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Not too far, not too close—JUST RIGHT! Located in the highly desirable Panaewa Houselots, this centrally placed and spacious property presents a rare opportunity for investors or extended-family living. Properties of this type seldom become available in this area. Conveniently situated near Prince Kuhio Plaza and Puainako Town Center, the location offers an ideal balance of privacy and accessibility. Owned by a longtime kamaʻāina family, this is the first time the property has ever been offered for sale—truly a unique opportunity. Situated at 360 Lama Street, the large rectangular lot features two fully permitted, detached homes, each with easy road access and its own carport parking. The rear portion of the land provides generous outdoor space, ideal for gardening, recreation, or future possibilities. Currently operated as long-term rentals and professionally managed by a Hilo property management company, the house lot offers immediate income potential. Property Details: 1. 360-A: 3 Bedrooms | 2 Bath | Extended Living Room | Carport | Approx. 968 sqft. (Tenant occupied, month-to-month; easy to show) 2. 360-B: 3 Bedrooms | 2 Bath| Extended Living Room | Carport | Approx. 924 sqft. (Vacant) Perfect for investors, multi-generational living, or owner-occupants seeking flexibility, this versatile property offers endless potential and is a must-see. Information deemed reliable but not guaranteed. Buyers and buyers’ agents to independently verify all material facts. Bathroom count does not match county records.
| LOCATION INFORMATION | |
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District: South Hilo |
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| Latitude: 19.66779254 | |
| Frontage: Road/Street | Subdivision: PANAEWA HOUSELOTS |
| INTERIOR FEATURES | |
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Floors: Carpet |
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| EXTERIOR FEATURES | |
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Septic or Sewer: Cesspool |
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| Zoning: A-3A | Lot Size in Sq. Ft: 118919 |
| Road Description: County | |
| Fencing: None | |
| Lot Description: A MUST SEE: TWO Separate Houses on almost 3 acre lot in desirable Hilo! | Lot Number: 32 |
| Topography: Fairly Level | |
| FEATURES | |
|---|---|
| Additional Information | |
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Tax Key: 322051011 |
Property Type: |
| Year Built: 1963 | |
| Taxes: 2815.29 | |
| Land Tenure: Fee Simple |
30 Year Fixed. 3.525% Interest Rate.
| Principal + Interest: | $ |
| Monthly Tax: | $ |
| Monthly Insurance: | $ 157 |
Listed by: Berkshire Hathaway HomeServices Hawaii Island Properties
Seller’s Representative:
Kohanaiki Realty LLC © 2023 Hawaii Information Service. All rights reserved. © 2023 MLS Hawaii, Inc. All rights reserved.
Provided Courtesy of Hawaii Information Service. In this page not only will you see properties represented by Kohala Coast Properties, but also properties represented by other members of Hawaii Information Service. This information has been supplied by third parties and has not been independently verified by Hawaii Information Service and is, therefore, not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is updated approximately every two hours. The last update time is shown below.
HIS data last updated at January 30, 2026 9:10 AM HAST
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