Two-Home Multifamily
73-1153 AHIKAWA ST, Kailua Kona, HI 96740
For Sale
$1,495,000
Residential Income, Multi-Dwelling, Multi-Story, Single Family Home, Kailua-Kona, HI
Property Size3,930 SF
Lot Size0.42 Acres
Price / SF$380.41
Days on Market340
Property Features for 73-1153 AHIKAWA ST
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Appliances
Subdivision
Lot features
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Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Utilities
Sewer type
Water source
Building Details
Year built
Floors in Building
Flooring type
Architectural style
Buildings
Listing Agency:
Nathalie Mullinix Realty Universal, Inc.
(808) 261-0350
Listed By:
Nathalie C Mullinix · License HI RB-17596
(808) 327-4466
Added: Dec 11, 2025
Changed: Nov 4
Last Checked: Nov 15 at 6:06AM
MLS# 726148
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.
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Investment Insights
Based on property information with market context.
Set on a 0.416-acre parcel, this 3,930-square-foot multifamily property comprises two updated homes, built in 1988. Each residence has upper-level primary living space and lower-level guest quarters with a separate entrance. Across the homes, the configuration includes eight bedrooms, multiple kitchens, covered lanais, and laundry areas. Features vary by residence and include open-beam ceilings, updated kitchens and bathrooms, wet bars, and storage buildings. One home also has a two-car carport and a recently installed roof.
The property is above the airport and offers ocean and sunset views. It has access to Kailua-Kona town and the Kohala Gold Coast, where restaurants, shopping, and beaches are noted. Zoning is A-5A; water is supplied publicly, and sewer service is by cesspool.
The property is above the airport and offers ocean and sunset views. It has access to Kailua-Kona town and the Kohala Gold Coast, where restaurants, shopping, and beaches are noted. Zoning is A-5A; water is supplied publicly, and sewer service is by cesspool.
Key Highlights
- Two residences on a 0.416‑acre parcel
- 3,930 square feet of building area
- Eight bedrooms across the two homes, including separate guest quarters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,982
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,079,640
$1.1M
Cap Rate 7%
$771,171
$771.2K
Cap Rate 9%
$599,800
$599.8K
Market Conditions
NOI Build-Up for 3,930 SF
Gross rent
$101.4K $25.80/SF
− Vacancy
−$3.2K −$0.83/SF
EGI
$98.1K $24.97/SF
− OpEx
−$44.2K −$11.24/SF
NOI
$54.0K $13.74/SF
Area
Hawaii County, HI
Vacancy
3.20%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,079,640
Cap Rate 7%
$771,171
Cap Rate 9%
$599,800
Alternative Uses
Best Use
Apartment 5plus
$771.2K
$674.8K – $899.7K
NOI $53,982 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.34M
$1.17M – $1.56M
NOI $93,886 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Demographics for 96740, HI
38,234
Population
19,119
Households
2
Avg Household Size
45
Median Age
35%
College-Educated
94%
High-School Grad
242.4 sq mi
ZIP Area
158
Density / Sq Mi
$94,091
Median Household Income
$42,605
Median Earnings
$1,692
Median Rent
$730,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Hawaii County, HI
Properties on Market for Multifamily properties in Hawaii County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - The two residences include separate guest quarters with private entrances.
Where is this multifamily property located?
The property is located at 73-1153 AHIKAWA ST Kailua Kona, HI.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Two residences on a 0.416‑acre parcel; 3,930 square feet of building area; Eight bedrooms across the two homes, including separate guest quarters
