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    Wailuku Multi-Dwelling Ocean View Property Title is generated by Realmo AI

    2609 Kahekili Hwy, Wailuku, HI 96793

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    Claim this Listing
    New
    For Sale
    $1,425,000

    Multi-Dwelling - Wailuku, HI

    Lot size:
    0.90 Acres
    Added:
    May 18, 2026
    Days on Market:
    3
    Last Refresh:
    May 20 at 1:06 am

    Property Features for 2609 Kahekili Hwy

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    3
    Standard status
    Active
    Lot size
    0.90 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Rachel Phillips
    Rachel Phillips

    Listing agent Rachel Phillips License #RB-18465

    Listing office Carol Ball & Assocs 225 Liholiho St, Wailuku, HI

    Listing date May 18, 2026

    MLS# 409651 Listing URL

    Copyright © 2026 Realtors ® Association of Maui, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Sweeping ocean views, sunrise/moonrise vistas, and whale watching from the expansive wraparound covered lanai.
    • Main home (3 bed/3 bath) and detached cottage (2 bed/1 bath) offer flexible living options.
    • Beautifully renovated main residence (2018) with gourmet kitchen featuring Viking appliances and spa‑inspired bathrooms.
    • Detached cottage renovated in 2022 with updated kitchen and vinyl plank flooring.
    • Nearly one‑acre property with lush tropical landscaping, offering privacy.
    • Bonus finished basement in the main house with full bath and wet bar.

    Overview

    Situated on nearly one acre, this property features a 3-bedroom, 3-bath main home and a detached 2-bedroom, 1-bath cottage, both enjoying sweeping ocean views, sunrise and moonrise vistas. The property offers indoor/outdoor living from the expansive wraparound covered lanai. The main residence was renovated in 2018, showcasing vaulted open-beam ceilings, upgraded lighting fixtures, Australian eucalyptus wood and travertine flooring, and abundant windows. The gourmet kitchen features granite countertops, soft-close cherry wood cabinetry, and Viking stainless steel appliances, including a custom panel side-by-side refrigerator, gas stove with hood, built-in microwave, and convection oven. The spa-inspired bathrooms offer marble countertops, river rock and mosaic tile shower floors, and a soaking tub in the primary suite. Additional upgrades include a new roof, windows, and doors (2018), and updated electrical and plumbing systems and interior and exterior paint (2020). A bonus finished basement adds versatility with a full bath, wet bar, and concrete-stained flooring. The main home has hot water on demand from its propane tankless water heater. The detached cottage, renovated in 2022, features a 1-car carport, vinyl plank flooring, updated kitchen cabinets, countertops, and appliances. The property has two county water meters and two electric meters. The property is located a short drive from town and offers a blend of island luxury, comfort, and versatility. The zoning is '3'.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Wailuku
    County
    Maui
    State
    Hawaii
    Longitude
    -156.517036
    Latitude
    20.945797

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    FAQs

    What type of property is this?
    Duplex - Island retreat with ocean views, modern upgrades, and flexible spaces.
    Where is this duplex located?
    The property is located at 2609 Kahekili Hwy Wailuku, HI.
    What is the asking price?
    The asking price for this property is $1,425,000.
    What are key features of this property?
    This property features: Sweeping ocean views, sunrise/moonrise vistas, and whale watching from the expansive wraparound covered lanai.; Main home (3 bed/3 bath) and detached cottage (2 bed/1 bath) offer flexible living options.; Beautifully renovated main residence (2018) with gourmet kitchen featuring Viking appliances and spa‑inspired bathrooms.
    (808) 283-9043
    We can help!
    Listing Contact
    Rachel Phillips
    Rachel Phillips
    Real Estate License ID: RB-18465
    Learn More
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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.

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