53-464 Kamehameha Hwy #4 · Punaluu, HI 96717

$450,000

3 bd · 1.5 ba · 1,104 sqft · Condo public records · 323 Days on market

Built 1976 $408/sqft · 59% below area

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Why this score? — see what drove the C+ 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 +20.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Schools +5.0/10.0
• 1% rule +4.2/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Nestled along the picturesque Northeast coast of Oahu, this stunning location offers a serene and idyllic seaside retreat. Boasting 3 bedrooms and 2 bathrooms, the charming home welcomes you with an open-concept living area, filled with natural light and breathtaking ocean views. The fully equipped kitchen was renovated in 2018 along with the rest of the house interior. Step outside to the private lanai and savor the cool ocean breeze as you unwind or entertain guests. With direct beach access across the street, enjoy swimming, snorkeling, and sunbathing just steps away from your door. Whether you're seeking a peaceful part-time getaway or a permanent residence, this property provides the ideal beachside haven. Immerse yourself in the beauty of Hauula, where you can explore pristine sandy beaches, go hiking in the nearby mountains, or simply relax in your own slice of paradise. Don't miss the opportunity to enjoy this coastal gem. Call now to schedule a showing and embrace a lifestyle of tranquility and serenity. This is a leasehold property with approximately 11 years left on the lease.

Key facts

• Renovated kitchen
• Direct beach access
• Private lanai

Tags

• OPEN-CONCEPT LIVING AREA
• RENOVATED KITCHEN
• PRIVATE LANAI
• DIRECT BEACH ACCESS
• PRISTINE SANDY BEACHES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $450k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $431k (4.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $416k (7.6% below list).
• Recommended offer: $396k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 53/100 on livability (#141 in HI) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A; Watch: housing C-, health & safety C-, schools D-.
• Market conditions: 19 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($396k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago; this cycle's ask has dropped $50k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $245k; list at $450k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $669/mo.
• Climate carrying-cost: in FEMA flood zone VE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $396,000 (12.0% 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 323 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 0.92% ✗
• Cap rate: 7.79%
• Cash-on-cash: 5.36%
• DSCR: 1.24
• GRM: 9.0

CMA / ARV

• ARV (median comp): $1,102,818
• List price: $450,000
• Delta: -59.20%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 23.6%
• Equity multiple: 2.89×
• Total profit: $238,576
• Equity at exit: $405,396

10-year hold

• IRR: 21.0%
• Equity multiple: 6.62×
• Total profit: $708,339
• Equity at exit: $874,251

Cash invested: $126,000 (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 96717

• Home prices YoY: 9.8%
• Active inventory: 19
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $4,160 medium
• Mortgage (P&I): −$2,360
• Tax from tax record: −$176 /mo · $2,107/yr
• Insurance: −$188
• Flood insurance flood zone: −$669 /mo · $8,028/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$874
• Net cashflow: $-106

Break-even live

Break-even rent $4,294

Max offer price $431,300

Occupancy floor 98%

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
53-658 Kamehameha Hwy Hauula, HI	3.0	2.0	1040	$3,800	$3.65	43d	1	0.68mi
53-113 Kamehameha Hwy Hauula, HI	3.0	2.0	1445	$5,000	$3.46	43d	1	1.30mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-18
   days on market $450,000 Active 323 DOM
2. 2026-06-17
   days on market $450,000 Active 322 DOM
3. 2026-06-15
   days on market $450,000 Active 320 DOM
4. 2026-06-13
   days on market $450,000 Active 318 DOM
5. 2026-06-13
   days on market $450,000 Active 317 DOM
6. 2026-06-10
   days on market $450,000 Active 315 DOM
7. 2026-06-09
   days on market $450,000 Active 314 DOM
8. 2026-06-08
   days on market $450,000 Active 313 DOM
9. 2026-06-07
   days on market $450,000 Active 312 DOM
10. 2026-06-05
    days on market $450,000 Active 309 DOM
11. 2026-06-03
    days on market $450,000 Active 308 DOM
12. 2026-06-02
    days on market $450,000 Active 307 DOM
13. 2026-06-01
    days on market $450,000 Active 306 DOM
14. 2026-05-31
    days on market $450,000 Active 305 DOM
15. 2025-09-15
    price $450,000 1104-char remark

    Show marketing remark (1104 chars)

    Nestled along the picturesque Northeast coast of Oahu, this stunning location offers a serene and idyllic seaside retreat. Boasting 3 bedrooms and 2 bathrooms, the charming home welcomes you with an open-concept living area, filled with natural light and breathtaking ocean views. The fully equipped kitchen was renovated in 2018 along with the rest of the house interior. Step outside to the private lanai and savor the cool ocean breeze as you unwind or entertain guests. With direct beach access across the street, enjoy swimming, snorkeling, and sunbathing just steps away from your door. Whether you're seeking a peaceful part-time getaway or a permanent residence, this property provides the ideal beachside haven. Immerse yourself in the beauty of Hauula, where you can explore pristine sandy beaches, go hiking in the nearby mountains, or simply relax in your own slice of paradise. Don't miss the opportunity to enjoy this coastal gem. Call now to schedule a showing and embrace a lifestyle of tranquility and serenity. This is a leasehold property with approximately 11 years left on the lease.

16. 2025-07-25
    listed $500,000 Active 1104-char remark

    Show marketing remark (1104 chars)

    Nestled along the picturesque Northeast coast of Oahu, this stunning location offers a serene and idyllic seaside retreat. Boasting 3 bedrooms and 2 bathrooms, the charming home welcomes you with an open-concept living area, filled with natural light and breathtaking ocean views. The fully equipped kitchen was renovated in 2018 along with the rest of the house interior. Step outside to the private lanai and savor the cool ocean breeze as you unwind or entertain guests. With direct beach access across the street, enjoy swimming, snorkeling, and sunbathing just steps away from your door. Whether you're seeking a peaceful part-time getaway or a permanent residence, this property provides the ideal beachside haven. Immerse yourself in the beauty of Hauula, where you can explore pristine sandy beaches, go hiking in the nearby mountains, or simply relax in your own slice of paradise. Don't miss the opportunity to enjoy this coastal gem. Call now to schedule a showing and embrace a lifestyle of tranquility and serenity. This is a leasehold property with approximately 11 years left on the lease.

17. 2025-07-10
    historical
18. 2024-08-10
    listed $500,000 Active
19. 2024-03-05
    historical
20. 2023-08-13
    price $500,000
21. 2023-07-07
    listed $550,000 Active
22. 2017-03-10
    historical
23. 2016-11-01
    listed $389,900 Active
24. 2016-10-31
    historical
25. 2016-09-17
    price $389,900
26. 2016-08-25
    historical
27. 2016-08-05
    price $399,500
28. 2016-08-05
    price $399,500
29. 2016-05-17
    listed $389,900 Active
30. 2016-05-16
    listed $389,900 Active
31. 2004-07-07
    soldstatus $245,000
32. 2004-05-19
    soldstatus $82,445
33. 2001-01-12
    soldstatus $49,900
34. 2000-10-06
    historical
35. 2000-09-20
    listed $49,900
36. 1979-10-01
    soldstatus $85,000
37. 1979-08-28
    soldstatus $85,000
38. 1979-08-01
    soldstatus $95,000
39. 1978-06-01
    soldstatus $54,500

ⓘ 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: $2,107 · $176/mo
• Projected year-2 tax: $2,107 · $176/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 4/10 Moderate FEMA zone VE · 22% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $49,916
• − Mortgage interest: −$25,207
• − Property taxes: −$2,107
• − Insurance: −$10,278
• − Repairs & maintenance: −$3,993
• − Management: −$3,993
• − Depreciation: −$13,091
• Taxable loss: −$8,754
• Est. tax savings @ 24.0%: +$2,101
• After-tax cash flow: $831/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)

No district data.

Livability — Punaluu

• Score: 53/100
• State rank: #141
• US rank: #24502

Category grades

Amenities F Commute F 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: Punaluu, HI
• Population (ZIP): 4,396

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 0.91)
• Race & ethnicity: Two or more races 43% White 27% Pacific Islander 18% Hispanic / Latino 12% Asian 7%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5%
• Common ancestry: Russian 5% Serbian 3% Scottish 1%
• Foreign-born: 11% · China, Vietnam, Canada
• Languages at home: 80% English-only · Other Asian/Pacific 13% Chinese 2% German/W. Germanic 2%

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: ▲ 39.47%
• Current HPI: 441.891
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+725.7% since first listed

25 events — show timeline

• 2025-09-15 Price Changed $450,000 HiCentral MLS
• 2025-07-25 Listed $500,000 HiCentral MLS
• 2025-07-10 Listing Removed — HiCentral MLS
• 2024-08-10 Listed $500,000 HiCentral MLS
• 2024-03-05 Listing Removed — HiCentral MLS
• 2023-08-13 Price Changed $500,000 HiCentral MLS
• 2023-07-07 Listed $550,000 HiCentral MLS
• 2017-03-10 Listing Removed — HiCentral MLS
• 2016-11-01 Listed $389,900 HiCentral MLS
• 2016-10-31 Listing Removed — HiCentral MLS
• 2016-09-17 Price Changed $389,900 HiCentral MLS
• 2016-08-25 Listing Removed — HiCentral MLS
• 2016-08-05 Price Changed $399,500 HiCentral MLS
• 2016-08-05 Price Changed $399,500 HiCentral MLS
• 2016-05-17 Listed $389,900 HiCentral MLS
• 2016-05-16 Listed $389,900 HiCentral MLS
• 2004-07-07 Sold (Public Records) $245,000 Public Records
• 2004-05-19 Sold (Public Records) $82,445 Public Records
• 2001-01-12 Sold (MLS) $49,900 HiCentral MLS
• 2000-10-06 Listing Removed — HiCentral MLS
• 2000-09-20 Listed $49,900 HiCentral MLS
• 1979-10-01 Sold (Public Records) $85,000 Public Records
• 1979-08-28 Sold (Public Records) $85,000 Public Records
• 1979-08-01 Sold (Public Records) $95,000 Public Records
• 1978-06-01 Sold (Public Records) $54,500 Public Records

Property tax history

+5.9%/yr

Latest (2022): $2,107 · +14.0% YoY. Source: county tax records.