Kihei Live/Work Mixed-Use
For Sale
$1,199,000
Pending
1367 South Kihei Road, Kihei, HI 96753
Mixed-use property in central Kihei with residential and commercial spaces.
Property Size1,901 SF
Days on Market112
Property Features for 1367 South Kihei Road
General Information
Standard status
Pending
Size
1,901 SF
Property subtype
Commercial Sale / Commercial-For Sale / Condominium
Taxes and HOA fees
Annual Taxes
$1,555
Amenities
Room A/C
Carpet, Wood, Other
Yes
Composition
Frame
Building Details
Stories
3
Listing Agency:
eXp Realty
(808) 315-1699
Listed By:
Jyoti Graziano · License #RS-81732
(808) 315-1699
Source:
Compass
Added: May 13
Changed: Aug 24
Last Checked: Aug 14 at 6:08AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located in the heart of Central Kihei, this mixed-use property at Kai Ani Village offers a unique live/work opportunity. The property features approximately 1,901 sq. ft. of space, including 2 bedrooms, 2.5 baths, and a 500 sq. ft. commercial suite, along with an attached 2-car garage. The ground-level commercial suite benefits from high visibility on South Kihei Rd. and has a dedicated exterior entrance, as well as interior access from the residence. The commercial space includes a half bath, custom built shelving, recessed lighting, and a privacy partition with additional storage. The residence above features vaulted ceilings, open-concept living and dining areas, granite kitchen counters, a laundry area, a guest bedroom, and a full bath with a tub. A north-facing lanai offers views of Haleakala and includes an electric shade. The upper-level primary suite overlooks the living area and includes a walk-in closet and an en suite bath with a double vanity and walk-in shower. Recent updates include lighting, refrigerator, washer and dryer, oven/range, dishwasher, microwave/convection/air fryer, and water heater, as well as improvements to the commercial suite. Kai Ani Village provides resort-style amenities such as an infinity-edge pool, spa, cabanas, a pavilion, BBQ areas, and tropical landscaping. The property's location offers convenient access to restaurants, cafes, grocery stores, gyms, banks, community events, and the South Maui beach path, as well as Kahului, the airport, Costco, and medical services. Existing businesses within Kai Ani Village include a café, chiropractor, medical offices, a weight loss clinic, an insurance company, a barber shop, wellness services, and professional offices.
Key Highlights
- Rare live/work opportunity with a 500 sq. ft. commercial suite in a desirable central Kihei location.
- Largest floor plan available in Kai Ani Village, offering 1,901 sq. ft. of combined living and commercial space.
- Prime commercial suite visibility on South Kihei Rd. with dedicated entrance and interior access.
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
$39,351
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
3.28%
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%
$787,020
$787.0K
Cap Rate 7%
$562,157
$562.2K
Cap Rate 9%
$437,233
$437.2K
Market Conditions
NOI Build-Up for 1,901 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
$68.4K $36.00/SF
− Vacancy
−$5.5K −$2.88/SF
EGI
$63.0K $33.12/SF
− OpEx
−$23.6K −$12.42/SF
NOI
$39.4K $20.70/SF
Area
Maui County, HI
Vacancy
8.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$787,020
Cap Rate 7%
$562,157
Cap Rate 9%
$437,233
Alternative Uses
Best Use
Mixed Use
$562.2K
$491.9K – $655.9K
NOI $39,351 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$769.0K
$672.9K – $897.2K
NOI $53,831 @ 7.0% cap · market cap 4.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Demographics for 96753, HI
27,611
Population
18,294
Households
1.5
Avg Household Size
47
Median Age
35%
College-Educated
95%
High-School Grad
36.4 sq mi
ZIP Area
759
Density / Sq Mi
$87,948
Median Household Income
$44,157
Median Earnings
$2,076
Median Rent
$958,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property in central Kihei with residential and commercial spaces.
Where is this mixed-use property located?
The property is located at 1367 South Kihei Road Kihei, HI.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Rare live/work opportunity with a 500 sq. ft. commercial suite in a desirable central Kihei location.; Largest floor plan available in Kai Ani Village, offering 1,901 sq. ft. of combined living and commercial space.; Prime commercial suite visibility on South Kihei Rd. with dedicated entrance and interior access.
