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Property profile & analytics
OFF-MARKET
Estimated value
$166,320,000
Hotels
2490 Kalakaua Ave, Honolulu, HI 96815-3240
Entity Owned
3-yr Hold
Property ID
US24-0286063
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1978
Total area
319,857 SF
Lot
2.56 ac (111,676 SF)
Zoning code
U/X6/20
APN
1-2-6-026-020
UPID
US24-0286063
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Island Club and Spa Gym & Fitness Center
-
SIXT rent a car Car Rental Facility
-
DRIP HAWAII Spa & Massage Center Alternative Medicine Practice
-
SIXT Rent A Car Honolulu Waikiki Beach Car Rental Facility
-
Exotic Car Collection by Enterprise Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$166.32M
Owner & transaction history
Koa Management LLC · 3 yrs held
Koa Management LLC
since 2023
7 recorded transactions
Zoning & alternative use
U/X6/20 · Honolulu, HI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Honolulu submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Honolulu submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$275,475,000
Current use
COMMERCIAL (GENERAL)
$222,125,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$166.32M
Range $149.69M – $182.95M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$520 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$5,595,835
Tax year 2023
Assessed value
$418,102,400
Assessed 2024
Previous assessed
$390,429,800
+7.1% YoY
Effective rate
1.34%
On assessed value
Assessed land
$222,793,600
Assessed improvement
$195,308,800
Land market value
$222,793,600
Improvement market value
$195,308,800
Total market value
$418,102,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1978
Heating
NONE
Cooling
CENTRAL
Buildings
3
Stories
16
Units
837
Bathrooms
12
Total area
319,857 SF
Lot
2.56 ac (111,676 SF)
Zoning code
U/X6/20
APN
1-2-6-026-020
UPID
US24-0286063
Jurisdiction
HONOLULU
Zoning & alternative use
U/X6/20 · Honolulu, HI
Zoning U/X6/20 · permitted uses
U/X6/20 · Honolulu, HI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Honolulu. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$275.5M
COMMERCIAL (GENERAL)
Est. value
$222.1M
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Heating
NONE
Cooling
Yes
Stories
16
Buildings
3
Units
837
Bathrooms
12
Lot
2.56 ac
Current owner
From public records · entity-resolved
Koa Management LLC
Entity
Mailing address
1114 AVE OF THE AMERICAS FL #39, NEW YORK, NY 10036-7702
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2023
—
Koa Management LLC
Hh Pacific Beach LP
Lease
—
Jul 1, 2022
—
Koa Management LLC
Hh Pacific Beach LP
Lease
—
May 12, 2022
—
Koa Management LLC
Hh Pacific Beach LP
Lease
—
Oct 25, 2019
—
2490 Kalakaua Ave Ground Owner
—
Grant Deed
related
$122,000,000 · Miscellaneous Ins Co
Apr 26, 2017
$361,273,500
Koa Management LLC
Hh Pacific Beach LP
Trustees Deed
$181,000,000 · Landesbank Baden-wurttemberg
Mar 22, 2016
—
Koa Management LLC
Sun Life Assurance Co Of Canada
Grant Deed
related
—
Aug 10, 2004
—
Koa Management LLC
Pacific Beach Corp
Grant Deed
$35,000,000 · Ubs Real Estate Investment INC
—
—
Koa Management LLC
—
Deed Of Trust
related
$300,000,000 · Deutsche Bk Ag/ny Branch
—
—
Koa Management LLC
—
Deed Of Trust
related
$31,234,368 · Sun Life Assurance Co
—
—
Koa Management LLC
—
Loan Modification
related
$28,022,362 · Miscellaneous Ins Co
—
—
Koa Management LLC
—
Deed Of Trust
related
$38,000,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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