1720 Ala Moana Blvd Ph -5B · Urban Honolulu, HI 96815

$130,000

1 bd · 1.0 ba · 588 sqft · Other · 398 Days on market

Built 1961 $221/sqft · 16% above area Est $112k · 16% over $817/mo HOA · 26% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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
• ARV discount +0.1/15.0

Listing remarks MLS

Welcome to the PENTHOUSE B5 at Tradewind Hotel Inc, located in the heart of Waikiki! 513 sq ft Living Area + 75 sq ft Enclosed Lanai. This spacious unit offers sweeping views, excellent cross-ventilation, and a prime location just minutes from beaches, shopping, dining, and entertainment. Rare opportunity to own a penthouse in a well-managed, secure building with beautiful tropical grounds. Tenant-occupied at $2,100/month on a month-to-month lease—great investment potential or move-in ready as your personal retreat. Maintenance fee includes electricity, water, sewer, and basic cable. Don’t miss this chance to enjoy Waikiki living at its finest! OCEAN VIEW from the enclosed Lanai! !! This place is very close to Bus stop! It's very close to restaurants. It's very close to the beach!!

Key facts

• Tropical grounds
• Penthouse
• Investment potential

Tags

• PENTHOUSE
• PRIME LOCATION
• TROPICAL GROUNDS
• INVESTMENT POTENTIAL

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $305 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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 B — 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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).
• At $3,098/mo this rent would consume 48% of the median local household income ($77k/yr) (locally 2422% 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 $4k of equity ($899 loan paydown + $4k appreciation (2.7% local appreciation)).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.7% appreciation + 6.0% rent growth), your $36k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, 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 398 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 26% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 398 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.38% ✓
• Cap rate: 13.05%
• Cash-on-cash: 24.12%
• DSCR: 2.07
• GRM: 3.5

CMA / ARV

• ARV (median comp): $111,623
• List price: $130,000
• Delta: 16.46%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.5%
• Equity multiple: 2.20×
• Total profit: $43,774
• Equity at exit: $56,581

10-year hold

• IRR: 25.1%
• Equity multiple: 5.07×
• Total profit: $148,074
• Equity at exit: $85,768

Cash invested: $36,400 (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: 3.5×

Monthly cashflow live

• Estimated rent: $3,098 high
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$817
• Vacancy / Maint / Mgmt: −$650
• Net cashflow: $305

Break-even live

Break-even rent $2,711

Max offer price $130,000

Occupancy floor 85%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1778 Ala Moana Blvd Unit 1541754P Honolulu, HI	1.0	1.0	721	$4,387	$6.08	14d	1	0.04mi
1765 Ala Moana Blvd #1183 Honolulu, HI	1.0	1.0	440	$3,100	$7.05	3d	1	0.05mi
1778 Ala Moana Blvd #2606 Honolulu, HI	1.0	1.0	724	$2,895	$4.00	3d	1	0.07mi
1778 Ala Moana Blvd #1219 Honolulu, HI	1.0	1.0	724	$4,600	$6.35	23d	1	0.07mi
1778 Ala Moana Blvd #801 Honolulu, HI	1.0	1.0	724	$3,400	$4.70	23d	1	0.07mi
1778 Ala Moana Blvd #3318 Honolulu, HI	1.0	1.0	683	$3,400	$4.98	3d	1	0.07mi
1778 Ala Moana Blvd #1307 Honolulu, HI	1.0	1.0	683	$2,900	$4.25	23d	1	0.07mi
1778 Ala Moana Blvd #1317 Honolulu, HI	1.0	1.0	683	$2,775	$4.06	21d	1	0.07mi
1777 Ala Moana Blvd Unit 1327715P Honolulu, HI	1.0	1.0	495	$5,590	$11.29	43d	1	0.12mi
411 Hobron Ln Honolulu, HI	1.0	1.0	566	$3,575	$6.31	43d	2	0.16mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,322	$5.78	3d	4	0.16mi
411 Hobron Ln Honolulu, HI	1.0	1.0	575	$3,475	$6.04	44d	3	0.16mi
411 Hobron Ln Unit 1327718P Honolulu, HI	1.0	1.0	538	$3,558	$6.61	11d	1	0.17mi
419A Atkinson Dr Honolulu, HI	2.0	1.0	664	$2,698	$4.06	17d	2	0.19mi
419A Atkinson Dr #1103 Honolulu, HI	2.0	1.0	664	$2,700	$4.07	16d	1	0.19mi
400 Hobron Ln #2712 Honolulu, HI	1.0	1.0	582	$2,700	$4.64	11d	1	0.21mi
425 Ena Rd Unit 204C Honolulu, HI	1.0	1.0	600	$2,700	$4.50	23d	1	0.23mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	798	$2,600	$3.26	21d	3	0.27mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	855	$2,700	$3.16	23d	2	0.27mi
1861 Kapiolani Blvd Unit C Honolulu, HI	1.0	1.0	525	$2,700	$5.14	21d	1	0.40mi
1655 Makaloa St #1510 Honolulu, HI	1.0	1.0	500	$2,600	$5.20	21d	1	0.44mi
2045 Kalakaua Ave Honolulu, HI	1.0	1.0	657	$4,200	$6.39	43d	1	0.47mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$4,055	$11.42	11d	1	0.58mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	2d	1	0.58mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$3,400	$3.68	17d	2	0.59mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	2d	2	0.59mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$3,500	$3.81	43d	2	0.59mi
1391 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	971	$3,500	$3.60	3d	2	0.61mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	3d	1	0.63mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	23d	1	0.64mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	10d	1	0.64mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	43d	1	0.64mi
223 Saratoga Rd #1012 Honolulu, HI	—	1.0	559	$2,700	$4.83	17d	1	0.64mi
2140 Khi AVE Unit 2306 Honolulu, HI	1.0	1.0	553	$2,700	$4.88	17d	1	0.67mi
2140 Khi AVE Unit 2006 Honolulu, HI	1.0	1.0	553	$3,400	$6.15	2d	1	0.67mi
2140 Khi AVE Unit 803 Honolulu, HI	—	1.0	460	$4,990	$10.85	43d	1	0.67mi
2140 Khi Ave Honolulu, HI	1.0	1.0	577	$4,500	$7.80	23d	1	0.68mi
2140 Khi Ave. unit Ph 2506 Honolulu, HI	1.0	1.0	678	$3,200	$4.72	14d	1	0.68mi
2333 Kapiolani Blvd Unit 1008B Honolulu, HI	2.0	1.0	600	$2,700	$4.50	23d	1	0.69mi
2121 Ala Wai Blvd Honolulu, HI	2.0	1.0–3.0	1006	$4,400	$4.37	10d	1	0.71mi

HOA detail

• Monthly dues: $817 · $9,804/yr
• Likely covers: watersewerelectriccablelandscaping

Listing history 24 events

1. 2026-06-18
   days on market $130,000 Active 398 DOM
2. 2026-06-17
   days on market $130,000 Active 397 DOM
3. 2026-06-15
   days on market $130,000 Active 395 DOM
4. 2026-06-13
   days on market $130,000 Active 393 DOM
5. 2026-06-13
   days on market $130,000 Active 392 DOM
6. 2026-06-10
   days on market $130,000 Active 390 DOM
7. 2026-06-09
   days on market $130,000 Active 389 DOM
8. 2026-06-08
   days on market $130,000 Active 388 DOM
9. 2026-06-07
   days on market $130,000 Active 387 DOM
10. 2026-06-05
    days on market $130,000 Active 384 DOM
11. 2026-06-03
    days on market $130,000 Active 383 DOM
12. 2026-06-02
    days on market $130,000 Active 382 DOM
13. 2026-06-01
    days on market $130,000 Active 381 DOM
14. 2026-05-31
    days on market $130,000 Active 380 DOM
15. 2026-04-16
    price $130,000 809-char remark

    Show marketing remark (809 chars)

    Welcome to the PENTHOUSE B5 at Tradewind Hotel Inc, located in the heart of Waikiki! 513 sq ft Living Area + 75 sq ft Enclosed Lanai. This spacious unit offers sweeping views, excellent cross-ventilation, and a prime location just minutes from beaches, shopping, dining, and entertainment. Rare opportunity to own a penthouse in a well-managed, secure building with beautiful tropical grounds. Tenant-occupied at $2,100/month on a month-to-month lease—great investment potential or move-in ready as your personal retreat. Maintenance fee includes electricity, water, sewer, and basic cable. Don’t miss this chance to enjoy Waikiki living at its finest! OCEAN VIEW from the enclosed Lanai! !! This place is very close to Bus stop! It's very close to restaurants. It's very close to the beach!!

16. 2026-03-13
    price $140,000 809-char remark

    Show marketing remark (809 chars)

    Welcome to the PENTHOUSE B5 at Tradewind Hotel Inc, located in the heart of Waikiki! 513 sq ft Living Area + 75 sq ft Enclosed Lanai. This spacious unit offers sweeping views, excellent cross-ventilation, and a prime location just minutes from beaches, shopping, dining, and entertainment. Rare opportunity to own a penthouse in a well-managed, secure building with beautiful tropical grounds. Tenant-occupied at $2,100/month on a month-to-month lease—great investment potential or move-in ready as your personal retreat. Maintenance fee includes electricity, water, sewer, and basic cable. Don’t miss this chance to enjoy Waikiki living at its finest! OCEAN VIEW from the enclosed Lanai! !! This place is very close to Bus stop! It's very close to restaurants. It's very close to the beach!!

17. 2026-02-27
    price $152,000 809-char remark

    Show marketing remark (809 chars)

    Welcome to the PENTHOUSE B5 at Tradewind Hotel Inc, located in the heart of Waikiki! 513 sq ft Living Area + 75 sq ft Enclosed Lanai. This spacious unit offers sweeping views, excellent cross-ventilation, and a prime location just minutes from beaches, shopping, dining, and entertainment. Rare opportunity to own a penthouse in a well-managed, secure building with beautiful tropical grounds. Tenant-occupied at $2,100/month on a month-to-month lease—great investment potential or move-in ready as your personal retreat. Maintenance fee includes electricity, water, sewer, and basic cable. Don’t miss this chance to enjoy Waikiki living at its finest! OCEAN VIEW from the enclosed Lanai! !! This place is very close to Bus stop! It's very close to restaurants. It's very close to the beach!!

18. 2025-12-20
    price $178,000 809-char remark

    Show marketing remark (809 chars)

    Welcome to the PENTHOUSE B5 at Tradewind Hotel Inc, located in the heart of Waikiki! 513 sq ft Living Area + 75 sq ft Enclosed Lanai. This spacious unit offers sweeping views, excellent cross-ventilation, and a prime location just minutes from beaches, shopping, dining, and entertainment. Rare opportunity to own a penthouse in a well-managed, secure building with beautiful tropical grounds. Tenant-occupied at $2,100/month on a month-to-month lease—great investment potential or move-in ready as your personal retreat. Maintenance fee includes electricity, water, sewer, and basic cable. Don’t miss this chance to enjoy Waikiki living at its finest! OCEAN VIEW from the enclosed Lanai! !! This place is very close to Bus stop! It's very close to restaurants. It's very close to the beach!!

19. 2025-08-28
    price $189,000 809-char remark

    Show marketing remark (809 chars)

    Welcome to the PENTHOUSE B5 at Tradewind Hotel Inc, located in the heart of Waikiki! 513 sq ft Living Area + 75 sq ft Enclosed Lanai. This spacious unit offers sweeping views, excellent cross-ventilation, and a prime location just minutes from beaches, shopping, dining, and entertainment. Rare opportunity to own a penthouse in a well-managed, secure building with beautiful tropical grounds. Tenant-occupied at $2,100/month on a month-to-month lease—great investment potential or move-in ready as your personal retreat. Maintenance fee includes electricity, water, sewer, and basic cable. Don’t miss this chance to enjoy Waikiki living at its finest! OCEAN VIEW from the enclosed Lanai! !! This place is very close to Bus stop! It's very close to restaurants. It's very close to the beach!!

20. 2025-05-29
    price $198,000 809-char remark

    Show marketing remark (809 chars)

    Welcome to the PENTHOUSE B5 at Tradewind Hotel Inc, located in the heart of Waikiki! 513 sq ft Living Area + 75 sq ft Enclosed Lanai. This spacious unit offers sweeping views, excellent cross-ventilation, and a prime location just minutes from beaches, shopping, dining, and entertainment. Rare opportunity to own a penthouse in a well-managed, secure building with beautiful tropical grounds. Tenant-occupied at $2,100/month on a month-to-month lease—great investment potential or move-in ready as your personal retreat. Maintenance fee includes electricity, water, sewer, and basic cable. Don’t miss this chance to enjoy Waikiki living at its finest! OCEAN VIEW from the enclosed Lanai! !! This place is very close to Bus stop! It's very close to restaurants. It's very close to the beach!!

21. 2025-05-16
    listed $200,000 Active 809-char remark

    Show marketing remark (809 chars)

    Welcome to the PENTHOUSE B5 at Tradewind Hotel Inc, located in the heart of Waikiki! 513 sq ft Living Area + 75 sq ft Enclosed Lanai. This spacious unit offers sweeping views, excellent cross-ventilation, and a prime location just minutes from beaches, shopping, dining, and entertainment. Rare opportunity to own a penthouse in a well-managed, secure building with beautiful tropical grounds. Tenant-occupied at $2,100/month on a month-to-month lease—great investment potential or move-in ready as your personal retreat. Maintenance fee includes electricity, water, sewer, and basic cable. Don’t miss this chance to enjoy Waikiki living at its finest! OCEAN VIEW from the enclosed Lanai! !! This place is very close to Bus stop! It's very close to restaurants. It's very close to the beach!!

22. 1990-05-24
    soldstatus $150,000
23. 1988-07-26
    soldstatus $53,250
24. 1988-07-01
    soldstatus $106,500

ⓘ 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 7/10 Severe FEMA zone AE · 82% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $37,170
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$5,768
• − Repairs & maintenance: −$2,974
• − Management: −$2,974
• − HOA: −$9,804
• − Depreciation: −$3,782
• Taxable income: $2,637
• Est. tax owed @ 24.0%: −$633
• After-tax cash flow: $3,028/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

+22.1% since first listed

10 events — show timeline

• 2026-04-16 Price Changed $130,000 HiCentral MLS
• 2026-03-13 Price Changed $140,000 HiCentral MLS
• 2026-02-27 Price Changed $152,000 HiCentral MLS
• 2025-12-20 Price Changed $178,000 HiCentral MLS
• 2025-08-28 Price Changed $189,000 HiCentral MLS
• 2025-05-29 Price Changed $198,000 HiCentral MLS
• 2025-05-16 Listed $200,000 HiCentral MLS
• 1990-05-24 Sold (Public Records) $150,000 Public Records
• 1988-07-26 Sold (Public Records) $53,250 Public Records
• 1988-07-01 Sold (Public Records) $106,500 Public Records