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84-688 Ala Mahiku St Unit 34162C
F Composite 29.63
Why this score? — see what drove the F 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 +12.7/15.0
  • Condition / age +3.8/5.0
  • Rent growth +3.3/5.0
  • 1% rule +3.2/10.0
  • Livability +3.1/5.0
  • Schools +1.9/10.0
  • Cash flow +1.7/30.0
  • DSCR +0.0/10.0
  • Appreciation +0.0/10.0

$249,000

84-688 Ala Mahiku St Unit 34162C · Makaha, HI 96792
2 bd · 1.0 ba · 815 sqft · Condo · 16 Days on market
Built 1975 Good condition $306/sqft · 12% below area Est $281k · 12% under $852/mo HOA · 42% of rent ↓ 21% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Charming corner-unit condo in Makaha Valley Plantation, a gated Leeward Coast community moments from world-renowned Makaha Beach Park's legendary surf and sunsets. This fee simple 2BD/1BA end unit offers 815 sq ft of updated living space on the third floor, capturing mountain, ocean, and sunset views. Fresh interior paint plus new screen and interior doors (Dec 2025), new shower valve, spout, and showerhead (Dec 2025), and a fully rebuilt toilet (Mar 2026) mean move-in-ready comfort. Ceramic tile and laminate flooring throughout. Resort-style amenities include a pool, sauna, tennis court, BBQ area, community laundry, and on-site resident manager with security patrol for peace of mind.

Key facts

  • Gated community
  • Corner-unit condo
  • Updated living space

Tags

CORNER-UNIT CONDOGATED COMMUNITYUPDATED LIVING SPACEMOUNTAIN OCEAN SUNSET VIEWSFRESH INTERIOR PAINTNEW SCREEN AND INTERIOR DOORS

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/1.0-bath condo listed at $249k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-954 ($-11k/yr) — negative.
  • To cash-flow at today's rent, offer at most $111k (55.4% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (17.7% below list).
  • Recommended offer: $111k (55.4% below list) — sets the bar for cash-flow.

Location & tenants

  • Location reads 61/100 on livability (#82 in HI) — a middle-class / working-renter tenant base. Strengths: commute A; Watch: crime C-, health & safety C-, housing D+.
  • 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: Makaha Elementary School (math 7% / reading 13%, grade F, #178 of 183 statewide, top 99%, 418 students, 83% FRL); Waianae Intermediate School (math 8% / reading 26%, grade F, #40 of 42 statewide, top 95%, 671 students, 74% FRL); Waianae High School (math 12% / reading 47%, grade F, #35 of 43 statewide, top 86%, 1,831 students, 64% FRL) — zoned schools average 74% FRL vs 39% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Zoned-school proficiency averages 19% at this address vs 41% district-wide (-22 pts) — the specific schools serving this property underperform the Hawaii Department Of Education average; the district grade overstates school quality for this exact location.
  • Market conditions: Rents rising (+3.4%/yr); 281 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 76% 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).

Forward outlook

  • Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
  • Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

  • It's been on market 16 days — a 2% lower offer ($245k) is reasonable based on typical stale-listing flexibility.
  • 2 sale attempts 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.

Risks & watch-outs

  • Watch-outs: HOA is 42% of rent.
Recommended offer $111,009 (55.4% 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. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
  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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
  7. 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?
  8. 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.
  9. 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.
  10. 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
0.82%
Cap rate
1.70%
Cash-on-cash
-16.41%
DSCR
0.27
GRM
10.1

CMA / ARV

ARV (median comp)
$281,469
List price
$249,000
Delta
-11.18%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
84-718 Ala Mahiku St Unit 76B 0.10mi 2/1.0 815 (0%) 2mo $175,000 $215 94
84-755 Ala Mahiku St Unit 73B 0.10mi 2/1.0 815 (0%) 6mo $170,000 $209 91
84-757 Kiana Pl Unit 2/4B 0.20mi 2/1.0 815 (0%) 3mo $294,000 $361 88
84-757 Kiana Pl Unit 2B 0.20mi 2/1.0 830 (+2%) 5mo $270,000 $325 83
84-770 Kili Dr #434 0.15mi 1/1.0 (-1) 680 (-17%) 0mo $171,900 $253 63
84-710 Kili Dr Unit D1315 0.12mi 1/1.0 (-1) 680 (-17%) 2mo $185,000 $272 63
84-770 Kili Dr Unit J633 0.15mi 1/1.0 (-1) 680 (-17%) 2mo $198,500 $292 61
84-770 Kili Dr Unit J634 0.22mi 1/1.0 (-1) 680 (-17%) 0mo $198,000 $291 60
84-740 Kili Dr #725 0.14mi 1/1.0 (-1) 680 (-17%) 4mo $240,000 $353 60
84-1021 Lahilahi St #808 1.38mi 1/1.5 (-1) 850 (+4%) 5mo $300,000 $353 47
84-658 Manuku St 0.76mi 3/1.0 (+1) 885 (+9%) 4mo $520,000 $588 42
84-537 Manuku St 0.81mi 3/1.5 (+1) 960 (+18%) 0mo $590,000 $615 33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.38% rent growth · sell at horizon

5-year hold
IRR
-47.2%
Equity multiple
-0.43×
Total profit
$-99,744
Equity at exit
$37,127
10-year hold
IRR
-81.3%
Equity multiple
-1.29×
Total profit
$-159,558
Equity at exit
$21,529

Cash invested: $69,720 (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.

Active competition Active MLS

For sale now
1 active · 3 under contract
Median asking
$229,000 ($337/sqft)
Median days on market
71 d
This list price
100% of active listings are priced below it
ARV vs active asking
+2.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 96792

Home prices YoY
-18.8%
Rents YoY
3.4%
Active inventory
281
Price-to-rent
10.1×

Monthly cashflow live

Estimated rent
$2,050 high interval (Pro) →
Mortgage (P&I)
$1,306
Tax est. 1.5%
$311 /mo · $3,735/yr
Insurance
$104
HOA
$852
Vacancy / Maint / Mgmt
$430
Net cashflow
$-954

Break-even live

Break-even rent $3,257
Max offer price $111,009
Occupancy floor

Sensitivity live

Price -10% $-782 -5% $-868 +0% $-954 +5% $-1,040 +10% $-1,126
Rent -10% $-1,116 -5% $-1,035 +0% $-954 +5% $-873 +10% $-792
Rate -1.0pp $-828 -0.5pp $-890 base $-954 +0.5pp $-1,018 +1.0pp $-1,084

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
$62,250
Closing costs
$7,470
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 37 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
84-688 Ala Mahiku St Unit 166A Waianae, HI 2.0 1.0 815 $1,900 $2.33 93d 1 0.01mi
84-688 Ala Mahiku St Unit 33154A Waianae, HI 2.0 1.0 815 $2,300 $2.82 93d 1 0.01mi
84-718 Ala Mahiku St Unit 78C Waianae, HI 2.0 1.0 815 $1,800 $2.21 28d 1 0.04mi
84-665 Ala Mahiku St Unit 142B Waianae, HI 2.0 1.0 815 $1,900 $2.33 93d 1 0.10mi
84-755 Ala Mahiku St Apt 72B Waianae, HI 2.0 1.0 815 $1,900 $2.33 63d 1 0.11mi
84-707 Kiana Pl Waianae, HI 2.0 1.0 815 $1,950 $2.39 28d 2 0.11mi
84-754 Ala Mahiku St Unit 44A Waianae, HI 2.0 1.0 815 $2,100 $2.58 93d 1 0.11mi
84-707 Kiana Pl Waianae, HI 2.0 1.0 815 $1,950 $2.39 39d 1 0.11mi
84-754 Ala Mahiku St Apt 53A Waianae, HI 2.0 1.0 815 $1,800 $2.21 20d 1 0.11mi
84-687 Ala Mahiku St Unit 126C Waianae, HI 2.0 1.0 815 $2,250 $2.76 11d 1 0.11mi
84-687 Ala Mahiku St Unit 30134B Waianae, HI 2.0 1.0 830 $2,200 $2.65 72d 1 0.11mi
84-687 Ala Mahiku St Unit 137-B Waianae, HI 2.0 1.0 815 $1,800 $2.21 72d 1 0.11mi
84-718 Ala Mahiku St Unit 90C Waianae, HI 2.0 1.0 815 $1,800 $2.21 20d 1 0.11mi
84-718 Ala Mahiku St Unit 2198B Waianae, HI 2.0 1.0 822 $1,595 $1.94 93d 1 0.11mi
84-710 Kili Dr #1215 Waianae, HI 1.0 1.0 680 $2,000 $2.94 35d 1 0.12mi
84-710 Kili Dr Waianae, HI 1.0 1.0 634 $2,000 $3.15 35d 3 0.12mi
84-710 Kili Dr #1919 Waianae, HI 1.0 1.0 680 $2,000 $2.94 72d 1 0.12mi
84-740 Kili Dr Waianae, HI 1.0 1.0 680 $1,950 $2.87 35d 2 0.14mi
84-740 Kili Dr Waianae, HI 1.0 1.0 680 $1,950 $2.87 41d 2 0.14mi
84-740 Kili Dr #425 Waianae, HI 1.0 1.0 680 $2,000 $2.94 47d 1 0.14mi
84-770 Kili Dr Unit 1 Waianae, HI 1.0 1.0 744 $2,850 $3.83 93d 1 0.15mi
84-680 Kili Dr Waianae, HI 1.0–2.0 1.0 680 $2,200 $3.24 41d 2 0.19mi
84-680 Kili Dr Waianae, HI 1.0–2.0 1.0 680 $2,200 $3.24 33d 2 0.19mi
84-680 Kili Dr Waianae, HI 1.0–2.0 1.0 689 $2,200 $3.19 19d 2 0.19mi
84-680 Kili Dr Waianae, HI 1.0–2.0 1.0 680 $2,200 $3.24 63d 3 0.19mi
84-757 Kiana Pl Unit 6B Waianae, HI 2.0 1.0 815 $2,100 $2.58 41d 1 0.21mi
84-680 Kili Dr Unit B607 Waianae, HI 1.0 1.0 680 $2,100 $3.09 70d 1 0.26mi
84-640 Widemann St Unit 2 Waianae, HI 1.0 1.0 840 $2,000 $2.38 93d 1 1.04mi
84-824 Farrington Hwy Waianae, HI 2.0 1.0 700 $2,200 $3.14 72d 1 1.09mi
84-917 Hanalei St Unit D Waianae, HI 3.0 1.0 700 $2,500 $3.57 26d 1 1.16mi
84-917 Hanalei St Unit C Waianae, HI 3.0 1.0 700 $2,400 $3.43 52d 1 1.16mi
84-917 Hanalei St Waianae, HI 3.0 1.0 700 $2,500 $3.57 93d 1 1.17mi
84-956 Hanalei St Unit B Waianae, HI 3.0 1.0 800 $3,300 $4.12 93d 1 1.18mi
84-265 Farrington Hwy Waianae, HI 1.0 1.0 452 $1,800 $3.98 28d 3 1.20mi
84-1026 Hana St #3 Waianae, HI 2.0 1.0 600 $2,000 $3.33 93d 1 1.24mi
84-1111 Lahaina St Unit A Waianae, HI 3.0 2.0 920 $2,900 $3.15 93d 1 1.28mi
84-1111 Hana St Unit 15 Waianae, HI 2.0 1.0 600 $2,000 $3.33 20d 1 1.35mi

Property features AI

Finance

Other
Pets: contact association for details
Financial info
Maintenance expense approximately $852.44
HOA & community
Association: MVP AOAOAssociation fee covers common areas, cable TV, hot water, internet, grounds and structure maintenance, sewer and waterAssociation offers management

Exterior

Parking
Assigned parking (1 space) with guest parkingOne open parking space
Security
Gated communitySecurity guard
Utilities
Water included in associationSewer included in associationHot water included in associationCable and internet included in association
Home design
Condominium in Makaha Valley PltnEntry on level 3Fee simple ownershipMedium-density apartment zoning
Construction
Built in 2000Double wall construction
Exterior features
Gated communitySecurity guardCommunity spaBarbecue areaCommunity poolTennis courtsLandscaped groundsLaundry facilities

Interior

Flooring
Ceramic tileLaminate
Bathrooms
1 full bathroom
Interior features
End unitGood conditionHas a view

HOA detail $852/mo · $10,224/yr condo

Likely covers
poolsecurity
Assessments
None detected in remarks — confirm with the listing agent.

Listing history 41 events

  1. 2026-08-08
    days on market $249,000 Active 16 DOM
  2. 2026-08-07
    days on market $249,000 Active 15 DOM
  3. 2026-08-06
    days on market $249,000 Active 14 DOM
  4. 2026-08-05
    days on market $249,000 Active 13 DOM
  5. 2026-08-04
    days on market $249,000 Active 12 DOM
  6. 2026-08-03
    days on market $249,000 Active 11 DOM
  7. 2026-07-31
    days on market $249,000 Active 8 DOM
  8. 2026-07-30
    days on market $249,000 Active 7 DOM
  9. 2026-07-30
    days on market $249,000 Active 6 DOM
  10. 2026-07-28
    days on market $249,000 Active 5 DOM
  11. 2026-07-26
    days on market $249,000 Active 3 DOM
  12. 2026-07-24
    pricedays on marketlisting id $249,000 Active 1 DOM
  13. 2026-07-01
    days on market $250,000 Active 167 DOM
  14. 2026-06-30
    days on market $250,000 Active 166 DOM
  15. 2026-06-29
    days on market $250,000 Active 165 DOM
  16. 2026-06-28
    days on market $250,000 Active 164 DOM
  17. 2026-06-27
    days on market $250,000 Active 163 DOM
  18. 2026-06-27
    days on market $250,000 Active 162 DOM
  19. 2026-06-25
    days on market $250,000 Active 160 DOM
  20. 2026-06-22
    days on market $250,000 Active 158 DOM
  21. 2026-06-21
    days on market $250,000 Active 157 DOM
  22. 2026-06-18
    days on market $250,000 Active 154 DOM
  23. 2026-06-17
    days on market $250,000 Active 153 DOM
  24. 2026-06-16
    days on market $250,000 Active 152 DOM
  25. 2026-06-15
    days on market $250,000 Active 151 DOM
  26. 2026-06-13
    days on market $250,000 Active 149 DOM
  27. 2026-06-13
    days on market $250,000 Active 148 DOM
  28. 2026-06-10
    days on market $250,000 Active 146 DOM
  29. 2026-06-09
    days on market $250,000 Active 145 DOM
  30. 2026-06-08
    days on market $250,000 Active 144 DOM
  31. 2026-06-07
    days on market $250,000 Active 143 DOM
  32. 2026-06-05
    days on market $250,000 Active 140 DOM
  33. 2026-06-03
    days on market $250,000 Active 139 DOM
  34. 2026-06-02
    days on market $250,000 Active 138 DOM
  35. 2026-06-01
    days on market $250,000 Active 137 DOM
  36. 2026-05-31
    days on market $250,000 Active 136 DOM
  37. 2026-04-29
    price $250,000 1192-char remark
  38. 2026-04-05
    price $270,000 1192-char remark
  39. 2026-02-19
    price $285,000 1192-char remark
  40. 2026-01-28
    price $309,000 1192-char remark
  41. 2026-01-15
    listed $317,000 Active 1192-char remark

ⓘ 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 D · 0% chance over 30 yrs
  • 🫁 Air quality 1/10 Low

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$24,595
− Mortgage interest
−$13,948
− Property taxes
−$3,735
− Insurance
−$1,245
− Repairs & maintenance
−$1,968
− Management
−$1,968
− HOA
−$10,224
− Depreciation
−$7,244
Taxable loss
−$15,736
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$3,777
After-tax cash flow
$-7,667/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $4,075–$12,225 screening

This well-maintained and updated condo in Makaha Valley Plantation is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

  • Both Painting exterior walls — Enhances curb appeal and resale value
  • Both Landscaping improvements — Enhances curb appeal and rental value
  • Both Upgrade kitchen appliances — Modernizes the space and attracts more buyers

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 19/100

Zoned Schools

Elementary Makaha Elementary School F HI #178/183 Nat'l #38,691/41,679 Middle Waianae Intermediate School F HI #40/42 Nat'l #12,279/14,009 High Waianae High School F HI #35/43 Nat'l #11,215/17,239

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
C Composite livability gradescore 61/100

Livability — Makaha

Score
61/100
State rank
#82
US rank
#18431

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Makaha, HI
County
Honolulu County · 1,072,641 people
Metro
Urban Honolulu, HI
Population (ZIP)
49,618
Household income
$87,509
Rent vs Own
36.0% rent · 64.0% own
Severe rent burden
16% of renters

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 0.96)
Race & ethnicity
Pacific Islander 42% Two or more races 32% Hispanic / Latino 13% Asian 10% White 10% Black 3%
Hispanic origin (detail)
Mexican 3% Puerto Rican 6%
Common ancestry
Russian 6% Romanian 1%
Foreign-born
9% · Canada
Languages at home
82% English-only · Other Asian/Pacific 13% Tagalog/Filipino 2% Spanish 1%

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

Price history

-21.5% since first listed
7 events — show timeline
  • 2026-07-23 Listed $249,000 HiCentral MLS
  • 2026-07-01 Listing Removed HiCentral MLS
  • 2026-04-29 Price Changed $250,000 HiCentral MLS
  • 2026-04-05 Price Changed $270,000 HiCentral MLS
  • 2026-02-19 Price Changed $285,000 HiCentral MLS
  • 2026-01-28 Price Changed $309,000 HiCentral MLS
  • 2026-01-15 Listed $317,000 HiCentral MLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…