84-916 Hanalei Street,Waianae, HI 96792
Waianae, HI 96792
Description
Rare investment opportunity featuring four detached single-family homes on an R-5 zoned lot. Ideal for investors, 1031 exchange buyers, or multi-generational living, this versatile property combines steady cash flow, privacy, and long-term value creation. The property includes two 3-bedroom and two 2-bedroom residences. Each home boasts its own private fenced yard and dedicated parking, providing tenants with single-family independence. Operating expenses remain exceptionally low as tenants pay all utilitiesincluding water, sewer, gas, and electricity. Turnkey performance meets huge upside. Units A (3-bed) and B (2-bed) were renovated in 2025, commanding top-of-market rents. Currently operating at a 5.06% cap rate on $74,640 in annual income, bringing below-market units to prevailing rates unlocks an extra $15,600 annually, pushing the potential cap rate to 6.12%. Don't miss this well-maintained, high-yield asset!
Details
| MLS # | 202614927 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1938 |
| Days On Site | 18 |
| Listing Provided By | Asian Pacific Investments LLC | Jared Miyamoto |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,662 |
| Car Port | Yes |
| Story(s) | 1 |
| Zoning | 05 - R-5 Residential District |
| Property View | None |
Exterior
| Construction Materials | Single Wall, Wood Frame |
|---|
Interior
| Inclusions | Ceiling Fan, Water Heater |
|---|
Other
| Community Features | None |
|---|
Taxes
| Property | 4032 |
|---|
Area Information
| State | HI |
|---|---|
| County | Oahu |
| City | Waianae |
| Zip Code | 96792 |
| Area | Oahu |
| Community Name | MAKAHA |
| School District | Waianae |
| Elementary School | Makaha |
| High School | Waianae |
| Listing VS Median (in MAKAHA) | |
Price: $1,475,000 low | high Med: $299,000 sqft: 2,662 low | high Med: 803 $ / sqft: $554 low | high Med: $372 On site: 18 low | high Med: 94 | |
Market Activity 96792
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Learn More About This Property
| State | HI |
|---|---|
| County | Oahu |
| City | Waianae |
| Zip Code | 96792 |
| Area | Oahu |
| Community Name | MAKAHA |
| School District | Waianae |
| Elementary School | Makaha |
| High School | Waianae |
| Listing VS Median (in MAKAHA) | |
Price: $1,475,000 low | high Med: $299,000 sqft: 2,662 low | high Med: 803 $ / sqft: $554 low | high Med: $372 On site: 18 low | high Med: 94 | |