Brand-New 2-Unit
For Sale
$839,999
87-102 Kulaaupuni Street, Waianae, HI 96792
MULTI_FAMILY - Other - Waianae, HI
Property Size2,230 SF
Price / SF$376.68
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
Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 3, Bedroom 4, Bedroom 2
Parking
4
Parking features
Garage
Interior features
Bedroom on Main Level, Full Bath on Main Level
Fencing
Fenced
Subdivision
MAILI
Lot features
Cleared, Dead End, Level
Elementary school
Maili
Middle school
Waianae
High school
Waianae
Standard status
Active
APN
1-8-7-039-044-0002
Size
2,230 SF
Taxes and HOA fees
Tax Annual Amount
1380
Utilities
Utilities
Water Available
Water source
Public
Building Details
Year built
2024
Floors in Building
2
Flooring type
Tile - Ceramic, Hardwood, Vinyl
Building materials
Double Wall
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 2:06AM
MLS# 202600198
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.
This for-sale duplex offers a brand-new Unit #2 with the same design as Unit #1. The layout provides flexible living across two levels: the upper level includes three bedrooms, two baths, and a full kitchen with stainless steel appliances. The lower level features two bedrooms, one bath, and a wet bar.
Parking accommodates up to four vehicles, with possible additional side parking. The property is described as being near Maili Elementary School and within walking distance to the beach, with a short drive to Ko Olina and Kapolei for shopping and dining. No HOA is indicated in the remarks.
The home is presented as a residential income property with a two-level configuration supporting separate living spaces within the unit.
Parking accommodates up to four vehicles, with possible additional side parking. The property is described as being near Maili Elementary School and within walking distance to the beach, with a short drive to Ko Olina and Kapolei for shopping and dining. No HOA is indicated in the remarks.
The home is presented as a residential income property with a two-level configuration supporting separate living spaces within the unit.
Key Highlights
- Under construction 2024 home (Unit #2) with double wall construction
- 5‑bedroom, 3‑bath layout with flexible upper and lower living options
- Upper level has 3 bedrooms, 2 baths, and a full kitchen with stainless steel appliances
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 5.29%
Second Best
Apartment 5plus
$584.1K
$511.1K – $681.5K
NOI $40,887 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$903.5K
$790.5K – $1.05M
NOI $63,243 @ 7.0% cap · market cap 7.53%
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 - New 5-bedroom, 3-bath duplex unit with two levels, stainless appliances, and parking for up to four vehicles.
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 $839,999.
What are key features of this property?
This property features: Under construction 2024 home (Unit #2) with double wall construction; 5‑bedroom, 3‑bath layout with flexible upper and lower living options; Upper level has 3 bedrooms, 2 baths, and a full kitchen with stainless steel appliances
