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0 Baths
17,868 sqft

$5,688,000

230 Kapiolani Street, Hilo HI, 96720

Price per sqft$318.33
Built in1973
Property size17,868 sqft
Property typeMulti-family

Overview

Active

Listed Jul 15, 2026

Updated 2 weeks ago

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!

$37,842/mo

Est. mortgage payment based on a $5,688,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Other Property Details

Taxes
$8,748
Tax Frequency
Annually
View
Yes
MLS provider logo

 

Courtesy of Standard Management LLC, Ashley Clagstone

Listing Contact: (808) 208-8100 

Based on information from the Multiple Listing Service of HI - Honolulu Board of REALTORS® / HiCentral (HBR) listings last updated on 9/20/2026 5:03 AM UTC. Information is deemed reliable but not guaranteed. Copyright: 2026 by the Honolulu Board of REALTORS®/ HICentral. Some of the active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require the use of other disclaimers as necessary to protect participants and/or the MLS from liability.

©2026 Honolulu Board of REALTORS®/ HICentral. All rights reserved. 

Data last updated 5:03 AM UTC, 9/20/2026

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