Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    705 Hoawa St Honolulu, HI 96826

    Sponsored
    For Sale
    $4,850,000

    MULTI_FAMILY - Honolulu, HI

    Days on Market:
    21
    Last Refresh:
    Jan 29 at 11:06 am

    Property Features for 705 Hoawa St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    1-2-7-005-036-0000
    Parking
    12
    Parking features
    Open, Assigned

    Utilities

    Utilities
    Water Available
    Water source
    Public

    Building Details

    Year built
    1958
    Floors in Building
    2
    Number of units
    20
    Building materials
    Hollow Tile, Concrete, Single Wall, Wood Frame

    We can help!

    Listing Contact
    Brian Chua

    Five Star Realty Inc (808) 382-6871

    Listing agent Brian Chua (808) 382-6871 License #RB-21314

    Listing date Jan 9, 2026

    MLS# 202525870

    Copyright © 2026 Honolulu Board of REALTORS®. 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

    Honolulu Multifamily Investment Opportunity

    This offering features two apartment buildings situated on a 14,607 square foot corner lot located at Kapiolani Boulevard and Hoawa Street, near Isenberg in Honolulu. The property consists of 20 total units, with 10 units per building, all configured as two-bedroom apartments. There are 12 parking stalls included. The property is currently generating a monthly rental income of $29,865. The units are rented at below-market rates, presenting a value-add opportunity through renovation and rental optimization. The property is located on a corner lot on Kapiolani Blvd. Tax records reflect the property address as 705 Hoawa Street, Honolulu, HI 96826, with the front building addressed at 2304 Kapiolani Boulevard, Honolulu, HI 96826. The property is being sold As-Is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Honolulu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.828524
    Latitude
    21.288477

    Nearby Similar for Sale

    • $3,900,000

      Four Homes Near Diamond Head

      Rental investment property near Kapiolani Park and Kahala Mall.
      3331 Hayden St, Honolulu, HI 96815
      View Details
    • $1,950,000
      2,799 SF

      Honolulu Multifamily Property Near University

      Renovated multifamily property near University of Hawaii and Waikiki.
      3741 Harding Ave, Honolulu, HI 96816
      View Details
    • $1,544,000
      1,504 SF

      Two Detached Homes in Manoa

      Two detached homes on a corner lot near UH.
      1708 Nakiu Pl, Honolulu, HI 96822
      View Details
    • $21,000,000

      Honolulu Commercial Land with Improvements

      76+ acre Honolulu property with restaurant, theater, and retail.
      3717 Manoa Rd, Honolulu, HI 96822
      View Details
    • $2,200,000

      Honolulu Multi-Family Home with Income

      Multi-generational property with remodeled main home and separate Ohana dwelling.
      1686 Lewalani Dr, Honolulu, HI 96822
      View Details
    • $21,000,000

      Versatile Land in Honolulu

      76+ acres suitable for agriculture, restaurant, retail, or cultural attractions.
      3737 Manoa Rd, Honolulu, HI 96822
      View Details
    • $1,589,000

      Honolulu Multifamily Investment Opportunity

      Well-maintained Honolulu multifamily property with income upside potential.
      1671 Citron St, Honolulu, HI 96826
      View Details
    • $1,544,000

      Two Detached Homes Near UH

      Two detached homes on a corner lot near the University of Hawaii.
      1708 Nakiu Pl, Honolulu, HI 96822
      View Details
    • New
      $2,688,000

      Honolulu Multifamily Property Near Iolani School

      Desirable multifamily property with development potential near Iolani School.
      534 Kamoku St, Honolulu, HI 96826
      View Details
    • New
      $1,800,000
      2,352 SF

      Honolulu Multi-Family Restoration Opportunity

      Restore or rebuild on a large lot in Nuuanu neighborhood.
      1727 Nuuanu Ave, Honolulu, HI 96817
      View Details
    • $4,895,000

      Waialae Mixed-Use Investment Opportunity

      Mixed-use property in Waialae neighborhood with value-add potential.
      3427 Waialae Ave, Honolulu, HI 96816
      View Details
    • $2,988,000

      Renovated Multifamily Property in Honolulu

      Completely renovated 12-unit multifamily property with strong income potential.
      815 Lopez Ln, Honolulu, HI 96817
      View Details

    FAQs

    What type of property is this?
    Apartment building - 20-unit apartment buildings on a corner lot with value-add potential.
    Where is this apartment building located?
    The property is located at 705 Hoawa St Honolulu, HI.
    What is the asking price?
    The asking price for this property is $4,850,000.
    What are key features of this property?
    This property features: - Cash-flowing 20-unit apartment building on a corner lot.; - Significant upside potential through renovation and rental optimization.; - Prime location on Kapiolani Boulevard near Isenberg.
    (808) 255-3839
    Request Owner's contact information
    705 Hoawa St Honolulu, HI 96826
    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.
    705 Hoawa St
    Honolulu, HI 96826
    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
    705 Hoawa St Honolulu, HI 96826
    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

    We can help!
    Listing Contact
    Brian Chua
    Real Estate License ID: RB-21314
    (808) 255-3839
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.