| Description | ATTENTION INVESTORS – STRONG CASH FLOW OPPORTUNITY! Multi-unit income-producing property in Waianae generating $11,271/month in rental income with a current 6.9% CAP rate and potential to increase to 8%. The 4-bedroom unit is currently rented at $2,500/month, while 2026 City & County Section 8 guidelines show potential rents up to $3,997/month. Monthly expenses remain low with property taxes at approximately $304/month and combined water/electric averaging about $1,100/month. Property features multiple units with new roofs on the front two structures and is currently in the process of obtaining permits for separate water and electrical meters, adding future flexibility and value. Property is also CPR-able, creating additional upside and multiple exit strategies. Conveniently located near beaches, shopping, schools, parks, and dining, including Pokai Bay and Tamura’s Market, making it attractive for long-term tenants and owner-occupants alike. VA financing may be possible. Strong income. Value-add potential. Multiple exit strategies. Don’t miss this opportunity! |
|---|---|
| Status | Active since 04-01-2026 |
| MLS# | 202606722 |
| Price | $1,765,000 |
| Original Price | $1,765,000 |
| Price Change | (0.00%) |
| Studio Units | 0 |
| One Bed Units | 0 |
| Two Bed Units | 1 |
| Three Bed Units | 3 |
| Land Sq Ft | 20,000 |
| Land Tenure | FS - Fee Simple |
| Maintenance Fee | $0 |
| Address | 84-956 Hanalei Street Waianae HI 96792 |
| Region | Leeward |
| Neighborhood | Makaha |
| Days on Market | 179 |
| Year Built | 1936 |
| Year Remodeled | 1946 |
| Condition | Average |
| View | Mountain |
| Parking | Assigned, Covered, Open |
| Zoning | 05 - R-5 Residential District |
| Flood Zone | Zone X |
| Tax Amount | $304 |
| Assessed Land | $976,500 |
| Assessed Building | $81,200 |
| Assessed Total | $1,057,700 |
| Assessed Ratio | 167% |
| Utilities | Overhead Electricity, Public Water, Sewer Fee |
| Construction | Above Ground, Single Wall, Wood Frame |
| Lot Features | Other |
| Disclosures | Licensed Owner, Listor Owner |
| Land Recorded | Regular System |
| Possession | Negotiable |
| Sale Conditions | None |
| Topography | Level |
| Roofing | Asphalt Shingle, Composition |
| Easements | Other |
| Parcel # | 1-8-4-012-016-0000 |
| Listing courtesy of | NextHome All Islands |
Property History from MLS
| Date | MLS# | Change | Old Value | New Value | List Price | Sold Price | Assessed Total | Land | Building |
|---|---|---|---|---|---|---|---|---|---|
| 04-01-2026 | 202606722 | New Listing | CS | A | $1,765,000 | $0 | $1,057,700 | $976,500 | $81,200 |
| 04-01-2026 | 202606722 | Coming Soon | CS | $1,765,000 | $0 | $1,057,700 | $976,500 | $81,200 | |
| 06-05-2025 | 202419403 | Sold | C | S | $1,395,000 | $1,240,000 | $1,042,300 | $976,500 | $65,800 |
| 02-05-2025 | 202419403 | Active Under Contract | A | C | $1,395,000 | $1,240,000 | $1,042,300 | $976,500 | $65,800 |
| 02-02-2025 | 202419403 | Price Increase | $1,295,000 | $1,395,000 | $1,395,000 | $1,240,000 | $1,042,300 | $976,500 | $65,800 |
| 11-13-2024 | 202419403 | Price Decrease | $1,395,000 | $1,295,000 | $1,395,000 | $1,240,000 | $1,042,300 | $976,500 | $65,800 |
| 09-04-2024 | 202419403 | New Listing | A | $1,395,000 | $1,240,000 | $1,042,300 | $976,500 | $65,800 | |
| 02-09-2018 | 201725245 | Sold | C | S | $850,000 | $900,000 | $691,900 | $514,500 | $177,400 |
| 12-18-2017 | 201725245 | In Escrow Showing | A | C | $850,000 | $900,000 | $691,900 | $514,500 | $177,400 |
| 12-06-2017 | 201725245 | New Listing | A | $850,000 | $900,000 | $691,900 | $514,500 | $177,400 |
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