Oceanfront Duplex with
For Sale
$2,800,000
67-003 Kahaone Pl, Waialua, HI 96791
Legal two-unit property offers a three-bedroom main residence and attached two-bedroom cottage.
Property Size4,282 SF
Price / SF$653.90
Days on Market605
Property Features for 67-003 Kahaone Pl
General Information
Standard status
Active
Size
4,282 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$20,243
Amenities
Ceramic Tile, Other, Carpet
3
Internet Connection, Cable Available
Pool
Masonry
Patio
Spa. Waterfront.
3 Parking Spaces.
Stucco
Ocean, Coastline View
Level
8140.0
No Pool
Ocean
Water Front, Ocean, Workshop. None, Level.
Building Details
Year Built
1964
Buildings
1
Listing Agency:
REMAX Hawaii North Shore
(808) 637-1500
Listed By:
Meme Moody
(808) 637-1500
Source:
Xome
Added: Jan 4, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX Hawaii North Shore
Investment Insights
Based on property information with market context.
This legal duplex includes a three-bedroom main home and an attached two-bedroom cottage, creating a flexible two-unit configuration. The property is being sold As-Is and includes an upgraded septic system. Additional features include a workshop, patio, masonry construction, stucco exterior, and three parking spaces.
The oceanfront property provides direct beach access along with ocean and coastline views. It is located on Kahaone Place in Waialua, near Haleiwa town, area surf breaks, and the bike path. Built in 1964, the property offers an established coastal setting with room for renovation or customization.
The oceanfront property provides direct beach access along with ocean and coastline views. It is located on Kahaone Place in Waialua, near Haleiwa town, area surf breaks, and the bike path. Built in 1964, the property offers an established coastal setting with room for renovation or customization.
Key Highlights
- Legal duplex with a 3‑bedroom main home and attached 2‑bedroom cottage
- Oceanfront property with direct beach access
- Ocean and coastline views from the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$85,272
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,705,440
$1.7M
Cap Rate 7%
$1,218,171
$1.2M
Cap Rate 9%
$947,467
$947.5K
Market Conditions
NOI Build-Up for 4,282 SF
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.
Gross rent
$131.0K $30.60/SF
− Vacancy
−$9.2K −$2.15/SF
EGI
$121.8K $28.45/SF
− OpEx
−$36.5K −$8.53/SF
NOI
$85.3K $19.91/SF
Area
Honolulu County, HI
Vacancy
7.03%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,705,440
Cap Rate 7%
$1,218,171
Cap Rate 9%
$947,467
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,272 @ 7.0% cap · market cap 3.05%
Second Best
Apartment 5plus
$1.12M
$981.4K – $1.31M
NOI $78,510 @ 7.0% cap · market cap 2.80%
Theoretical Best
Specialty Retail
$1.73M
$1.52M – $2.02M
NOI $121,438 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Demographics for 96791, HI
7,987
Population
2,697
Households
3
Avg Household Size
40
Median Age
30%
College-Educated
95%
High-School Grad
36.5 sq mi
ZIP Area
219
Density / Sq Mi
$93,875
Median Household Income
$45,481
Median Earnings
$2,096
Median Rent
$932,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-unit property offers a three-bedroom main residence and attached two-bedroom cottage.
Where is this duplex located?
The property is located at 67-003 Kahaone Pl Waialua, HI.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Legal duplex with a 3‑bedroom main home and attached 2‑bedroom cottage; Oceanfront property with direct beach access; Ocean and coastline views from the property
