| Description | Long leasehold through 2078 with a fixed lease rent of just $48/month through the year 2078. Excellent opportunity for a first-time buyer, investor, or convenient Oahu retreat at an affordable price point. This comfortable and well-maintained studio is located on the 16th floor of the popular Five Regents and offers mountain and city views from a large picture window. The kitchen and bathroom have been updated. Five regents feature a wide range of amenities, including a swimming pool, tennis court, BBQ area, recreation and meeting rooms, community laundry, resident manager, ample guest parking, and 24-hour security. Centrally located in Salt Lake with easy access to Tripler Army Medical Center, Pearl Harbor, the airport, Downtown Honolulu and Salt Lake Shopping Center. The current tenant's lease runs through July 2026, and the tenant would like to stay. Current rent is $1,650/month. |
|---|---|
| Status | Active since 02-11-2026 |
| MLS# | 202603404 |
| Price | $168,000 |
| Original Price | $180,000 |
| Price Change | $-12,000 (-6.67%) |
| Beds / Baths / Half | 0 / 1 / 0 |
| Parking Spaces | 1 |
| Living Sq Ft | 300 |
| Land Tenure | LH - Leasehold |
| Maintenance Fee | $532 |
| Building | Five Regents |
| Address | 2888 Ala Ilima Street 1607 Honolulu HI 96818 |
| Region | Metro |
| Neighborhood | Salt Lake |
| Days on Market | 228 |
| Year Built | 1978 |
| Year Remodeled | 2025 |
| Condition | Excellent,Above Average |
| View | City, Sunset |
| Frontage | Other |
| Parking | Covered - 1 |
| Zoning | 12 - A-2 Medium Density Apartme |
| Flood Zone | Zone X |
| Elementary | Salt Lake |
| Middle | Moanalua |
| High | Moanalua |
| Tax Amount | $73 |
| Assessed Land | $18,600 |
| Assessed Building | $231,400 |
| Assessed Total | $250,000 |
| Assessed Ratio | 67% |
| Inclusions | AC Window Unit, Disposal, Drapes, Intercom, Microwave, Range/Oven, Refrigerator, Smoke Detector |
| Amenities | BBQ, Community Laundry, Condo Association Pool, Resident Manager, Sauna, Security Guard, Tennis Court, Trash Chute |
| Construction | Concrete |
| Flooring | Vinyl |
| Disclosures | None, Pets Allowed (Verify) |
| Land Recorded | Land Court |
| Possession | At Closing, Subject to Rental Lease |
| Sale Conditions | None |
| Building Style | High-Rise 7+ Stories |
| Security | Card, Security Patrol, Video |
| Leasehold | Lease rent $48 / 2078 · Buy fee |
| Parcel # | 1-1-1-062-024-0138 |
| Listing courtesy of | Coldwell Banker Realty |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 05-18-2026 | 202603404 | Price Decrease | $180,000 | $168,000 | $168,000 | $0 | $250,000 | $18,600 | $231,400 |
| 02-11-2026 | 202603404 | New Listing | A | $168,000 | $0 | $250,000 | $18,600 | $231,400 | |
| 08-12-2022 | 202201906 | Sold | C | S | $170,000 | $160,000 | $216,000 | $17,300 | $198,700 |
| 07-18-2022 | 202201906 | In Escrow Showing | A | C | $170,000 | $160,000 | $216,000 | $17,300 | $198,700 |
| 06-06-2022 | 202201906 | Back On Market | C | A | $170,000 | $160,000 | $216,000 | $17,300 | $198,700 |
| 05-16-2022 | 202201906 | In Escrow Showing | A | C | $170,000 | $160,000 | $216,000 | $17,300 | $198,700 |
| 02-03-2022 | 202201906 | New Listing | CS | A | $170,000 | $160,000 | $216,000 | $17,300 | $198,700 |
| 01-30-2022 | 202201906 | Coming Soon | CS | $170,000 | $160,000 | $216,000 | $17,300 | $198,700 |
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