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$5,688,000
24 Beds ⋅ 24 Baths ⋅ 732045 MLS ⋅ ['Fee Simple'] Tenure ⋅ City View BLDG.
This exceptional property offers 24 fully renovated apartment units — twenty-one 2-bedroom and three 3-bedroom units — in the heart of Hilo. The building underwent a comprehensive $952,000 gut renovation in 2025, inside every unit, including new luxury vinyl plank flooring, new high-end cabinets, granite countertops, sinks and faucets, all new stainless steel refrigerators, stoves and range hoods, updated bathrooms with new vanities and lighting, new ceiling fans in all bedrooms and living rooms, and fresh interior paint throughout. The property is 100% leased with professional management in place and includes 28 on-site parking stalls. Located in downtown Hilo — the county seat and regional hub for UH Hilo, healthcare, and government employment — supporting deep, stable rental demand. A recent condo conversion at a comparable Hilo building validates an embedded condo-conversion exit as additional upside. This is a trophy, renovated asset in a submarket where fully stabilized investment properties are rarely available for sale and is truly "turnkey" for a buyer. 5.5% cap rate on stabilized income!

230 Kapiolani St, HILO

Listing courtesy of Coldwell Banker Realty.

$570,000
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.

$1,950,000
9 Beds ⋅ 4 Baths ⋅ 731841 MLS ⋅ ['Fee Simple'] Tenure
This towering plantation-era residence features old Hawaiʻi lodge-style architecture and an incredible location near Hilo’s most popular shoreline recreation areas. Built in 1934, the property is a highly sought-after hosted vacation rental, with an impressive track record of both income and occupancy. Positioned on a 31,500+ square foot parcel, the nine-bedroom / four-bath residence offers 6,500+ square feet of usable area and a sense of scale rarely found in Hawaiʻi. The heart of the home is an immense two-story great room, featuring soaring pitched ceilings, warm wood walls, arched openings, and a grand staircase that creates an immediate sense of arrival. Generous gathering areas, screened lanais, and flexible guest accommodations support a variety of uses, from continued hospitality operations to a one-of-a-kind private residence. Features - 9 bedrooms / 4 baths - 6,500+ sqft under roof - 31,523 sqft lot - RS-15 zoning - Plantation-era Hawaiian lodge architecture, built in 1934 - Close proximity to oceanfront parks and beach access - Soaring two-story great room with grand dual staircase - Large kitchen and generous dining area - Flexible guest accommodations across multiple levels - Screened lanais for indoor/outdoor living -Fully dedicated caretaker quarters - Tropical landscaping and private setting - High-performing, high-occupancy vacation rental Built nearly a century ago, the home's current square footage estimates do not match county tax or permit records and may contain discrepancies. Buyers and agents to perform their own due diligence. Please do not disturb occupants. Financials available upon request with signed NDA.

1896 Kalanianaole St, HILO

Listing courtesy of COMPASS.

$1,300,000
7 Beds ⋅ 4 Baths ⋅ 731792 MLS ⋅ ['Fee Simple'] Tenure
Four unit home with ocean views that was remodeled in 2024. Nice long term tenants. Some units are partially furnished. Lower level Studio with full kitchen 2 bedroom with full kitchen Shared laundry Main level is a 3/2 with full kitchen, laundry, 2 stall garage, and pool table Upper level is attached to the main level with interior stairs and also has exterior stairs so can be part of main unit or its own unit. Currently an independent unit with one bedroom and kitchenette. All units have lanais and ocean views. Up Kaiwiki Road so cooler than downtown Hilo. All tenants are long term and enjoy their units. Property has always been easy to find good renters. Currently grossing almost $8000/month. Whole inside was recently painted and both lower units have new kitchens and countertops.

2107 Kaiwiki Rd, HILO

Listing courtesy of Bizwala.

$7,999,999
8 Beds ⋅ 8 Baths ⋅ 731551 MLS ⋅ ['Fee Simple'] Tenure
Set on 9.63 acres outside Hilo, this furnished 8-bedroom, 8-bath estate combines ocean views, agricultural land, handcrafted architecture, and flexible living across three levels. The custom teak residence offers 7,270 sqft of living area, 3,577 sqft of covered lanais. Currently operating as a BnB, suited for hosted accommodations, retreats, multi-generational living, or private guest use. Major 2020–2024 renovation, the home includes updated plumbing, electrical, Andersen insulated windows and sliders, new fixtures, split A/C in every bedroom and living area, and a new metal roof. Inside the home: - Split A/C in every bedroom and living area - Custom woodwork, including teak, koa, rainbow eucalyptus, monkeypod, robusta, ironwood, and silky oak - Hand-carved full-wall sculptures, live-edge details, island wood inlays, murals, and custom artwork - Granite counters, custom cabinetry. - Porcelain and stone showers, double vanities, soaking tub, and walk-in showers - Laundry room on each level - Game room Outside the home: - 3,577 sqft across 5 covered lanais - 720 sqft garage - Glass bridge over a lava-stamped koi pond - Custom rock walls and handcrafted gated entrance - Jacuzzi and surfboard-style outdoor shower - Panoramic ocean and sunrise views Farm, shop, and land features: - 2,430 sqft barn/shop and wood mill - 8 fenced paddocks, some with shelters - Mature edible landscaping including mango, citrus, lychee, guava, avocado, banana, papaya, ulu/breadfruit, starfruit, pomegranate, white pineapple, and more - A waterfall with swimming hole along the property line. - A list of plants, animals, and a full features list is available. Located minutes from Honoli‘i Beach Park. Featured on Staycation Hawaii: Building Aloha. Video Tour: https://player.vimeo.com/video/1098413866

120 Woa Rd, HILO

Listing courtesy of NextHome Paradise Realty.

$570,000
6 Beds ⋅ 2 Baths ⋅ 731131 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 action to create a bright and comfortable primary living area. Downstairs includes 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 lot provides both privacy and functionality, with ample parking and standout outdoor features. Enjoy a peaceful pond, a custom lava rock BBQ area, built in picnic table, multiple dog kennels or storage areas and a grassy yard, perfect for family fun, pets and or gardening. 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.

$850,000
9 Beds ⋅ 4 Baths ⋅ 731095 MLS ⋅ ['Fee Simple'] Tenure
Rare Multi-Unit Income Opportunity in the Heart of Hilo Versatile three-unit property on a generous 22,500 sf RS-10 lot with potential for subdivision. The front duplex offers two spacious 3-bedroom/1-bath units, one upstairs and one downstairs, while a detached 3-bedroom/2-bath home sits privately at the rear. In total, approximately 3,200 sf of rentable living area, plus a centrally located 3-car garage. Each building has its own separate water and electric meters, making multi-tenant management simple. Two units are currently tenant-occupied and generating income. The vacant back house is ready for an owner-occupant or a new tenant, offering immediate flexibility and strong upside as units turn. Additional value-add potential: the seller obtained carport permits for the front and rear of the property (not yet built; may still be valid) and previously explored subdividing the lot with separate access off Pala Lane. RS-10 zoning may allow subdivision. Buyer to verify with the County of Hawai'i Planning Department. Whether you're looking to live in one unit while renting the others or seeking a pure investment play, this property delivers, all in a convenient, established Hilo neighborhood just minutes from town. Sold AS-IS. Buyer and buyer's agent to verify all information.

1940 Kaumana Dr, HILO

Listing courtesy of Rock Realty LLC.

$1,349,000
6 Beds ⋅ 4 Baths ⋅ 725751 MLS ⋅ ['Fee Simple'] Tenure
Welcome to 272 Lama Street, together with the additional dwelling known as 460 Awa Street—a rare corner property near Nani Mau Gardens offering nearly 3 acres of usable land with room for expansion, gardening, farming, recreation, or multi-generational living. This unique property features two existing homes with three assigned street addresses, providing flexibility for extended family living, rental income potential, guest accommodations, or home-based business use. Thoughtful improvements have been completed throughout the property following a recent pre-listing inspection, enhancing both dwellings and creating a refreshed, move-in-ready opportunity. The main residence features interior & exterior repainting, roof repainting, repaired termite damage, refreshed accent walls, updated fixtures, new GFCI outlets in kitchen & bath areas, screened openings, and numerous additional repairs that contribute to the home's clean and well-maintained appearance. The secondary dwelling has also benefited from substantial upgrades, including new vinyl flooring, interior & exterior paint, updated fixtures, a new water heater, new entry railing, patio improvements, wall repairs, and upgraded GFCI electrical safety features in the kitchen & bath areas. Conveniently located in the desirable Panaewa area, just minutes from Hilo town, shopping, schools, and parks, this property offers the privacy, flexibility, and open space that are increasingly difficult to find so close to town.

272 Lama St, HILO

Listing courtesy of Hara Chun Realty, LLC.

$1,100,000
6 Beds ⋅ 4 Baths ⋅ 729072 MLS ⋅ ['Fee Simple'] Tenure
6 Bedroom 3 Bath in Sunrise Ridge. Perfect for large family. Excellent location, close to town, schools, shopping. Hilo's premier subdivision. Solar hot water. Lots of charm. Owner has plans for carport in rear.

768 La Hou St, HILO

Listing courtesy of Sunrise Properties LLC.

$880,000
6 Beds ⋅ 3 Baths ⋅ 728835 MLS ⋅ ['Fee Simple'] Tenure
Two beautifully renovated homes are nestled on a cleared and thoughtfully improved 0.7-acre lot. This unique property features two fully updated residences, offering flexibility, privacy, and excellent income potential. With quick access to Saddle Road, commuting is easy, and the location is just minutes from Hilo town—shopping, dining, schools, and everyday conveniences—while still enjoying the cooler elevations and lush surroundings Kaumana is known for. From inside the main home, the view through the windows feels like you’re immersed in a tropical forest. The rear of the property borders a seasonal stream, bringing the soothing sound of running water during rainfall—a peaceful, nature-filled backdrop that’s hard to find. The second home is ideal for extended family, visiting guests, or rental income. Endless Possibilities • Ideal for multi-generational living — young family in the larger home with parents close by. • Live in the main home and rent the second home as a short-term vacation rental or to traveling nurses. • Excellent opportunity to generate supplemental income. Main Home ~ 2,000 Sq. Ft. • 4 Bedrooms | 2 Bathrooms. • Brand new kitchen with modern finishes. • Fully renovated bathrooms. • New flooring throughout. • New plumbing. • New windows. • New open concept. • Fresh interior and exterior paint. • New water heater. Second Home ~ 800 Sq. Ft. • 2 Bedrooms | 1 Bathroom. • Completely remodeled kitchen and bath. • New flooring. • Fresh interior and exterior paint. • New water heater. Property Highlights • Set back from the street for added privacy. • Quiet and serene setting. • Lot has been cleared with select trees removed for usability while maintaining a tropical feel. • Move-in ready — everything has been beautifully renovated. This is more than just a property — it’s a lifestyle. Privacy, nature, flexibility, and income potential all in one stunning package.

1360 Kaumana Dr, HILO

Listing courtesy of First Hawaiian Realty.

$2,400,000
27 Beds ⋅ 9 Baths ⋅ 728094 MLS ⋅ ['Fee Simple'] Tenure
Rare Investment Opportunity in the heart of Hilo! Nine 3BR/1BA homes on 1.65 acres. Desirable location just below Komohana St and above the police station. Sweeping views of Hilo Bay and Mauna Kea from some vantage points on the property. Two private, paved driveways lead you to each charming home nestled into this Hilo hillside.

572 Kukuau St, HILO

Listing courtesy of Hilo Realty, LLC.

$1,050,000
9 Beds ⋅ 5 Baths ⋅ 726134 MLS ⋅ ['Fee Simple'] Tenure
3-2-1: Three (3) homes on two (2) separate parcels sold together at one (1) attractive price for the home buyer and/or extended family or investor looking for a prime location in Hilo. The parcels being sold together are TMK 3-2-2-25-17 (10,384 land area) & 3-2-2-25-33 (11,661 sqft. land area). All utilities are available and connected to sewer.

1560 Kilauea Ave, HILO

Listing courtesy of CG Hawaii Realty Corp..

$365,000
9 Beds ⋅ 3 Baths ⋅ 723448 MLS ⋅ ['Fee Simple'] Tenure
High-Cash-Flow Investment in Downtown Hilo –Now $395,000 Hoku Street,Hilo,HI 96720 This Downtown Hilo property offers strong income and even higher potential through room-by-room rentals. Homes rented by the room typically earn significantly more monthly income, provide more stable cash flow, and generate higher long-term returns. With 9 rentable rooms, 3 bathrooms, and 2 full kitchens (upstairs and downstairs), the property is already producing solid revenue and can be improved further. Income & ROI: • Current gross income: $70,000–$80,000+ per year • At $395,000 — gross ROI of 13.1% at $70K/year or 15% at $80K/year • Opportunity to increase ROI through optimized room-by-room rentals • Additional tax benefits from depreciation and write-offs • Multi-tenant setup reduces vacancy risk and enhances income stability Why Room-by-Room Works Well Here: • Higher total income than whole-house rentals • Strong demand from students, workers, and medical professionals • Ideal for investors seeking high NOI and rent per square foot • Flexible layout suited for shared housing, workforce rentals, or multi-family use Property Details: • 9 total rooms • 3 bathrooms • 2 full kitchens • Flexible layout for shared housing or rentals • Potential to raise rental value with updates Prime Downtown Hilo Location — walking distance to major employers, hospitals, colleges, stores, restaurants, beaches, parks, and public transportation. High rental demand and rare availability in this area.

82-D Hoku St, HILO

Listing courtesy of Nathalie Mullinix Realty Universal, Inc..

$789,000
6 Beds ⋅ 5 Baths ⋅ 721532 MLS ⋅ ['Fee Simple'] Tenure
HUGE PRICE REDUCTION! Price reduced aggressively for a quick, as-is sale! Ocean-view 6-bedroom Hilo property with permitted attached ohana, multi-suite layout, and flexible income potential. Positioned above Hilo Bay, 16 Haaheo Rd offers expansive Hilo bay views from multiple rooms and lanais. The 6-bedroom, 4.5 bath configuration includes a primary suite with ocean-facing lanai and ensuite bath, plus a lower level featuring an additional suite and multiple bedrooms designed to accommodate extended living or rental arrangements. The attached ohana unit is permitted and includes a separate entrance, enhancing flexibility for multi-generational occupancy or income use. Previously operated as a licensed care home, the property’s bedroom count, multiple bathrooms, and accessibility-oriented layout provide a strong foundation for reactivation of care home use or conversion to hosted rental or bed-and-breakfast operation, subject to buyer verification of applicable requirements. Outdoor living areas include a covered lanai with kitchenette and established producing trees including avocado, rambutan, citrus, coconut, and calamansi. A structural engineer’s report addressing a compromised foundation and outlining recommended repair is available to prospective buyers who provide proof of ability to purchase. The repair scope has been evaluated. The key finding is that no major structural reconstruction is recommended. The prescribed remediation is focused on site regrading and improved water diversion, rather than significant foundation replacement/repair. Due to foundation condition, certain financing options may be limited. Property is sold as-is. Conveniently located within close proximity to downtown Hilo, the Hilo Farmers Market, medical facilities, shopping, Honoliʻi Beach Park, and more.

16 Haaheo Rd, HILO

Listing courtesy of EXIT Realty Island Living.