Oceanfront Residential Income
For Sale
$334,000
211-3823 Lower Honoapiilani Rd, Lahaina, HI 96761
Furnished island unit with pool and Pacific views in an oceanfront complex near shopping, dining, entertainment, and transit.
Property Size566 SF
Price / SF$590.11
Days on Market53
Property Features for 211-3823 Lower Honoapiilani Rd
General Information
Standard status
Active
Size
566 SF
Property subtype
Residential Income
Listing Agency:
MegaVega Properties LLC
(808) 264-4753
Listed By:
Robin L. Vega RB-18883
(808) 264-4753
Source:
Exprealty
Added: Jul 1
Changed: Aug 21
Last Checked: Aug 21 at 6:48AM
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 MegaVega Properties LLC
Investment Insights
Based on property information with market context.
This 566-square-foot residential income property is a furnished 1-bedroom, 1-bathroom unit on the second floor of Hale Ono Loa. Interior features include tile flooring, stainless steel appliances, and granite countertops. The unit overlooks the complex pool and the Pacific Ocean, combining a practical layout with coastal views.
Hale Ono Loa is an oceanfront property in Honokowai, with shopping, dining, and entertainment nearby. A bus route at the property provides access to surrounding Maui destinations. Ownership is offered for either 3 or 6 months each year, with the available periods running from August 1 through October 31 or May 1 through October 31.
Hale Ono Loa is an oceanfront property in Honokowai, with shopping, dining, and entertainment nearby. A bus route at the property provides access to surrounding Maui destinations. Ownership is offered for either 3 or 6 months each year, with the available periods running from August 1 through October 31 or May 1 through October 31.
Key Highlights
- 566 SF 1‑bedroom, 1‑bathroom unit
- Second‑floor position with pool and Pacific Ocean views
- Furnished interior with tile floors, stainless steel appliances, and granite countertops
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
$10,646
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
3.19%
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%
$212,920
$212.9K
Cap Rate 7%
$152,086
$152.1K
Cap Rate 9%
$118,289
$118.3K
Market Conditions
NOI Build-Up for 566 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
$20.4K $36.00/SF
− Vacancy
−$1.0K −$1.80/SF
EGI
$19.4K $34.20/SF
− OpEx
−$8.7K −$15.39/SF
NOI
$10.6K $18.81/SF
Area
Maui County, HI
Vacancy
5.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$212,920
Cap Rate 7%
$152,086
Cap Rate 9%
$118,289
Alternative Uses
Best Use
Apartment 5plus
$152.1K
$133.1K – $177.4K
NOI $10,646 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$229.0K
$200.4K – $267.1K
NOI $16,028 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Demographics for 96761, HI
23,167
Population
11,851
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
93%
High-School Grad
95.3 sq mi
ZIP Area
243
Density / Sq Mi
$94,229
Median Household Income
$45,107
Median Earnings
$2,099
Median Rent
$905,800
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential income property - Furnished island unit with pool and Pacific views in an oceanfront complex near shopping, dining, entertainment, and transit.
Where is this residential income property located?
The property is located at 211-3823 Lower Honoapiilani Rd Lahaina, HI.
What is the asking price?
The asking price for this property is $334,000.
What are key features of this property?
This property features: 566 SF 1‑bedroom, 1‑bathroom unit; Second‑floor position with pool and Pacific Ocean views; Furnished interior with tile floors, stainless steel appliances, and granite countertops
