Hawaii Living

703 Kihapai Pl (Kalama Tract & Coconut Grove)

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703 Kihapai Pl, Kailua
Inquire / Showing / Video Tour
Call/Text Tracy (808) 372-2274 or use contact form.
Tracy Yamato

Tracy Yamato

Certified Residential Specialist
Realtor, RS-51972

Mobile: (808) 372-2274

Email: Tracy@HawaiiLiving.com

"Let my over 30 years of experience work for you."
Client Testimonials
We are expert real estate agents who have sold many homes in Kalama Tract & Coconut Grove. We would be happy to assist you too.
Description
A2 zoned 6,000sq ft lot with two duplexes (4 units total, current total rental income $8,675 per month) just a few blocks away from Kailua town. Beautiful mountain views and Maunawilli stream frontage. Walking distance to shops and restaurants, easy access to the Pali Highway. Each unit is a 2bed/ 1bath. 4 electric meters, recently applied for permitting to upgrade all 4 electric meters to 100amp each. One water meter, recently upgraded all water supply lines to copper. The average rent per unit currently is approx $2,169/month. Some rents are below market value. Great tenants, all of them currently are on month-to-month leases and would love to stay. Current monthly expenses: $400 water, $75 yard service, $179 insurance. GE tax $390, property tax $436 per month. Zoning allows for a wide variety of development ideas with one of the lowest tax rates available in Hawaii. Sellers might do 1031 Exchange. Listor is a licensed real estate broker and one of the owners. Multiple tenants, please allow enough time to arrange it when scheduling a showing. Proof of funds/ pre-approval is requested before showing. Please do not disturb the tenants. Also listed in Multi Family MLS#202421887.
Recent Activity
  • Oct 11, 2024 Listed at $1,939,000
  • Jun 12, 2024 Off Market
  • Feb 28, 2024 Listed at $2,050,000
  • Feb 02, 2022 Sold for $1,490,000
  • Dec 14, 2021 Under Contract
  • Nov 09, 2021 Back to Active
  • Nov 01, 2021 Under Contract
  • Sep 20, 2021 Listed at $1,490,000
  • Jul 09, 2021 Off Market
  • Nov 17, 2020 Listed at $3,200,000
  • Apr 30, 2019 Off Market
  • Feb 04, 2019 Price $3,080,000
  • Dec 19, 2018 Back to Active
  • Nov 23, 2018 Under Contract
  • Nov 15, 2018 Price $3,200,000
  • Nov 15, 2018 Listed at $3,400,000
  • May 22, 2017 Sold for $900,000
  • Mar 21, 2017 Under Contract
  • Mar 18, 2017 Listed at $900,000
Past Sales
Blog
More Details
  • Owner, Tax & Resale History
  • Price / ft²: $932
  • Year Remodeled: 1990
  • Zoning: 12 - A-2 Medium Density Apartme
  • Flood Zone: Zone AH
  • View: Mountain, Other
  • Furnished: None
  • Property Condition: Above Average,Average
  • Security Features: Key
  • TMK: 1-4-3-58-40-0
  • Tax Assessed Land: $1,312,000
  • Tax Assessed Improvements: $183,100
  • Tax Assessed Total: $1,495,100
  • Courtesy: Town and Country Real Estate / (808) 389-4004
  • MLS: 202421899
Ask Tracy a Question
Good to Know
See this aerial video of Coconut Grove and Kalama Tract homes.

For whatever reason the Hawaii real estate world often lumps these areas together, often putting them under the joint category of Coconut Grove/Kalama Tract. They shouldn't. These are very different neighborhoods. They may be next door each other, but these neighbors are easy to tell apart.

Coconut Grove is the more mauka area, one that begins roughly on the mauka side of Maluniu Ave, ending firmly at the preserved Kawainui Regional Park.

The Homes of Coconut Grove
This is one of the most affordable Kailua neighborhoods,   .....
Read more.
The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on December 24, 2024.Information is deemed reliable but not guaranteed.
Other Kalama Tract & Coconut Grove Homes
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$1,950,000
763 Kaipii St
4 Bds | 2 Ba
1,268 ft²
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$1,900,000
609 Olomana St
8 Bds | 8 Ba
2,960 ft²
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$1,895,000
723 Kahoa Dr
5 Bds | 3 Ba
2,016 ft²
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$2,340,000
174 Hauoli St
4 Bds | 2 Ba
1,513 ft²
Other Hawaii Homes
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$1,945,000
2445 Piiholo Rd
1 Bd | 2 Ba
2,160 ft²
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$1,945,000
73-1238 HAMO ST
3 Bds | 2.5 Ba
2,492 ft²
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$1,945,000
31 Waikalani Hema Pl
3 Bds | 3 Ba
1,818 ft²
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$1,949,000
2255 Lilikoi Rd
3 Bds | 2 Ba
997 ft²
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$1,949,000
63 Puakea Pl
3 Bds | 2 Ba
1,938 ft²
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$1,950,000
221 Mahie Pl
3 Bds | 3 Ba
2,000 ft²
  • Asking Price: $1,939,000
Description
A2 zoned 6,000sq ft lot with two duplexes (4 units total, current total rental income $8,675 per month) just a few blocks away from Kailua town. Beautiful mountain views and Maunawilli stream frontage. Walking distance to shops and restaurants, easy access to the Pali Highway. Each unit is a 2bed/ 1bath. 4 electric meters, recently applied for permitting to upgrade all 4 electric meters to 100amp each. One water meter, recently upgraded all water supply lines to copper. The average rent per unit currently is approx $2,169/month. Some rents are below market value. Great tenants, all of them currently are on month-to-month leases and would love to stay. Current monthly expenses: $400 water, $75 yard service, $179 insurance. GE tax $390, property tax $436 per month. Zoning allows for a wide variety of development ideas with one of the lowest tax rates available in Hawaii. Sellers might do 1031 Exchange. Listor is a licensed real estate broker and one of the owners. Multiple tenants, please allow enough time to arrange it when scheduling a showing. Proof of funds/ pre-approval is requested before showing. Please do not disturb the tenants. Also listed in Multi Family MLS#202421887.
    The MLS properties are based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on December 24, 2024.Information is deemed reliable but not guaranteed.
    • Oct 11, 2024 Listed at $1,939,000
    • Jun 12, 2024 Off Market
    • Feb 28, 2024 Listed at $2,050,000
    • Feb 02, 2022 Sold for $1,490,000
    • Dec 14, 2021 Under Contract
    • Nov 09, 2021 Back to Active
    • Nov 01, 2021 Under Contract
    • Sep 20, 2021 Listed at $1,490,000
    • Jul 09, 2021 Off Market
    • Nov 17, 2020 Listed at $3,200,000
    • Apr 30, 2019 Off Market
    • Feb 04, 2019 Price $3,080,000
    • Dec 19, 2018 Back to Active
    • Nov 23, 2018 Under Contract
    • Nov 15, 2018 Price $3,200,000
    • Nov 15, 2018 Listed at $3,400,000
    • May 22, 2017 Sold for $900,000
    • Mar 21, 2017 Under Contract
    • Mar 18, 2017 Listed at $900,000
    See this aerial video of Coconut Grove and Kalama Tract homes.

    For whatever reason the Hawaii real estate world often lumps these areas together, often putting them under the joint category of Coconut Grove/Kalama Tract. They shouldn't. These are very different neighborhoods. They may be next door each other, but these neighbors are easy to tell apart.

    Coconut Grove is the more mauka area, one that begins roughly on the mauka side of Maluniu Ave, ending firmly at the preserved Kawainui Regional Park.

    The Homes of Coconut Grove
    This is one of the most affordable Kailua neighborhoods,   .....
    Read more.
    Other Kalama Tract & Coconut Grove Homes
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    $1,950,000
    763 Kaipii St
    4 Bds | 2 Ba
    1,268 ft²
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    $1,900,000
    609 Olomana St
    8 Bds | 8 Ba
    2,960 ft²
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    $1,895,000
    723 Kahoa Dr
    5 Bds | 3 Ba
    2,016 ft²
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    $2,340,000
    174 Hauoli St
    4 Bds | 2 Ba
    1,513 ft²
    You do not own the land, but have the right to use the land until an expiration year. At expiration the ownership typically reverts back to the land owner.
    Buyer and Seller have reached an agreement and are under contract. However, the sale is still subject to one or more contingencies.
    We have handled many transactions for clients who purchase Hawaii real estate without visiting. By request, we can prepare thorough property videos to ensure you are familiar with every detail necessary. All documents can be signed remotely.
    Buyer and Seller have reached an agreement and are under contract. The sale is expected to close / record soon.
    We will be happy to work with you as a Buyer's agent. Call us to learn more: 808-943-9000.
    Note: A Seller's agent has a fiduciary responsibility towards the Seller. Working with a Buyer's agent objectives and goals are aligned, at no cost to you, the Buyer.
    Other fees could be a special assessment, reserve contributions etc.
    DOM = Days On Market. Our site shows listings immediately. A brand new listing may show DOM 2 or 3 days, if listing agent did not upload the same day listing agreement was executed.
    Includes estimated monthly mortgage payment, maintenance / HOA fees & property taxes. The estimate does not include insurance premiums.
    Learn about property tax rates.