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$5,688,000
202613702 MLS ⋅ FS - Fee Simple Tenure ⋅ 23 DOM
This exceptional property offers 24 fully renovated apartment units — twenty-one 2-bedroom and three 3-bedroom units — in the heart of Hilo. The building underwent a comprehensive $952,000 gut renovation in 2025, inside every unit, including new luxury vinyl plank flooring, new high-end cabinets, granite countertops, sinks and faucets, all new stainless steel refrigerators, stoves and range hoods, updated bathrooms with new vanities and lighting, new ceiling fans in all bedrooms and living rooms, and fresh interior paint throughout. The property is 100% leased with professional management in place and includes 28 on-site parking stalls. Located in downtown Hilo — the county seat and regional hub for UH Hilo, healthcare, and government employment — supporting deep, stable rental demand. A recent condo conversion at a comparable Hilo building validates an embedded condo-conversion exit as additional upside. This is a trophy, renovated asset in a submarket where fully stabilized investment properties are rarely available for sale and is truly "turnkey" for a buyer. 5.5% cap rate on stabilized income!

230 Kapiolani Street, Hilo
$200,000
3 Beds ⋅ 2 Baths ⋅ 202606069 MLS ⋅ LH - Leasehold Tenure ⋅ 138 DOM
This is a Hawaiian Homestead DHHL Land and must qualify for DHHL Homestead. Must be Native Hawaiian to purchase. Located in the heart of Keaukaha, this Hawaiian Homestead property is truly a hidden gem. Known for its strongsense of community and close proximity to the ocean, Keaukaha is one of Hilo’s most special and sought-afterneighborhoods. Just minutes from the beach and only 15 minutes to downtown Hilo, the location offers the best ofisland living. This 3-bedroom, 2-bathroom home offers a generous layout with plenty of room to grow. While thecondition is below average and will require renovation, it's a great opportunity for someone looking to restore orreimagine a property in a prime location. With some vision and effort, this could be your perfect slice of Keaukahaparadise. Buyer must be on the Hawaiian Homes List with the Department of Hawaiian Homelands.

236 Lyman Avenue, Hilo
$100,000
202604445 MLS ⋅ FS - Fee Simple Tenure ⋅ 167 DOM
This breathtaking half-acre corner lot is untouched and ready for your vision, ideally located just off Kilauea Avenue. Surrounded by lush native forest and cool mountain air, this property offers privacy, beauty, and the rare opportunity to create something truly special in one of Hawai‘i’s most unique communities. Nestled in a quaint village filled with charm, Volcano offers farmers markets, local art, quality restaurants, and a vibrant creative spirit centered around the Volcano Art Center. Just down the road, you’ll find the world-renowned Hawai?i Volcanoes National Park, where adventure, hiking trails, and awe-inspiring volcanic landscapes await. If you’ve been dreaming of cool misty mornings, towering ?ohi?a trees, and a peaceful lifestyle surrounded by natural wonder, this is your invitation. Come live in Volcano, Hawai‘i — where nature, art, and community meet.

19-3140 Mamaki Lane, Hilo

Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2026 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.