11-3288 Mokuna St · Royal Hawaiian Estates, HI 96785

$339,000

3 bd · 2.0 ba · 1,208 sqft · SingleFamily · 65 Days on market

Built 2025 8,612 sqft lot $281/sqft · 14% below area Est $395k · 14% under ↓ 15% since listing

---

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 +13.9/15.0
• Cash flow +6.1/30.0
• Appreciation +5.3/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.4/10.0
• DSCR +0.4/10.0

Listing remarks

Welcome to Royal Hawaiian Estates, a rising subdivision in Volcano on the Big Island of Hawaii, known for its cool climate, lush landscape, and growing appeal for buyers seeking space and value. This brand-new 2 story Volcano home for sale is smartly designed to maximize every inch of its footprint while preserving generous outdoor space on an approximate 10,000 sq ft lot, ideal for outdoor living, gardening, pets, or future improvements. Built up rather than out, this 3 bedroom, 2 bath home offers approximately 1,200 sq ft of interior living space under roof, providing a modern, efficient layout that feels larger than its size. All three bedrooms are located upstairs, creating separation a

Key facts

• Stylish cabinetry
• Open concept living
• Lush landscape

Tags

• COOL CLIMATE
• LUSH LANDSCAPE
• OUTDOOR LIVING
• GENEROUS OUTDOOR SPACE
• OPEN CONCEPT LIVING
• STYLISH CABINETRY

Property features AI

Finance

• Other: Not used as a short-term vacation rental

Exterior

• Parking: Attached parking; Carport (208)
• Utilities: Electricity available; Catchment water; Septic tank; No solid waste disposal listed
• Home design: New construction; Fee simple ownership; Located in Lava Zone 3; Zoned A-1A
• Construction: Full ownership (no additional ownership type listed)
• Exterior features: Flag lot; Road/street frontage; Paved private road

Interior

• Kitchen: Range hood; Microwave hood; Refrigerator
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric water heater
• Interior features: Laminate flooring
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $339k.

Deal economics

• At list price, monthly cash flow is $-633 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $247k (27.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (36.2% below list).
• Recommended offer: $216k (36.2% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Mountain View Elementary School (math 9% / reading 16%, grade F, #175 of 183 statewide, top 96%, 493 students, 78% FRL); Keaau Middle School (math 11% / reading 31%, grade F, #37 of 42 statewide, top 88%, 749 students, 76% FRL); Keaau High School (math 17% / reading 47%, grade F, #34 of 43 statewide, top 79%, 1,046 students, 73% FRL) — zoned schools average 76% FRL vs 39% district-wide (37 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 22% at this address vs 41% district-wide (-19 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: 159 active listings in the ZIP; 982 units permitted in Hawaii County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $5k of equity ($2k loan paydown + $2k appreciation (0.7% local appreciation)).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 7, 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 65 days — a 6% lower offer ($319k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $216,446 (36.2% 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 65 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.64% ✗
• Cap rate: 4.05%
• Cash-on-cash: -8.00%
• DSCR: 0.64
• GRM: 13.1

CMA / ARV

• ARV (median comp): $395,000
• List price: $339,000
• Delta: -14.18%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11-3111 Alii Koa St	0.12mi	3/2.0	1,308 (+8%)	9mo	$435,000	$333	74
11-3343 Volcano Rd	0.29mi	3/3.0	1,246 (+3%)	6mo	$395,000	$317	72
11-3393 Volcano Rd	0.47mi	3/2.0	1,185 (-2%)	10mo	$450,000	$380	67
11-3156 PA Alii St	0.66mi	3/2.0	1,185 (-2%)	0mo	$415,000	$350	66
11-3073 Puolani St	0.51mi	3/3.0	1,246 (+3%)	19mo	$355,000	$285	52
11-3122 Alii Kane St	0.55mi	3/2.0	1,304 (+8%)	21mo	$380,000	$291	43

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

Projected returns pro-forma

0.66% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.58×
• Total profit: $-39,551
• Equity at exit: $109,752

10-year hold

• IRR: -2.6%
• Equity multiple: 0.69×
• Total profit: $-29,366
• Equity at exit: $141,335

Cash invested: $94,920 (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 96785

• Home prices YoY: 0.4%
• Active inventory: 159
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $2,164 medium
• Mortgage (P&I): −$1,778
• Tax est. 1.5%: −$424 /mo · $5,085/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$455
• Net cashflow: $-633

Break-even live

Break-even rent $2,966

Max offer price $247,430

Occupancy floor —

Sensitivity live

Price	-10% $-399	-5% $-516	+0% $-633	+5% $-750	+10% $-867
Rent	-10% $-804	-5% $-718	+0% $-633	+5% $-547	+10% $-462
Rate	-1.0pp $-462	-0.5pp $-547	base $-633	+0.5pp $-721	+1.0pp $-810

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $339,000 Active 65 DOM
2. 2026-06-19
   price $339,000 Active 62 DOM
3. 2026-06-18
   days on market $350,000 Active 62 DOM
4. 2026-06-17
   days on market $350,000 Active 61 DOM
5. 2026-06-16
   days on market $350,000 Active 60 DOM
6. 2026-06-15
   days on market $350,000 Active 59 DOM
7. 2026-06-13
   days on market $350,000 Active 57 DOM
8. 2026-06-13
   pricedays on market $350,000 Active 56 DOM
9. 2026-06-10
   days on market $374,000 Active 54 DOM
10. 2026-06-09
    days on market $374,000 Active 53 DOM
11. 2026-06-08
    days on market $374,000 Active 52 DOM
12. 2026-06-07
    days on market $374,000 Active 51 DOM
13. 2026-06-05
    days on market $374,000 Active 48 DOM
14. 2026-06-03
    days on market $374,000 Active 47 DOM
15. 2026-06-02
    days on market $374,000 Active 46 DOM
16. 2026-06-01
    days on market $374,000 Active 45 DOM
17. 2026-05-31
    days on market $374,000 Active 44 DOM
18. 2026-04-14
    listed $379,000 Active 1916-char remark
19. 2026-03-30
    historical
20. 2026-03-03
    price $349,000
21. 2026-02-04
    price $375,000
22. 2026-01-04
    price $385,000
23. 2025-12-16
    listed $400,000 Active

ⓘ 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: $25,974
• − Mortgage interest: −$18,989
• − Property taxes: −$5,085
• − Insurance: −$1,695
• − Repairs & maintenance: −$2,078
• − Management: −$2,078
• − Depreciation: −$9,862
• Taxable loss: −$13,813
• Est. tax savings @ 24.0%: +$3,315
• After-tax cash flow: $-4,279/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 — Royal Hawaiian Estates

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Royal Hawaiian Estates, HI
• Population (ZIP): 4,224

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 0.76)
• Race & ethnicity: White 46% Two or more races 39% Hispanic / Latino 16% Pacific Islander 5% Asian 5%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 4%
• Common ancestry: Russian 9% Lithuanian 4% Slovak 4%
• Foreign-born: 2%
• Languages at home: 89% English-only · Other Asian/Pacific 2% Spanish 1% Tagalog/Filipino 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: ▲ 0.66%
• Current HPI: 185.9474
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

-15.2% since first listed

10 events — show timeline

• 2026-06-22 Contingent — HI Information Service
• 2026-06-18 Price Changed $339,000 HI Information Service
• 2026-06-11 Price Changed $350,000 HI Information Service
• 2026-05-20 Price Changed $374,000 HI Information Service
• 2026-04-14 Listed $379,000 HI Information Service
• 2026-03-30 Listing Removed — HI Information Service
• 2026-03-03 Price Changed $349,000 HI Information Service
• 2026-02-04 Price Changed $375,000 HI Information Service
• 2026-01-04 Price Changed $385,000 HI Information Service
• 2025-12-16 Listed $400,000 HI Information Service