4999 Kahala Ave #101 · East Honolulu, HI 96816

$275,000

3 bd · 2.0 ba · 2,040 sqft · Condo public records · 148 Days on market

Built 1966 $135/sqft · 66% above area $1828/mo HOA · 30% of rent ↓ 8% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Rent growth +4.8/5.0
• Livability +4.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Kahala luxury living in this highly upgraded, single-level ground floor residence with over 2,000sf. This renovated 3 bedroom, 2 bath home is located in sought after oceanfront Kahala Beach condominium just steps from The Kahala Hotel & Resort and Waialae Country Club. Spacious interiors and mountain views. Features include hardwood flooring, a large galley kitchen with granite countertops and custom cabinetry, and elegant baths with backlit onyx countertops, travertine flooring, Toto toilets and premium fixtures. Wine enthusiasts will love the 6 integrated wine vaults with 400-500 bottle capacity. Additional highlights include custom built-in Chinese elm panels for storage, custom window coverings, and Baldwin hardware, reflecting thoughtful design and exceptional craftsmanship. A beautiful sandy beach fronts the building; amenities include a heated pool, exercise room and security. This is a leasehold property. Your opportunity for an unparalleled lifestyle!

Key facts

• Custom cabinetry
• Travertine flooring
• Large galley kitchen

Tags

• OCEANFRONT KAHALA BEACH
• LARGE GALLEY KITCHEN
• GRANITE COUNTERTOPS
• CUSTOM CABINETRY
• BACKLIT ONYX COUNTERTOPS
• TRAVERTINE FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $275k.

Deal economics

• At list price, monthly cash flow is $735 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $275k).
• Recommended offer: $242k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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.
• Market conditions: Rents rising fast (+9.2%/yr); 90 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 1,638 units permitted in Honolulu County in 2024 (793 in 5+ unit buildings).
• At $6,190/mo this rent would consume 65% of the median local household income ($115k/yr) (locally 1834% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Honolulu County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $77k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 148 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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 $150k; list at $275k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 30% of rent.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $242,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 148 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 1966 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 2.25% ✓
• Cap rate: 11.36%
• Cash-on-cash: 18.11%
• DSCR: 1.81
• GRM: 3.7

CMA / ARV

• ARV (median comp): $165,313
• List price: $275,000
• Delta: 66.35%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.47×
• Total profit: $36,465
• Equity at exit: $41,003

10-year hold

• IRR: 25.8%
• Equity multiple: 4.21×
• Total profit: $246,963
• Equity at exit: $23,777

Cash invested: $77,000 (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 96816

• Rents YoY: 9.2%
• Active inventory: 90
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $6,190 high
• Mortgage (P&I): −$1,442
• Tax est. 1.5%: −$344 /mo · $4,125/yr
• Insurance: −$115
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$1,828
• Vacancy / Maint / Mgmt: −$1,300
• Net cashflow: $735

Break-even live

Break-even rent $5,259

Max offer price $275,000

Occupancy floor 83%

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4999 Kahala Ave #148 Honolulu, HI	2.0	2.0	1555	$6,000	$3.86	44d	1	0.03mi
4999 Kahala Ave #350 Honolulu, HI	2.0	2.0	1555	$9,000	$5.79	17d	1	0.03mi
4999 Kahala Ave #471 Honolulu, HI	2.0	2.0	1555	$4,500	$2.89	44d	1	0.03mi
4999 Kahala Ave #141 Honolulu, HI	3.0	2.0	1830	$8,000	$4.37	44d	1	0.03mi
4999 Kahala Ave #450 Honolulu, HI	2.0	2.0	1555	$7,500	$4.82	44d	1	0.03mi
4999 Kahala Ave #446 Honolulu, HI	2.0	2.0	1555	$7,000	$4.50	44d	1	0.03mi
4999 Kahala Ave #407 Honolulu, HI	2.0	1.0	1465	$4,500	$3.07	44d	1	0.03mi
4584 Kahala Ave Honolulu, HI	4.0	3.5	2079	$22,500	$10.82	44d	1	0.79mi
1420 Pueo St Honolulu, HI	2.0	2.0	1628	$6,500	$3.99	44d	1	0.87mi
813 Hunakai St Honolulu, HI	4.0	3.0	2313	$6,950	$3.00	44d	1	0.87mi
4526 Aukai Ave Honolulu, HI	3.0	2.0	2600	$9,000	$3.46	44d	1	0.92mi
1548 Halekoa Dr Honolulu, HI	4.0	2.5	2144	$7,000	$3.26	44d	1	0.94mi
4515 Aukai Ave Honolulu, HI	4.0	3.5	2355	$15,000	$6.37	44d	1	0.95mi
668 Elepaio St Honolulu, HI	3.0	2.0	2515	$7,000	$2.78	10d	1	1.08mi
1487 Hiikala Pl #39 Honolulu, HI	4.0	2.5	1802	$5,500	$3.05	44d	1	1.16mi
1487 Hiikala Pl #26 Honolulu, HI	4.0	2.5	1802	$5,500	$3.05	16d	1	1.16mi
1864 Alaweo St Honolulu, HI	4.0	4.0	2573	$5,900	$2.29	44d	1	1.24mi

HOA detail condo

• Monthly dues: $1,828 · $21,936/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $275,000 Active 148 DOM
2. 2026-06-17
   days on market $275,000 Active 147 DOM
3. 2026-06-16
   days on market $275,000 Active 146 DOM
4. 2026-06-15
   days on market $275,000 Active 145 DOM
5. 2026-06-13
   days on market $275,000 Active 143 DOM
6. 2026-06-13
   days on market $275,000 Active 142 DOM
7. 2026-06-10
   days on market $275,000 Active 140 DOM
8. 2026-06-09
   days on market $275,000 Active 139 DOM
9. 2026-06-08
   days on market $275,000 Active 138 DOM
10. 2026-06-07
    days on market $275,000 Active 137 DOM
11. 2026-06-05
    days on market $275,000 Active 134 DOM
12. 2026-06-03
    days on market $275,000 Active 133 DOM
13. 2026-06-02
    days on market $275,000 Active 132 DOM
14. 2026-06-01
    days on market $275,000 Active 131 DOM
15. 2026-05-31
    days on market $275,000 Active 130 DOM
16. 2026-01-21
    listed $275,000 Active 980-char remark

    Show marketing remark (980 chars)

    Kahala luxury living in this highly upgraded, single-level ground floor residence with over 2,000sf. This renovated 3 bedroom, 2 bath home is located in sought after oceanfront Kahala Beach condominium just steps from The Kahala Hotel & Resort and Waialae Country Club. Spacious interiors and mountain views. Features include hardwood flooring, a large galley kitchen with granite countertops and custom cabinetry, and elegant baths with backlit onyx countertops, travertine flooring, Toto toilets and premium fixtures. Wine enthusiasts will love the 6 integrated wine vaults with 400-500 bottle capacity. Additional highlights include custom built-in Chinese elm panels for storage, custom window coverings, and Baldwin hardware, reflecting thoughtful design and exceptional craftsmanship. A beautiful sandy beach fronts the building; amenities include a heated pool, exercise room and security. This is a leasehold property. Your opportunity for an unparalleled lifestyle!

17. 2010-04-05
    soldstatus $150,000 320-char remark

    Show marketing remark (320 chars)

    Beautiful Spacious home in one of the most sought after locations in Kahala. Beachfront building. Unit faces golfcourse. Highly upgraded, designer kitchen, hardwood and stone floors, high ceilings, elegant living. Ground floor w/no elevator hassle. Ample guest parking.This is a LEASEHOLD building. Priced to sell today!

18. 2010-04-05
    soldstatus $150,000

    Show marketing remark (320 chars)

    Beautiful Spacious home in one of the most sought after locations in Kahala. Beachfront building. Unit faces golfcourse. Highly upgraded, designer kitchen, hardwood and stone floors, high ceilings, elegant living. Ground floor w/no elevator hassle. Ample guest parking.This is a LEASEHOLD building. Priced to sell today!

19. 2010-01-22
    listed $199,000 320-char remark

    Show marketing remark (320 chars)

    Beautiful Spacious home in one of the most sought after locations in Kahala. Beachfront building. Unit faces golfcourse. Highly upgraded, designer kitchen, hardwood and stone floors, high ceilings, elegant living. Ground floor w/no elevator hassle. Ample guest parking.This is a LEASEHOLD building. Priced to sell today!

20. 2010-01-08
    historical
21. 2009-01-08
    listed $299,000
22. 2009-01-08
    historical
23. 2008-01-08
    listed $324,000
24. 2007-06-21
    soldstatus $404,791
25. 2007-02-16
    soldstatus $355,000
26. 2007-02-16
    soldstatus $355,000
27. 2006-08-21
    listed $499,000
28. 2006-01-13
    historical
29. 2005-05-02
    listed $950,000
30. 2005-05-01
    historical
31. 2004-10-30
    listed $950,000
32. 1999-03-01
    soldstatus $170,000
33. 1992-03-16
    soldstatus $400,000
34. 1989-05-16
    soldstatus $800,000
35. 1987-10-01
    soldstatus $607,000
36. 1987-07-08
    soldstatus $595,000
37. 1987-07-01
    soldstatus $297,500

ⓘ 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 6/10 Major FEMA zone AE · 91% chance over 30 yrs
• 🫁 Air quality 1/10 Low

Taxation est. · year 1

• Rental income: $74,284
• − Mortgage interest: −$15,404
• − Property taxes: −$4,125
• − Insurance: −$6,494
• − Repairs & maintenance: −$5,943
• − Management: −$5,943
• − HOA: −$21,936
• − Depreciation: −$8,000
• Taxable income: $6,439
• Est. tax owed @ 24.0%: −$1,545
• After-tax cash flow: $7,279/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)

No district data.

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): 50,883
• Household income: $114,609
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1834.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Asian 52% Two or more races 19% White 18% Pacific Islander 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Russian 1% Lithuanian 1% Romanian 1%
• Foreign-born: 18% · China, Vietnam, Canada
• Languages at home: 75% English-only · Other Asian/Pacific 10% Chinese 7% Vietnamese 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: ▼ -454.66%
• Current HPI: 315.0847
• Rent YoY: ▲ 9.23%
• Metro: Urban Honolulu, HI
• State GDP YoY: —
• F500 in state: 0

Price history

-7.6% since first listed

22 events — show timeline

• 2026-01-21 Listed $275,000 HiCentral MLS
• 2010-04-05 Sold (Public Records) $150,000 Public Records
• 2010-04-05 Sold (MLS) $150,000 HiCentral MLS
• 2010-01-22 Listed $199,000 HiCentral MLS
• 2010-01-08 Listing Removed — HiCentral MLS
• 2009-01-08 Listing Removed — HiCentral MLS
• 2009-01-08 Listed $299,000 HiCentral MLS
• 2008-01-08 Listed $324,000 HiCentral MLS
• 2007-06-21 Sold (Public Records) $404,791 Public Records
• 2007-02-16 Sold (Public Records) $355,000 Public Records
• 2007-02-16 Sold (MLS) $355,000 HiCentral MLS
• 2006-08-21 Listed $499,000 HiCentral MLS
• 2006-01-13 Listing Removed — HiCentral MLS
• 2005-05-02 Listed $950,000 HiCentral MLS
• 2005-05-01 Listing Removed — HiCentral MLS
• 2004-10-30 Listed $950,000 HiCentral MLS
• 1999-03-01 Sold (Public Records) $170,000 Public Records
• 1992-03-16 Sold (Public Records) $400,000 Public Records
• 1989-05-16 Sold (Public Records) $800,000 Public Records
• 1987-10-01 Sold (Public Records) $607,000 Public Records
• 1987-07-08 Sold (Public Records) $595,000 Public Records
• 1987-07-01 Sold (Public Records) $297,500 Public Records

Property tax history

+5.3%/yr

Latest (2022): $13,964 · +51.4% YoY. Source: county tax records.