930 Kaheka St #2601 · Urban Honolulu, HI 96814

$550,000

2 bd · 2.0 ba · 882 sqft · Condo public records · 54 Days on market

Built 1982 $624/sqft · 27% below area Est $758k · 27% under $1277/mo HOA · 29% of rent

---

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).

• ARV discount +15.0/15.0
• Appreciation +6.0/10.0
• Cash flow +5.8/30.0
• Schools +3.7/10.0
• Rent growth +3.3/5.0
• 1% rule +2.9/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.2/10.0

Listing remarks MLS

NEW PRICE!!! ~ RARELY AVAILABLE in HALE KAHEKA ~ Desirable, well-maintained CORNER-END "01" STACK on HIGH FLOOR with COVERED PARKING in PET FRIENDLY building with expansive floor-to-ceiling skyline VIEWS of Diamond Head & ocean by day & beautiful city lights at night! Spacious 2-bedroom, 2-bath unit with a/c, ceiling fans, and washer/dryer in unit. Conveniently located in town near Ala Moana & Don Quijote. Amenities include 24-hr security, tranquil garden, pool, recreation area, and BBQ! Don't miss this one! Call Today!

Key facts

• $1,277 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Association management; Association covers common areas, cable TV, internet, sewer and water; Monthly maintenance expense: $1,277.43

Exterior

• Parking: Assigned covered parking (one space)
• Security: Closed-circuit cameras; Key card entry; On-site security guard; Fire sprinkler system
• Utilities: Water included in association; Sewer included in association; Cable and internet included in association
• Home design: Condominium in the Hale Kaheka building; Entry level 26
• Construction: Concrete construction
• Exterior features: Fee simple land tenure; Lot zoned A-3 high density apartment; Community pool; Clubhouse; Barbecue area; Recreation area; Trash chute

Interior

• Kitchen: Kitchen located next to entrance
• Bedrooms: Total of 2 rooms (includes living room and kitchen)
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms
• Interior features: Good condition; Has a view

🏷️ Possibly a rental listed for sale. The $550,000 price doesn't fit this home's estimated sale value (~$757,549) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $550k.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $356k (35.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $436k (20.8% below list).
• Recommended offer: $356k (35.3% below list) — sets the bar for cash-flow.
• Cap rate 3.9% 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.
• Zoned schools: Queen Kaahumanu Elementary School (math 27% / reading 43%, grade F, #107 of 183 statewide, top 58%, 430 students, 63% FRL); President George Washington Middle School (math 30% / reading 46%, grade F, #17 of 42 statewide, top 39%, 569 students, 61% FRL); President William Mckinley High School (math 28% / reading 69%, grade D, #13 of 43 statewide, top 33%, 1,502 students, 50% FRL) — zoned schools average 58% FRL vs 39% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 561 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• At $4,359/mo this rent would consume 67% of the median local household income ($78k/yr) (locally 1641% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $15k of equity ($4k loan paydown + $11k appreciation (2.0% local appreciation)).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y 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 $465k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $355,585 (35.3% 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 54 days. Have you received any prior offers? Is the seller open to a 35% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.79% ✗
• Cap rate: 3.89%
• Cash-on-cash: -8.58%
• DSCR: 0.62
• GRM: 10.5

CMA / ARV

• ARV (median comp): $757,549
• List price: $550,000
• Delta: -27.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

1.98% appreciation · 3.1% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.79×
• Total profit: $-32,083
• Equity at exit: $216,233

10-year hold

• IRR: 1.1%
• Equity multiple: 1.15×
• Total profit: $23,354
• Equity at exit: $310,842

Cash invested: $154,000 (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 96814

• Home prices YoY: 0.5%
• Rents YoY: 3.1%
• Active inventory: 561
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $4,359 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$153 /mo · $1,840/yr
• Insurance: −$229
• HOA: −$1,277
• Vacancy / Maint / Mgmt: −$915
• Net cashflow: $-1,101

Break-even live

Break-even rent $5,752

Max offer price $355,585

Occupancy floor —

Sensitivity live

Price	-10% $-789	-5% $-945	+0% $-1,101	+5% $-1,256	+10% $-1,412
Rent	-10% $-1,445	-5% $-1,273	+0% $-1,101	+5% $-928	+10% $-756
Rate	-1.0pp $-824	-0.5pp $-961	base $-1,101	+0.5pp $-1,243	+1.0pp $-1,388

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1515 Liona St Unit 4216L Honolulu, HI	2.0	2.0	872	$4,500	$5.16	18d	1	0.08mi
1515 Liona St Unit 4401L Honolulu, HI	2.0	2.0	990	$4,900	$4.95	45d	1	0.08mi
1515 Liona St Unit 4216L Honolulu, HI	2.0	2.0	872	$4,500	$5.16	16d	1	0.08mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	5d	1	0.08mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	25d	1	0.13mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	25d	1	0.13mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	45d	1	0.13mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	18d	1	0.13mi
1500 Rycroft St Unit 4116R Honolulu, HI	2.0	2.0	872	$5,000	$5.73	25d	1	0.13mi
1500 Rycroft St Unit 4419R Honolulu, HI	2.0	2.0	1074	$6,000	$5.59	45d	1	0.13mi
1500 Rycroft St Unit 2519R Honolulu, HI	2.0	2.0	1074	$5,300	$4.93	45d	1	0.13mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	25d	1	0.13mi
1500 Rycroft St Unit 800R Honolulu, HI	2.0	2.0	942	$4,700	$4.99	45d	1	0.13mi
1314 Kalakaua Ave #1202 Honolulu, HI	2.0	2.0	832	$5,000	$6.01	21d	1	0.17mi
1314 Kalakaua Ave #407 Honolulu, HI	2.0	1.0	772	$4,800	$6.22	45d	1	0.17mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	802	$4,900	$6.11	5d	2	0.17mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	25d	3	0.17mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	21d	1	0.22mi
1114 Punahou St Unit 9A Honolulu, HI	3.0	2.0	1037	$3,600	$3.47	18d	1	0.24mi
1267 Rycroft St Honolulu, HI	2.0	1.0	816	$2,750	$3.37	25d	1	0.26mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	3d	2	0.27mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$6,300	$6.86	45d	2	0.27mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$6,300	$6.82	18d	2	0.27mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	5d	1	0.35mi
1388 Kapiolani Blvd Honolulu, HI	2.0	2.0	901	$5,500	$6.10	45d	1	0.35mi
1388 Kapiolani Blvd #1611 Honolulu, HI	2.0	2.0	801	$4,550	$5.68	45d	1	0.35mi
1388 Kapiolani Blvd #2901 Honolulu, HI	2.0	2.0	901	$4,800	$5.33	45d	1	0.35mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	45d	1	0.35mi
1388 Kapiolani Blvd #1606 Honolulu, HI	2.0	2.0	809	$4,500	$5.56	45d	1	0.35mi
1388 Kapiolani Blvd #4111 Honolulu, HI	2.0	2.0	816	$6,500	$7.97	45d	1	0.35mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	25d	1	0.35mi
1388 Kapiolani Blvd #1606 Honolulu, HI	2.0	2.0	809	$4,500	$5.56	13d	1	0.35mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	12d	1	0.35mi
1388 Kapiolani Blvd #2201 Honolulu, HI	2.0	2.0	901	$5,800	$6.44	45d	1	0.35mi
1374 Kapiolani Blvd Unit 1327705P Honolulu, HI	2.0	2.0	796	$5,740	$7.21	3d	1	0.36mi
1555 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–2.0	1006	$9,500	$9.44	45d	4	0.37mi
1555 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1719	$12,750	$7.42	5d	4	0.37mi
1391 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	971	$4,750	$4.89	5d	2	0.39mi
1631 Kapiolani Blvd #3511 Honolulu, HI	2.0	2.0	895	$3,750	$4.19	45d	1	0.40mi
1631 Kapiolani Blvd #3301 Honolulu, HI	2.0	2.0	892	$3,675	$4.12	5d	1	0.40mi

HOA detail condo

• Monthly dues: $1,277 · $15,324/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $550,000 Active 54 DOM
2. 2026-06-18
   days on market $550,000 Active 51 DOM
3. 2026-06-17
   days on market $550,000 Active 50 DOM
4. 2026-06-16
   days on market $550,000 Active 49 DOM
5. 2026-06-15
   days on market $550,000 Active 48 DOM
6. 2026-06-13
   days on market $550,000 Active 46 DOM
7. 2026-06-13
   days on market $550,000 Active 45 DOM
8. 2026-06-10
   days on market $550,000 Active 43 DOM
9. 2026-06-09
   days on market $550,000 Active 42 DOM
10. 2026-06-08
    days on market $550,000 Active 41 DOM
11. 2026-06-07
    days on market $550,000 Active 40 DOM
12. 2026-06-05
    days on market $550,000 Active 37 DOM
13. 2026-06-03
    days on market $550,000 Active 36 DOM
14. 2026-06-02
    days on market $550,000 Active 35 DOM
15. 2026-06-01
    days on market $550,000 Active 34 DOM
16. 2026-05-31
    days on market $550,000 Active 33 DOM
17. 2026-04-28
    listed $550,000 Active 592-char remark
18. 2014-11-28
    soldstatus $465,000 550-char remark

    Show marketing remark (550 chars)

    NEW PRICE!!! ~ RARELY AVAILABLE in HALE KAHEKA ~ Desirable, well-maintained CORNER-END "01" STACK on HIGH FLOOR with COVERED PARKING in PET FRIENDLY building with expansive floor-to-ceiling skyline VIEWS of Diamond Head & ocean by day & beautiful city lights at night! Spacious 2-bedroom, 2-bath unit with a/c, ceiling fans, and washer/dryer in unit. Conveniently located in town near Ala Moana & Don Quijote. Amenities include 24-hr security, tranquil garden, pool, recreation area, and BBQ! Don't miss this one! Call Today!

19. 2014-11-28
    soldstatus $465,000

    Show marketing remark (550 chars)

    NEW PRICE!!! ~ RARELY AVAILABLE in HALE KAHEKA ~ Desirable, well-maintained CORNER-END "01" STACK on HIGH FLOOR with COVERED PARKING in PET FRIENDLY building with expansive floor-to-ceiling skyline VIEWS of Diamond Head & ocean by day & beautiful city lights at night! Spacious 2-bedroom, 2-bath unit with a/c, ceiling fans, and washer/dryer in unit. Conveniently located in town near Ala Moana & Don Quijote. Amenities include 24-hr security, tranquil garden, pool, recreation area, and BBQ! Don't miss this one! Call Today!

20. 2014-07-28
    listed $475,000 550-char remark

    Show marketing remark (550 chars)

    NEW PRICE!!! ~ RARELY AVAILABLE in HALE KAHEKA ~ Desirable, well-maintained CORNER-END "01" STACK on HIGH FLOOR with COVERED PARKING in PET FRIENDLY building with expansive floor-to-ceiling skyline VIEWS of Diamond Head & ocean by day & beautiful city lights at night! Spacious 2-bedroom, 2-bath unit with a/c, ceiling fans, and washer/dryer in unit. Conveniently located in town near Ala Moana & Don Quijote. Amenities include 24-hr security, tranquil garden, pool, recreation area, and BBQ! Don't miss this one! Call Today!

21. 1994-04-22
    soldstatus $58,600
22. 1987-05-01
    soldstatus $159,000
23. 1984-06-01
    soldstatus $178,200
24. 1983-12-01
    soldstatus $11,505,700
25. 1982-06-01
    soldstatus $32,100

ⓘ 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: $1,840 · $153/mo
• Projected year-2 tax: $1,840 · $153/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $52,302
• − Mortgage interest: −$30,809
• − Property taxes: −$1,840
• − Insurance: −$2,750
• − Repairs & maintenance: −$4,184
• − Management: −$4,184
• − HOA: −$15,324
• − Depreciation: −$16,000
• Taxable loss: −$22,789
• Est. tax savings @ 24.0%: +$5,469
• After-tax cash flow: $-7,737/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): 24,689
• Household income: $77,768
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 1641.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Asian 64% Two or more races 14% White 13% Pacific Islander 6% Hispanic / Latino 5% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Russian 1% Lithuanian 1% Italian 1%
• Foreign-born: 35% · China, South Korea, Vietnam
• Languages at home: 58% English-only · Other Asian/Pacific 15% Chinese 10% Korean 9%

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: ▲ 1.98%
• Current HPI: 376.4197
• Rent YoY: ▲ 3.10%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

+1613.4% since first listed

9 events — show timeline

• 2026-04-28 Listed $550,000 HiCentral MLS
• 2014-11-28 Sold (Public Records) $465,000 Public Records
• 2014-11-28 Sold (MLS) $465,000 HiCentral MLS
• 2014-07-28 Listed $475,000 HiCentral MLS
• 1994-04-22 Sold (Public Records) $58,600 Public Records
• 1987-05-01 Sold (Public Records) $159,000 Public Records
• 1984-06-01 Sold (Public Records) $178,200 Public Records
• 1983-12-01 Sold (Public Records) $11,505,700 Public Records
• 1982-06-01 Sold (Public Records) $32,100 Public Records

Property tax history

+1.4%/yr

Latest (2022): $1,840 · +0.8% YoY. Source: county tax records.