Mixed-Use Commercial Building with
48-5416 KUKUIHAELE RD Honokaa, HI 96727
48-5416 KUKUIHAELE RD, Honokaa, HI, 96727
$780,000
For Sale
$780,000
SINGLE_FAMILY - Honokaa, HI
Property Size2,784 SF
Lot Size0.24 Acres
Price / SF$280.17
Days on Market18
Property Features for 48-5416 KUKUIHAELE RD
General Information
- Property type
- Residential
- Property subtype
- Retail
- Zoning
- CN-10
- Bedrooms
- 1
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 2, Bedroom 1, Bathroom 1
- Parking features
- Assigned
- Security features
- Security System
- Interior features
- ADA Accessible, ADA Compliant, Private Restroom, Track Lighting
- Exterior features
- Lighting
- Appliances
- Dryer, Freezer, Indoor Grill, Microwave, Range, Refrigerator, Washer
- Standard status
- Active
- APN
- 3480070310000
- Size
- 2,784 SF
- Lot size
- 0.24 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 4080
Utilities
- Utilities
- Water Available
- Sewer type
- Septic Tank
- Heating system
- Zoned
- Cooling system
- Window Unit(s), Wall/Window Unit(s), Zoned
- Water source
- Public
Building Details
- Year built
- 1925
- Floors in Building
- 1
- Flooring type
- Carpet, Laminate
Listing Agency
Kohala Coast Properties
(808) 886-6600
250 Waikoloa Beach Dr, #C-5, Waikoloa, HI
Listed by
Kit Muhs
(808) 987-5426
Added: Jul 1 Checked: Jul 18 at 12:06 pm
MLS# 731093
Copyright © 2026 Hawaii Information Service. 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.
This historic commercial property dates to 1925 and is a well-preserved Hawaiian plantation-style building largely constructed of koa and redwood. The layout includes a retail storefront with an attached small cafe, a separate office space, and a 1-bedroom/1-bath furnished apartment. The building is currently used as Waipi’o Valley Artworks with an attached grab-and-go cafe, while the adjacent office is leased to an esthetician’s clinic and the apartment is leased to a full-time tenant.
The property is on a 10,479 square foot parcel and is located a short distance from Honokaa town. It is about 1/2 mile from the Waipi’o Valley overlook. Zoning is CN-10.
Recent improvements include a septic system conversion from a cesspool (2011), new air conditioning units in the gallery (2024), extensive electrical upgrades including two new Energy Plus electric meters (2025), and updated cafe finishes and equipment (2023–2025). Bathroom 1 was updated to ADA requirements in 2024, and the apartment received new furnishings and appliances in 2023–2025. The Waipi’o Valley Artworks business is for sale separately; this offering is for the real estate (building and land) only.
The property is on a 10,479 square foot parcel and is located a short distance from Honokaa town. It is about 1/2 mile from the Waipi’o Valley overlook. Zoning is CN-10.
Recent improvements include a septic system conversion from a cesspool (2011), new air conditioning units in the gallery (2024), extensive electrical upgrades including two new Energy Plus electric meters (2025), and updated cafe finishes and equipment (2023–2025). Bathroom 1 was updated to ADA requirements in 2024, and the apartment received new furnishings and appliances in 2023–2025. The Waipi’o Valley Artworks business is for sale separately; this offering is for the real estate (building and land) only.
Key Highlights
- Commercial property on a 10,479 sq. ft. parcel with retail/storefront, attached cafe, separate office, and a 1‑BR/1‑BA apartment
- Built in 1925; largely constructed of koa and redwood in a plantation‑style building
- Leased mix: art gallery tenant, attached cafe, office leased to an esthetician’s clinic, and the 552 sq. ft. furnished apartment currently leased
Local Financial Insights For Specialty Retail
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 | $93.5k | $33.60 |
| − Vacancy | −$4.9k | −$1.75 |
| EGI | $88.7k | $31.85 |
| − OpEx | −$22.2k | −$7.96 |
| NOI | $66.5k | $23.89 |
2,784 SF · lease $33.60/SF/yr · vacancy 5.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$950.1K
$831.4K – $1.11M
NOI $66,509 @ 7.0% cap · market cap 8.53%
Second Best
Retail
$859.0K
$751.6K – $1.00M
NOI $60,130 @ 7.0% cap · market cap 7.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Waipi'o Na'alapa Stables
Stable
Waipio Valley Artworks
Tourist Attraction
We Buy Your ...
Real Estate Agency
Waipio Valley Shuttle
Freight Service
FAQs
What type of property is this?
Storefront property - Historic 1925 storefront building includes an attached cafe, separate office space, and a leased furnished apartment.
Where is this storefront property located?
The property is located at 48-5416 KUKUIHAELE RD Honokaa, HI.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Commercial property on a 10,479 sq. ft. parcel with retail/storefront, attached cafe, separate office, and a 1‑BR/1‑BA apartment; Built in 1925; largely constructed of koa and redwood in a plantation‑style building; Leased mix: art gallery tenant, attached cafe, office leased to an esthetician’s clinic, and the 552 sq. ft. furnished apartment currently leased
