4121 Rice St #2704 · Lihue, HI 96766

$549,000

2 bd · 2.0 ba · 1,010 sqft · Condo public records · 37 Days on market

Built 1981 $544/sqft · 16% above area Est $474k · 16% over $1199/mo HOA · 18% 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).

• Cash flow +14.7/30.0
• Appreciation +10.0/10.0
• 1% rule +6.8/10.0
• DSCR +4.5/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.4/15.0

Listing remarks MLS

Experience the perfect blend of comfort, convenience, and lifestyle at Kalapaki Villas! This second floor condo is ideally located behind a magnificent banyan tree, just off Rice Street. With two large bedrooms, including a primary bedroom with it's own private entrance, this home provides both privacy and ample space. The kitchen, featuring a new stove and dishwasher, opens to the living room, allowing for seamless entertaining and connection. The location makes it easy to walk to shopping and dining and would be a great investment or personal retreat. Enjoy the best of island living with two covered lanais, perfect for relaxing or entertaining outdoors. The community amenities include a clubhouse, pool, outdoor BBQ area, and a park, adding to the many conveniences of this prime location. With pets welcome, this condo truly offers the best of comfort, style and accessibility. This condo is priced to sell so why would you rent when you can own instead?

Key facts

• Functional kitchen
• Private bath
• Private lanai

Tags

• OPEN-CONCEPT LIVING SPACE
• FUNCTIONAL KITCHEN
• PRIVATE LANAI
• PRIVATE BATH
• MINUTES FROM SHOPPING
• MINUTES FROM DINING

Property features AI

Finance

• Financial info: Home exemption amount $220,000; Annual tax amount $239.58 (Tax Year 2025); Not used as a short-term vacation rental
• HOA & community: Association fee of $1,199.36; Paved roads

Exterior

• Parking: Assigned and unassigned parking
• Utilities: Electricity available; Public water; Sewer connected; Underground utilities; Solid waste disposal included with maintenance fees
• Exterior features: Fee simple land tenure; R-20 zoning; Property is attached (CPR ownership)

Interior

• Kitchen: Dishwasher; Disposal; Microwave hood; Range; Refrigerator
• Flooring: Carpet
• Bathrooms: 2 bathrooms (2 full)
• Interior features: Carpet flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $549k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $549k).
• Recommended offer: $533k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#53 in HI) — a middle-class / working-renter tenant base. Strengths: employment A+, commute A, crime A-; Watch: health & safety C-, schools D+, amenities F.
• 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: 37 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 141 units permitted in Kauai County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Kauai County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $154k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$94k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($533k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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.

Recommended offer $532,530 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.18% ✓
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• GRM: 7.0

CMA / ARV

• ARV (median comp): $474,273
• List price: $549,000
• Delta: 15.76%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.1%
• Equity multiple: 3.01×
• Total profit: $308,878
• Equity at exit: $494,583

10-year hold

• IRR: 22.2%
• Equity multiple: 6.88×
• Total profit: $904,143
• Equity at exit: $1,066,586

Cash invested: $153,720 (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 96766

• Home prices YoY: 2.0%
• Active inventory: 37
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $6,500 medium
• Mortgage (P&I): −$2,879
• Tax est. 1.5%: −$686 /mo · $8,235/yr
• Insurance: −$229
• HOA: −$1,199
• Vacancy / Maint / Mgmt: −$1,365
• Net cashflow: $142

Break-even live

Break-even rent $6,320

Max offer price $549,000

Occupancy floor 93%

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: $137,250
• Closing costs: $16,470
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4161 Palaumahu St Lihue, HI	3.0	2.5	1486	$6,500	$4.37	43d	1	0.70mi

HOA detail condo

• Monthly dues: $1,199 · $14,388/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $549,000 Active 37 DOM
2. 2026-06-17
   days on market $549,000 Active 36 DOM
3. 2026-06-16
   days on market $549,000 Active 35 DOM
4. 2026-06-15
   days on market $549,000 Active 34 DOM
5. 2026-06-13
   days on market $549,000 Active 32 DOM
6. 2026-06-13
   days on market $549,000 Active 31 DOM
7. 2026-06-10
   days on market $549,000 Active 29 DOM
8. 2026-06-09
   days on market $549,000 Active 28 DOM
9. 2026-06-08
   days on market $549,000 Active 27 DOM
10. 2026-06-07
    days on market $549,000 Active 26 DOM
11. 2026-06-05
    days on market $549,000 Active 23 DOM
12. 2026-06-03
    days on market $549,000 Active 22 DOM
13. 2026-06-02
    days on market $549,000 Active 21 DOM
14. 2026-06-01
    days on market $549,000 Active 20 DOM
15. 2026-05-31
    days on market $549,000 Active 19 DOM
16. 2026-05-12
    listed $549,000 Active 517-char remark
17. 2024-12-13
    soldstatus $530,000 Sold 966-char remark

    Show marketing remark (966 chars)

    Experience the perfect blend of comfort, convenience, and lifestyle at Kalapaki Villas! This second floor condo is ideally located behind a magnificent banyan tree, just off Rice Street. With two large bedrooms, including a primary bedroom with it's own private entrance, this home provides both privacy and ample space. The kitchen, featuring a new stove and dishwasher, opens to the living room, allowing for seamless entertaining and connection. The location makes it easy to walk to shopping and dining and would be a great investment or personal retreat. Enjoy the best of island living with two covered lanais, perfect for relaxing or entertaining outdoors. The community amenities include a clubhouse, pool, outdoor BBQ area, and a park, adding to the many conveniences of this prime location. With pets welcome, this condo truly offers the best of comfort, style and accessibility. This condo is priced to sell so why would you rent when you can own instead?

18. 2024-11-05
    historical Contingent 966-char remark

    Show marketing remark (966 chars)

    Experience the perfect blend of comfort, convenience, and lifestyle at Kalapaki Villas! This second floor condo is ideally located behind a magnificent banyan tree, just off Rice Street. With two large bedrooms, including a primary bedroom with it's own private entrance, this home provides both privacy and ample space. The kitchen, featuring a new stove and dishwasher, opens to the living room, allowing for seamless entertaining and connection. The location makes it easy to walk to shopping and dining and would be a great investment or personal retreat. Enjoy the best of island living with two covered lanais, perfect for relaxing or entertaining outdoors. The community amenities include a clubhouse, pool, outdoor BBQ area, and a park, adding to the many conveniences of this prime location. With pets welcome, this condo truly offers the best of comfort, style and accessibility. This condo is priced to sell so why would you rent when you can own instead?

19. 2024-11-01
    listed $530,000 Active 966-char remark

    Show marketing remark (966 chars)

    Experience the perfect blend of comfort, convenience, and lifestyle at Kalapaki Villas! This second floor condo is ideally located behind a magnificent banyan tree, just off Rice Street. With two large bedrooms, including a primary bedroom with it's own private entrance, this home provides both privacy and ample space. The kitchen, featuring a new stove and dishwasher, opens to the living room, allowing for seamless entertaining and connection. The location makes it easy to walk to shopping and dining and would be a great investment or personal retreat. Enjoy the best of island living with two covered lanais, perfect for relaxing or entertaining outdoors. The community amenities include a clubhouse, pool, outdoor BBQ area, and a park, adding to the many conveniences of this prime location. With pets welcome, this condo truly offers the best of comfort, style and accessibility. This condo is priced to sell so why would you rent when you can own instead?

20. 2016-07-27
    soldstatus $265,000 Sold

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

21. 2016-07-20
    historical Contingent

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

22. 2016-04-04
    price $289,900

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

23. 2016-03-23
    price $299,600

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

24. 2016-03-16
    price $299,700

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

25. 2016-03-14
    price $299,800

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

26. 2016-01-20
    price $299,900

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

27. 2016-01-20
    price $307,200

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

28. 2016-01-15
    price $307,300

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

29. 2016-01-14
    price $307,400

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

30. 2016-01-13
    price $307,500

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

31. 2016-01-12
    price $307,600

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

32. 2016-01-11
    price $307,700

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

33. 2016-01-08
    price $307,800

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

34. 2016-01-06
    price $307,900

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

35. 2015-12-09
    listed $308,000 Active

    Show marketing remark (1116 chars)

    Yes, this unit is exceptional. If you are looking for your home close to town or your home away from home, you must see this completely remodeled unit. It looks like a page from a Home Magazine and it is ready and waiting for its new owners. All new appliances and decorator color selection throughout, new flooring, new bathroom fixtures and much more. Absolutely nothing left for you to do! Now this unit has two brand new A/C units that will provide comfort on those warm days or nights. One in the Living Room and one in the bedroom. This two bedroom, 2 bath corner unit is on the second floor in a quiet location within this complex and has two separate lanais for your outdoor enjoyment. Kalapaki Villas offers its owners a beautiful pool and club house for residents. You are only a mile from beautiful beaches and walking distance to shopping along Rice street. This complex is not in the VDA so you can enjoy the privacy that comes without vacation rental interruptions and activity. To many this is a big PLUS!Furnishing are available through separate agreement. You will want them once you see this unit.

36. 2015-12-04
    historical
37. 2015-10-02
    listed $325,000 Active
38. 2015-01-02
    soldstatus $260,700
39. 2015-01-02
    soldstatus $260,700
40. 2014-10-21
    listed $267,000
41. 2013-10-28
    soldstatus $222,000
42. 2013-10-25
    soldstatus $222,000
43. 2013-08-07
    listed $228,000
44. 2002-12-12
    soldstatus $137,000
45. 2002-12-12
    soldstatus $137,000
46. 2002-06-27
    listed $139,000
47. 1999-11-05
    soldstatus $80,000
48. 1997-08-18
    soldstatus $70,000
49. 1986-05-29
    soldstatus $3,474,000
50. 1986-05-01
    soldstatus $3,474,000

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $78,000
• − Mortgage interest: −$30,753
• − Property taxes: −$8,235
• − Insurance: −$2,745
• − Repairs & maintenance: −$6,240
• − Management: −$6,240
• − HOA: −$14,388
• − Depreciation: −$15,971
• Taxable loss: −$6,571
• Est. tax savings @ 24.0%: +$1,577
• After-tax cash flow: $3,281/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 — Lihue

• Score: 65/100
• State rank: #53
• US rank: #12846

Category grades

Amenities F Commute A Cost of living F Crime A- Employment A+ Housing C Health & safety C- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lihue, HI
• Population (ZIP): 16,924

Population outlook (Kauai County) Hauer SSP2

• Today (2025): 80,681 people
• By 2030: 85,158 · +5.5%
• By 2040: 93,679 · +16.1%
• By 2050: 102,608 · +27.2%
• By 2075: 129,159 · +60.1%
• By 2100: 157,205 · +94.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Asian 45% Two or more races 28% White 14% Hispanic / Latino 12% Pacific Islander 9% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 4%
• Common ancestry: Russian 5% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 21% · Canada, Vietnam, China
• Languages at home: 78% English-only · Other Asian/Pacific 13% Tagalog/Filipino 6% Chinese 1%

Political lean MEDSL · Kauai

• 2024 margin: D (+19.5) · D 58.8% · R 39.3% · Other 1.9%
• 2008→2024 swing: -32.5pp toward R · 2008: 52.0pp · 2024: 19.5pp
• All cycles: 2024: D+19.5 2020: D+28.8 2016: D+33.7 2012: D+49.3 2008: D+52.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 15.33%
• Current HPI: 769.4957
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-84.2% since first listed

35 events — show timeline

• 2026-05-12 Listed $549,000 HI Information Service
• 2024-12-13 Sold (MLS) $530,000 HI Information Service
• 2024-11-05 Contingent — HI Information Service
• 2024-11-01 Listed $530,000 HI Information Service
• 2016-07-27 Sold (MLS) $265,000 HI Information Service
• 2016-07-20 Contingent — HI Information Service
• 2016-04-04 Price Changed $289,900 HI Information Service
• 2016-03-23 Price Changed $299,600 HI Information Service
• 2016-03-16 Price Changed $299,700 HI Information Service
• 2016-03-14 Price Changed $299,800 HI Information Service
• 2016-01-20 Price Changed $299,900 HI Information Service
• 2016-01-20 Price Changed $307,200 HI Information Service
• 2016-01-15 Price Changed $307,300 HI Information Service
• 2016-01-14 Price Changed $307,400 HI Information Service
• 2016-01-13 Price Changed $307,500 HI Information Service
• 2016-01-12 Price Changed $307,600 HI Information Service
• 2016-01-11 Price Changed $307,700 HI Information Service
• 2016-01-08 Price Changed $307,800 HI Information Service
• 2016-01-06 Price Changed $307,900 HI Information Service
• 2015-12-09 Listed $308,000 HI Information Service
• 2015-12-04 Listing Removed — HI Information Service
• 2015-10-02 Listed $325,000 HI Information Service
• 2015-01-02 Sold (MLS) $260,700 HI Information Service
• 2015-01-02 Sold (Public Records) $260,700 Public Records
• 2014-10-21 Listed $267,000 HI Information Service
• 2013-10-28 Sold (MLS) $222,000 HI Information Service
• 2013-10-25 Sold (Public Records) $222,000 Public Records
• 2013-08-07 Listed $228,000 HI Information Service
• 2002-12-12 Sold (MLS) $137,000 HI Information Service
• 2002-12-12 Sold (Public Records) $137,000 Public Records
• 2002-06-27 Listed $139,000 HI Information Service
• 1999-11-05 Sold (Public Records) $80,000 Public Records
• 1997-08-18 Sold (Public Records) $70,000 Public Records
• 1986-05-29 Sold (Public Records) $3,474,000 Public Records
• 1986-05-01 Sold (Public Records) $3,474,000 Public Records

Property tax history

+5.2%/yr

Latest (2025): $240 · +10.9% YoY. Source: county tax records.