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    The Largest CRE Database in the US with Over 1 Million Listings

    56-1081 Kamehameha Hwy Kahuku, HI 96731

    Sponsored
    For Sale
    Under Contract
    $28,800,000

    MULTI_FAMILY - Kahuku, HI

    Days on Market:
    26
    Last Refresh:
    Feb 8 at 9:06 am

    Property Features for 56-1081 Kamehameha Hwy

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    APN
    1-5-6-003-026-0000
    Parking
    9
    Parking features
    Open

    Utilities

    Utilities
    Water Available
    Sewer type
    Cesspool
    Water front
    1

    Building Details

    Year built
    1950
    Floors in Building
    1
    Number of units
    3
    Building materials
    Single Wall, Wood Frame

    We can help!

    Listing Contact
    Ralph S Gray
    Ralph S Gray

    Hawaii Homes International (808) 949-0020

    Listing agent Ralph S Gray (808) 949-0020 License #RS-57803

    Listing date Jan 14, 2026

    MLS# 202509500 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.

    Learn more

    Property Insight Report

    Overview

    Oceanfront Ranch on Oahu's North Shore

    This 170-acre ranch or farm is located on Oahu's North Shore, offering over 1/3 mile of oceanfront and beachfront. Situated next to Turtle Bay Resort, which is undergoing expansion with a new hotel and custom homes by The Ritz-Carlton, this property is one of the largest oceanfront tracts available in Hawaii. It is bordered by two championship golf courses to the west and a bird sanctuary to the east, providing privacy and seclusion. The property includes over 2 miles of sandy beach to the east, fronting the bird sanctuary. Zoned AG2, the land is suitable for a private beachfront horse ranch, farm, aquaculture business, or other agricultural ventures. The sale encompasses 11 parcels (011, 019, 020, 021, 022, 024, 026, 030, 031, 046, and 049), three homes, and several other structures. Access is available from Kamehameha Hwy and Marconi Road. This oceanfront property presents potential as a family legacy property, ocean laboratory, university facility, or small farms subdivision.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Marine Agrifuture, LLC Seafood Farm

    Map

    City
    Kahuku
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.971057
    Latitude
    21.703853

    FAQs

    What type of property is this?
    Farm - 170-acre ranch with over 1/3 mile of stunning oceanfront.
    Where is this farm located?
    The property is located at 56-1081 Kamehameha Hwy Kahuku, HI.
    What is the asking price?
    The asking price for this property is $28,800,000.
    What are key features of this property?
    This property features: - 170-acre oceanfront property on Oahu's North Shore offering over 1/3 mile of beachfront.; - AG2 Zoning allows for various uses including a horse ranch, farm, or aquaculture business.; - Located next to Turtle Bay Resort (recently purchased by The Ritz-Carlton), 2 Championship Golf Courses, and a bird sanctuary.
    (808) 295-0704
    Request Owner's contact information
    56-1081 Kamehameha Hwy Kahuku, HI 96731
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    Kahuku, HI 96731
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    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
    56-1081 Kamehameha Hwy Kahuku, HI 96731
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    We can help!
    Listing Contact
    Ralph S Gray
    Ralph S Gray
    Real Estate License ID: RS-57803
    (808) 295-0704
    Learn more
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