As you consider where you want to retire as a senior, the cost is most likely at the top of your list of concerns. This is coming from a listing agent who heard the concerns of seniors visiting my open house at 1330 Ala Moana Blvd #1908. If you are on a budget, you need to find a place to live that allows you all of the comforts and amenities of retirement without breaking the bank check.
Living in Kakaako
The Kakaako neighborhood might be a nice choice to the seniors who recently sold or prepare to sell their large single-family house to downsize to a 2-bedroom condo.
First, this neighborhood is convenient for seniors since it’s surrounded by the best shopping, dining, services, and entertainment, etc. nearby without driving. Second, there are tons of new and updated luxury development buildings that can be chosen.
For Sale in Kakaako
As an example listing: 1330 Ala Moana #1908, listed at $1,080,000 FS (MLS# 212023633).
This is a 2 bedroom, 2 bathroom, 2 parking luxury condo unit on the 19th floor, east cool side of Nauru Tower with a fantastic ocean view and views of the yacht club, Ala Moana Park, magical island, and the Waikiki coastline. Total living square footage, including a large lanai, is 1,535 sq ft. pretty much like a single-family house. Each bedroom has its own very private space, closets, and bathroom.
Read more of my blogs about Nauru Tower:
Seniors can do their morning jog in Ala Moana Beach Park. After morning exercise, go to Ala Moana shopping mall for breakfast or coffee, or shop around in Ward Village. Or just stay in the building to play tennis or go swimming.
At my open house at Nauru Tower #1908, most Seniors raised questions to me is how to pay their relatively higher monthly maintenance fee when they buy it.
Living Together and Sharing Costs
There is a trend across the world for seniors — a lot of seniors choose a very comfortable lifestyle where they retire and live together and share costs. These seniors might be lifetime good friends, siblings, or relatives, who live together, share similar lifestyles and interests, and share living costs like condo maintenance fees, property taxes, utilities, etc.
Like the above listing, if one couple is able to purchase it, then find another couple who is looking to live in Kakaako and willing to share the monthly cost. The sharing cost roughly will be around $1,000 – $1,500 monthly. It is much cheaper than renting a such luxury condo of a studio or 1 bedroom, 1 bath condo unit in the same neighborhood. According to MLS records, studio or 1 bedroom / 1 bathroom condo unit in a luxury residence in Kakaako monthly rent currently is $2,500 up.
Seniors living together can realize their dream to live in a place with comfort and amenities without breaking the bank.