Ocean Club, Wild Dunes

Ocean Club is a 102-unit oceanfront condominium at the northeastern tip of Wild Dunes Resort on Isle of Palms. Built in 1986 across two five-story buildings on eight private gated acres, it offers the largest standard units in Wild Dunes — predominantly 3BR/3.5BA layouts between 1,965 and 2,257 square feet. Units trade between ~$1.6M and $2.35M. The complex is midway through a multi-building exterior renovation funded by a ~$250,000 per-unit special assessment.

• Location: Wild Dunes Resort, northeastern tip of Isle of Palms
• Address: 9510 Palmetto Dr, Isle of Palms, SC 29451
• Total units: 102 (two buildings, 5 stories each)
• Unit types: Predominantly 3BR/3.5BA; some 4BR units and two-story penthouses
• Size range: 1,965 – 2,257 sqft (standard); penthouses larger
• Price range: ~$1.6M – $2.35M (whole ownership)
• Year built: 1986 (post-Hugo reconstruction 1990–1991)
• Construction: Reinforced concrete pilings, stucco exterior
• Regime fee: $850 – $1,180/mo (varies by unit size, 2026)
• WDCA master assessment: $983/year (2026)
• Transfer fees: 2% total at closing (1% to Ocean Club + 1% to WDCA)
• Flood zone: AE (BFE 10 ft); VE transition ~250 ft east
• Parking: Covered ground-level under buildings, 2 spots per unit plus storage
• Pool: Zero-entry saltwater pool (seasonal, unheated)
• STR eligible: Yes — active rental market with 6+ management companies
• Gated: Private Ocean Club gate within Wild Dunes three-gate security
• Elevators: Two per building
• Management company: Poston & Co

Ocean Club trades in the ~$1.6M–$2.35M range for whole-ownership units. Pricing hinges on building position, floor level, renovation quality, and view orientation. One fractional (8-week share) interest traded at $376,000 in August 2025 — that is not a whole-unit sale and should not be compared to full-ownership pricing.

The $376,000 August 2025 transaction was an 8-week fractional share. At ~$176/sqft, it is not comparable to the $700–$1,041/sqft range of full-ownership sales.

The building-wide average of ~316 DOM includes fractional listings and units listed during peak renovation disruption. Individual whole-unit sales vary widely: Unit 1401 sold in 9 days, Unit 1406 in ~36 days. Unit 4209 took ~130 days and Unit 4405 took ~156 days — the latter with a ~$250K assessment payoff due at closing. Expect DOM to normalize as renovation phases complete and buyer confidence strengthens.

Ocean Club units are the largest standard layouts in Wild Dunes — every unit has direct ocean views, and most feature three bedrooms with their own bathrooms and private balconies.

The dominant layout. Each bedroom has its own bathroom and balcony access. Walk-in closets in all bedrooms. Open living and dining area. Wood-burning fireplace. In-unit washer/dryer. The current renovation is replacing all original thermal windows with impact-resistant glass. Interior finishes vary widely — some units retain original materials (wood, carpet, ceramic tile), while others have been renovated with wide plank engineered hardwood, honed marble countertops, and cypress ceilings.

At least one 4BR/4BA unit exists in the building. Two oceanfront balconies. Sleeps 10. Expect a significant premium over standard layouts.

Ocean Club's two buildings sit on eight acres with mature live oaks. Not all units are equal:

• Building 4 is the most sheltered from direct ocean exposure.
• Higher floors (4th–5th): Clear the canopy for wider sightlines and stronger rental appeal.
• End units: 2,257 sqft vs. 1,965 sqft for standard units, plus more natural light.
• Oceanfront vs. pool-side: Every unit has an ocean view, but position relative to the pool and landscaping affects the immediate outlook.

Ocean Club carries the highest total monthly cost of any standard condo in Wild Dunes when you factor in the regime fee, WDCA assessment, and the dual transfer fee structure.

The building-level regime fee ranges from $850 to $1,180 per month depending on unit size. The regime is managed by Poston & Co.

What the regime fee covers: Master insurance (property, wind, flood), building maintenance, elevator maintenance (two per building), private pool and hot tub, landscaping, security cameras, covered parking and storage, common utilities (water, sewer, trash), and reserve fund contributions.

What owners pay separately: Electricity, interior maintenance, HO-6 (walls-in) insurance, personal flood contents policy, and special assessments.

• 2026 annual assessment: $983 per dwelling
• Short-term rental access fee: $100/year (if the unit is rented)
• Assessment trend: Held at $824 from 2018 through 2022, then increased incrementally to $983 by 2026

The WDCA assessment covers community-wide infrastructure: private roads, bike paths, lagoons, security gates and staffing, the Property Owners Beach House, and administrative operations.

Buyers pay two transfer fees at closing:

• 1% to WDCA (the Real Estate Transfer Fee — half goes to the Beach Maintenance Fund, half to reserves)
• 1% to Ocean Club HOA (a building-level transfer fee)

On a $1.75M purchase, that is $35,000 in transfer fees alone. Most Wild Dunes buildings charge only the 1% WDCA transfer fee. Shipwatch and Mariners Walk add 0.5% at the regime level. Ocean Club's 1% regime-level fee is the highest building-specific transfer fee in Wild Dunes.

Club membership is not included with ownership. The Club is a separate private entity operated by the resort. Without a membership, owners can still access restaurants, the spa, marina, and golf courses at public rates.

Property taxes are the largest variable. South Carolina assesses non-owner-occupied properties at 6% of fair market value with full millage (236.2 mills in IOP, 2025). Owner-occupied primary residences are assessed at 4% with a school operating tax exemption — producing a gap of ~$18,200/year on a $1.75M property. Renting a primary residence for more than 72 days per year risks losing the 4% classification.

The multi-building exterior renovation carries a ~$250,000 per-unit special assessment that directly affects pricing, financing, and rental income.

A comprehensive exterior transformation:

• Complete replacement of exterior walls, waterproofing, and stucco
• Impact-resistant windows and sliding glass doors throughout
• Rebuilt balconies and railings
• Breezeway and lighting upgrades
• New exterior finishes

Metal roofs were replaced separately prior to this project. Hill Construction is the lead contractor.

The renovation is funded by a ~$250,000 per-unit special assessment covering all building sections. The assessment can be settled as a payoff at closing, similar to a lien. On a $1.75M purchase, this represents a ~14% cost adder beyond the sale price.

Construction runs weekday only (Monday–Friday, 8:30 AM – 5:00 PM). The phased approach means not all buildings are disrupted simultaneously, but noise and equipment affect the entire property during active phases.

The assessment balance must be resolved at closing. Request the exact amount owed, the payment structure, and whether the association financed the assessment through a loan in the resale package.

For units in completed buildings, you are buying into a recently renovated asset with a new exterior — impact windows, rebuilt balconies, new waterproofing. The major exterior capital cycle resets for 30+ years.

For financing, the renovation triggers heightened lender scrutiny. Fannie Mae treats special assessments tied to critical repairs as a potential ineligibility trigger until an engineer documents remediation. Buildings where work is complete may clear conventional underwriting more easily than buildings still under construction.

Short-term rentals are permitted and well-established at Ocean Club. The building's large 3BR/3.5BA units, covered parking, and oceanfront position generate strong nightly rates — but the high carrying costs require careful underwriting.

City of Isle of Palms: Requires a rental business license ($450 base fee on the first $2,000 of gross income, then $4.60 per additional $1,000). No cap on STR licenses and no waitlist — a 2023 referendum to cap permits failed by 54%. Occupancy limits are 2 persons per bedroom plus 2, maximum 12. A 24/7 local contact who can reach the property within one hour is mandatory. The City can revoke licenses after 5+ founded complaints per calendar year. The combined tax on short-term rental income is 14% (state, county, and city layers combined).

Wild Dunes Community Association: STRs (30 days or less) are allowed with a $100 annual rental access fee. No pets for short-term rental guests — a blanket community-wide prohibition. Owners are financially liable for guest violations ($100 first offense, $250 repeat). Rental guest gate passes must be arranged through the management company. E-bikes are prohibited for short-term renters.

Ocean Club HOA: Building-specific rules include no towels or gear on balconies (actively penalized), guest parking limited to 2 vehicles (garage reserved for owners), smoke-free property ($500 penalty), and quiet hours from 10 PM to 8 AM.

The wide summer range reflects a genuine spectrum: a lower-floor unit through a local manager at ~$460/night versus a recently renovated oceanfront unit through a national platform at $1,700/night. A well-managed 3BR realistically commands ~$800–$1,000/night during peak weeks.

A well-managed Ocean Club 3BR grossing ~$100,000–$135,000 per year is realistic. Isle of Palms condos average ~$81,000 in gross STR revenue island-wide, with a median of ~$60,000 — but Ocean Club's larger units and oceanfront position command a premium. Quality oceanfront 3BR units on the island run at roughly 60–65% annual occupancy, with peak summer weeks approaching 90%.

Multiple units are listed across six or more independent management companies. No single operator dominates — owners choose their own company, pricing strategy, and availability calendar. Management fees typically run 15–35% of gross rental income depending on the level of service.

The key management decision is whether to use the resort-affiliated program or an independent company. The resort-affiliated manager charges a higher commission but bundles full resort amenity access for rental guests (resort pools, fitness center, tennis, shuttle). Without the resort program or a Sportscard (~$2,000+/year), rental guests only have access to Ocean Club's private pool. Whether the resort access lifts revenue enough to offset the higher commission depends on your guest demographic and pricing strategy.

After management fees (~20% assumed), regime fees (~$10,200–$14,160), WDCA assessment ($983 + $100 STR fee), property taxes (~$24,800 at non-owner-occupied rates on $1.75M), STR license, insurance, utilities, and maintenance — a 3BR grossing $120,000 nets roughly $40,000–$55,000 before debt service.

That is roughly a 2.5–3.5% unlevered return on a ~$1.75M investment. The math shifts meaningfully with management company choice — the difference between 15% and 35% commissions on $120,000 gross represents ~$24,000 in annual income.

For units in buildings under active renovation, expect meaningful income loss:

• Noise only (adjacent building): ~10% reduction in shoulder/winter occupancy and rates
• Partial closure (~90 days): ~$18,000–$20,000 gross revenue loss
• Extended closure (120+ days): ~$35,000+ gross revenue loss

Building 1 units lost rental income through 2025 and into early 2026. As renovation phases through Buildings 2–4, affected units should be underwritten as non-normalized years.

Zone AE means the building sits within the 1% annual chance floodplain with determined base flood elevations. Flood insurance is mandatory for any federally backed mortgage.

Most barrier island oceanfront is mapped VE (velocity zone with breaking wave action). At Ocean Club, the VE zone begins ~250 feet east — toward the beach, not at the building. The building's elevation above the ground-floor parking level places living spaces well above the 10-foot BFE, keeping the footprint in AE rather than VE.

AE avoids the VE construction requirements (pile foundations, breakaway walls, engineer-stamped plans for any renovation). This matters for both insurance costs and the substantial-improvement threshold when units are renovated.

Master policy (included in regime fee): The association carries master property insurance covering building structure and common elements, including a master flood policy and wind/hail coverage. Master insurance is estimated to consume 30–50% of the monthly regime fee.

HO-6 (unit owner walls-in policy): Required. Covers interior improvements, personal property, liability, and loss of use. Budget $1,200–$2,500 per year.

Loss assessment coverage: Strongly recommended at $25,000–$50,000. Named-storm deductibles on coastal master policies run 2–5% of insured value — the association's out-of-pocket after a hurricane can be substantial. On a high-value building, this creates five- or six-figure exposure spread across owners.

Flood contents policy: Individual owners can purchase contents coverage. Under the NFIP, contents coverage is capped at $100,000. Non-primary-residence owners pay a $250 annual HFIAA surcharge (versus $25 for primary residences). Private flood carriers offer higher limits but are non-admitted in South Carolina and can decline renewal or exit the state. Switching back to NFIP after a lapse means losing the glidepath cap on annual increases (currently 18%/year maximum).

The CRS discount: Isle of Palms participates in FEMA's Community Rating System, providing a 25% discount on NFIP flood insurance premiums.

Ocean Club's living spaces start above the ground-floor covered parking garage, well above the 10-foot BFE. This elevation reduces flood insurance premiums under Risk Rating 2.0, which uses property-specific first-floor height rather than zone alone to price policies. Ask whether an Elevation Certificate exists for the building — it can lower the individual flood policy cost.

Buyers should review the current FIRM panel for their specific parcel.

• Zero-entry saltwater pool with in-pool fountain, surrounded by live oaks
• Hot tub among live oaks with ocean views
• Gas grills and picnic areas at pool with night lighting
• Private boardwalks to beach (steps to sand)
• Covered ground-level parking beneath buildings, 2 spots per unit
• Private storage in parking area
• Two elevators per building
• Security cameras throughout property
• Eight acres of private grounds with mature live oaks

IOP fire code prohibits charcoal, propane, and gas grills on combustible balconies or within 10 feet of combustible construction in multi-family buildings. The building-level gas grills at the pool area are the designated grilling location.

• Private roads and bike paths throughout the ~1,600-acre community
• Lagoons (fishing permitted; swimming prohibited — alligators are present)
• Property Owners Beach House (owners and their guests only — not available to rental guests)
• Gated security with 24/7 staffing at three entry points
• Trail system

The Wild Dunes Club is a separate private entity. Property ownership does not include access to:

• Resort pools (Sweetgrass, Grand Pavilion, Boardwalk, Swim Center)
• Fitness center
• Tennis (12 Har-Tru courts) and pickleball (5 courts)

Club membership tiers:

Add $34/month to any tier for fitness center access. Memberships are non-equity, non-refundable, and non-transferable — they cannot be conveyed with the property at sale. A buyer must apply and pay the prevailing initiation fee.

For rental owners: A Sportscard (~$2,000+/year, purchased by the owner) allows rental guests limited access to the Swim Center pool, Tennis Center, and Fitness Center at daily facility fees. Without a Sportscard, rental guests only have access to Ocean Club's private pool. Owners renting through the resort-affiliated manager get bundled full resort amenity access for guests as part of the management agreement.

Ocean Club sits behind two layers of gating: the Wild Dunes main gate and Ocean Club's own private security gate. Access requires a gate decal (owners) or a guest pass coordinated through a management company.

Ocean Club sits at the northeastern tip of Isle of Palms — the section most affected by the Dewees Inlet shoal-bypass system. Beach erosion here is cyclical, volatile, and requires active intervention as part of normal barrier island dynamics near an inlet.

Isle of Palms is a "drumstick" barrier island. The northeastern end is strongly influenced by sand dynamics at Dewees Inlet. Every 6–8 years, offshore shoals migrate and attach to the shoreline, bringing dramatic beach recovery. Between attachments, erosion can be severe at the ends of Wild Dunes while sand accumulates in central sections. As of early 2026, a shoal-attachment event is bringing sand to central Wild Dunes while Ocean Club's frontage remains in the erosional phase, with a combined volume deficit of ~180,000 cubic yards.

The 2026–2027 project is the largest in the island's history — up to 2.5 million cubic yards across 19,200 linear feet covering both ends of the island. Three contractors bid: Marinex Construction at $21.5M, Great Lakes Dredge and Dock at $26.0M, and Norfolk Dredging at $26.6M. Contract award is expected at the April 28, 2026 City Council meeting with construction targeting late May or early June 2026.

Under the published cost-share model (55% Wild Dunes / 45% City):

This is a WDCA community-wide assessment — separate from Ocean Club's ~$250K building renovation assessment. The Marinex low bid ($21.5M vs. projected $25–32M) improves the lower-bound scenario. Historical precedent: WDCA assessed $1,500/dwelling in 2008 and an estimated $2,300–$2,400/dwelling for the 2017–2018 project.

In 2013–2014, the Ocean Club HOA built an unpermitted wooden seawall on the beach. DHEC ordered removal and assessed a penalty of up to $750,000. After a review hearing, $639,000 was suspended, leaving $110,000 payable. The appeal was dismissed in May 2015. South Carolina's Beachfront Management Act prohibits hard structures — the only approved protection is sand nourishment and dune management.

This matter is historically resolved. Confirm through the title search and resale package that no outstanding liens remain.

Hurricane Hugo made landfall on Isle of Palms in September 1989 as a Category 4 storm with 140 mph sustained winds and storm surge reaching ~15.5 feet above mean sea level. Ocean Club was three years old.

The buildings survived structurally — the concrete pilings held against the storm surge — but damage was severe. Ground-level parking garages were entirely inundated, breakaway walls blown out. Upper floors lost roof sections, stucco cladding, and windows. The complex was uninhabitable for ~1–2 years and rebuilt during 1990–1991.

The post-Hugo reconstruction improved the building's storm resistance with modern moisture barriers, hurricane-strapped roof trusses, and new stucco systems. Many individual owners have since upgraded to impact-resistant glass — and the current building-wide renovation is now installing impact windows in every unit.

Hurricanes Matthew (2016), Irma (2017), and Dorian (2019) primarily affected Ocean Club through beach erosion rather than structural wind damage. The 2017–2018 renourishment project restored the beach after Irma-related losses, and the 2026–2027 mega-project addresses current erosion deficits.

Financing an Ocean Club unit requires a lender experienced with coastal resort condos. The building has multiple characteristics that trigger elevated scrutiny.

Ocean Club is not on HUD's FHA-approved condominium list or VA's accepted list. Zero Isle of Palms condos are FHA approved. The only Wild Dunes condo with VA acceptance is Yacht Harbor Villas.

FHA offers a Single-Unit Approval pathway that allows individual units to qualify even in non-approved projects (limited to 10% of units, or ~10 at Ocean Club). In practice, the barriers are steep:

• Active renovation with ~$250K assessment — triggers Fannie Mae's critical repairs screening
• Fractional ownership interests — 8-week shares trade in the building, raising timeshare-classification concerns
• High short-term rental activity — Isle of Palms condos have a 55% STR license rate island-wide, and Ocean Club has units across 6+ management companies
• Dual transfer fee structure — the 2% transfer fee requires transfer-fee covenant compliance validation
• Resort location — Wild Dunes' resort identity creates "primarily transient" characterization risk

The ongoing renovation creates the highest lender eligibility risk. Fannie Mae treats buildings with active critical repairs and incomplete remediation as potentially ineligible. As buildings complete renovation and obtain engineer documentation, eligibility should improve.

Additional factors lenders examine:

• Reserve fund adequacy: South Carolina does not require reserve studies or minimum funding levels. Request the most recent study (if one exists) from the resale package.
• Insurance compliance: Wind/hail deductible structure, replacement-cost adequacy, and fidelity coverage on the master policy.
• Litigation history: The DHEC seawall enforcement matter (2014–2015) should be disclosed in the condo questionnaire.

Most Ocean Club buyers use conventional financing, jumbo loans, or cash. The renovation program means some lenders may treat the project as non-warrantable during construction. Work with a lender experienced in coastal resort condos. Expect them to require a full condo questionnaire, current HOA financials, proof of renovation status by building, and master insurance documentation.

Ocean Club attracts three primary buyer profiles:

1. Vacation home buyers who want the largest standard units in Wild Dunes with covered parking, an elevator building, and a private gated compound within the resort — drawn by the eight-acre live oak grounds, the renovation, and proximity to the Links Golf Course.
2. Investment-focused buyers seeking rental income from premium 3BR oceanfront units that command ~$800–$1,000+/night in peak season, accepting the higher carrying costs as the price of a post-renovation asset.
3. Buyers riding the renovation cycle — purchasing during construction at potentially favorable prices with the expectation that completed buildings will trade higher.

• You want the most space in Wild Dunes. Ocean Club's 1,965–2,257 sqft standard units are substantially larger than Seascape (~1,252–1,801 sqft), Shipwatch (~1,084–1,616 sqft), or Port O'Call (~800 sqft). Every bedroom has its own bathroom and balcony. Covered parking is standard.
• You value the post-renovation reset. The ~$250K/unit exterior renovation resets the building exterior for 30+ years — new impact windows, rebuilt balconies, new waterproofing. Buyers who close after renovation completes on their building inherit a substantially improved asset.
• You want privacy within the privacy. Ocean Club is gated within gated — its own security gate sits inside Wild Dunes' three-gate system. Eight acres, live oaks, and a private pool compound create a distinct sense of separation from the broader resort.

• You need the renovation behind you. Buildings 2 and 3 have not yet started construction as of April 2026. That means months of weekday construction noise, equipment, and potential rental disruption. Seascape Villas and Summerhouse Villas have already completed similar exterior renovations — their renovation risk is behind them.
• STR net income is your primary motivation and you want the lowest carrying costs. After regime fees, the WDCA layer, property taxes at the 6% rate, and management commissions, Ocean Club's net yield is compressed by the high carrying cost. Port O'Call's lower purchase price and lower regime produce a stronger yield-to-cost ratio for pure investors.
• You need FHA or VA financing. Ocean Club is not approved for either program, and the current renovation, fractional interests, and resort profile make approval unlikely.

The ~$250,000 building renovation assessment is one layer of a broader cost stack. Owners are also subject to recurring WDCA beach renourishment assessments ($2,000–$7,000 per dwelling in the upcoming cycle), the annual regime fee ($10,200–$14,160), the WDCA assessment ($983), and the potential for future building-level capital needs. No other Wild Dunes building currently carries both a ~$250K/unit renovation levy and a community-wide beach assessment simultaneously.

Ocean Club commands a premium for the largest standard units, covered parking, and the double-gated compound. But the ~$250K renovation assessment is the defining variable right now. Summerhouse and Seascape have already completed similar exterior work — their renovation risk is behind them. Shipwatch's lower published regime hides a separate insurance bill. Beach Club Villas is the only Wild Dunes oceanfront with attached private garages and a regime under $600/month, but the townhome format is fundamentally different from Ocean Club's mid-rise layout. Port O'Call is the yield play — lower entry, lower fees, but 1BR-only and a fraction of the space.

What are the HOA fees at Ocean Club?

Owners pay two layers: a monthly Ocean Club regime fee of $850–$1,180 (varies by unit size, 2026) plus the $983 annual WDCA master assessment. The regime fee covers master insurance, building maintenance, elevators, pool, landscaping, parking, common utilities, and reserve contributions. At closing, buyers also pay a 1% transfer fee to Ocean Club and a 1% WDCA real estate transfer fee — 2% total transfer fees.

Can you rent Ocean Club on Airbnb or VRBO?

Yes — short-term rentals are permitted and active. Multiple units are listed across six or more management companies. Isle of Palms requires a rental business license with no cap or waitlist. Wild Dunes community rules apply: no pets for STR guests, $100 annual rental access fee, and owner liability for guest violations. The combined tax on rental income is 14%.

What flood zone is Ocean Club in?

FEMA Zone AE with a Base Flood Elevation of 10 feet. Flood insurance is mandatory for federally backed mortgages. The VE zone (velocity wave action, BFE 11 ft) begins ~250 feet east toward the ocean. Isle of Palms participates in FEMA's Community Rating System, providing a 25% discount on NFIP premiums. Buyers should review the current FIRM panel for their specific parcel.

What is the average price per square foot at Ocean Club?

Whole-unit sales range from ~$700/sqft to ~$1,040/sqft. The wide spread reflects unit size, floor level, renovation quality, and building position. The building average is ~$750/sqft when excluding fractional-share transactions.

Is Ocean Club FHA or VA approved?

Ocean Club is not on HUD's FHA-approved condominium list or VA's accepted list. FHA's Single-Unit Approval pathway exists in theory, but the resort profile — active STR market, fractional ownership interests, dual transfer fee structure, and the ongoing renovation program — makes approval unlikely. Most buyers use conventional, jumbo, or portfolio loans.

What is Ocean Club like in the off-season?

November through February is quiet. Rental occupancy drops to ~35–40%, nightly rates fall to $207–$304, and the pool is seasonal. Wild Dunes remains gated and staffed year-round. Restaurants, the marina, and the Property Owners Beach House stay open. Snowbird monthly rentals at ~$6,500/month are common. Off-season is when the live oak-shaded grounds and uncrowded beach access are at their best.