Rare investment opportunity featuring four detached single-family homes on an R-5 zoned lot. Ideal for investors, 1031 exchange buyers, or multi-generational living, this versatile property combines steady cash flow, privacy, and long-term value creation. The property includes two 3-bedroom and two 2-bedroom residences. Each home boasts its own private fenced yard and dedicated parking, providing tenants with single-family independence. Operating expenses remain exceptionally low as tenants pay all utilities—including water, sewer, gas, and electricity. Turnkey performance meets huge upside. Units A (3-bed) and B (2-bed) were renovated in 2025, commanding top-of-market rents. Currently operating at a 5.06% cap rate on $74,640 in annual income, bringing below-market units to prevailing rates unlocks an extra $15,600 annually, pushing the potential cap rate to 6.12%. Don't miss this well-maintained, high-yield asset!
Single-familyProperty Type
1938Year Built
0.51 acresLot Size
$526Price/Sq.Ft.
8 spacesParking
Listed by Jared Miyamoto• Asian Pacific Investments LLC
Greater Wai'anae, located between Kaʻena Point State Park and Nānākuli, is a coastal and mountain-framed Waianae neighborhood with broad sandy beaches and a rugged ridgeline backdrop. The neighborhood’s character concentrates around Farrington Highway near Waiʻanae Mall, where plate-lunch counters, local markets, and small service storefronts set a practical, sun-and-salt rhythm. Pillars include the Waiʻanae Coast Comprehensive Health Center, the Waiʻanae Boat Harbor, and the Waiʻanae Mall. Low-slung homes and apartment clusters sit along long blocks that open toward the ocean. Beach parks and boat ramps shape daily routines, while the Waiʻanae Range keeps the horizon close. Sunset light and trade winds define the streetscape from morning to late day.
Provided by Walk Score and Local Logic
Offer insights
84-916 Hanalei St · $1,400,000
$1.4M and above
75% chance or better to win
Why $1.4M+ is a strong offer
DAYS ON MARKET
41 days
The average home goes pending in 65 days.
SALE-TO-LIST
99.4%
Most homes are selling 1% below list price.
About offer insights
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Interior features
Unfurnished
Vinyl flooring
Updated/remodeled; average condition
Bathrooms
4 full bathrooms
Flooring
Vinyl
Exterior features
Level topography
Paved road access
Common areas maintained by association
Home design
Single-story
Fee simple ownership
R-5 Residential zoning
Parking
Carport
Three or more parking spaces
On-street parking
Total of 8 parking spaces
Construction
Built 2025 (effective year)
Single wall and wood frame construction
Asphalt shingle roof
Utilities
Natural gas available
High-speed internet available
Phone service available
Sewer available
Public water available
HOA & community
Association fee covers common areas
Financial info
Total actual rent (multi-unit): $7,979
Other
Lot area reported as 22,000 (unit not displayed)
Electricity and solar
View estimated energy costs and solar savings for this home
Rare investment opportunity featuring four detached single-family homes on an R-5 zoned lot. Ideal for investors, 1031 exchange buyers, or multi-generational living, this versatile property combines steady cash flow, privacy, and long-term value creation. The property includes two 3-bedroom and two 2-bedroom residences. Each home boasts its own private fenced yard and dedicated parking, providing tenants with single-family independence. Operating expenses remain exceptionally low as tenants pay all utilities—including water, sewer, gas, and electricity. Turnkey performance meets huge upside. Units A (3-bed) and B (2-bed) were renovated in 2025, commanding top-of-market rents. Currently operating at a 5.06% cap rate on $74,640 in annual income, bringing below-market units to prevailing rates unlocks an extra $15,600 annually, pushing the potential cap rate to 6.12%. Don't miss this well-maintained, high-yield asset!
HiCentral MLS #202614927
Aug 25, 2026
Price Changed
$1,400,000
$526/sq ft
Aug 3, 2026
Listed
$1,475,000
$554/sq ft
HiCentral MLS #202512790
Aug 1, 2026
Listing Removed
—
May 9, 2026
Price Changed
$1,500,000
$563/sq ft
Feb 12, 2026
Relisted
—
Oct 24, 2025
Contingent
—
Sep 24, 2025
Price Changed
$1,550,000
$582/sq ft
Aug 2, 2025
Listed
$1,600,000
$601/sq ft
RENTALBEAST #1
Dec 15, 2025
Rental Removed
$3,000
$1/sq ft
Oct 10, 2025
Listed for Rent
$3,000
$1/sq ft
HiCentral MLS #201804179
Apr 12, 2018
Sold
$875,000
$329/sq ft
Feb 12, 2018
Listed
$850,000
$319/sq ft
Year
Property tax
Land + Additions
Assessment*
2022
$3,374 (+14.7%)
$837,900 + $126,000
$963,900
2021
$2,942 (+4.8%)
$837,900 + $126,000
$963,900
2020
$2,807 (+12.9%)
$650,500 + $190,000
$840,500
2019
$2,487 (−2.1%)
$584,300 + $217,600
$801,900
2018
$2,539 (−3.3%)
$628,400 + $82,100
$710,500
2017
$2,625 (+15.5%)
$551,300 + $174,200
$725,500
2016
$2,272 (+10.7%)
$540,200 + $209,700
$749,900
2014
$2,052 (+9.3%)
$374,900 + $253,700
$628,600
2013
$1,877 (+7.8%)
$308,700 + $277,600
$586,300
2012
$1,741
$253,600 + $282,600
$536,200
Public record
Public record
Zoning
Beds
3
Baths
1
Stories
1
Lot width
—
Lot depth
—
Lot size
0.51 Acres
Year renovated
1971
Finished Sq. Ft.
638
Unfinished Sq. Ft.
—
Total Sq. Ft.
638
Year built
1938
Style
Single Family Residential
County
Honolulu County
APN
1 8 4 015 003 0000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Mar 9, 2023.
R-5
Residential District 5
The purpose of the Residential District is to allow for a range of residential densities. The primary use shall be detached residences. Other types of dwellings may also be allowed, including zero lot line, cluster and common wall housing arrangements. Nondwelling uses that support and complement residential neighborhood activities shall also be permitted. The intent of the R-7.5, R-5 and R-3.5 districts is to provide areas for urban residential development. These districts would be applied extensively throughout the city.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Infrastructure-Other
Public service
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
Fire Factor
We're working on getting current and accurate fire risk information for this home.
Heat Factor
We're working on getting current and accurate heat risk information for this home.
Wind Factor
We're working on getting current and accurate wind risk information for this home.
1/10 Air Factor
Minimal risk of unhealthy air over next 30 years
Provided by First Street
Historical weather
Waianae, HI • 96792
Average low and high temperatures (°F)
78
68
78
67
79
69
81
69
82
71
84
73
85
74
86
75
86
74
85
74
82
72
80
70
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
89/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
7.5 hrs
6.5 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 84-916 Hanalei St
$1,334,397
$66K under list price of $1.40M
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $599K to $1.6M.