4-Unit Multifamily
837 Olowalu Village Rd, Lahaina, HI 96761
For Sale
$1,980,000
Four residences in varied configurations are arranged across two levels.
Property Size3,848 SF
Price / SF$514.55
Days on Market65
Property Features for 837 Olowalu Village Rd
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Building Details
Building Size
Listing Agency:
Berkshire Hathaway HI Isl Prop
Listed By:
Michelle Fernandez Cendana · License HI RB-24122
(808) 359-1913
Source:
Emeraldclubrealty
Added: Sep 7
Changed: Nov 7
Last Checked: Nov 9 at 3:05PM
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 Berkshire Hathaway HI Isl Prop
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property contains 3,848 sq ft of interior space arranged as four living units, with six bedrooms and four bathrooms. The ground floor has two 2-bedroom/1-bath units; upstairs are two 1-bedroom/1-bath units. A covered area has also been converted into a separate dwelling. The lot spans more than a third of an acre, with a deck near the entrance, a barbecue area, and room for a garden. Ocean and West Maui Mountain views are available from the property, and the beach is 65 meters away. Highway access is provided by a private, deeded right-of-way. Leoda's Pie Shop, Olowalu General Store, and Camp Olowalu are each half a mile away; Lahaina is 12 miles distant, and Maalaea is 9 miles away.
Key Highlights
- Four living units across two levels: two 2‑bedroom/1‑bath units below and two 1‑bedroom/1‑bath units above
- 3,848 sq ft of interior space with six bedrooms and four bathrooms
- Property spans more than a third of an acre
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,381
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,447,620
$1.4M
Cap Rate 7%
$1,034,014
$1.0M
Cap Rate 9%
$804,233
$804.2K
Market Conditions
NOI Build-Up for 3,848 SF
Gross rent
$138.5K $36.00/SF
− Vacancy
−$6.9K −$1.80/SF
EGI
$131.6K $34.20/SF
− OpEx
−$59.2K −$15.39/SF
NOI
$72.4K $18.81/SF
Area
Maui County, HI
Vacancy
5.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,447,620
Cap Rate 7%
$1,034,014
Cap Rate 9%
$804,233
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$904.8K – $1.21M
NOI $72,381 @ 7.0% cap · market cap 3.66%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.56M
$1.36M – $1.82M
NOI $108,965 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Demographics for 96761, HI
23,167
Population
11,851
Households
2
Avg Household Size
42
Median Age
28%
College-Educated
93%
High-School Grad
95.3 sq mi
ZIP Area
243
Density / Sq Mi
$94,229
Median Household Income
$45,107
Median Earnings
$2,099
Median Rent
$905,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Four residences in varied configurations are arranged across two levels.
Where is this multifamily property located?
The property is located at 837 Olowalu Village Rd Lahaina, HI.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: Four living units across two levels: two 2‑bedroom/1‑bath units below and two 1‑bedroom/1‑bath units above; 3,848 sq ft of interior space with six bedrooms and four bathrooms; Property spans more than a third of an acre
