501 Hahaione St Unit 1/19J · East Honolulu, HI 96825

$179,000

2 bd · 2.0 ba · 1,303 sqft · Condo public records · 206 Days on market

Built 1975 $137/sqft · 71% below area $1344/mo HOA · 36% of rent

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Why this score? — see what drove the B- 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 +27.1/30.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Schools +3.7/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unit was partially remodeled by licensed contractor and board approved - new flooring and bathroom countertops. Great ocean and mountain views. Enjoy abundant natural light and refreshing breezes in this 19th-floor ocean-view condo. Featuring 2 bedrooms, 2 bathrooms, and 2 parking stalls ( one covered extra large stall). The building offers resort-style amenities, including multiple swimming pools, a heated pool, an exercise room, putting green, a recreation area and room, a resident manager, a sauna, 24-hour security, trash chutes, walking/jogging paths, and a whirlpool. The seller is motivated and open to offers. This opportunity may be ideal for someone planning to live in Hawaii temporarily over the next several years, or who have family members attending school here. Please note that the 7 year leasehold interest is not renewable.

Key facts

• Exercise room
• Waterproof flooring
• Natural light

Tags

• WATERPROOF FLOORING
• NATURAL LIGHT
• RESORT-STYLE AMENITIES
• MULTIPLE SWIMMING POOLS
• HEATED POOL
• EXERCISE ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $179k.

Deal economics

• At list price, monthly cash flow is $507 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 1.5% in East 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 88/100 on livability (#1 in HI, #227 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living 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: Rents rising (+1.9%/yr); 146 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $1k of loan paydown is wiped out by about $5k 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 206 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $155k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 206 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.09% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.14%
• DSCR: 1.54
• GRM: 4.0

CMA / ARV

• ARV (median comp): $620,271
• List price: $179,000
• Delta: -71.14%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.88% rent growth · sell at horizon

5-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-72
• Equity at exit: $26,689

10-year hold

• IRR: 7.9%
• Equity multiple: 1.56×
• Total profit: $28,046
• Equity at exit: $15,477

Cash invested: $50,120 (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 96825

• Rents YoY: 1.9%
• Active inventory: 146
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $3,748 high
• Mortgage (P&I): −$939
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$75
• HOA: −$1,344
• Vacancy / Maint / Mgmt: −$787
• Net cashflow: $507

Break-even live

Break-even rent $3,106

Max offer price $179,000

Occupancy floor 81%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521 Hahaione St Unit 2/8D Honolulu, HI	2.0	2.0	1250	$3,795	$3.04	44d	1	0.01mi
531 Hahaione St Unit 2/20A Honolulu, HI	2.0	2.0	1410	$5,000	$3.55	17d	1	0.01mi
531 Hahaione St Apt 9A Honolulu, HI	2.0	2.0	1353	$2,700	$2.00	44d	1	0.01mi
501 Hahaione St Unit 4L Honolulu, HI	2.0	2.0	1302	$4,250	$3.26	23d	1	0.02mi
511 Hahaione St Honolulu, HI	2.0	1.5	1211	$3,300	$2.73	17d	1	0.07mi
6710 Hawaii Kai Dr #402 Honolulu, HI	2.0	2.0	935	$3,150	$3.37	3d	1	0.07mi
6750 Hawaii Kai Dr #1004 Honolulu, HI	2.0	2.0	1238	$3,900	$3.15	2d	1	0.11mi
6750 Hawaii Kai Dr Honolulu, HI	2.0	2.0	1238	$3,550	$2.87	3d	2	0.11mi
555 Hahaione St Unit B100 Honolulu, HI	1.0	1.0	1081	$2,600	$2.41	12d	1	0.13mi
555 Hahaione St Unit 5C Honolulu, HI	2.0	2.0	1238	$3,995	$3.23	44d	1	0.13mi
6770 Hawaii Kai Dr Honolulu, HI	2.0	2.0	1328	$3,750	$2.82	11d	2	0.16mi
6770 Hawaii Kai Dr Honolulu, HI	2.0	2.0	1328	$3,675	$2.77	2d	3	0.16mi
6770 Hawaii Kai Dr #602 Honolulu, HI	2.0	2.0	1626	$3,850	$2.37	23d	1	0.17mi
7142 Hawaii Kai Dr #155 Honolulu, HI	2.0	2.0	950	$3,250	$3.42	17d	1	0.42mi
7000 Hawaii Kai Dr Honolulu, HI	1.0–2.0	2.0	935	$4,000	$4.28	44d	2	0.45mi
7000 Hawaii Kai Dr Honolulu, HI	2.0	2.0	1145	$4,000	$3.49	23d	1	0.48mi
7200 Hawaii Kai Dr #263 Honolulu, HI	2.0	2.0	947	$3,975	$4.20	23d	1	0.54mi
1 Keahole Pl #1403 Honolulu, HI	2.0	2.0	1692	$3,500	$2.07	14d	1	0.57mi
280 Opihikao Way #681 Honolulu, HI	3.0	2.0	1625	$5,200	$3.20	21d	1	0.58mi
6266 Keokea Pl Unit A Honolulu, HI	2.0	2.0	1140	$5,450	$4.78	44d	1	0.68mi
520 Lunalilo Home Rd #7320 Honolulu, HI	3.0	2.0	1457	$4,500	$3.09	3d	1	0.72mi
520 Lunalilo Home Rd #6305 Honolulu, HI	2.0	2.0	1345	$4,200	$3.12	12d	1	0.72mi
520 Lunalilo Home Rd #318 Honolulu, HI	3.0	2.5	1464	$6,500	$4.44	44d	1	0.72mi
520 Lunalilo Home Rd #8316 Honolulu, HI	3.0	2.0	1457	$4,400	$3.02	10d	1	0.72mi
520 Lunalilo Home Rd #6305 Honolulu, HI	2.0	2.0	1345	$4,200	$3.12	3d	1	0.72mi
500 Lunalilo Home Rd Unit 12D Honolulu, HI	2.0	2.0	1083	$4,000	$3.69	3d	1	0.82mi
214 Koko Isle Cir #1707 Honolulu, HI	3.0	2.0	1400	$4,500	$3.21	3d	1	0.83mi
123 Koko Isle Cir #3302 Honolulu, HI	3.0	2.5	1400	$5,200	$3.71	44d	1	0.83mi
716 Kapaia St Honolulu, HI	3.0	1.5	1068	$3,600	$3.37	3d	1	1.09mi
541 Kuliouou Rd Unit 1 Honolulu, HI	3.0	2.0	1500	$3,850	$2.57	17d	1	1.16mi

HOA detail condo

• Monthly dues: $1,344 · $16,128/yr
• Likely covers: trashpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $179,000 Active 206 DOM
2. 2026-06-17
   days on market $179,000 Active 205 DOM
3. 2026-06-15
   days on market $179,000 Active 203 DOM
4. 2026-06-13
   days on market $179,000 Active 201 DOM
5. 2026-06-13
   days on market $179,000 Active 200 DOM
6. 2026-06-10
   days on market $179,000 Active 198 DOM
7. 2026-06-09
   days on market $179,000 Active 197 DOM
8. 2026-06-08
   days on market $179,000 Active 196 DOM
9. 2026-06-07
   days on market $179,000 Active 195 DOM
10. 2026-06-05
    days on market $179,000 Active 192 DOM
11. 2026-06-03
    days on market $179,000 Active 191 DOM
12. 2026-06-02
    days on market $179,000 Active 190 DOM
13. 2026-06-01
    days on market $179,000 Active 189 DOM
14. 2026-05-31
    days on market $179,000 Active 188 DOM
15. 2025-11-24
    listed $179,000 Active 847-char remark

    Show marketing remark (847 chars)

    Unit was partially remodeled by licensed contractor and board approved - new flooring and bathroom countertops. Great ocean and mountain views. Enjoy abundant natural light and refreshing breezes in this 19th-floor ocean-view condo. Featuring 2 bedrooms, 2 bathrooms, and 2 parking stalls ( one covered extra large stall). The building offers resort-style amenities, including multiple swimming pools, a heated pool, an exercise room, putting green, a recreation area and room, a resident manager, a sauna, 24-hour security, trash chutes, walking/jogging paths, and a whirlpool. The seller is motivated and open to offers. This opportunity may be ideal for someone planning to live in Hawaii temporarily over the next several years, or who have family members attending school here. Please note that the 7 year leasehold interest is not renewable.

16. 2025-11-13
    historical
17. 2025-04-14
    price $150,000
18. 2025-01-08
    price $179,000
19. 2024-11-14
    listed $260,000 Active
20. 2022-02-18
    soldstatus $155,375 Sold
21. 2022-01-21
    status Pending
22. 2021-11-09
    listed $168,000 Active
23. 2013-10-17
    soldstatus $199,000
24. 1978-08-01
    soldstatus $99,000
25. 1976-07-01
    soldstatus $85,800

ⓘ 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: $1,156 · $96/mo
• Projected year-2 tax: $1,156 · $96/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 1/10 Low FEMA zone D · 0% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $44,975
• − Mortgage interest: −$10,027
• − Property taxes: −$1,156
• − Insurance: −$895
• − Repairs & maintenance: −$3,598
• − Management: −$3,598
• − HOA: −$16,128
• − Depreciation: −$5,207
• Taxable income: $4,366
• Est. tax owed @ 24.0%: −$1,048
• After-tax cash flow: $5,039/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 — East Honolulu

• Score: 88/100
• State rank: #1
• US rank: #227

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: East Honolulu, HI
• County: Honolulu County · 963,448 people
• City population: 50,735
• Metro: Urban Honolulu, HI
• Population (ZIP): 30,913
• Household income: $153,210
• Rent vs Own: 16.8% rent · 83.2% own
• Severe rent burden: 606.0

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 0.76)
• Race & ethnicity: Asian 41% Two or more races 26% White 26% Hispanic / Latino 7% Pacific Islander 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Russian 3% Romanian 1% Lithuanian 1%
• Foreign-born: 15% · China, Canada, South Korea
• Languages at home: 81% English-only · Other Asian/Pacific 8% Chinese 3% Spanish 2%

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: ▼ -624.63%
• Current HPI: 309.5506
• Rent YoY: ▲ 1.88%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

+108.6% since first listed

11 events — show timeline

• 2025-11-24 Listed $179,000 HiCentral MLS
• 2025-11-13 Listing Removed — HiCentral MLS
• 2025-04-14 Price Changed $150,000 HiCentral MLS
• 2025-01-08 Price Changed $179,000 HiCentral MLS
• 2024-11-14 Listed $260,000 HiCentral MLS
• 2022-02-18 Sold (MLS) $155,375 HiCentral MLS
• 2022-01-21 Pending — HiCentral MLS
• 2021-11-09 Listed $168,000 HiCentral MLS
• 2013-10-17 Sold (Public Records) $199,000 Public Records
• 1978-08-01 Sold (Public Records) $99,000 Public Records
• 1976-07-01 Sold (Public Records) $85,800 Public Records

Property tax history

-4.1%/yr

Latest (2022): $1,156 · -46.0% YoY. Source: county tax records.