| Description | $1.5M Price Improvement! --- HALE LANI MAKAI Penthouse-1 presents a rare opportunity for refined urban island living in a rapidly evolving neighborhood regarded as Honolulu’s next emerging "HOTSPOT". This thoughtfully renovated top-floor corner residence offers exceptional privacy and sweeping views spanning the mountains, city, ocean, golf course, and an unobstructed Diamond Head backdrop. Dramatic two-story windows and custom sliding doors fill the 3-bedroom, 3-bath home, plus a den/office, with abundant natural light and cooling trade winds, creating a seamless indoor–outdoor living experience. Ideally situated in a revitalized area near UH Manoa, 'Iolani School, shopping, and upcoming dining by the Aoki Group, with the added convenience of a new pedestrian bridge (expected 2027) providing direct access to Waikiki and the beach. This penthouse delivers a seamless balance of sophistication, comfort, and connectivity, well suited for discerning owner-occupants or investors seeking a premium in-town offering. |
|---|---|
| Status | Active since 04-21-2026 |
| MLS# | 202607568 |
| Price | $3,490,000 |
| Original Price | $5,000,000 |
| Price Change | $-1,510,000 (-30.20%) |
| Beds / Baths / Half | 3 / 3 / 0 |
| Parking Spaces | 3 |
| Living Sq Ft | 3,707 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $4,202 |
| Lanai Sq Ft | 533 |
| Building | Ala Wai Plaza Skyrise |
| Address | 555 University Avenue PH1 Honolulu HI 96826 |
| Region | Metro |
| Neighborhood | Kapiolani |
| Days on Market | 159 |
| Year Built | 1971 |
| Year Remodeled | 2025 |
| Condition | Excellent |
| View | City, Coastline, Diamond Head, Golf Course, Marina/Canal, Mountain, Ocean, Sunrise, Sunset |
| Frontage | Other |
| Parking | Assigned, Covered - 3+, Guest |
| Zoning | 13 - A-3 High Density Apartment |
| Flood Zone | Zone A |
| Tax Amount | $743 |
| Assessed Land | $288,000 |
| Assessed Building | $1,143,000 |
| Assessed Total | $1,431,000 |
| Assessed Ratio | 244% |
| Inclusions | AC Split, Cable TV, Chandelier, Convection Oven, Dishwasher, Disposal, Dryer, Microwave Hood, Microwave, Range/Oven, Refrigerator, Washer, Wine Refrigerator |
| Amenities | BBQ, Community Association Pool, Condo Association Pool, Other, Patio/Deck, Pool on Property, Recreation Area, Trash Chute, Wall/Fence |
| Construction | Concrete, Double Wall, Hollow Tile |
| Flooring | Ceramic Tile, Other |
| Disclosures | Property Disclosure Stmt |
| Furnished | Partial |
| Land Recorded | Land Court |
| Possession | At Closing |
| Sale Conditions | None |
| Building Style | High-Rise 7+ Stories |
| Security | Key, Keyed Elevator, Video |
| Parcel # | 1-2-7-013-008-0205 |
| Listing courtesy of | Compass |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 05-15-2026 | 202607568 | Price Decrease | $5,000,000 | $3,490,000 | $3,490,000 | $0 | $1,431,000 | $288,000 | $1,143,000 |
| 04-21-2026 | 202607568 | New Listing | A | $3,490,000 | $0 | $1,431,000 | $288,000 | $1,143,000 | |
| 04-11-2026 | 202600841 | Cancelled | A | W | $5,000,000 | $0 | $1,431,000 | $288,000 | $1,143,000 |
| 02-05-2026 | 202600841 | New Listing | CS | A | $5,000,000 | $0 | $1,431,000 | $288,000 | $1,143,000 |
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