King Kalakaua Plaza Parking Condominium offers an exceptionally rare opportunity to acquire a modernized, fee simple parking asset in the heart of Waikiki. Located within the newly redeveloped King Kalakaua Plaza at the Marriott Vacation Club Waikiki, the two-level subterranean garage benefits from direct pedestrian access to surrounding retail, hospitality, and resort uses along world-renowned Kalakaua Avenue. The property features controlled ingress and egress from Kalaimoku Street, providing efficient circulation and operational control. Comprehensive renovations have transformed the garage into a secure, well-lit, income-oriented facility with upgraded parking software, QR-code access, valet connectivity, and new LED lighting. Waikiki’s dense hospitality environment, limited parking supply, and high barriers to entry support consistent demand and long-term value. With built-in usage from hotel guests, retailers, and visitors, this asset presents a compelling opportunity for investors seeking durable income and appreciation in one of the most supply-constrained resort markets in the United States.