46-4162 Honokaa Waipio Rd · Honokaa, HI 96727

$250,000

3 bd · 1.0 ba · 1,044 sqft · SingleFamily public records · 14 Days on market

Built 1934 7,615 sqft lot

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity in the desirable Hamakua neighborhood. This property offers strong potential for renovation or a new custom home in a location that is not often available. The home is in fair condition and require substantial work, making an ideal opportunity for buyers seeking a project with vision. Conveniently located near the scenic attractions, natural beauty, and outdoor lifestyle of Hawaii Island's Hamakua Coast.

Key facts

• Hamakua neighborhood
• New custom home
• Outdoor lifestyle

Tags

• HAMAKUA NEIGHBORHOOD
• NEW CUSTOM HOME
• SCENIC ATTRACTIONS
• NATURAL BEAUTY
• OUTDOOR LIFESTYLE

Property features AI

Finance

• Financial info: Not listed as in use as a short-term vacation rental

Exterior

• Parking: Covered parking; 2 carport spaces
• Utilities: Cable available; Electricity available; Phone available; Cesspool sewer; County solid waste disposal (no charge); No internet access specified
• Home design: Fee simple ownership; Zoned A-40A; Lava zone 8
• Exterior features: Cleared lot; Graded topography; Road/Street frontage

Interior

• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: No water heater listed
• Interior features: Hardwood flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).

Location & tenants

• Location reads 68/100 on livability (#35 in HI) — a middle-class / working-renter tenant base. Strengths: crime A+, health & safety A+, employment B; Watch: schools D+, amenities D, commute F.
• 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: 27 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 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 $8k of value loss. Plan a longer hold.
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: built in 1934 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $250,000

Questions for the listing agent

1. Built in 1934 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.18% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.25%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-2,372
• Equity at exit: $37,276

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $47,167
• Equity at exit: $21,615

Cash invested: $70,000 (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 96727

• Home prices YoY: -20.6%
• Active inventory: 27
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $2,944 medium
• Mortgage (P&I): −$1,311
• Tax est. 1.5%: −$312 /mo · $3,750/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$618
• Net cashflow: $598

Break-even live

Break-even rent $2,187

Max offer price $250,000

Occupancy floor 75%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $250,000 Active 14 DOM
2. 2026-06-17
   days on market $250,000 Active 13 DOM
3. 2026-06-16
   days on market $250,000 Active 12 DOM
4. 2026-06-15
   days on market $250,000 Active 11 DOM
5. 2026-06-13
   days on market $250,000 Active 9 DOM
6. 2026-06-13
   days on market $250,000 Active 8 DOM
7. 2026-06-10
   days on market $250,000 Active 6 DOM
8. 2026-06-09
   days on market $250,000 Active 5 DOM
9. 2026-06-08
   days on market $250,000 Active 4 DOM
10. 2026-06-07
    days on market $250,000 Active 3 DOM
11. 2026-06-05
    remarks 432-char remark
12. 2026-06-05
    listed $250,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $35,329
• − Mortgage interest: −$14,004
• − Property taxes: −$3,750
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,826
• − Management: −$2,826
• − Depreciation: −$7,273
• Taxable income: $3,400
• Est. tax owed @ 24.0%: −$816
• After-tax cash flow: $6,361/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 — Honokaa

• Score: 68/100
• State rank: #35
• US rank: #9762

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,759

Population outlook (Hawaii County) Hauer SSP2

• Today (2025): 220,733 people
• By 2030: 232,156 · +5.2%
• By 2040: 252,486 · +14.4%
• By 2050: 272,703 · +23.5%
• By 2075: 332,113 · +50.5%
• By 2100: 398,342 · +80.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.87)
• Race & ethnicity: Two or more races 39% Asian 25% White 25% Pacific Islander 10% Hispanic / Latino 9%
• Hispanic origin (detail): Puerto Rican 7%
• Common ancestry: Russian 11% Italian 8% Slovak 2%
• Foreign-born: 13% · China, Canada
• Languages at home: 68% English-only · Other Asian/Pacific 25% Tagalog/Filipino 2% Spanish 1%

Political lean MEDSL · Hawaii

• 2024 margin: Strong D (+28.3) · D 63.0% · R 34.7% · Other 2.3%
• 2008→2024 swing: -25.4pp toward R · 2008: 53.7pp · 2024: 28.3pp
• All cycles: 2024: D+28.3 2020: D+36.2 2016: D+36.6 2012: D+51.3 2008: D+53.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -46.31%
• Current HPI: 178.9559
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

+0.0% since first listed

2 events — show timeline

• 2026-06-04 Listed $250,000 HiCentral MLS
• 2026-06-04 Listed $250,000 HI Information Service

Property tax history

+14.5%/yr

Latest (2025): $291 · +10.1% YoY. Source: county tax records.