$10,500,000 12,937 SF

41-1537 Kalanianaole Hwy, Waimanalo, HI 96795
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This multi-tenant retail center is located at 41-1537 Kalanianaole Highway in Waimanalo, Hawaii, and includes fee simple parcels identified as TMK 1-4-1-009: 275 and 2758/278 under a Master Ground Lease. The property has approximately 36,000 square feet of leasable area, including approximately 6,300 square feet of second-floor office space. Parking is provided for approximately 95 vehicles. The site is configured to support multiple tenants and was approximately 65% occupied at the time of the listing. The Master Ground Lease is scheduled to expire on 12/14/2026.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?

$79k

Tax billed · 2023

Assessed value · 2024$6.86M

Assessed land$5.32M

Assessed improvement$1.54M

Effective rate1.15%

Value estimate

· Nov 2026

$2.95M

$2.66M – $3.25M

CAP approach$3.44M

Submarket $/SF estimate$1.79M

NOI build-up

Gross scheduled income$1.43M

Vacancy & credit loss−$69k

Operating expenses−$408k

NOI · 9.08% cap applied$953k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?

$432/SF

County average, outlier-cleaned · 615 recorded sales of this use type

Observed band · Q1–Q3$167 – $761

Cap rate analysis

How does the asset earn?

9.08%

$953k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?

B-1

JurisdictionHONOLULU

Location intelligence

Which uses thrive at this corner?

41-1537 Kalanianaole Hwy Waimanalo, HI 96795

County assessor Recorded deeds · 5 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 6 properties nearby

Address Sale price Sold Size

41-1540 Kalanianaole, Waimanalo, HI 96795-1136 $433,743 May 2025 2,400 SF

41-1029 Kalanianaole, Waimanalo, HI 96795-1641 $675,000 Dec 2022 1,998 SF

41-1025 Kalanianaole, Waimanalo, HI 96795-1641 $1,000,000 Aug 2022 880 SF

41-1517 Kalanianaole, Waimanalo, HI 96795-1137 $1,666,667 Feb 2021 196 SF

41-865 Kalanianaole, Waimanalo, HI 96795-1626 $1,000,000 Mar 2020 2,441 SF

41-38 Wailea, Waimanalo, HI 96795-1618 $75,816 Aug 2019 1,834 SF

Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.

Comparable nearby

Value Estimation
$3,090,000

12,044 SF

41-1801 Kalanianaole Hwy

COMMERCIAL (GENERAL)

41-1801 Kalanianaole Hwy, Waimanalo, HI 96795-1146

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Value Estimation
$1,915,000

14,975 SF

41-972 Oluolu St

COMMERCIAL (GENERAL)

41-972 Oluolu St, Waimanalo, HI 96795-1521

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Value Estimation
$1,975,000

15,382 SF

41-1800 Kalanianaole Hwy

COMMERCIAL (GENERAL)

41-1800 Kalanianaole Hwy, Waimanalo, HI 96795-1145

View Details
Value Estimation
$1,065,000

8,039 SF

41-1606 Kalanianaole Hwy

COMMERCIAL (GENERAL)

41-1606 Kalanianaole Hwy, Waimanalo, HI 96795-1138

View Details
Value Estimation
$1,020,000

7,680 SF

41-1347 Kalanianaole Hwy

COMMERCIAL (GENERAL)

41-1347 Kalanianaole Hwy, Waimanalo, HI 96795-1247

View Details
Value Estimation
$830,000

6,338 SF

41-929 Waikupanaha St

COMMERCIAL (GENERAL)

41-929 Waikupanaha St, Waimanalo, HI 96795-1132

View Details