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$5,688,000 Just Listed

  • For Sale
  • Active
  • Apartment
  • 17,868 Sq. Ft.
  • Hilo
  • Updated 4 days ago
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See This Home
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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!

Full Property Details for 230 Kapiolani St

General

  • Price: $5,688,000
  • Taxes: $8,748
  • Status: Active
  • Type: Apartment
  • Source: Honolulu_Board_Of_Realtors
  • MLS ID: 202613702
  • Updated: 7/17/2026
  • Added to Site: 6 day(s) ago

Rental Information

  • Complex Features: None, Other

Interior

  • Furnishings: Unfurnished

Parking

  • Total Spaces: 28
  • Parking Features: Assigned

Location

  • Area: S. Hilo
  • County: Hawaii
  • Subdivision: PONAHAWAI

School Information

  • Elementary School: Kapiolani
  • Middle School: Hilo
  • High School: Hilo

Utilities

  • Sewer: Connected
  • Water: Public
  • Utility Description: Above Ground Utilities, Electricity Available, Sewer Available, Water Available, Sewer Connected

Structural Information

  • Structure Type: Apartment
  • Detached/Attached: Detached
  • Construction: Masonry, Stucco, Wood Frame
  • Square Feet: 17,868
  • Year Built: 1973
  • Property Condition: Excellent, Good Condition

Lot Features

  • Property View: Coastline, City
  • Lot Size: 24573
  • Topography: Sloping
  • Lot Features: Cleared, Other
  • Zoning: Neighbor Island - See Remarks

Financial Considerations

  • Operating Expenses: $175,479
  • Assessment Amount: $1,520,800
  • Tax Amount: $8,748
  • Tenant Pays: None

Disclosures and Reports

  • Special Conditions: None
  • Disclosures/Reports: Call Agent
  • Disclosures/Rstr.: Call Agent
  • Property ID: 3-2-3-019-013-0000

Listed by Standard Management LLC

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Listing agent

— 230 Kapiolani St —

  • Standard Management LLC

(808) 208-8107

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 230 Kapiolani St

School District:Hawaii Department of Education
NameGradesDistance
Hilo Union Elementary School
506 Waianuenue Avenue, Hilo, HI 96720
PK-60.4 mi
Hilo Intermediate School
587 Waianuenue Avenue, Hilo, HI 96720
7-80.5 mi
Hilo High School
556 Waianuenue Avenue, Hilo, HI 96720
9-120.6 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 230 Kapiolani St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
7/15/2026
Listed
$5,688,000
103.14%
MLS
1/22/2007
Sold
$2,800,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 230 Kapiolani St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$8,785
—
$1,520,800
3%
2025
$8,785
3%
$1,476,500
3%
2023
$8,559
—
$1,433,500
3%
2023
$8,559
3%
$1,391,700
3%
2022
$8,310
3%
$1,351,200
3%
2021
$8,068
-8%
$1,311,800
-8%
2020
$8,729
-2%
$1,419,400
-2%
2018
$8,930
2%
$1,452,000
2%
2019
$8,729
-3%
$1,419,400
-3%
2017
$8,997
1%
$1,463,000
1%
2016
$8,932
2%
$1,452,400
-1%
2015
$8,798
—
$1,459,800
2%
2013
$8,771
—
$1,426,100
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Listed by Standard Management LLC

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230 Kapiolani Street, Hilo, HI 96720 (MLS# 202613702) is a Apartment property with 0 bedrooms and 0 full bathrooms. 230 Kapiolani Street is currently listed for $5,688,000 and was received on July 15, 2026. Want to learn more about 230 Kapiolani Street? Do you have questions about finding other Apartment real estate for sale in Hilo? You can browse all Hilo real estate or contact a Coldwell Banker agent to request more information.

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