Plantation-Style Mixed-Use
For Sale
$780,000
48-5416 KUKUIHAELE RD, Honokaa, HI 96727
Commercial Sale, Honokaa, HI
Property Size2,784 SF
Lot Size0.24 Acres
Price / SF$280.17
Days on Market52
Property Features for 48-5416 KUKUIHAELE RD
General Information
Property type
Residential
Property subtype
Retail
Zoning
CN-10
Bedrooms
1
Bathrooms
3
Full bathrooms
1
Half bathrooms
2
Rooms
Bathroom 3, Bathroom 1, Bedroom 1, Bathroom 2
Parking features
Assigned
Security features
Security System
Interior features
ADA Accessible, ADA Compliant, Private Restroom, Track Lighting
Exterior features
Lighting
Appliances
Dryer, Freezer, Indoor Grill, Microwave, Range, Refrigerator, Washer
Subdivision
KUKUIHAELE
Standard status
Active
APN
3480070310000
Size
2,784 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4080
Utilities
Utilities
Water Available
Sewer type
Septic Tank
Heating system
Zoned
Cooling system
Window Unit(s), Wall/Window Unit(s), Zoned
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Flooring type
Laminate, Carpet
Listing Agency:
Kohala Coast Properties
(808) 886-6600
Listed By:
Kit Muhs · License #RB-22486
(808) 987-5426
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 21 at 3:06AM
MLS# 731093
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.
Investment Insights
Based on property information with market context.
Built in 1925, this mixed-use property combines a retail storefront, attached café, separate office, and furnished one-bedroom apartment within a 2,784-square-foot building. The structure occupies a 0.2406-acre parcel and features koa and redwood construction, three bathrooms, public water, septic service, assigned parking, and CN-10 zoning. Interior features include track lighting, private restroom facilities, ADA-compliant improvements, and zoned cooling.
Recent work includes a septic conversion from cesspool service in 2011, gallery air-conditioning units added in 2024, extensive electrical upgrades with two new Energy Plus electric meters in 2025, café flooring and custom cabinetry, and bathroom improvements completed in 2024. The apartment includes a refrigerator, washer and dryer, and updated bedroom furnishings. The property is located near Honokaʻa town and approximately 1/2 mile from the Waipiʻo Valley overlook. This offering includes the land and building; the art gallery business is offered separately.
Recent work includes a septic conversion from cesspool service in 2011, gallery air-conditioning units added in 2024, extensive electrical upgrades with two new Energy Plus electric meters in 2025, café flooring and custom cabinetry, and bathroom improvements completed in 2024. The apartment includes a refrigerator, washer and dryer, and updated bedroom furnishings. The property is located near Honokaʻa town and approximately 1/2 mile from the Waipiʻo Valley overlook. This offering includes the land and building; the art gallery business is offered separately.
Key Highlights
- 2,784‑square‑foot mixed‑use building on a 0.2406‑acre parcel
- Built in 1925 with koa and redwood construction
- Retail storefront, attached café, separate office, and 1‑BR/1‑BA apartment
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
$66,509
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
8.53%
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%
$1,330,180
$1.3M
Cap Rate 7%
$950,129
$950.1K
Cap Rate 9%
$738,989
$739.0K
Market Conditions
NOI Build-Up for 2,784 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
$93.5K $33.60/SF
− Vacancy
−$4.9K −$1.75/SF
EGI
$88.7K $31.85/SF
− OpEx
−$22.2K −$7.96/SF
NOI
$66.5K $23.89/SF
Area
Hawaii County, HI
Vacancy
5.20%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,330,180
Cap Rate 7%
$950,129
Cap Rate 9%
$738,989
Alternative Uses
Best Use
Specialty Retail
$950.1K
$831.4K – $1.11M
NOI $66,509 @ 7.0% cap · market cap 8.53%
Second Best
Retail
$859.0K
$751.6K – $1.00M
NOI $60,130 @ 7.0% cap · market cap 7.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Demographics for 96727, HI
4,990
Population
1,642
Households
3
Avg Household Size
45
Median Age
24%
College-Educated
91%
High-School Grad
189.5 sq mi
ZIP Area
26
Density / Sq Mi
$83,534
Median Household Income
$37,124
Median Earnings
$1,218
Median Rent
$559,900
Median Home Value
Market
Vacancy Rate% for Retail 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?
Mixed-use property - Retail, café, office, and residential components occupy a well-maintained commercial property near Honokaʻa town.
Where is this mixed-use property located?
The property is located at 48-5416 KUKUIHAELE RD Honokaa, HI.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 2,784‑square‑foot mixed‑use building on a 0.2406‑acre parcel; Built in 1925 with koa and redwood construction; Retail storefront, attached café, separate office, and 1‑BR/1‑BA apartment
