Honolulu’s Gold Coast is a scant half-mile stretch of oceanfront high-rises at the foot of Diamond Head. You may think that Hawaii has the same unending tonnage of oceanfront high-rises seen around Florida, not true. Within Honolulu, there are just 18 oceanfront residential high-rises. Seventeen are on the Gold Coast, and one in Waikiki. None are newer than 1970, with most dating to the 1950s and 1960s. Typical condos sell between $1,500-to-$2,200-plus per square foot.

Built in 1958, the 12-story Tropic Seas isn’t the toniest building on the street, but that’s where bargains reside. Unit 203 is just such a bargain. The one-bedroom unit has 618 square feet with an additional 121-square-foot lanai. You know there’s a renovation needed when the first listing photo showing the interior is the 13th of 19 photos. But at $499,000, that’s $675 a square foot.

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