Apartment Property Near Ocean
84-1111 Hana Street, Waianae, HI 96792
Apartment property near the ocean with development potential.
Type:Multi-Family
Property size:
10,200 SFPrice / SF:
$362/SF- Added:
- Aug 21, 2025
- Days on Market:
- 269
- Last Refresh:
- Apr 1 at 9:07 pm
Property Features for 84-1111 Hana Street
General Information
- Standard status
- Active
- Size
- 10,200 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1973
Listing agent Christina Dwight License #RB-20978 (808) 429-1098
Listing office Commercial Inv. Strategies (808) 429-1098
Listing date Aug 21, 2025
Source Xome
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All listing content including descriptions, pricing, images are the copyrighted material of Commercial Inv. Strategies
HighLights
- Prime location: One block from the ocean.
- Significant development potential: Large lot with 20 parking spaces and possible further development.
- Income‑generating property: 17 two‑bedroom units.
- Value‑add opportunity: Potential to raise rents to market value.
- Legal non‑conforming use: Previously a historic hotel.
- Amenity: Community pool (currently not in use, but can be uncovered).
Overview
Located one block from the ocean, this apartment property was previously operated as a historic hotel. The current use is legal non-conforming. The property features 17 two-bedroom units and a large lot with 20 parking spaces, offering potential for further development. There is an opportunity to add value and raise rents. Constructed with hollow tile, the property has tenants who pay their own electric bills, while the landlord covers water expenses. The property includes a pool that is currently not in use but could be uncovered and utilized. The property size is 10200 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$2.08M
NOI $187,015 @ 9.00% cap · cautious / downside scenario
Moderate
$2.67M
NOI $187,015 @ 7.00% cap · market / base-case scenario
Aggressive
$3.74M
NOI $187,015 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $367.2k | $36.00 |
| − Vacancy | −$27.2k | −$2.66 |
| EGI | $340.0k | $33.34 |
| − OpEx | −$153.0k | −$15.00 |
| NOI | $187.0k | $18.33 |
10,200 SF · lease $36.00/SF/yr · vacancy 7.40% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$2.67M
$2.34M – $3.12M
NOI $187,015 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.13M
$3.62M – $4.82M
NOI $289,273 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Waianae
- County
- Honolulu
- State
- Hawaii
- Longitude
- -158.211421
- Latitude
- 21.464525
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Apartment property near the ocean with development potential.
Where is this apartment building located?
The property is located at 84-1111 Hana Street Waianae, HI.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: Prime location: One block from the ocean.; Significant development potential: Large lot with 20 parking spaces and possible further development.; Income‑generating property: 17 two‑bedroom units.
