1710 Makiki St Ph 7 · Urban Honolulu, HI 96822

$288,000

1 bd · 1.0 ba · 477 sqft · Condo · 35 Days on market

Built 1958 Average condition $604/sqft · 9% below area Est $317k · 9% under $754/mo HOA · 28% 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).

• ARV discount +11.6/15.0
• Appreciation +6.4/10.0
• Cash flow +5.6/30.0
• 1% rule +4.4/10.0
• Rent growth +3.8/5.0
• Schools +3.7/10.0
• Condition / age +2.8/5.0
• Livability +2.5/5.0
• DSCR +0.0/10.0

Listing remarks

Penthouse, corner unit. Enjoy island living in this well-positioned 1-bedroom, 1-bathroom Penthouse unit at Punahou Hale in Makiki. This end unit captures sweeping views of the city, mountains, and Diamond Head, along with great natural light throughout. Punahou Hale offers secured entry and community laundry for residents. Conveniently situated near shopping, dining, schools, and freeway access, this location makes everyday living easy and accessible. There is no assigned parking; however, parking may be available via a waitlist for $120 per month.

Key facts

• Community laundry
• Sweeping views
• Corner unit

Tags

• CORNER UNIT
• SWEEPING VIEWS
• SECURED ENTRY
• COMMUNITY LAUNDRY
• CONVENIENTLY SITUATED

Property features AI

Finance

• HOA & community: Association covers common areas, electricity, hot water, sewer and water; On-site management; Maintenance fee: $754.85

Exterior

• Utilities: Water included in association fee; Sewer included in association fee; Electricity included in association fee; Hot water included in association fee
• Home design: Condo in Punahou Hale / Oahuan Tower Ltd; Entry on level 11
• Construction: Masonry, concrete and stucco construction
• Exterior features: Fee simple ownership; Zoned A-2 medium density apartment; Clubhouse; Storage facilities

Interior

• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Interior features: End unit; Laminate flooring; Has a view; Average condition
• Laundry & utility: Building laundry facilities

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $288k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-601 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $201k (30.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (5.8% below list).
• Recommended offer: $201k (30.2% below list) — sets the bar for cash-flow.
• Cap rate 3.8% 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; 7 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).
• This rent runs 34% 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 $10k of equity ($2k loan paydown + $8k 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 ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($279k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent; built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,974 (30.2% 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 35 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.94% ✗
• Cap rate: 3.79%
• Cash-on-cash: -8.95%
• DSCR: 0.60
• GRM: 8.8

CMA / ARV

• ARV (median comp): $317,039
• List price: $288,000
• Delta: -9.16%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-951
• Equity at exit: $124,808

10-year hold

• IRR: 5.3%
• Equity multiple: 1.83×
• Total profit: $67,191
• Equity at exit: $188,774

Cash invested: $80,640 (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: $2,713 high
• Mortgage (P&I): −$1,510
• Tax est. 1.5%: −$360 /mo · $4,320/yr
• Insurance: −$120
• HOA: −$754
• Vacancy / Maint / Mgmt: −$570
• Net cashflow: $-601

Break-even live

Break-even rent $3,474

Max offer price $200,974

Occupancy floor —

Sensitivity live

Price	-10% $-402	-5% $-502	+0% $-601	+5% $-701	+10% $-800
Rent	-10% $-816	-5% $-709	+0% $-601	+5% $-494	+10% $-387
Rate	-1.0pp $-456	-0.5pp $-528	base $-601	+0.5pp $-676	+1.0pp $-752

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: $72,000
• Closing costs: $8,640
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1568 Pensacola St Honolulu, HI	1.0–2.0	1.0	523	$2,280	$4.36	24d	1	0.52mi
902 University Ave Unit C Honolulu, HI	2.0	1.0	415	$2,318	$5.58	24d	1	1.18mi
987 Queen St Honolulu, HI	1.0	1.0	453	$3,800	$8.39	11d	9	1.39mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$4,000	$7.22	16d	8	1.39mi
987 Queen St Honolulu, HI	2.0	1.0–2.0	554	$3,925	$7.08	17d	9	1.39mi
440 Olohana St Unit 1327703P Honolulu, HI	1.0	1.0	355	$4,055	$11.42	12d	1	1.43mi
440 Olohana St Unit 1327711P Honolulu, HI	1.0	1.0	355	$3,741	$10.54	2d	1	1.43mi

HOA detail condo

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

Listing history 16 events

1. 2026-06-18
   days on market $288,000 Active 35 DOM
2. 2026-06-17
   days on market $288,000 Active 34 DOM
3. 2026-06-16
   days on market $288,000 Active 33 DOM
4. 2026-06-15
   days on market $288,000 Active 32 DOM
5. 2026-06-13
   days on market $288,000 Active 30 DOM
6. 2026-06-13
   days on market $288,000 Active 29 DOM
7. 2026-06-10
   days on market $288,000 Active 27 DOM
8. 2026-06-09
   days on market $288,000 Active 26 DOM
9. 2026-06-08
   days on market $288,000 Active 25 DOM
10. 2026-06-07
    days on market $288,000 Active 24 DOM
11. 2026-06-05
    days on market $288,000 Active 21 DOM
12. 2026-06-03
    days on market $288,000 Active 20 DOM
13. 2026-06-02
    days on market $288,000 Active 19 DOM
14. 2026-06-01
    days on market $288,000 Active 18 DOM
15. 2026-05-31
    days on market $288,000 Active 17 DOM
16. 2026-05-14
    listed $288,000 Active 555-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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $32,550
• − Mortgage interest: −$16,132
• − Property taxes: −$4,320
• − Insurance: −$1,440
• − Repairs & maintenance: −$2,604
• − Management: −$2,604
• − HOA: −$9,048
• − Depreciation: −$8,378
• Taxable loss: −$11,977
• Est. tax savings @ 24.0%: +$2,874
• After-tax cash flow: $-4,343/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 · 13 photos

Average 55/100 Cosmetic rehab

This penthouse unit in Makiki is in average condition with some cosmetic repairs needed. It offers sweeping views and is well-positioned for urban living.

Repairs flagged

• Minor kitchen backsplash — slight discoloration
• Minor bathroom vanity — slight discoloration
• Minor interior walls — some discoloration

Value-add opportunities

• Both paint interior walls — enhances appearance and value
• Both replace kitchen backsplash — improves functionality and aesthetics
• Both replace bathroom vanity — enhances functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen backsplash · slight discoloration	Minor	$500–3,000
bathroom vanity · slight discoloration	Minor	$500–3,000
interior walls · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — enhances appearance and value ↑
• Both replace kitchen backsplash — improves functionality and aesthetics ↑
• Both replace bathroom vanity — enhances functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

1 event — show timeline

• 2026-05-14 Listed $288,000 HiCentral MLS