1128 Alohi Way Honolulu, HI 96814
MULTI_FAMILY - Honolulu, HI
Property Features for 1128 Alohi Way
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 6
- Parking features
- Open, Assigned
- Standard status
- Active
- APN
- 1-2-3-011-007-0000
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Annual Amount
- 6649
Utilities
- Utilities
- Water Available
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1950
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Double Wall, Masonry, Stucco, Wood Frame
Listing agent Thomas S Kiyabu License #RS-32870 (808) 372-4176
Listing office Coldwell Banker Island Prop 3465 Waialae Avenue #101 & 102, Kihei, HI (808) 875-7000
Listing date May 20, 2026
Copyright © 2026 HiCentral MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is at 1128 Alohi Way in Honolulu, near the Kakaako area and within reach of Ward Village and Ala Moana Center. It is also positioned close to Kaiser Permanente, beaches, dining, shopping, medical facilities, schools, and freeway access, supporting convenient day-to-day movement for residents.
The three-residence setup offers practical flexibility for investors and owner-occupants seeking separate spaces under one ownership structure. It also presents a potential redevelopment or reconfiguration path, as the remarks indicate the site may be combined with a neighboring duplex on an additional 6,000 sq. ft. lot to create approximately 12,000 sq. ft. of contiguous land, with development possibilities to be verified by the buyer.
Key Highlights
- Multi‑dwelling property on approximately 6,000 sq. ft. of level land with 3 separate living areas and multiple income streams.
- Unit mix: upstairs 3BR/2BA (~1,241 sq. ft.) plus downstairs 3BR/2BA (~1,201 sq. ft.) plus attached 3BR/2BA ADU built in 1997 (~1,128 sq. ft.).
- Total configuration includes approximately 9 bedrooms and 6 bathrooms across the 3 units.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.2k | $30.60 |
| − Vacancy | −$7.7k | −$2.15 |
| EGI | $101.6k | $28.45 |
| − OpEx | −$30.5k | −$8.53 |
| NOI | $71.1k | $19.91 |
