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Waikiki's legal short-term rental window is closing. Island Colony remains one of the last buildings on Oahu still zoned to capitalize on it, and this 16th-floor residence sits in the coveted 03 stack on the Diamond Head side, where units run cooler, lanais sit deeper, and the city's noise falls away. Mountain, canal, and skyline views fill the frame. The interior is immaculately renovated—turn-key from day one. Walk in, hand the keys to a manager and start collecting, or run it yourself for added income. The building has been re-piped with new drain lines and fitted with fire sprinklers, eliminating two of the capital expenditures that scare investors off older buildings. Five minutes reaches world-famous Waikiki Beach, the International Market Place, and nightlife found only on Oahu. The 6th-floor amenity deck holds the pool, hot tub, sauna, gym, and BBQ area—everything a guest could want for their island stay. For the investor who has watched Honolulu tighten the rules and wants in before the door fully closes, this is the asset and the Diamond Head side is the side to own.