Two-Unit Residential Income
For Sale
Under Contract
$825,000
87-102 Kulaaupuni Street, Waianae, HI 96792
MULTI_FAMILY - Other - Waianae, HI
Property Size2,230 SF
Price / SF$369.96
Days on Market200
Property Features for 87-102 Kulaaupuni Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning description
05 - R-5 Residential District
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5
Parking
4
Parking features
Garage
Interior features
Bedroom on Main Level, Full Bath on Main Level
Fencing
Fenced
Subdivision
MAILI
Lot features
Cleared, Cul-De-Sac, Level
Elementary school
Maili
Middle school
Waianae
High school
Waianae
Standard status
Active Under Contract
APN
1-8-7-039-044-0001
Size
2,230 SF
Taxes and HOA fees
Tax Annual Amount
1380
Utilities
Utilities
Water Available
Water source
Public
Building Details
Year built
2023
Floors in Building
2
Flooring type
Tile - Ceramic, Laminate, Hardwood
Building materials
Double Wall, Masonry, Stucco
Architectural style
Other
Listing Agency:
Locations LLC
(808) 735-4200
Listed By:
Cannie Chum · License #RB-22002
(808) 735-4200
Added: Jan 12
Changed: Jul 27
Last Checked: Jul 31 at 3:06AM
MLS# 202600197
Copyright © 2026 HiCentral MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Newly built residential income property configured as a two-level home, with the upper level featuring 3 bedrooms, 2 baths, and a full kitchen with stainless steel appliances. The lower level includes 2 bedrooms, 1 bath, and a wet bar, supporting flexible living options.
The property provides parking for up to four vehicles, with possible additional side parking. It is located in Maili, near Maili Elementary School, with minutes to the beach and a short drive to Ko Olina and Kapolei for dining and shopping.
The layout is designed to accommodate separate living spaces within one structure, and the home is offered without HOA.
The property provides parking for up to four vehicles, with possible additional side parking. It is located in Maili, near Maili Elementary School, with minutes to the beach and a short drive to Ko Olina and Kapolei for dining and shopping.
The layout is designed to accommodate separate living spaces within one structure, and the home is offered without HOA.
Key Highlights
- Under construction 5‑bedroom, 3‑bath home (Year Built 2023) in Maili
- Flexible layout: upper level has 3 bedrooms, 2 baths, and a full kitchen with stainless steel appliances
- Lower level includes 2 bedrooms, 1 bath, plus a wet bar for added flexibility
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.2k | $30.60 |
| − Vacancy | −$4.8k | −$2.15 |
| EGI | $63.4k | $28.45 |
| − OpEx | −$19.0k | −$8.53 |
| NOI | $44.4k | $19.91 |
2,230 SF · lease $30.60/SF/yr · vacancy 7.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$634.4K
$555.1K – $740.2K
NOI $44,409 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$584.1K
$511.1K – $681.5K
NOI $40,887 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$903.5K
$790.5K – $1.05M
NOI $63,243 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Duplex - Newly built duplex-style home offers two levels with full kitchens and flexible living arrangements.
Where is this duplex located?
The property is located at 87-102 Kulaaupuni Street Waianae, HI.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Under construction 5‑bedroom, 3‑bath home (Year Built 2023) in Maili; Flexible layout: upper level has 3 bedrooms, 2 baths, and a full kitchen with stainless steel appliances; Lower level includes 2 bedrooms, 1 bath, plus a wet bar for added flexibility
