| MLS: 202612167 (Active - For Sale) Asking Price: $1,490,000 FS - Fee Simple Type: Residential District: Metro Address: 1104 Palama Street, Honolulu, HI Neighborhood: Kapalama Beds: 5 Baths: 2 Living Area: 3,296 SF Style: Multiple Dwellings,Ohana Dwelling Land Area: 3,849 SF View: City Parking: 3 Car+ Days on Market: 43 (The Price of the property was lowered by $10,000 on 07/31/2026) Year Built: 1905 Zoning: 05 - R-5 Residential District Land Recorded: Land Court Property Taxes: $1,127 Assessed Value: $1,091,600 Assessed Ratio: 136.5% Listing Courtesy: Fogarty Realty, Inc. | Google Map County Records Add to Watch List Print Version Request Info All Homes For Sale in Kapalama |
Mixed-use investment opportunity in Kalihi featuring two buildings and nine residential rooms. The ground floor commercial unit has a CUP in place with roll-up door access and direct street frontage — suitable for retail, grocery, or light industrial use. Building B is currently occupied generating $4,000/month. Building A is actively under renovation. Priced at $1,500,000 with a stabilized cap rate of 7.8–9.0%. The surrounding Kalihi corridor has strong long-term redevelopment fundamentals. Conditional Use Permit (CUP) — Protected Commercial Use The commercial unit carries a CUP, securing its legal commercial operating status within the R-5 residential zone. This rare entitlement protects lender and tenant confidence and is a meaningful differentiator at this price point.
5 Comparable Homes Sold in Kapalama (Last 12 months)
| Description | List Date | Sold Date | List Price | Sold Price |
|---|---|---|---|---|
| 5 Bed 2 Bath (w/ Ohana) | 06/24/2025 | 09/11/2025 | $900,000 | $875,000 |
| 5 Bed 2 Bath (w/ Ohana) | 07/01/2025 | 10/14/2025 | $1,195,000 | $1,520,000 |
| 5 Bed 2 Bath (w/ Ohana) | 07/28/2025 | 01/05/2026 | $1,279,000 | $1,255,000 |
| 5 Bed 2 Bath (w/ Ohana) | 01/25/2026 | 03/30/2026 | $1,297,000 | $1,220,000 |
| 5 Bed 2 Bath (w/ Ohana) | 11/03/2025 | 01/23/2026 | $1,795,000 | $1,765,000 |
| Average Price: | $1,327,000 | |||
Information is deemed reliable but not guaranteed.
Copyright: 2015 by the HiCentral MLS, Ltd.
IDX information is provided exclusively for consumer's personal, non-commercial
use and may not be used for any purpose other than to identify prospective
properties consumers may be interested in purchasing.
The active listings on this site are listed by other REALTORS®. If you are
interested in those listings, we may represent you as the buyer's agent.
Maui Luxury Real Estate, LLC is a real estate brokerage firm licensed to
conduct business in the State of Hawaii.
Toll Free: 1-800-291-5535 ~ Local: (808) 879-3667
Hawaii Real Estate - Maui Real Estate - Oahu Real Estate - Kauai Real Estate - Big Island Real Estate - Site Map
© Copyright 1997-2015 Maui Luxury Real Estate LLC., All Rights Reserved.
161 Wailea Ike Place, A-106 • Wailea, HI 96753
Email us