2240 Kuhio Ave #1210 · Urban Honolulu, HI 96815

$180,000

1 bd · 1.0 ba · 436 sqft · Condo public records · 138 Days on market

Built 1976 $926/mo HOA · 40% of rent

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Appreciation +6.4/10.0
• Rent growth +4.0/5.0
• Schools +3.7/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0

Listing remarks MLS

Welcome to Royal Kuhio, a well-known and centrally located condominium in the heart of Waikiki, Honolulu. Just steps away from Waikiki Beach, world-class shopping, dining, and entertainment, this residence offers the perfect balance of island lifestyle and urban convenience. This unit features a bright and open layout, designed to maximize comfort and natural light. Enjoy cool trade winds, city or mountain views (depending on unit), and the vibrant energy of Waikiki right outside your door. Royal Kuhio is a secure, well-managed building with excellent amenities, including a swimming pool, Sun deck, Fitness center, Recreation room, 24-hour security. Whether you are looking for a vacation home, long-term residence, or investment property, Royal Kuhio is a highly desirable option with strong rental appeal and exceptional location value.

Key facts

• World-class shopping
• Entertainment
• City views

Tags

• WORLD-CLASS SHOPPING
• DINING
• ENTERTAINMENT
• URBAN CONVENIENCE
• CITY VIEWS
• MOUNTAIN VIEWS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-355 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $117k (34.8% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $117k (34.8% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 1.5% in Urban Honolulu — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Hawaii Department Of Education (suburban): math 32% / reading 50% proficiency, ranked #1 of 1 in HI (top 100%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.0%/yr); 814 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• This rent runs 36% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.7% local appreciation)).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $105k; list at $180k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $122/mo; HOA is 40% of rent.
• Climate carrying-cost: in FEMA flood zone AO (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,360 (34.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
11. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 4.74%
• Cash-on-cash: -5.53%
• DSCR: 0.75
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.74% appreciation · 6.0% rent growth · sell at horizon

5-year hold

• IRR: 1.5%
• Equity multiple: 1.09×
• Total profit: $4,384
• Equity at exit: $78,342

10-year hold

• IRR: 7.8%
• Equity multiple: 2.25×
• Total profit: $63,103
• Equity at exit: $118,756

Cash invested: $50,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 37 Tenant-Leaning
• State Hawaii: 37 Tenant-Leaning · D+13
• County: — inherits STATE
• City: — inherits STATE

Honolulu has source-of-income protections; warranty of habitability strong.

Methodology + full state rankings →

ZIP-level market 96815

• Home prices YoY: 0.9%
• Rents YoY: 6.0%
• Active inventory: 814
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,291 high
• Mortgage (P&I): −$944
• Tax from tax record: −$97 /mo · $1,165/yr
• Insurance: −$75
• Flood insurance flood zone: −$122 /mo · $1,468/yr
• HOA: −$926
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $-355

Break-even live

Break-even rent $2,740

Max offer price $117,360

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 Kaiulani Ave Honolulu, HI	3.0	1.0	656	$3,088	$4.71	23d	8	0.30mi
242 Kaiulani Ave Honolulu, HI	—	1.0	253	$1,250	$4.94	23d	1	0.30mi
242 Kaʻiulani Ave Unit 4 Honolulu, HI	—	1.0	253	$1,200	$4.74	23d	1	0.30mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$4,055	$11.42	11d	1	0.32mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	2d	1	0.32mi
2442 Tusitala St Apt 103 Honolulu, HI	—	1.0	300	$1,900	$6.33	43d	1	0.40mi
249 Kapili St Unit 1 Honolulu, HI	—	1.0	290	$1,350	$4.66	21d	1	0.43mi
249 Kapili St #101 Honolulu, HI	—	1.0	225	$1,500	$6.67	23d	1	0.43mi
2509 Ala Wai Blvd Honolulu, HI	—	1.0	215	$1,725	$8.02	23d	2	0.51mi
2509 Ala Wai Blvd #503 Honolulu, HI	—	1.0	215	$1,750	$8.14	3d	1	0.51mi
234 Ohua Ave #217 Honolulu, HI	—	1.0	257	$1,550	$6.03	23d	1	0.53mi
300 Wai Nani Way Unit 1808 Honolulu, HI	—	1.0	321	$1,700	$5.30	43d	1	0.62mi
2572 Lemon Rd Honolulu, HI	1.0	1.0	398	$2,597	$6.53	3d	3	0.69mi
902 University Ave Unit C Honolulu, HI	2.0	1.0	415	$2,318	$5.58	23d	1	0.75mi
234 Hua AVE Unit 103 Honolulu, HI	—	1.0	257	$1,550	$6.03	3d	1	0.94mi

HOA detail condo

• Monthly dues: $926 · $11,112/yr
• Likely covers: poolgymsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-15
   days on market $180,000 Active 138 DOM
2. 2026-06-13
   days on market $180,000 Active 136 DOM
3. 2026-06-13
   days on market $180,000 Active 135 DOM
4. 2026-06-10
   days on market $180,000 Active 133 DOM
5. 2026-06-09
   days on market $180,000 Active 132 DOM
6. 2026-06-08
   days on market $180,000 Active 131 DOM
7. 2026-06-07
   days on market $180,000 Active 130 DOM
8. 2026-06-05
   days on market $180,000 Active 127 DOM
9. 2026-06-03
   days on market $180,000 Active 126 DOM
10. 2026-06-02
    days on market $180,000 Active 125 DOM
11. 2026-06-01
    days on market $180,000 Active 124 DOM
12. 2026-05-31
    days on market $180,000 Active 123 DOM
13. 2026-01-28
    listed $180,000 Active 845-char remark

    Show marketing remark (845 chars)

    Welcome to Royal Kuhio, a well-known and centrally located condominium in the heart of Waikiki, Honolulu. Just steps away from Waikiki Beach, world-class shopping, dining, and entertainment, this residence offers the perfect balance of island lifestyle and urban convenience. This unit features a bright and open layout, designed to maximize comfort and natural light. Enjoy cool trade winds, city or mountain views (depending on unit), and the vibrant energy of Waikiki right outside your door. Royal Kuhio is a secure, well-managed building with excellent amenities, including a swimming pool, Sun deck, Fitness center, Recreation room, 24-hour security. Whether you are looking for a vacation home, long-term residence, or investment property, Royal Kuhio is a highly desirable option with strong rental appeal and exceptional location value.

14. 2025-09-04
    soldstatus $105,000 Closed 591-char remark

    Show marketing remark (591 chars)

    Welcome to this delightful unit at Royal Kuhio, complete with a dedicated garage space and ready for your personal touch. This cozy home offers a warm, inviting feel and is ideally located near Waikiki Beach, Ala Moana Center, and countless dining and shopping options. Whether you're looking for a full-time residence or a smart investment opportunity, this unit has so much to offer. Residents enjoy access to great amenities, including a newly renovated pool, sauna, BBQ area, fitness center, and more. Discover the perfect blend of comfort, convenience, and island living at Royal Kuhio!

15. 2025-07-29
    historical Active Under Contract 591-char remark

    Show marketing remark (591 chars)

    Welcome to this delightful unit at Royal Kuhio, complete with a dedicated garage space and ready for your personal touch. This cozy home offers a warm, inviting feel and is ideally located near Waikiki Beach, Ala Moana Center, and countless dining and shopping options. Whether you're looking for a full-time residence or a smart investment opportunity, this unit has so much to offer. Residents enjoy access to great amenities, including a newly renovated pool, sauna, BBQ area, fitness center, and more. Discover the perfect blend of comfort, convenience, and island living at Royal Kuhio!

16. 2025-04-29
    price $119,000 591-char remark

    Show marketing remark (591 chars)

    Welcome to this delightful unit at Royal Kuhio, complete with a dedicated garage space and ready for your personal touch. This cozy home offers a warm, inviting feel and is ideally located near Waikiki Beach, Ala Moana Center, and countless dining and shopping options. Whether you're looking for a full-time residence or a smart investment opportunity, this unit has so much to offer. Residents enjoy access to great amenities, including a newly renovated pool, sauna, BBQ area, fitness center, and more. Discover the perfect blend of comfort, convenience, and island living at Royal Kuhio!

17. 2025-01-15
    listed $144,000 Active 591-char remark

    Show marketing remark (591 chars)

    Welcome to this delightful unit at Royal Kuhio, complete with a dedicated garage space and ready for your personal touch. This cozy home offers a warm, inviting feel and is ideally located near Waikiki Beach, Ala Moana Center, and countless dining and shopping options. Whether you're looking for a full-time residence or a smart investment opportunity, this unit has so much to offer. Residents enjoy access to great amenities, including a newly renovated pool, sauna, BBQ area, fitness center, and more. Discover the perfect blend of comfort, convenience, and island living at Royal Kuhio!

18. 2025-01-03
    historical
19. 2024-02-06
    price $159,000
20. 2024-01-03
    listed $168,500 Active
21. 2021-04-30
    listed $178,000 Active
22. 2020-04-21
    historical Hold
23. 2019-07-08
    listed $178,000 Active
24. 2017-08-07
    soldstatus $169,500 Sold
25. 2017-08-07
    soldstatus $169,500
26. 2017-07-31
    status Pending
27. 2017-06-26
    listed $168,000 Active
28. 2002-05-17
    soldstatus $40,000
29. 1988-03-16
    soldstatus $150,000
30. 1986-10-01
    soldstatus $65,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast HI · Partial reset (capped growth)

• Current annual tax: $1,165 · $97/mo
• Projected year-2 tax: $1,165 · $97/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AO · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $27,489
• − Mortgage interest: −$10,083
• − Property taxes: −$1,165
• − Insurance: −$2,368
• − Repairs & maintenance: −$2,199
• − Management: −$2,199
• − HOA: −$11,112
• − Depreciation: −$5,236
• Taxable loss: −$6,873
• Est. tax savings @ 24.0%: +$1,649
• After-tax cash flow: $-2,606/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hawaii Department Of Education
• NCES district ID: 1500030
• Math proficiency: 32% ▼ -10.00%
• Reading proficiency: 50% ▼ -3.00%
• Median HH income: $69,005
• Composite: 37.07/100
• National rank: #4504
• State rank: #1 of 1 in HI

Livability — Urban Honolulu

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Urban Honolulu, HI
• County: Honolulu County · 963,448 people
• City population: 309,956
• Metro: Urban Honolulu, HI
• Population (ZIP): 27,530
• Household income: $77,096
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 2422.0

Population outlook (Honolulu County) Hauer SSP2

• Today (2025): 1,072,641 people
• By 2030: 1,110,460 · +3.5%
• By 2040: 1,181,593 · +10.2%
• By 2050: 1,257,584 · +17.2%
• By 2075: 1,501,120 · +39.9%
• By 2100: 1,764,430 · +64.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Asian 41% White 35% Two or more races 16% Hispanic / Latino 6% Pacific Islander 4% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 30% · China, South Korea, Canada
• Languages at home: 66% English-only · Other Asian/Pacific 15% Chinese 5% Korean 3%

Political lean MEDSL · Honolulu

• 2024 margin: Strong D (+21.6) · D 59.9% · R 38.3% · Other 1.8%
• 2008→2024 swing: -19.4pp toward R · 2008: 41.1pp · 2024: 21.6pp
• All cycles: 2024: D+21.6 2020: D+26.9 2016: D+29.9 2012: D+39.1 2008: D+41.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.74%
• Current HPI: 291.9404
• Rent YoY: ▲ 6.00%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

+176.9% since first listed

18 events — show timeline

• 2026-01-28 Listed $180,000 HiCentral MLS
• 2025-09-04 Sold (MLS) $105,000 HiCentral MLS
• 2025-07-29 Contingent — HiCentral MLS
• 2025-04-29 Price Changed $119,000 HiCentral MLS
• 2025-01-15 Listed $144,000 HiCentral MLS
• 2025-01-03 Listing Removed — HiCentral MLS
• 2024-02-06 Price Changed $159,000 HiCentral MLS
• 2024-01-03 Listed $168,500 HiCentral MLS
• 2021-04-30 Listed $178,000 HiCentral MLS
• 2020-04-21 Delisted — HiCentral MLS
• 2019-07-08 Listed $178,000 HiCentral MLS
• 2017-08-07 Sold (Public Records) $169,500 Public Records
• 2017-08-07 Sold (MLS) $169,500 HiCentral MLS
• 2017-07-31 Pending — HiCentral MLS
• 2017-06-26 Listed $168,000 HiCentral MLS
• 2002-05-17 Sold (Public Records) $40,000 Public Records
• 1988-03-16 Sold (Public Records) $150,000 Public Records
• 1986-10-01 Sold (Public Records) $65,000 Public Records

Property tax history

+2.5%/yr

Latest (2022): $1,165 · -4.3% YoY. Source: county tax records.