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    84-924 Hana St Waianae, HI 96792

    Sponsored
    For Sale
    Under Contract
    $599,500

    MULTI_FAMILY - Other - Waianae, HI

    Property size:
    1,800 SF
    Days on Market:
    52
    Last Refresh:
    Feb 3 at 2:06 am

    Property Features for 84-924 Hana St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active Under Contract
    Rooms
    Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 1
    Bedrooms
    5
    Bathrooms
    3
    APN
    1-8-4-014-082-0000
    Parking
    4
    Parking features
    On Street, Driveway, Boat, Carport
    Pets allowed
    Call
    Interior features
    Bedroom on Main Level, Full Bath on Main Level
    Fencing
    Fenced
    Size
    1,800 SF

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    Building Details

    Year built
    1991
    Floors in Building
    2
    Flooring type
    Vinyl
    Building materials
    Double Wall, Wood Frame
    Architectural style
    Other

    We can help!

    Listing Contact
    Melody L Rutherford
    Melody L Rutherford

    Locations LLC

    Listing agent Melody L Rutherford (808) 690-9555 License #RS-71261

    Listing date Dec 14, 2025

    MLS# 202527500 Listing URL

    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

    Legal Duplex: Income Opportunity

    This legal duplex in Waianae presents an income opportunity, boasting a current capitalization rate of 5.36%. The property features two units: an upstairs unit with 3 bedrooms and 2 bathrooms spanning 1,152 square feet, characterized by vaulted ceilings, and a downstairs unit offering 2 bedrooms and 1 bathroom within its 648 square feet. A large carport area is available, and the property sits on an expansive 7,500 square foot fenced lot with mountain views. Recent refurbishments include a 228 square foot lanai and stairs, new exterior paint, and new luxury vinyl plank flooring in the upstairs unit. Currently, the tenants pay a total of $3,400 per month, with the 3-bedroom unit renting for $1,900 and the 2-bedroom unit for $1,500. The upstairs tenants are on a month-to-month agreement and wish to remain. The downstairs tenant's lease is active until April 30, 2026. Each unit has separately metered electrical and leased PV panels with a Net Energy Metering (NEM) agreement. There is one water meter and one water heater for the property. The location on Hana Street offers convenient access without a flag driveway. Beaches, Longs Drugs, and Makaha Elementary School are located within a few blocks.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Waianae
    County
    Honolulu
    State
    Hawaii
    Longitude
    -158.211161
    Latitude
    21.464255

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    FAQs

    What type of property is this?
    Duplex - Waianae duplex with strong income potential and mountain views.
    Where is this duplex located?
    The property is located at 84-924 Hana St Waianae, HI.
    What is the asking price?
    The asking price for this property is $599,500.
    What are key features of this property?
    This property features: - Legal duplex boasting a 5.36% CAP rate, a fantastic income opportunity.; - Features two units: a spacious 3 bed/2 bath (1,152 sq ft) and a comfortable 2 bed/1 bath (648 sq ft).; - Enjoy the expansive 7,500 sq ft fenced lot with stunning mountain views.
    (808) 366-7970
    Request Owner's contact information
    84-924 Hana St Waianae, HI 96792
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    Waianae, HI 96792
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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
    84-924 Hana St Waianae, HI 96792
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    We can help!
    Listing Contact
    Melody L Rutherford
    Melody L Rutherford
    Real Estate License ID: RS-71261
    (808) 366-7970
    Learn more
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