92-749 Kamaaina Blvd · Hawaiian Ocean View, HI 96737

$159,000

2 bd · 2.0 ba · 656 sqft · SingleFamily · 104 Days on market

Built 2015 Excellent condition 3.00 ac lot $242/sqft · 29% below area Est $224k · 29% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Appreciation +5.0/10.0
• Condition / age +4.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.4/5.0

Listing remarks MLS

This is Absolutely one of the Best Values on Hawai‘i Island! A Beautiful 3-acre property, located in the desirable Subdivision of Hawaiian Ocean View Ranchos with No CCR's!. Offering Tremendous Ocean and Coastline Views above Pohue Bay, which is a Pristine Clean Area that recently became part of the National Parks System. Green Sea Turtles Nest here and there is one of the Largest Ancient Petroglyph Fields in all of Polynesia here! The property is in immaculate condition, offered turnkey furnished. Move-in Ready with Everything you see in the photos included. There are two separate living areas, each are 256 sq ft with a Full Bathroom. Intelligently Designed for Privacy, Comfort and Relaxing. The main living area has a kitchen with a New Stove (Never Used), Microwave, Refrigerator and Freezer. A separate 144 sq ft studio/exercise room could easily be used as a gym, office, art studio or for guest overflow. Additional improvements include a tool shed, pump house, and storage areas with plenty of space for equipment and supplies. The property is completely off-grid, self-sustaining, powered by solar and wind energy and supported by a 6,000-gallon catchment water system. Enjoy the freedom of no CC & Rs and paved road access directly to the property. It's Conveniently located just 3 miles from the Ocean View Town Center, where you will find grocery stores, gas stations, a post office, restaurants, coffee shops, Ace Hardware and more. Major shopping is just an hour drive north when you need it. The Island of Hawai‘i is the largest of the Hawaiian Islands, spanning over 4,000 square miles of incredible Natural Beauty, offering endless opportunities to explore, with Green, Black and White Sand Beaches, A Volcano, Waterfalls, Forests, and Dramatic Coastlines. There are 2 International Airports on Island for easy Inter-Island, Mainland or International Travel! Come Take a Look and You'll Fall in Love!

Key facts

• Tool shed
• Pump house
• Detached studio

Tags

• DETACHED STUDIO
• TOOL SHED
• PUMP HOUSE
• STORAGE AREAS
• SELF-SUSTAINING
• OFF-GRID

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $159k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $652 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.2% in Hawaiian Ocean View — 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 48/100 on livability (#151 in HI) — a working-class tenant base; expect higher turnover. Watch: housing C-, health & safety C-, schools D.
• 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: 247 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 $6k of equity ($1k loan paydown + $5k appreciation (3.0% local appreciation)).
• Hawaii County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Recommended offer $144,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.39% ✓
• Cap rate: 11.21%
• Cash-on-cash: 17.58%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

• ARV (median comp): $223,731
• List price: $159,000
• Delta: -28.93%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 24.0%
• Equity multiple: 2.36×
• Total profit: $60,724
• Equity at exit: $71,493

10-year hold

• IRR: 24.9%
• Equity multiple: 4.55×
• Total profit: $158,030
• Equity at exit: $110,180

Cash invested: $44,520 (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 96737

• Active inventory: 247
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,216 medium
• Mortgage (P&I): −$834
• Tax est. 1.5%: −$199 /mo · $2,385/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $652

Break-even live

Break-even rent $1,391

Max offer price $159,000

Occupancy floor 66%

Sensitivity live

Price	-10% $762	-5% $707	+0% $652	+5% $597	+10% $542
Rent	-10% $477	-5% $565	+0% $652	+5% $740	+10% $827
Rate	-1.0pp $732	-0.5pp $693	base $652	+0.5pp $611	+1.0pp $569

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $159,000 Active 104 DOM
2. 2026-06-17
   days on market $159,000 Active 103 DOM
3. 2026-06-16
   days on market $159,000 Active 102 DOM
4. 2026-06-15
   days on market $159,000 Active 101 DOM
5. 2026-06-13
   days on market $159,000 Active 99 DOM
6. 2026-06-13
   days on market $159,000 Active 98 DOM
7. 2026-06-10
   days on market $159,000 Active 96 DOM
8. 2026-06-09
   days on market $159,000 Active 95 DOM
9. 2026-06-08
   days on market $159,000 Active 94 DOM
10. 2026-06-07
    days on market $159,000 Active 93 DOM
11. 2026-06-05
    pricedays on market $159,000 Active 90 DOM
12. 2026-06-03
    days on market $169,000 Active 89 DOM
13. 2026-06-02
    days on market $169,000 Active 88 DOM
14. 2026-06-01
    days on market $169,000 Active 87 DOM
15. 2026-05-31
    days on market $169,000 Active 86 DOM
16. 2026-03-06
    listed $169,000 Active 1942-char remark

    Show marketing remark (1942 chars)

    This is Absolutely one of the Best Values on Hawai‘i Island! A Beautiful 3-acre property, located in the desirable Subdivision of Hawaiian Ocean View Ranchos with No CCR's!. Offering Tremendous Ocean and Coastline Views above Pohue Bay, which is a Pristine Clean Area that recently became part of the National Parks System. Green Sea Turtles Nest here and there is one of the Largest Ancient Petroglyph Fields in all of Polynesia here! The property is in immaculate condition, offered turnkey furnished. Move-in Ready with Everything you see in the photos included. There are two separate living areas, each are 256 sq ft with a Full Bathroom. Intelligently Designed for Privacy, Comfort and Relaxing. The main living area has a kitchen with a New Stove (Never Used), Microwave, Refrigerator and Freezer. A separate 144 sq ft studio/exercise room could easily be used as a gym, office, art studio or for guest overflow. Additional improvements include a tool shed, pump house, and storage areas with plenty of space for equipment and supplies. The property is completely off-grid, self-sustaining, powered by solar and wind energy and supported by a 6,000-gallon catchment water system. Enjoy the freedom of no CC & Rs and paved road access directly to the property. It's Conveniently located just 3 miles from the Ocean View Town Center, where you will find grocery stores, gas stations, a post office, restaurants, coffee shops, Ace Hardware and more. Major shopping is just an hour drive north when you need it. The Island of Hawai‘i is the largest of the Hawaiian Islands, spanning over 4,000 square miles of incredible Natural Beauty, offering endless opportunities to explore, with Green, Black and White Sand Beaches, A Volcano, Waterfalls, Forests, and Dramatic Coastlines. There are 2 International Airports on Island for easy Inter-Island, Mainland or International Travel! Come Take a Look and You'll Fall in Love!

ⓘ 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: $26,597
• − Mortgage interest: −$8,906
• − Property taxes: −$2,385
• − Insurance: −$795
• − Repairs & maintenance: −$2,128
• − Management: −$2,128
• − Depreciation: −$4,625
• Taxable income: $5,630
• Est. tax owed @ 24.0%: −$1,351
• After-tax cash flow: $6,475/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

Excellent 95/100 None rehab

This property is move-in ready with excellent condition and a beautiful ocean view. It offers a great value with minimal maintenance required.

Value-add opportunities

• Both Landscaping and fencing — Enhances curb appeal and privacy
• Both Painting exterior — Maintains curb appeal and enhances value
• Both Landscaping and fencing — Enhances curb appeal and privacy

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and fencing — Enhances curb appeal and privacy ↑
• Both Painting exterior — Maintains curb appeal and enhances value ↑
• Both Landscaping and fencing — Enhances curb appeal and privacy ↑

ⓘ 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 — Hawaiian Ocean View

• Score: 48/100
• State rank: #151
• US rank: #26127

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hawaiian Ocean View, HI
• City population: 3,781
• Population (ZIP): 3,781

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 0.81)
• Race & ethnicity: Two or more races 42% White 39% Hispanic / Latino 16% Asian 6% Pacific Islander 6% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 10%
• Common ancestry: Portuguese 5% Scotch-Irish 4% Hispanic 4%
• Foreign-born: 6% · Canada
• Languages at home: 75% English-only · Other Asian/Pacific 10% Spanish 3% Russian/Polish/Slavic 2%

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: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: —
• F500 in state: 0

Price history

1 event — show timeline

• 2026-03-06 Listed $169,000 HI Information Service