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$1,200,000
6 Beds ⋅ 3 Baths ⋅ 732085 MLS ⋅ ['Fee Simple'] Tenure
Permitted multi-unit opportunity in a convenient location close to Kailua-Kona, Ellison Onizuka Kona International Airport, and Waikoloa. This legal duplex offers exceptional flexibility for investors or owner-occupants, featuring two electric meters, separate washer and dryer hookups, generous locked storage for each unit, and ample on-site parking. The exterior was recently painted, and the roof was replaced approximately 2005-2006. Both units are spacious and offer excellent privacy. The upstairs unit is accessed via newly constructed stairs and a covered porch landing. It features 3 bedrooms, 2 bathrooms, a large covered lanai with ocean and coastline views, and a kitchen appointed with beautiful custom African mahogany cabinetry and a Sub-Zero refrigerator. The primary suite includes a walk-in closet, ensuite bathroom, and direct access to the lanai, which spans nearly the entire length of the home. The downstairs unit is accessed through the covered carport and offers 3 bedrooms, 1 bathroom, a spacious living area, and a functional layout ideal for long-term tenants, multi-generational living, or guests. Sliding doors open to a private backyard patio with a concrete lanai, creating an inviting outdoor living space. The spacious yard features a mature avocado tree and offers plenty of room for gardening, entertaining, grilling, a dog run, or creating your own outdoor oasis. The front and rear yards are separately fenced, providing added privacy and flexibility, while attractive rock walls border much of the property. Seller holds an inactive Hawaii real estate license.

73-1145 Loloa Dr, KAILUA KONA

Listing courtesy of Livingston Realty.

$1,300,000
4 Beds ⋅ 4 Baths ⋅ 732306 MLS ⋅ ['Fee Simple'] Tenure
Rarely available four-unit income property located at the top of Sea View Circle in Kona Sea View Lots. This well-maintained multi-family property offers approximately 3,344 sq ft of interior living space on a generous 8,202 sq ft lot, with ocean views from each unit. Built in 1991, the property features four separate units totaling 4 bedrooms and 4 bathrooms, making it an excellent opportunity for investors seeking stable rental income or an owner-occupant looking to offset living costs. Key features include: • Brand new roof • Separately metered electricity for each unit • One assigned parking stall per unit • Tenant occupied with established rental income • Shared laundry facility • Additional storage space assigned to each unit Ideally positioned near the top of the subdivision, the property enjoys cooler elevation, ocean views, and convenient access to Kailua-Kona town, shopping, dining, and the main highway. Whether you are expanding your Hawai‘i real estate portfolio or seeking a multi-unit investment with built-in income, this property presents a compelling opportunity in one of Kona’s most desirable areas.

77-6573 Sea View Circle, KAILUA KONA

Listing courtesy of Hawaii Development Group.

$950,000
4 Beds ⋅ 5 Baths ⋅ 731426 MLS ⋅ ['Fee Simple'] Tenure
Investment Opportunity at 75-190 Alakai St. A Multi-Unit Property with Strong Rental Income & Value-Add Potential! Opportunity awaits with this income-producing multi-unit property in the heart of Kailua-Kona. Currently generating $7,250 per month ($87,000 annually) in rental income, this property offers immediate cash flow while providing significant upside for investors, contractors, or owner-occupants looking to increase value through renovations and improvements. The current layout includes: Upper Front Unit: 2 bedroom / 1 bathroom with kitchen and living area Upper Rear Unit: 1 bedroom / 1 bathroom with kitchen and living area Lower Unit: 1 bedroom / 1 bathroom Additional Rental Space: Separate room currently rented, plus five storage rooms and an additional bathroom offering flexibility for storage or other potential uses (buyers to conduct their own due diligence regarding permitted use). One of the property's biggest advantages is its generous lot with the potential to create additional off-street parking—an attractive feature that can add convenience and increase long-term value. Conveniently located just minutes from Historic Kailua Village, restaurants, shopping, grocery stores, schools, medical facilities, and the Kona waterfront, the property also offers quick access to Alii Drive, beaches, snorkeling, fishing, and outdoor recreation. Its central location makes it desirable for long-term tenants seeking easy access to employment, services, and everyday amenities. Whether you're looking to renovate and maximize rental income, build equity through improvements, or occupy one unit while generating income from the others, this property offers exceptional flexibility and investment potential in one of Kona's most convenient locations. Bring your vision and unlock the possibilities this rare multi-unit opportunity has to offer.

75-190 Alakai St, KAILUA KONA

Listing courtesy of Coldwell Banker Island Properties - Kona.

$8,875,000
20 Beds ⋅ 25 Baths ⋅ 730091 MLS ⋅ ['Fee Simple'] Tenure
Rare offering of stabilized apartment income property at Alahou Street Apartments. 25 units in two newer buildings, with 8 2-bedroom units in building A built in 2012 and 15 studio units plus 2 2-bedroom units in Building B built in 2018, both being in excellent condition. Total of 10 2-bedroom units and 15 studio units located in the heart of Kailua-Kona town. With a high barrier to entry due to lack of water and zoned land, there are no new competing projects planned in the area at this time, leading to consistent rental pressure over time and high occupancy, typically pushing 100%. Great parking and walking distance to shopping and dining add to the desirability of this project. Priced at $8,875,000, which represents a 5.5% capitalization rate on Trailing Twelve Months (T-12) financial performance, this Offering provides an excellent opportunity for investing in the Kailua-Kona market, one of Hawaii's most popular resort/residential markets. With the planned new hospital and other growth in the area, continued upward pressure on rents and high occupancy is very likely. Walkability score of 72. Potential to convert the project to a Condominium Property Regime is available.

75-5749 Alahou St Unit 25, KAILUA KONA

Listing courtesy of Pacific Realty Organization LLC.

$1,595,000
8 Beds ⋅ 6 Baths ⋅ 726148 MLS ⋅ ['Fee Simple'] Tenure
Are you looking for a Multi-Family and/or an Income Property? One Lot with Two Updated Homes each includes Upper-Level Main Living areas and Lower-Level Guest Quarters with private entrances. Located above the airport at an ideal elevation with panoramic Ocean and Sunset views in a quiet neighborhood with convenient access to Kailua-Kona town and the Kohala Gold Coast. Both areas offer a variety of restaurants, shopping and beaches. North located home: The open-beam ceilings in the Great Room divide the two-bedroom suites, each with a walk-in closet, four-piece bathroom, sliding doors to private covered tiled lanais. Kitchen has bright white cabinets and appliances. Guest quarters have 2 bedrooms/1 full bath, wet-bar, cabinets, vinyl & tile flooring. West side windows w/ garden views. Separate entrances to the Storage Room and Laundry. Two storage buildings for yard tools and beach toys are towards the back of the property. South located home: Two car carport and laundry closet, new roof, open-beam ceilings, 3 bedroom & 1 ¾ bath. Updated Kitchen, bathrooms and tile floors. Covered Lanai the full length of the house on both levels. Guest quarters 1 bedroom/1 bath, updated bathroom, wet bar, cabinets, vinyl and tile flooring. The Kona Coast is known for year-round warm weather to enjoy World Class Fishing & Marlin Tournaments, Iron Man, Canoe racing, and it’s a golfer’s paradise! There is something for everyone: whether you desire a bare foot stroll along soft white-sand beaches, swimming in warm cleansing saltwater, or snorkeling and diving spots in protected coves, or just a spot to sit along the shore and listen to the waves and watch the sunset – Kona has it all! It is an amazing place to call home or enjoy a relaxing sunny vacation in the midst of the Aloha spirit and culture. All comments, data is provided by Seller, Buyer to confirm all & hold all parties harmless from any discrepancy data in the MLS and advertising, limited service-data entry Addendum

73-1153 Ahikawa St Unit A & B, KAILUA KONA

Listing courtesy of Nathalie Mullinix Realty Universal, Inc..