Permitted Two-Home
For Sale
$1,075,000
15-1634 PARADISE DR, Keaau, HI 96749
Residential Income, Keaau, HI
Property Size2,692 SF
Lot Size1.00 Acre
Price / SF$399.33
Days on Market275
Property Features for 15-1634 PARADISE DR
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
A-1A
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bathroom 4, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Bathroom 3
Fencing
Chain Link
Appliances
Disposal, Dryer, Microwave Hood, Range, Refrigerator, Washer
Subdivision
HAWAIIAN PARADISE PARK
Lot features
Corner Lot
Standard status
Active
APN
3150401580000
Size
2,692 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3341
HOA Fee
$36 Monthly
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Building Details
Year built
2021
Flooring type
Vinyl
Listing Agency:
Coldwell Banker Island Properties - Kamuela · Coldwell Banker Real Estate
(808) 724-6854
Listed By:
Hanalei De Rego
(808) 430-9343
Added: Jan 26
Changed: Oct 21
Last Checked: Oct 28 at 8:06AM
MLS# 725836
Copyright © 2026 Hawaii Information Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This duplex property contains 2,692 square feet across two permitted homes on a 1-acre parcel. The main residence, completed in 2021, offers three bedrooms, two bathrooms, a split floor plan, vaulted living-room ceilings, a primary suite with split A/C, and an office or flex area. The second home was built in 2024 and includes two bedrooms, two bathrooms, a modern farmhouse-inspired interior, and a practical kitchen with a butcher block countertop.
Located on Paradise Dr. in Keaau, the property has a paved driveway, two gated entrances, county water, chain-link fencing, and a septic tank. Paid-off PV systems serve both homes. Mature fruit trees, vegetable and herb gardens, and irrigation catchment systems support agricultural use across the grounds.
Located on Paradise Dr. in Keaau, the property has a paved driveway, two gated entrances, county water, chain-link fencing, and a septic tank. Paid-off PV systems serve both homes. Mature fruit trees, vegetable and herb gardens, and irrigation catchment systems support agricultural use across the grounds.
Key Highlights
- Two permitted homes on 1 acre with 2,692 square feet of total property size
- Main home built in 2021 with 3 bedrooms and 2 bathrooms
- Second dwelling built in 2024 with 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,370
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,400
$807.4K
Cap Rate 7%
$576,714
$576.7K
Cap Rate 9%
$448,556
$448.6K
Market Conditions
NOI Build-Up for 2,692 SF
Gross rent
$59.8K $22.20/SF
− Vacancy
−$2.1K −$0.78/SF
EGI
$57.7K $21.42/SF
− OpEx
−$17.3K −$6.43/SF
NOI
$40.4K $15.00/SF
Area
Hawaii County, HI
Vacancy
3.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,400
Cap Rate 7%
$576,714
Cap Rate 9%
$448,556
Alternative Uses
Best Use
Multifamily LT 5
$576.7K
$504.6K – $672.8K
NOI $40,370 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$528.2K
$462.2K – $616.3K
NOI $36,977 @ 7.0% cap · market cap 3.44%
Theoretical Best
Specialty Retail
$918.7K
$803.9K – $1.07M
NOI $64,311 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Demographics for 96749, HI
20,503
Population
7,545
Households
2.7
Avg Household Size
42
Median Age
23%
College-Educated
92%
High-School Grad
59.8 sq mi
ZIP Area
343
Density / Sq Mi
$74,633
Median Household Income
$41,366
Median Earnings
$1,268
Median Rent
$396,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two permitted dwellings share a paved corner lot with county water, fencing, and gated access.
Where is this duplex located?
The property is located at 15-1634 PARADISE DR Keaau, HI.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Two permitted homes on 1 acre with 2,692 square feet of total property size; Main home built in 2021 with 3 bedrooms and 2 bathrooms; Second dwelling built in 2024 with 2 bedrooms and 2 bathrooms
