"Welcome to Waikiki Season 2" depicts the friendships, love and dreams of young people. Lee Joon-Ki (Lee Yi-Kyung) is an unpopular actor. He runs the guest house Waikiki, but the guest house is facing bankruptcy. To revive the guest house, Lee Joon-Ki drags his friends Cha Woo-Sik (Kim Sun-Ho) and Kook Ki-Bong (Shin Hyun-Soo), who all graduated from the same high school, to invest in the guest house. Cha Woo-Sik is a picky person and he wants to become a singer. Due to Lee Joon-Ki, he puts all his money into Waikiki. Kook Ki-Bong used to be a promising baseball player, but he now plays in the minor leagues. Due to Lee Joon-Ki, he also puts all his money into Waikiki. Along with these 3 men, Han Soo-Yeon (Mun Ka-Young), Kim Jung-Eun (Ahn So-Hee) and Cha Yoo-Ri (Kim Ye-Won) all begin to live at Waikiki.