Spacious Multi-Family Near Waimanalo
For Sale
$2,790,000
41-51 Hinalea Street, Waimanalo, HI 96795
MULTI_FAMILY - Waimanalo, HI
Property Size5,704 SF
Lot Size0.26 Acres
Price / SF$489.13
Days on Market93
Property Features for 41-51 Hinalea Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
03 - R10 - Residential District
Parking
10
Parking features
Open
Appliances
Dryer, Washer
Subdivision
WAIMANALO
Lot features
Cleared, Level
View
City
Standard status
Active
APN
1-4-1-006-040-0000
Size
5,704 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Annual Amount
7848
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Water source
Public
Building Details
Year built
2015
Floors in Building
2
Number of units
2
Building materials
Double Wall, Stone, Wood Frame
Listing Agency:
eXp Realty
(808) 725-2794
Listed By:
Lucy Liu Shen · License #RS-77203
(808) 358-2021
Added: May 5
Changed: Jun 10
Last Checked: Aug 5 at 5:06PM
MLS# 202608942
Copyright © 2026 HiCentral MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-family property presents a rare opportunity for either family living or rental investment. Located a short distance from Waimanalo beach, the property features 5704 square feet of living space with 6 private entrances on an 11,250 square foot lot. The property includes a two-story house built in 2015, offering 3811 square feet, plus a one-story Ohana unit with 1893 square feet. The gated property includes 11 bedrooms, 8 full bathrooms, and office space. The property has unobstructed mountain views. There are 2 kitchens and 2 wet bars. The main living room features an 11-foot ceiling, while other areas have 9-foot ceilings. Upgrades include a lanai, auto metal gate, natural stones, metal roof, solid wood cabinets, double-door entries, hardwood floor, granite and quartz countertops, and a quartz staircase. The property may be suitable for rental, given its proximity to the beach.
Key Highlights
- Steps from Waimanalo Beach: Enjoy unparalleled access to a world‑famous white sand beach.
- Spacious Living: Benefit from 5704sf of living space on an 11,250sf lot, ideal for large families or rental opportunities.
- Newly Built Main House: Features a 3811sf, 2‑story house built in 2015.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $205.3k | $36.00 |
| − Vacancy | −$15.2k | −$2.66 |
| EGI | $190.1k | $33.34 |
| − OpEx | −$85.6k | −$15.00 |
| NOI | $104.6k | $18.33 |
5,704 SF · lease $36.00/SF/yr · vacancy 7.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.31M – $1.74M
NOI $104,582 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.31M
$2.02M – $2.70M
NOI $161,766 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96795, HI
11,064
Population
2,662
Households
4.2
Avg Household Size
39
Median Age
22%
College-Educated
92%
High-School Grad
11.5 sq mi
ZIP Area
962
Density / Sq Mi
$118,365
Median Household Income
$44,581
Median Earnings
$1,710
Median Rent
$746,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Large multi-family property near the beach, ideal for living/rental.
Where is this multifamily property located?
The property is located at 41-51 Hinalea Street Waimanalo, HI.
What is the asking price?
The asking price for this property is $2,790,000.
What are key features of this property?
This property features: Steps from Waimanalo Beach: Enjoy unparalleled access to a world‑famous white sand beach.; Spacious Living: Benefit from 5704sf of living space on an 11,250sf lot, ideal for large families or rental opportunities.; Newly Built Main House: Features a 3811sf, 2‑story house built in 2015.
