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    Two-Home Income Property Title is generated by Realmo AI

    45-615 PLUMERIA ST, Honokaa, HI 96727

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    For Sale
    $869,000

    MULTI_FAMILY - Honokaa, HI

    Property size:
    1,914 SF
    Lot size:
    0.97 Acres
    Price / SF:
    $454/SF
    Added:
    Jun 1, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 2 at 11:06 pm

    Property Features for 45-615 PLUMERIA ST

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RS-10
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 2
    Appliances
    Dishwasher, Dryer, Microwave, Microwave Hood, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    3450101240000
    Size
    1,914 SF
    Lot size
    0.97 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    8585

    Utilities

    Utilities
    Cable Available
    Sewer type
    Cesspool

    Building Details

    Year built
    2003
    Floors in Building
    2
    Flooring type
    Laminate, Tile - Ceramic
    Architectural style
    Other

    We can help!

    Listing Contact
    Sunita R Przewlocki

    Listing agent Sunita R Przewlocki

    Listing office Salt Water Real Estate LLC 250 Keawe Street, Unit D, Hilo, HI

    Listing date Jun 1, 2026

    MLS# 730718 Listing URL

    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.

    HighLights

    • Two permitted homes on nearly 1 acre: a 3‑bedroom, 2‑bath two‑story main house plus a permitted studio guest house next door
    • Main residence (built 2003) features an open layout from the kitchen to living/dining and a 760 sq ft covered lanai with panoramic ocean views
    • Guest house studio includes 9' ceilings and recessed lighting, with its own private outdoor lanai, small fenced yard, and dedicated exterior laundry/storage room
    • Property includes two fenced paddocks below the main lanai for added outdoor space
    • Both homes are serviced by county water and an owned, grid‑tied 28‑panel photovoltaic system
    • Appliances included: dishwasher, dryer, microwave (and microwave hood), range, refrigerator, and washer; flooring includes laminate and ceramic tile

    Overview

    This rare income-producing, multi-generational property offers two permitted homes on a nearly acre lot. The main residence is a two-story 3-bedroom, 2-bath layout with a bright, open floor plan that connects the well-equipped kitchen with island to the living and dining areas. From there, you’ll step out to a large covered lanai with panoramic ocean views over two fenced paddocks below. The two guest bedrooms are on the main level, while the upper floor is dedicated to a private primary suite.

    Next door is a permitted guest house configured as a studio with 9' ceilings, recessed lighting, and a proven track record as a desirable rental. It includes its own private outdoor lanai, a small fenced yard, and dedicated exterior laundry and storage. Both homes share county water service and are supported by an owned, grid-tied 28-panel photovoltaic system, helping keep utility costs affordable. The property is bordered by 20 acres of undeveloped land below, and Honoka’a Town is just minutes away.

    With two separate permitted dwellings, this residence is well suited for buyers seeking multi-generational living with rental income potential, or investors looking for a maintained, move-in ready setup supported by durable utility infrastructure. RS-10 zoning adds flexibility for the residential character of the property while maintaining its primary single-family and income-oriented use case.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Map

    City
    Honokaa
    County
    Hawaii
    State
    Hawaii
    Longitude
    -155.4719241
    Latitude
    20.072322

    FAQs

    What type of property is this?
    Duplex - Move-in ready duplex featuring two permitted residences, expansive ocean views, and solar-plus-county water for practical cost control.
    Where is this duplex located?
    The property is located at 45-615 PLUMERIA ST Honokaa, HI.
    What is the asking price?
    The asking price for this property is $869,000.
    What are key features of this property?
    This property features: Two permitted homes on nearly 1 acre: a 3‑bedroom, 2‑bath two‑story main house plus a permitted studio guest house next door; Main residence (built 2003) features an open layout from the kitchen to living/dining and a 760 sq ft covered lanai with panoramic ocean views; Guest house studio includes 9' ceilings and recessed lighting, with its own private outdoor lanai, small fenced yard, and dedicated exterior laundry/storage room
    (808) 895-3900
    We can help!
    Listing Contact
    Sunita R Przewlocki
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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.

    More about this property
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