New Five-Story Walk-Up
311 Puuhue Place, Honolulu, HI 96817
For Sale
$7,300,000
Five-story walk-up completed in 2022 with 25 one-bedroom units, in-unit washer/dryer, and submetered electricity and water.
Property Size18,414 SF
Lot Size0.12 Acres
Days on Market321
Property Features for 311 Puuhue Place
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
bicycle and moped parking
Building Details
Building Size
Year Built
Stories
Listing Agency:
Marcus Realty
Listed By:
Kevin Y Nishikawa · License HI RB-17304
(808) 220-9220
Source:
Commercialinvestmentstrategies
Added: Dec 29, 2025
Changed: Nov 8
Last Checked: Nov 12 at 5:23PM
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 Marcus Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
311 Puuhue Place is a newly constructed five-story walk-up apartment building completed in 2022 under Honolulu’s Bill 7 program. The property consists of twenty-five one-bedroom units built on fee simple land identified as A-1 zoned. Each unit is equipped with an in-unit washer/dryer, water heater, refrigerator, and stove/oven.
The building includes nine parking stalls, along with bicycle and moped parking. Electricity and water are submetered and monitored by Ikehu Utility Solutions.
Income and expenses are provided as proforma, and Bill 7 exemptions include real property tax and general excise tax through 2032. Please contact the listing broker for additional details, and note that tenants should not be disturbed and the property should not be walked without permission.
The building includes nine parking stalls, along with bicycle and moped parking. Electricity and water are submetered and monitored by Ikehu Utility Solutions.
Income and expenses are provided as proforma, and Bill 7 exemptions include real property tax and general excise tax through 2032. Please contact the listing broker for additional details, and note that tenants should not be disturbed and the property should not be walked without permission.
Key Highlights
- Newly constructed five‑story walk‑up completed in 2022 under Honolulu’s Bill 7 program
- 25 one‑bedroom units on 5,110 sq ft of fee simple A‑1 zoned land
- In‑unit washer/dryer in every unit, plus refrigerator and stove/oven
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$337,617
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,752,340
$6.8M
Cap Rate 7%
$4,823,100
$4.8M
Cap Rate 9%
$3,751,300
$3.8M
Market Conditions
NOI Build-Up for 18,414 SF
Gross rent
$662.9K $36.00/SF
− Vacancy
−$49.1K −$2.66/SF
EGI
$613.8K $33.34/SF
− OpEx
−$276.2K −$15.00/SF
NOI
$337.6K $18.33/SF
Area
Honolulu County, HI
Vacancy
7.40%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,752,340
Cap Rate 7%
$4,823,100
Cap Rate 9%
$3,751,300
Alternative Uses
Best Use
Apartment 5plus
$4.82M
$4.22M – $5.63M
NOI $337,617 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.46M
$6.53M – $8.70M
NOI $522,223 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
25
Residential units
Location Intelligence
Demographics for 96817, HI
56,823
Population
21,489
Households
2.6
Avg Household Size
46
Median Age
30%
College-Educated
84%
High-School Grad
9.3 sq mi
ZIP Area
6,110
Density / Sq Mi
$74,690
Median Household Income
$42,492
Median Earnings
$1,419
Median Rent
$930,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Honolulu, HI
Properties on Market for Apartment buildings in Honolulu
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-story walk-up completed in 2022 with 25 one-bedroom units, in-unit washer/dryer, and submetered electricity and water.
Where is this apartment building located?
The property is located at 311 Puuhue Place Honolulu, HI.
What is the asking price?
The asking price for this property is $7,300,000.
What are key features of this property?
This property features: Newly constructed five‑story walk‑up completed in 2022 under Honolulu’s Bill 7 program; 25 one‑bedroom units on 5,110 sq ft of fee simple A‑1 zoned land; In‑unit washer/dryer in every unit, plus refrigerator and stove/oven
