Hilo Real Estate Search

Hilo Multi-Family Properties for Sale

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Newest Hilo Multi-Family Homes for Sale

441 Mohouli St Unit A & B, HILO
$1,195,000
8 Beds ⋅ 5 Baths ⋅ 734458 MLS ⋅ ['Fee Simple'] Tenure
Two beautiful homes on one rare grandfathered parcel in one of Hilo's most convenient neighborhoods. Set on an 18,024sf lot, this property offers the flexibility few Hawaii listings can match: comfortable multi-generational living or a diversified income portfolio with three distinct income streams. The front home, lovingly known as The Pineapple Retreat, was built in 1950 and refreshed in 2022. It's a welcoming traditional island style home with Hilo Bay views from the primary living areas. Below, an independent basement studio with its own private entrance, kitchenette, bathroom (and fallout shelter!) enjoys a stable longer-term tenancy - or easily combine the 2 units back to the original status to create a 4 bedroom, 2 bathroom single family home. The rear residence, Hilo Bayview, was built in 1980 and was fully renovated in 2021. Enjoy sweeping island vistas and trade-wind breezes from its upper living spaces, along with generous bedrooms and modern finishes throughout. The 4 bedrooms and 3 bathrooms are complemented by an office, storage area, and a home theater room. Both homes come fully furnished and currently operate successfully as short-term rentals, earning great guest reputations. From January 2027, the rear residence could continue as a 3 bedroom hosted Transient Vacation Rental (TVR) under the new Hawaii County code, with the on-site long-term co-host living in the front residence basement studio. Conditional approval has been granted with certificate BBR-00084. The front residence upstairs can be operated as a longer-term, 6 month minimum lease. A new septic tank system was installed in 2022. Minutes from downtown Hilo, farmers market, bayfront parks, restaurants, shopping, and the airport, 441 Mohouli balances island charm with a genuine investment opportunity. Enjoy a 3D walkthrough and floor plans at:- https://my.matterport.com/show/?m=q9Kz3uVZhmV&brand=0 Please do not disturb guests.

441 Mohouli St Unit A & B, HILO

Listing courtesy of David Hubbard - Sole Proprietor.

1360 Kaumana Dr, HILO
$830,000
6 Beds ⋅ 3 Baths ⋅ 734089 MLS ⋅ ['Fee Simple'] Tenure
Two renovated residences on a cleared and improved 0.70-acre lot in Kaumana, offering flexibility for residential use, guest accommodations, or potential rental opportunities, subject to applicable laws, regulations, and permits. Conveniently located with access to Saddle Road and Hilo, while situated in the cooler elevation of Kaumana. The main residence offers approximately 2,000 sq. ft. with 4 bedrooms and 2 bathrooms. Improvements include a renovated kitchen and bathrooms, new flooring, plumbing, windows, water heater, interior and exterior paint, and an updated open-concept layout. Windows throughout the home capture views of the surrounding tropical landscape. The second residence offers approximately 800 sq. ft. with 2 bedrooms and 1 bathroom. Updates include a remodeled kitchen and bathroom, new flooring, water heater, and interior and exterior paint. The property is set back from the roadway and includes a seasonal stream along the rear boundary. The lot has been cleared with select trees removed to improve usability while retaining established tropical vegetation. Convenient access to Hilo shopping, dining, services, and other everyday amenities. Buyer and buyer’s agent to independently verify all property details, permitted uses, square footage, improvements, and any applicable requirements with the appropriate authorities.

1360 Kaumana Dr, HILO

Listing courtesy of eXp Realty.

256 Kapiolani St, HILO
$3,249,000
30 Beds ⋅ 15 Baths ⋅ 732420 MLS ⋅ ['Fee Simple'] Tenure
Fantastic Turnkey Multifamily INCOME Property in Hilo Opportunity Zone. An exceptional investment opportunity located near downtown Hilo. This professionally managed 15-unit apartment building features 15 onsite parking stalls and consists entirely of 2-bedroom, 1-bathroom units (approx. 660 sq. ft. each, totaling 9,900 sq. ft. of living area). Tenants enjoy ocean views from the second and third-floor walkways and a newly installed on-site laundry facility. The building has undergone extensive, high-quality capital improvements. All 15 units boast fully remodeled interiors with brand-new flooring, fresh paint, and completely updated bathrooms. The modernized kitchens include new cabinetry, quartz countertops, new refrigerators, stove hoods, and individual water heaters. Major structural and systemic upgrades provide immediate peace of mind for the new owner. All exterior walkways and stairways have been completely rebuilt. Crucial plumbing updates include a newly replaced main sewer line to the County road and new under-slab main floor sewer lines. Located in a highly desirable Opportunity Zone, this turnkey asset is perfectly positioned for a seamless transition. NDA required to review financials.

256 Kapiolani St, HILO

Listing courtesy of Sherrill A Erickson dba HALE 414.

446 Ainalako Rd, HILO
$1,199,000
6 Beds ⋅ 5 Baths ⋅ 730393 MLS ⋅ ['Fee Simple'] Tenure
TROPICAL MULTI-HOME OASIS – TWO HOMES ON 1 ACRE IN HILO Discover a rare opportunity to own a beautifully maintained one-acre tropical oasis featuring two separate homes, offering exceptional flexibility for multi-generational living, extended family, guests, a private retreat, or potential rental use. The main residence is a stunning 2-story, 4-bedroom, 3-bath home with 2,603 sq. ft. of living space. Vaulted ceilings, skylights, and abundant windows fill the home with natural light. Beautiful koa cabinetry and quality wood craftsmanship add warmth and character throughout, while the chef's kitchen is perfect for gathering and entertaining. Lanais on both levels create wonderful indoor-outdoor living spaces. The second residence offers 2 bedrooms, 2 baths, and 1,224 sq. ft., featuring vaulted ceilings, spacious bedrooms, natural light, and lanais. Together, the two homes provide approximately 3,827 sq. ft. of living space. The grounds are a true tropical treasure, meticulously maintained with 30+ mature, fruit-producing trees, including lychee, mangosteen, mango, and much more. Enjoy privacy, beauty, and the abundance of growing your own tropical fruit. Additional features include a storage building with electric, complete fencing, and an automatic gate for added privacy and security. PROPERTY HIGHLIGHTS • 1 Acre • 2 Separate Homes • 6 Bedrooms | 5 Bathrooms • Approx. 3,827 Sq. Ft. Combined • Main Home: 4 BD / 3 BA / 2,603 Sq. Ft. • Second Home: 2 BD / 2 BA / 1,224 Sq. Ft. • Vaulted Ceilings & Skylights • Chef's Kitchen & Koa Cabinetry • Beautiful Wood Craftsmanship • Multiple Lanais • Abundant Natural Light • 30+ Fruit-Producing Trees • Lychee, Mangosteen, Avocado & More • Paid off solar system!! • Completely Fenced • Automatic Gate Two homes. One acre. Great location. Endless possibilities.

446 Ainalako Rd, HILO

Listing courtesy of Coldwell Banker Island Properties - Kamuela.

30 Kanoelani St Unit 2, HILO
$750,000
4 Beds ⋅ 6 Baths ⋅ 731329 MLS ⋅ ['Fee Simple'] Tenure
Experience the best of Big Island living on this spacious beautifully landscaped property. The expansive yard, mature tropical surroundings, and charming rock walls create a welcoming island atmosphere. With generous indoor and outdoor living spaces there's plenty of room for entertaining, extended family, or simply enjoying the peaceful surroundings. Located in a desirable community with easy access to nearby schools and shopping. The property, a little over half an acre, combines comfort, functionality, and island charm. Building 1: Unpermitted porch enclosed and attached to main home is built in a workmanlike manner and consistent for the neighborhood. The main 1,948sf area offers a unique opportunity to bring your vision to life. The space is currently in need of renovation, maintenance and repairs. Ideal for someone looking to restore and customize to their own needs and style. With the right improvements, this spacious area has excellent potential to become beautiful and functional. Building 2 is a permitted structure. 800 sqft total, 1 bedroom and 2 bath. You could settle in building 2 as you rebuild the main living space. Must see to appreciate this property. Cash buyers only.

30 Kanoelani St Unit 2, HILO

Listing courtesy of Property Professionals Hawaii LLC..

2133 Kinoole St, HILO
$535,000
6 Beds ⋅ 2 Baths ⋅ 731812 MLS ⋅ ['Fee Simple'] Tenure
Opportunity meets versatility in this centrally located Hilo property just off of Kinoole St. near Kawailani. With 6 bedrooms and 2 bathrooms, this home is ideal for multi-generational living, savvy investors, or owner occupants looking to offset mortgage with rental income. Designed for flexibility, the home can function as two separate living spaces or one expansive residence, featuring an interior connection between levels, along with private exterior entrances for each floor. The upstairs has been updated and includes a full kitchen with all stainless kitchen appliances, a gas stove and plenty of cross through breeze to create a bright and welcoming dining room space. Downstairs includes a large main living area, three bedrooms, one large bathroom, and a convenient kitchenette with a refrigerator, freezer, microwave, toaster oven, and portable cook top--ideal for extended family guest or flexible living arrangements. The fully fenced large lot provides both privacy and functionality, with ample parking and special outdoor features. The solid outdoor picnic table is a great place to enjoy the property and a great place for pau hana with friends/family is around the custom lava rock BBQ and waterfall/pond feature. Multiple, well constructed dog kennels are in place on the side of the home. The kennels can easily become individual locked storage areas, if that is preferred. The grassy yard is a wonderful aspect of this property. Great for gatherings and gardening or simply a place to let your kids/pets play. Located just minutes from UH Hilo, great public schools, shopping and dining, this property combines everyday convenience with exceptional flexibility --making it a rare opportunity with both lifestyle and investment appeal.

2133 Kinoole St, HILO

Listing courtesy of Salt Water Real Estate LLC.

346 Lehua St, HILO
$610,000
4 Beds ⋅ 2 Baths ⋅ 731044 MLS ⋅ ['Fee Simple'] Tenure
Rare income-producing duplex walking distance to Downtown Hilo. Two spacious 2-bedroom, 1-bath units, each with upgraded electrical and plumbing, make this a smart choice for owner-occupants looking to offset housing costs or investors seeking a low-maintenance rental property. The duplex has performed well as both a long-term and hosted vacation rental. The upstairs unit has plantation-era charm with 9' ceilings, large double-hung windows, and a front lanai that overlooks mature tropical landscaping. Inside, the open kitchen and living area have been updated with granite countertops, new fixtures, and engineered hardwood floors. The kitchen includes a gas range and ample counter space, with a stacked washer/dryer tucked into the pantry. Two well-sized bedrooms share a full hall bathroom. R-30 attic insulation and Hilo breezes keep the temperature comfortable year-round. The property has piped propane gas, an uncommon feature in Hilo that helps keep utility costs low. A walking path leads to the lower unit, which opens into a screened lanai. Recent updates to this unit include vinyl flooring, drywall, fresh paint, LED lighting, and modern fixtures. The bright full bathroom features custom tile work. A hall closet provides extra storage, with in-unit laundry. A full-height basement sits below. The backyard is private and lush, with tropical foliage, a grassy area, and mature citrus. Situated on Lehua Street just over the Wailuku River in lava zone 8, the property is walkable to Downtown Hilo restaurants, K-12 public schools, the Farmers Market, public library, Kapalaoa Landing Beach Park, and the Bayfront recreation area. Showings by appointment only.

346 Lehua St, HILO

Listing courtesy of Salt Water Real Estate LLC.

76 Palai St, HILO
$737,000
5 Beds ⋅ 6 Baths ⋅ 729656 MLS ⋅ ['Fee Simple'] Tenure
Nice rental property in Hilo. All units have been renovated and are rented. Three individual and separate rentals with carports. One TMK# makes for easy management. Good tenants, good income. Subdivision possible. Renovations on all three units: New roofing & refinished in some areas New countertops, Quartz in unit B New paint, interior and exterior New windows in unit B New bathrooms New flooring New lighting, fans New hardware New faucets New carpentry work throughout Fumigation was completed. All units have a separate electric meter installed by HELCO. Excellent rent roll. The 3 structures are permitted and were built previously to Hawaii county building code in 1976 and are considered legal non-conforming use which does not need a variance from Hawaii county. See the attached addenda from the county confirming this. Also, there is a Survey attached. Please schedule showings for after 10:30 am

76 Palai St, HILO

Listing courtesy of Big Island Properties.

619 Mililani St, HILO
$675,000
5 Beds ⋅ 3 Baths ⋅ 728219 MLS ⋅ ['Fee Simple'] Tenure
Unique investment opportunity in the heart of Hilo featuring two separate homes on one lot, offering flexibility for multi-generational living or rental income. Surrounded by a mix of residential and commercial properties, there may be potential to pursue commercial zoning (buyers to verify with the County) The first home, a charming multi-level residence (white home), was originally built in 1932 and refreshed in 2020, featuring two bedrooms and two bathrooms (one ¾ bath and one ¼ bath). The second dwelling, a yellow multi-level home built in 1985, offers two bedrooms and one full bathroom on the upper level, with an additional bedroom and ¾ bathroom on the lower level. This versatile property presents multiple possibilities for investors or owner-occupants alike — generate rental income from both homes, live in one while renting the other, or accommodate multi-generational living. Conveniently located just minutes from shopping, dining, and outdoor recreation, including the nearby Hilo Shopping Center and Wailoa State Park. **Information herein is based on county records and may not reflect actual property details. Buyers and buyer’s agents are advised to independently verify all material facts deemed important to their purchase.**

619 Mililani St, HILO

Listing courtesy of Coldwell Banker Island Properties - Hilo.

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