4-Home Quadplex
For Sale
$1,500,000
84-916 Hanalei Street, Waianae, HI 96792
R-5-zoned quadplex with detached homes, recent renovations, and tenant-paid utilities.
Property Size2,662 SF
Price / SF$563.49
Days on Market465
Property Features for 84-916 Hanalei Street
General Information
Standard status
Active
Size
2,662 SF
Property subtype
Multi-Family
Zoning
R-5
Units
Unit Mix
2 x 3BR, 2 x 2BR
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,032
Amenities
3
Internet Connection, Cable Available
Pool
No Fence
Spa. Waterfront.
5 Parking Spaces.
Other
Level
22000.0
No Pool
None, Level.
Building Details
Year Built
1938
Buildings
4
Stories
1
Listing Agency:
Asian Pacific Investments LLC
(808) 200-4001
Listed By:
Jared Miyamoto
(808) 200-4001
Source:
Xome
Added: May 25, 2025
Changed: Aug 31
Last Checked: Aug 31 at 1:22PM
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 Asian Pacific Investments LLC
Investment Insights
Based on property information with market context.
This quadplex comprises four detached single-family homes on one R-5-zoned lot. The configuration includes two three-bedroom residences and two two-bedroom residences, with a combined property size of 2,662 square feet. Units A and B, one three-bedroom and one two-bedroom home, were renovated in 2025. The property was built in 1938 and includes five parking spaces.
Tenants are responsible for water, sewer, gas, and electric utilities. The homes are located on Hanalei Street in Waianae, Hawaii, with level site conditions and internet connection and cable availability noted among the property features.
Tenants are responsible for water, sewer, gas, and electric utilities. The homes are located on Hanalei Street in Waianae, Hawaii, with level site conditions and internet connection and cable availability noted among the property features.
Key Highlights
- Four detached homes on one R‑5‑zoned lot
- Unit mix includes two 3‑bedroom and two 2‑bedroom homes
- 2,662 square feet combined property size
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
$53,012
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
3.53%
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%
$1,060,240
$1.1M
Cap Rate 7%
$757,314
$757.3K
Cap Rate 9%
$589,022
$589.0K
Market Conditions
NOI Build-Up for 2,662 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
$81.5K $30.60/SF
− Vacancy
−$5.7K −$2.15/SF
EGI
$75.7K $28.45/SF
− OpEx
−$22.7K −$8.53/SF
NOI
$53.0K $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%
$1,060,240
Cap Rate 7%
$757,314
Cap Rate 9%
$589,022
Alternative Uses
Best Use
Multifamily LT 5
$757.3K
$662.7K – $883.5K
NOI $53,012 @ 7.0% cap · market cap 3.53%
Second Best
Apartment 5plus
$697.2K
$610.1K – $813.5K
NOI $48,807 @ 7.0% cap · market cap 3.25%
Theoretical Best
Specialty Retail
$1.08M
$943.7K – $1.26M
NOI $75,495 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Demographics for 96792, HI
51,965
Population
15,516
Households
3.3
Avg Household Size
35
Median Age
16%
College-Educated
91%
High-School Grad
61.1 sq mi
ZIP Area
850
Density / Sq Mi
$83,927
Median Household Income
$39,666
Median Earnings
$1,820
Median Rent
$551,400
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Quadplex - R-5-zoned quadplex with detached homes, recent renovations, and tenant-paid utilities.
Where is this quadplex located?
The property is located at 84-916 Hanalei Street Waianae, HI.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Four detached homes on one R‑5‑zoned lot; Unit mix includes two 3‑bedroom and two 2‑bedroom homes; 2,662 square feet combined property size
