230 KAPIOLANI ST #24 Hilo HI 96720

PONAHAWAI

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24 bd
24 | ba
Sq ft: 17,868
1973

A$5688000230 KAPIOLANI ST #24 Hilo HI 96720

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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!

LOCATION INFORMATION

Project: City View
District: South Hilo
Latitude: 19.71824639
Frontage: Road/Street Subdivision: PONAHAWAI
INTERIOR FEATURES
Appliances: Oven, Range Hood
EXTERIOR FEATURES
Zoning: RM-1 Lot Size in Sq. Ft: 24573
Road Description: Paved
Lot Description: DO NOT DISTURB TENANTS - SHOWINGS BY APPOINTMENT ONLY.
Topography: Gentle Slope
Security: City, Coastline
FEATURES
Additional Information

Tax Key: 323019013
Property Type:
Year Built: 1973
Taxes: 8785.18
Land Tenure: Fee Simple
$ 3,151 per month
30 Year Fixed. 3.525% Interest Rate.
Principal + Interest: $
Monthly Tax: $
Monthly Insurance: $ 157

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Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.

Listed by: Coldwell Banker Realty

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 July 24, 2026 8:54 PM HAST

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