1616 Liholiho St #1003 · Urban Honolulu, HI 96822

$335,000

2 bd · 1.0 ba · 654 sqft · Condo public records · 1 Days on market

Built 1974 $754/mo HOA · 24% of rent

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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).

• Cash flow +9.2/30.0
• ARV discount +7.5/15.0
• Appreciation +6.4/10.0
• 1% rule +4.5/10.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• DSCR +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Discover this hidden gem in the highly desirable Makiki neighborhood! This breezy, clean, and bright 2 bdrm, 1 bath unit offers comfort and convenience in a charming boutique building with only 4 units per floor. The walls were renovated with smooth drywall finishes, creating a modern and refreshed look! Enjoy natural airflow and abundant light in this open and inviting space. This secure-entry building offers peace of mind and a community laundry room for added convenience. This unit comes with 1 assigned covered parking stall. Ideally situated! Minutes away from Ala Moana Shopping Center, beaches, Waikiki, UH Manoa, Kapiolani Medical Center, Queen's Medical Center, Hickam AFB, Pearl Harbo

Key facts

• Boutique building
• Natural airflow
• Abundant light

Tags

• BOUTIQUE BUILDING
• COMMUNITY LAUNDRY ROOM
• ASSIGNED COVERED PARKING
• NATURAL AIRFLOW
• ABUNDANT LIGHT
• SECURE-ENTRY BUILDING

Property features AI

Finance

• HOA & community: Association fee includes common areas, sewer and water; Association provides management; Community amenities include barbecue, laundry facilities and trash chute; Maintenance expense: $754

Exterior

• Parking: Assigned covered parking; On-street parking available; One designated parking space
• Security: Key card entry
• Utilities: Water and sewer included in association fee
• Home design: Condo / Apartment (building: 1616 Liholiho); Entry on level 10; Unit is in good condition and has been updated/remodeled; Fee simple tenure; Zoned A-2 Medium Density Apartment
• Construction: Concrete construction
• Exterior features: Key card entry; Has view

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: Partially furnished; End unit; Laminate flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $335k.

Deal economics

• At list price, monthly cash flow is $-317 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $279k (16.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $318k (5.2% below list).
• Recommended offer: $279k (16.7% below list) — sets the bar for cash-flow.
• Cap rate 5.4% 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.
• Market conditions: Rents rising fast (+5.3%/yr); 177 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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).
• This rent runs 40% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (2.7% local appreciation)).
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $52k; list at $335k implies a 544% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $278,960 (16.7% 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 1974 — 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.95% ✗
• Cap rate: 5.39%
• Cash-on-cash: -3.21%
• DSCR: 0.86
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.71% appreciation · 5.35% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.25×
• Total profit: $23,072
• Equity at exit: $145,175

10-year hold

• IRR: 9.0%
• Equity multiple: 2.38×
• Total profit: $129,876
• Equity at exit: $219,580

Cash invested: $93,800 (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 96822

• Home prices YoY: 1.0%
• Rents YoY: 5.3%
• Active inventory: 177
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $3,176 high
• Mortgage (P&I): −$1,757
• Tax from tax record: −$110 /mo · $1,317/yr
• Insurance: −$140
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$754
• Vacancy / Maint / Mgmt: −$667
• Net cashflow: $-317

Break-even live

Break-even rent $3,578

Max offer price $278,960

Occupancy floor —

Sensitivity live

Price	-10% $-128	-5% $-222	+0% $-317	+5% $-412	+10% $-507
Rent	-10% $-568	-5% $-443	+0% $-317	+5% $-192	+10% $-66
Rate	-1.0pp $-149	-0.5pp $-232	base $-317	+0.5pp $-404	+1.0pp $-492

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1717 Mott-Smith Dr #2403 Honolulu, HI	1.0	1.0	644	$2,700	$4.19	24d	1	0.16mi
1535 Pensacola St #209 Honolulu, HI	1.0	1.0	493	$2,700	$5.48	3d	1	0.23mi
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,735	$5.23	24d	1	0.25mi
1314 Kalakaua Ave Honolulu, HI	2.0	1.0–2.0	773	$4,675	$6.04	24d	3	0.50mi
1315 Liona St Honolulu, HI	1.0	1.0	606	$3,950	$6.52	20d	1	0.59mi
1515 Liona St #4407 Honolulu, HI	1.0	1.0	606	$3,750	$6.19	4d	1	0.63mi
1500 Rycroft St Unit 2304 Honolulu, HI	1.0	1.0	569	$3,200	$5.62	24d	1	0.70mi
1500 Rycroft St Unit 2607R Honolulu, HI	1.0	1.0	618	$3,500	$5.66	24d	1	0.70mi
1500 Rycroft St Unit 3903 Honolulu, HI	1.0	1.0	571	$3,750	$6.57	24d	1	0.70mi
1500 Rycroft St Unit 3005R Honolulu, HI	1.0	1.0	523	$3,200	$6.12	20d	1	0.70mi
1500 Rycroft St Unit 1904 Honolulu, HI	1.0	1.0	564	$3,400	$6.03	18d	1	0.70mi
1500 Rycroft St Honolulu, HI	1.0	1.0	523	$3,200	$6.12	18d	1	0.70mi
1500 Rycroft St Unit 2306R Honolulu, HI	1.0	1.0	563	$4,000	$7.10	44d	1	0.70mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	919	$6,300	$6.86	44d	2	0.85mi
629 Keeaumoku St Honolulu, HI	1.0	1.0	618	$3,350	$5.42	3d	2	0.85mi
629 Keeaumoku St Honolulu, HI	1.0–2.0	1.0–2.0	923	$6,300	$6.82	18d	2	0.85mi
1388 Kapiolani Blvd Unit 3910 Honolulu, HI	1.0	1.0	619	$4,000	$6.46	4d	1	0.89mi
1388 Kapiolani Blvd #4205 Honolulu, HI	1.0	1.0	567	$4,500	$7.94	44d	1	0.89mi
1388 Kapiolani Blvd #2703 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	24d	1	0.89mi
1388 Kapiolani Blvd #2903 Honolulu, HI	1.0	1.0	574	$3,500	$6.10	11d	1	0.89mi
1296 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	974	$3,550	$3.64	15d	2	0.90mi
1391 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–2.0	971	$4,750	$4.89	4d	2	0.94mi
1655 Makaloa St #1510 Honolulu, HI	1.0	1.0	500	$2,600	$5.20	22d	1	0.95mi
801 S King St Honolulu, HI	1.0	1.0	671	$2,895	$4.31	18d	1	0.96mi
1401 Lusitana St #504 Honolulu, HI	1.0	1.0	527	$2,700	$5.12	24d	1	0.99mi
225 Auwaiolimu St Honolulu, HI	3.0	1.0	710	$3,800	$5.35	18d	1	1.03mi
888 Kapiolani Blvd Honolulu, HI	1.0–3.0	1.0–3.0	1162	$6,750	$5.81	4d	4	1.04mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	730	$3,198	$4.38	2d	2	1.07mi
1009 Kapiolani Blvd Honolulu, HI	2.0	2.0	745	$3,400	$4.56	24d	2	1.07mi
909 Kapiolani Blvd Honolulu, HI	1.0–2.0	1.0–2.0	790	$3,600	$4.55	4d	2	1.08mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	855	$3,000	$3.51	24d	2	1.11mi
475 Atkinson Dr Honolulu, HI	1.0–2.0	1.0	798	$3,000	$3.76	22d	3	1.11mi
1133 Waimanu St #1808 Honolulu, HI	1.0	1.0	556	$2,800	$5.04	12d	1	1.12mi
1133 Waimanu St #405 Honolulu, HI	1.0	1.0	550	$2,700	$4.91	4d	1	1.12mi
1861 Kapiolani Blvd Unit C Honolulu, HI	1.0	1.0	525	$2,700	$5.14	22d	1	1.14mi
419A Atkinson Dr #1103 Honolulu, HI	2.0	1.0	664	$2,700	$4.07	17d	1	1.19mi
419A Atkinson Dr Honolulu, HI	2.0	1.0	664	$2,698	$4.06	18d	2	1.19mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$5,200	$9.39	18d	9	1.20mi
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	11d	9	1.20mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$5,200	$9.39	17d	8	1.20mi

HOA detail condo

• Monthly dues: $754 · $9,048/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $335,000 Active 1 DOM

ⓘ 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: $1,317 · $110/mo
• Projected year-2 tax: $1,317 · $110/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $38,117
• − Mortgage interest: −$18,765
• − Property taxes: −$1,317
• − Insurance: −$2,472
• − Repairs & maintenance: −$3,049
• − Management: −$3,049
• − HOA: −$9,048
• − Depreciation: −$9,745
• Taxable loss: −$9,330
• Est. tax savings @ 24.0%: +$2,239
• After-tax cash flow: $-1,568/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): 43,747
• Household income: $95,947
• Rent vs Own: 46.3% rent · 53.7% own
• Severe rent burden: 2139.0

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 0.72)
• Race & ethnicity: Asian 48% White 21% Two or more races 20% Pacific Islander 7% Hispanic / Latino 5% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Russian 2% Lithuanian 1% Romanian 1%
• Foreign-born: 20% · South Korea, China, Vietnam
• Languages at home: 73% English-only · Other Asian/Pacific 11% Chinese 4% 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: ▲ 2.71%
• Current HPI: 273.9456
• Rent YoY: ▲ 5.35%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

+544.2% since first listed

4 events — show timeline

• 2026-06-17 Listed $335,000 HiCentral MLS
• 2024-04-28 Rental Removed $2,100 HICMLS
• 2024-04-12 Listed for Rent $2,100 HICMLS
• 1974-10-01 Sold (Public Records) $52,000 Public Records

Property tax history

+10.4%/yr

Latest (2022): $1,317 · +3.2% YoY. Source: county tax records.