Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers

    41-51 Hinalea Street Waimanalo, HI 96795

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,790,000

    MULTI_FAMILY - Waimanalo, HI

    Property size:
    5,704 SF
    Lot size:
    0.26 Acres
    Price / SF:
    $489/SF
    Added:
    May 5, 2026
    Days on Market:
    2
    Last Refresh:
    May 6 at 8:06 pm

    Property Features for 41-51 Hinalea Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    10
    Parking features
    Open
    Appliances
    Dryer, Washer
    Standard status
    Active
    APN
    1-4-1-006-040-0000
    Size
    5,704 SF
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7848

    Utilities

    Utilities
    Water Available
    Sewer type
    Septic Tank
    Water source
    Public

    Building Details

    Year built
    2015
    Floors in Building
    2
    Number of units
    2
    Building materials
    Double Wall, Stone, Wood Frame

    We can help!

    Listing Contact
    Lucy Liu Shen

    Listing agent Lucy Liu Shen License #RS-77203

    Listing office eXp Realty 6600 Kalanianaole Hwy. Unit 114, Honolulu, HI

    Listing date May 5, 2026

    MLS# 202608942 Listing URL

    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.

    HighLights

    • Steps from Waimanalo Beach: Enjoy unparalleled access to a world‑famous white sand beach.
    • Spacious Living: Benefit from 5704sf of living space on an 11,250sf lot, ideal for large families or rental opportunities.
    • Newly Built Main House: Features a 3811sf, 2‑story house built in 2015.
    • Separate Ohana Unit: Includes a 1893sf, 1‑story Ohana unit.
    • Rental Income Potential: High rental demand due to proximity to the beach.
    • Upgraded Features: Gated property, metal roof, hardwood floors, granite & quartz countertops.

    Overview

    Spacious Multi-Family Near Waimanalo Beach

    This multi-family property presents a rare opportunity for either family living or rental investment. Located a short distance from Waimanalo beach, the property features 5704 square feet of living space with 6 private entrances on an 11,250 square foot lot. The property includes a two-story house built in 2015, offering 3811 square feet, plus a one-story Ohana unit with 1893 square feet. The gated property includes 11 bedrooms, 8 full bathrooms, and office space. The property has unobstructed mountain views. There are 2 kitchens and 2 wet bars. The main living room features an 11-foot ceiling, while other areas have 9-foot ceilings. Upgrades include a lanai, auto metal gate, natural stones, metal roof, solid wood cabinets, double-door entries, hardwood floor, granite and quartz countertops, and a quartz staircase. The property may be suitable for rental, given its proximity to the beach.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Map

    City
    Waimanalo
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.701478
    Latitude
    21.33793

    Nearby Similar for Sale

    • $10,500,000

      Waimanalo Multi-Tenant Retail Center

      Value-add retail center in Waimanalo with leasable area.
      41-1537 Kalanianaole Highway, Waimanalo, HI 96795
      View Details
    • $5,950,000
      3,456 SF

      Waimanalo Equestrian Center For Sale

      8.9 acre equestrian center with residences and business opportunities.
      41-569 MAKAKALO ST, Waimanalo, HI 96795
      View Details
    • Contact for pricing
      3 SF

      Waimanalo Nursery on 3.10 Acres

      Fee simple nursery property on 3.10 acres in Waimanalo.
      41-695 Kaulukanu S, Waimanalo, HI 96795
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Large multi-family property near the beach, ideal for living/rental.
    Where is this multifamily property located?
    The property is located at 41-51 Hinalea Street Waimanalo, HI.
    What is the asking price?
    The asking price for this property is $2,790,000.
    What are key features of this property?
    This property features: Steps from Waimanalo Beach: Enjoy unparalleled access to a world‑famous white sand beach.; Spacious Living: Benefit from 5704sf of living space on an 11,250sf lot, ideal for large families or rental opportunities.; Newly Built Main House: Features a 3811sf, 2‑story house built in 2015.
    (808) 358-2021
    We can help!
    Listing Contact
    Lucy Liu Shen
    Real Estate License ID: RS-77203
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    41-51 Hinalea Street, Waimanalo, HI 96795
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!