, Discovery Bay sits at the center of a one-block cluster of several
thousand hotel and condo units at Hilton Hawaiian Village, Ilikai, Ala Moana Hotel
and Prince Waikiki, plus additional timeshare development at Ala Moana and Ena
Road and across from the property.
Generating approximately $1.735MM of annual NOI and more than 40 years of
proven operating history, Discovery Bay delivers defensive cash flow with a clear
path to NOI growth through long term parking income optimization. The Property
includes 250 parking spaces in the complex’s parking structure producing
approximately $477,000 annually at below-market rates, offering an immediate NOI
enhancement opportunity. The established, necessity oriented tenancy provides
durable performance across economic cycles.
retail investment market. Discovery Bay is a fee-simple*, world-class retail opportunity
located at 1778 Ala Moana Boulevard and where Waikiki retail begins (“Property”).
Discovery Bay is positioned at the intersection of necessity and luxury, serving the
essential needs of 660 residential units while capturing the aspirational spending
of 1.2M tourist beginning their Waikiki experience. Beyond the 660 condominium
units directly above, Discovery Bay sits at the center of a one-block cluster of several
thousand hotel and condo units at Hilton Hawaiian Village, Ilikai, Ala Moana Hotel
and Prince Waikiki, plus additional timeshare development at Ala Moana and Ena
Road and across from the property.
Generating approximately $1.735MM of annual NOI and more than 40 years of
proven operating history, Discovery Bay delivers defensive cash flow with a clear
path to NOI growth through long term parking income optimization. The Property
includes 250 parking spaces in the complex’s parking structure producing
approximately $477,000 annually at below-market rates, offering an immediate NOI
enhancement opportunity. The established, necessity oriented tenancy provides
durable performance across economic cycles.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit Retail | 36,956 SF | Retail | Upon Request | - |
Unit Retail
| Unit Size |
| 36,956 SF |
| Condo Use |
| Retail |
| Price |
| Upon Request |
| NOI |
| - |
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Unit Retail
| Unit Size | 36,956 SF |
| Condo Use | Retail |
| Price | Upon Request |
| NOI | - |
| Sale Type | Investment |
| No. Parking Spaces | 250 |
| Description | |
| Discovery Bay’s iconic characteristics extend far beyond the rare opportunity<br> to acquire a fee-simple* asset in Waikiki’s tightly regulated and fully built out<br> submarket, it reflects Hawaii’s elite investment allure and the long-term stability<br> that defines generational investment opportunities.</li></ul> | |
| Sale Notes | |
| Institutional Property Advisors (IPA) is pleased to present Discovery Bay to the global<br> retail investment market. Discovery Bay is a fee-simple*, world-class retail opportunity<br> located at 1778 Ala Moana Boulevard and where Waikiki retail begins (“Property”).<br> Discovery Bay is positioned at the intersection of necessity and luxury, serving the<br> essential needs of 660 residential units while capturing the aspirational spending<br> of 1.2M tourist beginning their Waikiki experience. Beyond the 660 condominium<br> units directly above, Discovery Bay sits at the center of a one-block cluster of several<br> thousand hotel and condo units at Hilton Hawaiian Village, Ilikai, Ala Moana Hotel<br> and Prince Waikiki, plus additional timeshare development at Ala Moana and Ena<br> Road and across from the property.<br> Generating approximately $1.735MM of annual NOI and more than 40 years of<br> proven operating history, Discovery Bay delivers defensive cash flow with a clear<br> path to NOI growth through long term parking income optimization. The Property<br> includes 250 parking spaces in the complex’s parking structure producing<br> approximately $477,000 annually at below-market rates, offering an immediate NOI<br> enhancement opportunity. The established, necessity oriented tenancy provides<br> durable performance across economic cycles.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 663,471 SF | Typical Floor Size | 21,000 SF |
| Property Type | Multifamily (Condo) | Year Built | 1977 |
| Property Subtype | Apartment | Lot Size | 1.94 AC |
| Building Class | B | Parking Ratio | 0.9/1,000 SF |
| Floors | 42 | ||
| Zoning | X-2 | ||
| Total Building Size | 663,471 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 42 |
| Typical Floor Size | 21,000 SF |
| Year Built | 1977 |
| Lot Size | 1.94 AC |
| Parking Ratio | 0.9/1,000 SF |
| Zoning | X-2 |
Amenities
Site Amenities
- Controlled Access
- Fitness Center
- Pool
- Sauna
- Security System
- Grill
- Elevator
- Lounge
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 130 | - | 464 |
| 1+1 | 399 | - | 770 - 852 |
| 2+2 | 136 | - | 1,081 - 1,897 |
1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
