Renovated Duplex with Separate
For Sale
$1,699,000
6163 Kawekiu Place, Honolulu, HI 96821
Permitted duplex includes separate utility metering, laundry, carports, and front and back yards.
Property Size3,194 SF
Price / SF$531.93
Days on Market8
Property Features for 6163 Kawekiu Place
General Information
Standard status
Active
Size
3,194 SF
Property subtype
Multi Family
Property Condition
Severity
Teardown
Evidence
may need to be torn down
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,145
Amenities
washer/dryer
carports
front and back yards
Building Details
Building Size
3,194 SF
Year Built
1988
Listing Agency:
eXp Realty
(808) 781-3340
Listed By:
Gino DeAngelo · License #RS-80457
(808) 781-3340
Source:
Careyluxury
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 28 at 5:46PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This multifamily property includes an original house and a permitted duplex. Renovated in 2025, the duplex contains 5 bedrooms, 3 bathrooms, and two kitchens, with separate entrances serving each level and an internal staircase connecting them. Each unit has its own electric and water meters, washer and dryer, carport, and front and back yard. The duplex is currently vacant and will be conveyed as-is.
The property is located at 6163 Kawekiu Place in Honolulu, near shopping centers in Hawaii Kai and Koko Marina, along with schools and medical facilities. The original house dates to 1988 and requires significant repairs or possible demolition, creating an important consideration for purchasers evaluating the full property.
The property is located at 6163 Kawekiu Place in Honolulu, near shopping centers in Hawaii Kai and Koko Marina, along with schools and medical facilities. The original house dates to 1988 and requires significant repairs or possible demolition, creating an important consideration for purchasers evaluating the full property.
Key Highlights
- Permitted duplex renovated in 2025 with 5 bedrooms, 3 bathrooms, and two kitchens
- Separate entrances for each level with an internal staircase between them
- Each unit has separate electric and water meters
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
$63,606
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
3.74%
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%
$1,272,120
$1.3M
Cap Rate 7%
$908,657
$908.7K
Cap Rate 9%
$706,733
$706.7K
Market Conditions
NOI Build-Up for 3,194 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
$97.7K $30.60/SF
− Vacancy
−$6.9K −$2.15/SF
EGI
$90.9K $28.45/SF
− OpEx
−$27.3K −$8.53/SF
NOI
$63.6K $19.91/SF
Area
Honolulu County, HI
Vacancy
7.03%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,272,120
Cap Rate 7%
$908,657
Cap Rate 9%
$706,733
Alternative Uses
Best Use
Multifamily LT 5
$908.7K
$795.1K – $1.06M
NOI $63,606 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$836.6K
$732.0K – $976.0K
NOI $58,561 @ 7.0% cap · market cap 3.45%
Theoretical Best
Specialty Retail
$1.29M
$1.13M – $1.51M
NOI $90,582 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Demographics for 96821, HI
19,727
Population
7,462
Households
2.6
Avg Household Size
52
Median Age
63%
College-Educated
98%
High-School Grad
11.6 sq mi
ZIP Area
1,701
Density / Sq Mi
$174,152
Median Household Income
$71,341
Median Earnings
$2,946
Median Rent
$1,457,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Permitted duplex includes separate utility metering, laundry, carports, and front and back yards.
Where is this duplex located?
The property is located at 6163 Kawekiu Place Honolulu, HI.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Permitted duplex renovated in 2025 with 5 bedrooms, 3 bathrooms, and two kitchens; Separate entrances for each level with an internal staircase between them; Each unit has separate electric and water meters
