988 Halekauwila St #3410 · Urban Honolulu, HI 96814

$569,000

3 bd · 2.0 ba · 477 sqft · Condo public records · 181 Days on market

Built 2017 $1193/sqft · 19% below area Est $701k · 19% under $723/mo HOA · 15% of rent ↓ 3% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +11.6/30.0
• Appreciation +6.0/10.0
• Schools +3.7/10.0
• 1% rule +3.6/10.0
• DSCR +3.4/10.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

High floor 1-bedroom, 1-bath residence with 1 assigned stall in Ward Village. This well-maintained unit features an open concept living area and a comfortable bedroom with ample storage. Enjoy ocean views along with city and neighborhood vistas. Building amenities include a fitness center, Karaoke room, sky deck, playground, surfboard storage and on-site management. Conveniently located near Ala Moana Beach Park, Whole Foods, dining, shopping and entertainment, offering an exceptional urban lifestyle.

Key facts

• City vistas
• Sky deck
• Fitness center

Tags

• OPEN CONCEPT LIVING AREA
• OCEAN VIEWS
• CITY VISTAS
• FITNESS CENTER
• KARAOKE ROOM
• SKY DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $569k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $538k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $492k (13.6% below list).
• Recommended offer: $492k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 C — 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 (+3.1%/yr); 549 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• At $4,919/mo this rent would consume 76% 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 ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 181 days — a 12% lower offer ($501k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $491,860 (13.6% 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 181 days. Have you received any prior offers? Is the seller open to a 14% 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. 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 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: 0.86% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 9.6

CMA / ARV

• ARV (median comp): $700,973
• List price: $569,000
• Delta: -18.83%
• 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: 3.2%
• Equity multiple: 1.17×
• Total profit: $27,829
• Equity at exit: $223,703

10-year hold

• IRR: 7.1%
• Equity multiple: 1.97×
• Total profit: $154,913
• Equity at exit: $321,580

Cash invested: $159,320 (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: 549
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $4,919 medium
• Mortgage (P&I): −$2,984
• Tax from tax record: −$117 /mo · $1,401/yr
• Insurance: −$237
• HOA: −$723
• Vacancy / Maint / Mgmt: −$1,033
• Net cashflow: $-175

Break-even live

Break-even rent $5,140

Max offer price $538,078

Occupancy floor 99%

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: $142,250
• Closing costs: $17,070
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Auahi St Honolulu, HI	2.0	1.0–2.0	629	$6,200	$9.85	24d	2	0.17mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$5,200	$9.39	17d	9	0.19mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$5,200	$9.39	16d	8	0.19mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,735	$5.23	24d	1	1.15mi

HOA detail condo

• Monthly dues: $723 · $8,676/yr
• Likely covers: gym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $569,000 Active 181 DOM
2. 2026-06-17
   days on market $569,000 Active 180 DOM
3. 2026-06-15
   days on market $569,000 Active 178 DOM
4. 2026-06-13
   days on market $569,000 Active 176 DOM
5. 2026-06-13
   days on market $569,000 Active 175 DOM
6. 2026-06-10
   days on market $569,000 Active 173 DOM
7. 2026-06-09
   days on market $569,000 Active 172 DOM
8. 2026-06-08
   days on market $569,000 Active 171 DOM
9. 2026-06-07
   days on market $569,000 Active 170 DOM
10. 2026-06-05
    days on market $569,000 Active 167 DOM
11. 2026-06-03
    days on market $569,000 Active 166 DOM
12. 2026-06-02
    days on market $569,000 Active 165 DOM
13. 2026-06-01
    days on market $569,000 Active 164 DOM
14. 2026-05-31
    days on market $569,000 Active 163 DOM
15. 2026-04-14
    price $569,000 510-char remark

    Show marketing remark (510 chars)

    High floor 1-bedroom, 1-bath residence with 1 assigned stall in Ward Village. This well-maintained unit features an open concept living area and a comfortable bedroom with ample storage. Enjoy ocean views along with city and neighborhood vistas. Building amenities include a fitness center, Karaoke room, sky deck, playground, surfboard storage and on-site management. Conveniently located near Ala Moana Beach Park, Whole Foods, dining, shopping and entertainment, offering an exceptional urban lifestyle.

16. 2025-12-19
    listed $589,000 Active 510-char remark

    Show marketing remark (510 chars)

    High floor 1-bedroom, 1-bath residence with 1 assigned stall in Ward Village. This well-maintained unit features an open concept living area and a comfortable bedroom with ample storage. Enjoy ocean views along with city and neighborhood vistas. Building amenities include a fitness center, Karaoke room, sky deck, playground, surfboard storage and on-site management. Conveniently located near Ala Moana Beach Park, Whole Foods, dining, shopping and entertainment, offering an exceptional urban lifestyle.

17. 2022-05-11
    soldstatus $589,000 Sold 962-char remark

    Show marketing remark (962 chars)

    Welcome to Ke Kilohana in Kakaako, newly completed in 2019, this is a part of the Ward Village master plan. World famous Ala Moana Beach Park, Whole Foods Market, Ward Theaters, Ala Moana shopping center and many fine dining options await you nearby. Ke Kilohana features great amenities including a fitness center, kids' playground, theater, co working spaces, and much more. A special feature of this building is the four Sky Lanais, where you can enjoy Hawaii's magical weather with friends and family. This 1-bedroom unit features amazing makai facing views from the 34th floor and has the added benefit of having no neighbors on both sides of the unit. High quality features in this unit including stainless steel appliances, upgraded closet, blinds and mounted TV's. Pet friendly with up to 2 pets under 50 pounds. First Hawaiian bank is willing to do portfolio financing on Ke Kilohana. Please check with them for details. Unit is vacant and easy to show!

18. 2022-04-05
    status Pending 962-char remark

    Show marketing remark (962 chars)

    Welcome to Ke Kilohana in Kakaako, newly completed in 2019, this is a part of the Ward Village master plan. World famous Ala Moana Beach Park, Whole Foods Market, Ward Theaters, Ala Moana shopping center and many fine dining options await you nearby. Ke Kilohana features great amenities including a fitness center, kids' playground, theater, co working spaces, and much more. A special feature of this building is the four Sky Lanais, where you can enjoy Hawaii's magical weather with friends and family. This 1-bedroom unit features amazing makai facing views from the 34th floor and has the added benefit of having no neighbors on both sides of the unit. High quality features in this unit including stainless steel appliances, upgraded closet, blinds and mounted TV's. Pet friendly with up to 2 pets under 50 pounds. First Hawaiian bank is willing to do portfolio financing on Ke Kilohana. Please check with them for details. Unit is vacant and easy to show!

19. 2022-03-01
    listed $589,000 Active 962-char remark

    Show marketing remark (962 chars)

    Welcome to Ke Kilohana in Kakaako, newly completed in 2019, this is a part of the Ward Village master plan. World famous Ala Moana Beach Park, Whole Foods Market, Ward Theaters, Ala Moana shopping center and many fine dining options await you nearby. Ke Kilohana features great amenities including a fitness center, kids' playground, theater, co working spaces, and much more. A special feature of this building is the four Sky Lanais, where you can enjoy Hawaii's magical weather with friends and family. This 1-bedroom unit features amazing makai facing views from the 34th floor and has the added benefit of having no neighbors on both sides of the unit. High quality features in this unit including stainless steel appliances, upgraded closet, blinds and mounted TV's. Pet friendly with up to 2 pets under 50 pounds. First Hawaiian bank is willing to do portfolio financing on Ke Kilohana. Please check with them for details. Unit is vacant and easy to show!

ⓘ 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: $1,401 · $117/mo
• Projected year-2 tax: $1,497 · $125/mo
• Expected delta: +$96/yr (+$8/mo · 6.9%)

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

Taxation est. · year 1

• Rental income: $59,023
• − Mortgage interest: −$31,873
• − Property taxes: −$1,401
• − Insurance: −$2,845
• − Repairs & maintenance: −$4,722
• − Management: −$4,722
• − HOA: −$8,676
• − Depreciation: −$16,553
• Taxable loss: −$11,768
• Est. tax savings @ 24.0%: +$2,824
• After-tax cash flow: $724/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

-3.4% since first listed

5 events — show timeline

• 2026-04-14 Price Changed $569,000 HiCentral MLS
• 2025-12-19 Listed $589,000 HiCentral MLS
• 2022-05-11 Sold (MLS) $589,000 HiCentral MLS
• 2022-04-05 Pending — HiCentral MLS
• 2022-03-01 Listed $589,000 HiCentral MLS

Property tax history

+36.1%/yr

Latest (2022): $1,401 · -10.5% YoY. Source: county tax records.