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    2155 Kalākaua Ave Honolulu, HI 96815
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    2155 Kalākaua Ave Honolulu, HI 96815

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    • Warehouses
    • 152,772 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2155 Kalākaua Ave

    Year built
    1980
    Property size
    152,772 SF
    Property type
    Warehouses
    Property subtype
    Retail properties & Spaces

    Description

    The Bank of Hawaii Waikiki Center, a Class A, nine-story building (152,772 rentable square feet) at 2155 Kalakaua Ave, Honolulu, HI 96815, offers exceptional executive office space in the heart of Waikiki. Built in 1980, this iconic building boasts a striking design and prime location at the entrance to Waikiki, on the corner of Kalakaua Avenue and Beach Walk, across from luxury retailers and close to Waikiki's main attractions. The property features 225 parking spaces (1 space per approximately 700 square feet of rentable space). Suites range from a minimum of 737 square feet to a maximum contiguous space of 17,747 square feet, with 38,725 square feet currently vacant. The building is zoned Resort-Commercial and sits on a 40,256 square foot lot. Multiple tenancies are available, making it ideal for businesses of all sizes seeking a prestigious address in Honolulu County's premier urban retail market. This landmark property offers unparalleled access to Waikiki's vibrant atmosphere and world-class amenities, combining professional excellence with quintessential Hawaiian views. The property is categorized as Retail and Office, with Executive Office, Commercial, and Storage subtypes.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Honolulu
    County
    Honolulu
    State
    Hawaii
    Longitude
    -157.83
    Latitude
    21.2804

    Comparable in this City

    • Value Estimation by Request
      2,938 SF

      2222 Kalākaua Ave

      Office Spaces • 2,938 SF
      2222 Kalākaua Ave, Honolulu, HI 96815
      View Details
    • Value Estimation by Request
      54,040 SF

      2552 Kalākaua Ave

      Restaurants • 54,040 SF
      2552 Kalākaua Ave, Honolulu, HI 96815
      View Details
    • Value Estimation by Request

      444 Hobron Ln

      Retail properties & Spaces
      444 Hobron Ln, Honolulu, HI 96815
      View Details
    • Value Estimation by Request

      1888 Kalākaua Ave

      Restaurants
      1888 Kalākaua Ave, Honolulu, HI 96815
      View Details
    • Value Estimation by Request
      3,936 SF

      1980 Kalākaua Ave

      Individual retail properties • 3,936 SF
      1980 Kalākaua Ave, Honolulu, HI 96815
      View Details
    • Value Estimation by Request
      1,236 SF

      521 Kapahulu Ave

      WAREHOUSE, STORAGE • 1,236 SF
      521 Kapahulu Ave, Honolulu, HI 96815-3854
      View Details

    Similar Nearby for Sale

    • $5,400,000
      3,936 SF

      Waikiki Storefront Investment Opportunity

      Prime Waikiki location, 3,936 SF, $5.4M
      1980 Kalākaua Ave, Honolulu, HI 96815
      View Details
    • $6,000,000
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      Waikiki Retail Gem: Prime Location

      Iconic Waikiki building, redevelopment opportunity.
      1988 Kalākaua Ave, Honolulu, HI 96815
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    • $340,000
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      Waikiki Office Space For Sale

      Fee simple office space in Waikiki, close to Ala Moana.
      400 Hobron Ln, Honolulu, HI 96815
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    • $225,000
      680 SF

      Hobron Lane Commercial Space

      Honolulu Office/Retail Opportunity
      400 Hobron Ln, Honolulu, HI 96815
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    • $3,250,000

      Commercial Property on Campbell Avenue

      High-visibility corner lot with building and parking.
      3654 Campbell Ave, Honolulu, HI 96815
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    Similar Nearby for Lease

    • Contact for pricing
      152,772 SF

      Waikiki Office Space for Lease

      Prestigious Waikiki location, flexible suites available
      2155 Kalākaua Ave, Honolulu, HI 96815
      View Details
    • Contact for pricing
      54,040 SF

      Waikiki Beachfront Executive Suites

      Prime Waikiki Office & Retail Space Available
      2552 Kalākaua Ave, Honolulu, HI 96815
      View Details
    • Contact for pricing
      2,938 SF

      Waikiki Galleria Tower Office Space

      Prime Waikiki Office Suites Available
      2222 Kalākaua Ave, Honolulu, HI 96815
      View Details
    • $168 SF/Yr
      2,696 SF

      Waikiki Retail Space: Prime Location

      High-traffic Waikiki retail space available.
      2211 Kūhiō Ave, Honolulu, HI 96815
      View Details
    • Contact for pricing
      1,525 SF

      Waikiki Mixed-Use Commercial Space

      Prime retail and office space in the heart of Waikiki.
      353 Royal Hawaiian Ave, Honolulu, HI 96815
      View Details
    • $13 SF/Yr
      2,292 SF

      Kuhio Avenue Retail Space Sublease

      Ground floor retail space available for sublease on Kuhio Avenue.
      2255 Kūhiō Ave, Honolulu, HI 96815
      View Details
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    Honolulu, HI 96815
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    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.

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