Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    87-879 Apuupuu Road Waianae, HI 96792

    View on Map
    Claim this Listing
    For Sale
    $1,699,000

    MULTI_FAMILY - Waianae, HI

    Added:
    Dec 30, 2025
    Days on Market:
    122
    Last Refresh:
    May 1 at 12:06 am

    Property Features for 87-879 Apuupuu Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking
    15
    Parking features
    Open
    Appliances
    Dryer, Washer
    Standard status
    Active
    APN
    1-8-7-018-029-0000

    Taxes and HOA fees

    Tax Annual Amount
    2940

    Utilities

    Utilities
    Cable Available
    Sewer type
    Cesspool

    Building Details

    Year built
    1936
    Floors in Building
    1
    Number of units
    4
    Building materials
    Single Wall, Wood Frame

    We can help!

    Listing Contact
    Deep Shrestha

    Listing agent Deep Shrestha License #RS-79380

    Listing office Keller Williams Honolulu 590 Farrington Hwy. #537, Honolulu, HI

    Listing date Dec 30, 2025

    MLS# 202528273 Listing URL

    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.

    Overview

    Waianae Land with Development Potential

    This property offers nearly four and a half acres of land in Waianae, Hawaii. It presents opportunities for a private island lifestyle with mountain views. The expansive property includes multiple potential building sites, each with separate access, suitable for creating a multi-dwelling estate, family compound, or income-producing retreat. The land is suited for equestrian use, with space for horses, stables, and riding or walking paths, while preserving privacy and open views. Mature trees provide natural shade and a serene atmosphere. The property allows for agricultural, recreational, or residential use in a rural setting near beaches and Waianae town amenities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Waianae
    County
    Honolulu
    State
    Hawaii
    Longitude
    -158.1585655
    Latitude
    21.4102926

    Nearby Similar for Sale

    • $1,899,999

      Waianae Commercial Building For Sale

      Large commercial building in Waianae with limitless possibilities.
      86-015 Farrington Highway, Waianae, HI 96792
      View Details
    • $850,000
      2,230 SF

      Waianae Multi-Family Home

      5-bedroom, 3-bath home near Maili Elementary and the beach.
      87-102 Kulaaupuni Street, Waianae, HI 96792
      View Details
    • $685,000
      1,152 SF

      Waianae Home in Sea Country

      3-bedroom home in a well-maintained community with amenities.
      87-1719 Mokila Street, Waianae, HI 96792
      View Details
    • $219,000
      952 SF

      Waianae Duplex with Fenced Backyard

      Affordable duplex in Waianae, ideal for first-time buyers.
      85-209 Ala Akau Street, Waianae, HI 96792
      View Details
    • $625,000

      Waianae Multifamily Property For Sale

      Two homes on a 10,000 sq ft lot.
      84-960 Lahaina Street, Waianae, HI 96792
      View Details
    • $1,765,000

      Waianae Multi-Unit Investment Opportunity

      Income-producing multi-unit property in Waianae near beaches and amenities.
      84-956 Hanalei Street, Waianae, HI 96792
      View Details
    • $330,000

      Waianae Vacant Lot Opportunity

      Vacant lot near Pokai Bay Beach Park, ready to build.
      85-978 Farrington Highway, Waianae, HI 96792
      View Details
    • $845,000
      2,230 SF

      New Five-Bedroom Home in Maili

      New 5-bedroom home near beach, Ko Olina, and Kapolei.
      87-102 Kulaaupuni Street, Waianae, HI 96792
      View Details
    • $800,000

      Development Ready Land in Waianae

      13,467 sq ft R-5 zoned lot with subdivision permit.
      87-131 Kulaaupuni Street, Waianae, HI 96792
      View Details
    • $3,480,000

      Waianae Multi-Family Agricultural Opportunity

      Over 12-acre agricultural property with two single-family homes.
      87-1087 Apuupuu Road, Waianae, HI 96792
      View Details
    • $199,000
      952 SF

      Waianae Multi-Family Home Opportunity

      Waianae multi-family home with renegotiated fixed lease.
      85-270 Ala Hema Street, Waianae, HI 96792
      View Details
    • $3,480,000

      Waianae Agricultural Property with Homes

      Over 12-acre agricultural property with two single-family homes.
      87-1087 Apuupuu Road, Waianae, HI 96792
      View Details

    FAQs

    What type of property is this?
    Land - 4.5 acres in Waianae, ideal for multi-dwelling estate or equestrian.
    Where is this land located?
    The property is located at 87-879 Apuupuu Road Waianae, HI.
    What is the asking price?
    The asking price for this property is $1,699,000.
    What are key features of this property?
    This property features: 4. 5 acres of prime land in Waianae, Hawaii, offering a private island lifestyle.; Multiple potential building sites with separate access for a multi‑dwelling estate or income property.; Well‑suited for equestrian use with ample space for horses, stables, and riding paths.
    (808) 200-9575
    We can help!
    Listing Contact
    Deep Shrestha
    Real Estate License ID: RS-79380
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!