Kailua-Kona Office Building For
For Sale
$1,900,000
75-167 Kalani Street, Kailua Kona, HI 96740
7,456 SF office building in the heart of Kailua-Kona.
Property Size7,456 SF
Price / SF$254.83
Days on Market274
Property Features for 75-167 Kalani Street
General Information
Standard status
Active
Size
7,456 SF
Class
B
Property subtype
Office
Building Details
Building Size
7,456 SF
Year Built
1990
Listing Agency:
GO COMMERCIAL, LLC
(808) 987-6446
Listed By:
Gregory Ogin · License #HI #RB-16053
(808) 987-6446
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 19
Last Checked: Aug 21 at 4:28AM
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 GO COMMERCIAL, LLC
Investment Insights
Based on property information with market context.
This is an office building of approximately 7,456 square feet on 15,054 square feet of fee simple land zoned CV-7.5. The property is in a good location with ample onsite parking, including 10 covered and 14 regular spaces. Located in the heart of Kailua-Kona, it is one block off of Kuakini Highway, behind the Kuakini McDonalds. The corner lot is in easy walking distance to the ocean, shopping, restaurants, the business district and more. Some units offer ocean views. The building is well maintained and centrally located in Kailua-Kona, close to the ocean, business district, retailers, restaurants, and visitor centers.
Key Highlights
- Prime Kailua‑Kona location: Centrally located one block from Kuakini Highway, offering easy access to amenities.
- Ample Onsite Parking: Includes 10 covered and 14 regular parking spaces.
- Significant Building Size: Approximately 7,456 square feet of office space.
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
$106,142
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
5.59%
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%
$2,122,840
$2.1M
Cap Rate 7%
$1,516,314
$1.5M
Cap Rate 9%
$1,179,356
$1.2M
Market Conditions
NOI Build-Up for 7,456 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
$165.5K $22.20/SF
− Vacancy
−$24.0K −$3.22/SF
EGI
$141.5K $18.98/SF
− OpEx
−$35.4K −$4.75/SF
NOI
$106.1K $14.24/SF
Area
Hawaii County, HI
Vacancy
14.50%
Lease Rate
$22.20 /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%
$2,122,840
Cap Rate 7%
$1,516,314
Cap Rate 9%
$1,179,356
Alternative Uses
Best Use
Office B
$1.52M
$1.33M – $1.77M
NOI $106,142 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.54M
$2.23M – $2.97M
NOI $178,121 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office 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?
Office building - 7,456 SF office building in the heart of Kailua-Kona.
Where is this office building located?
The property is located at 75-167 Kalani Street Kailua Kona, HI.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Prime Kailua‑Kona location: Centrally located one block from Kuakini Highway, offering easy access to amenities.; Ample Onsite Parking: Includes 10 covered and 14 regular parking spaces.; Significant Building Size: Approximately 7,456 square feet of office space.
