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$5,688,000
202613702 MLS ⋅ FS - Fee Simple Tenure
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

Listing courtesy of Standard Management LLC.

$649,000
3 Beds ⋅ 3 Baths ⋅ 202612677 MLS ⋅ FS - Fee Simple Tenure
Sitting on a rare 1.32-acre, fully fenced parcel in one of the most desirable pockets of Hawaiian Paradise Park, this custom-built home stands out. Buyers familiar with this area know how uncommon it is to find new construction where the grass has already taken hold, neighboring homes reflect pride of ownership, and the setting feels established. Inside, luxury vinyl flooring flows throughout the main living spaces, while marble tile elevates every bathroom. The kitchen features an oversized island, white quartz countertops, soft-close cabinetry, and abundant storage. The attached 2-car garage offers additional storage and opens into the laundry room with a utility sink and adjacent full bath, making cleanup after the beach, yard work, or weekend projects easy. The primary suite features a large walk-in closet and spacious ensuite with a walk-in shower. Both front and rear lanais are fully screened, creating additional living spaces to relax without being bothered by bugs. Anyone can build a new house. It's much harder to find one that already feels established. On an oversized lot, on a quiet street, this is the kind of property buyers hope to find but rarely do.

15 21st Avenue, Hilo

Listing courtesy of eXp Realty.

$545,000
3 Beds ⋅ 2 Baths ⋅ 202612358 MLS ⋅ FS - Fee Simple Tenure
Welcome to one of Komohana Estates’ most promising opportunities—a 3-bedroom, 2-bath single-family home on a rare large lot with incredible potential. This solid, single-level layout offers generous living space, flexible room configurations, and great bones to update or customize to your taste. Outside, the expansive yard provides ample room for gardening, play, or future outdoor improvements, all in a desirable South Hilo neighborhood close to schools, shopping, and town conveniences. Don’t miss your chance to see it in person.

1316 Malawaina Street, Hilo

Listing courtesy of Nakamoto Realty LLC.

$875,000
3 Beds ⋅ 3 Baths ⋅ 202610492 MLS ⋅ FS - Fee Simple Tenure
Experience Ultimate Off-Grid Luxury on 5 Acres of Fully Fenced Prestigious Parcel in Glenwood on Big Island Hawaii. Stunning 80,000-Gallon UV-filtered Fish Pond & Waterfall make this Private Lush Estate a one-of-a-kind. Double-Walled home with Spacious Floor Plan designed to accentuate the Views of Your Nature Oasis! Fully Solar Powered with 24 Panels, Inverters, Batteries & a remote 10 kW Isuzu Generator for Backup plus a reinforced potable catchment system & pressure pump. A 20’x30’ greenhouse, 1,120 sf garage with ample storage that connects to the 880 sf carport / boat port. There is a goat shed, aviary & dog kennel perfect for farming or homestead living. Landscaping of this Level & Curated Lot includes beautiful native and exotic flowers & plants. Inside, discover T&G vaulted ceilings, solid oak cabinetry, gas on-demand water heater, pellet stove & massive covered wrap-around lanais on both levels—perfect for soaking in the beauty of the pond & property! This off-grid sanctuary combines serenity, sustainability & the Legacy Living Opportunity that you've dreamed of!

18-4565 Makaala Street, Hilo

Listing courtesy of eXp Realty.

$895,000
202609621 MLS ⋅ FS - Fee Simple Tenure
Two beautifully renovated homes are nestled on a cleared and thoughtfully improved 0.7-acre lot. This unique property features two fully updated residences, offering flexibility, privacy, and excellent income potential. With quick access to Saddle Road, commuting is easy, and the location is just minutes from Hilo town—shopping, dining, schools, and everyday conveniences—while still enjoying the cooler elevations and lush surroundings Kaumana is known for. From inside the main home, the view through the windows feels like you’re immersed in a tropical forest. The rear of the property borders a seasonal stream, bringing the soothing sound of running water • Quiet and serene setting. • Lot has been cleared with select trees removed for usability while maintaining a tropical feel. • Move-in ready — everything has been beautifully renovated. This is more than just a property — it’s a lifestyle. Privacy, nature, flexibility, and income potential all in one stunning package.

1360 Kaumana Drive, Hilo

Listing courtesy of First Hawaiian Realty.

$250,000
202607301 MLS ⋅ FS - Fee Simple Tenure
Home buyers,Contractors, Investors Special!! Build on this level lot located in Downtown Hilo in back of Hilo Shopping Center close to Prince Kuhio Mall, airport, restaurants. Owner is related to listor who is a licensed Real Estate Agent in the State of Hawaii.

141 Manini Street, Hilo

Listing courtesy of INPAC Realty, Inc..

$575,000
4 Beds ⋅ 4 Baths ⋅ 202607461 MLS ⋅ FS - Fee Simple Tenure
Welcome to 107 Opio Road in Hilo, Hawaii, a comfortable 4-bedroom, 3-bathroom home offering space, functionality, and a peaceful setting. This home features a practical layout with enough room for families, guests, or a home office, giving you flexibility for everyday living. The bedrooms are well-sized, and having three full bathrooms makes it convenient for a busy household. A two-car carport provides covered parking and additional storage space. The property is located in a quiet area where you can enjoy calm, relaxing evenings and the natural surroundings Hilo is known for. Just a short drive to Hilo town, you’ll have easy access to shopping, dining, schools, and local parks. This is a great opportunity for anyone looking for a solid home in a laid-back community on the Big Island.

107 Opio Road, Hilo

Listing courtesy of RE/MAX Honolulu.

$200,000
3 Beds ⋅ 2 Baths ⋅ 202606069 MLS ⋅ LH - Leasehold Tenure
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

Listing courtesy of Coldwell Banker Realty.

$100,000
202604445 MLS ⋅ FS - Fee Simple Tenure
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

Listing courtesy of NextHome All Islands.

$595,000
4 Beds ⋅ 4 Baths ⋅ 202600583 MLS ⋅ FS - Fee Simple Tenure
Currently installing a new roof and updating front lanai with both front and back railings being updated. Recent electrical updates are complete and scheduling plumbing updates. This Classic style home is in a great location in the heart of Hilo town walking distance to the town's famous farmer's market and recreation areas of Lincoln park, tennis courts, Mo'oheau park and Bayfront. The Central fire station is just a block away along with restaurants, grocery stores, gas stations, and medical, bank, office, and professional services buildings. The home features 3 bedrooms upstairs each with their own private bathroom with a large front lanai entrance with beautiful ocean views of Hilo's famous Bayfront. The upstairs front door enters you into a quaint front living room with the kitchen at the end of the hallway with its own private back lanai. The upstairs unit has 9 foot ceilings and hardwood floors with the old vintage design of yesteryear. The downstairs studio is large and spacious and has a unique and spacious bathroom with tile floors. Rental info: Upstairs $2,500 + utilities month to month, back downstairs $850/mo now vacant.

301 Ponahawai Street, Hilo

Listing courtesy of Compass.

$350,000
3 Beds ⋅ 3 Baths ⋅ 202528229 MLS ⋅ LH - Leasehold Tenure
Hawaiian Home Lands in Kaumana (Hilo). This is a leasehold property purchaser must be at least 50% Hawaiian.

101 Kilua Road, Hilo

Listing courtesy of Keller Williams Honolulu.

$425,000
5 Beds ⋅ 2 Baths ⋅ 202525150 MLS ⋅ LH - Leasehold Tenure
Keaukaha Hawaiian Homes-Renovated 5 bedroom, 2 baths, large 21,155 sq. ft. lot. Near Keaukaha Beach Park/ Puhi Bay in Hilo.

203 Todd Avenue, Hilo

Listing courtesy of Keller Williams Honolulu.

$365,000
9 Beds ⋅ 3 Baths ⋅ 202518347 MLS ⋅ FS - Fee Simple Tenure
High-Cash-Flow Investment in Downtown Hilo –Now $495,500 Hoku Street,Hilo,HI 96720 This Downtown Hilo property offers strong income and even higher potential through room-by-room rentals. Homes rented by the room typically earn significantly more monthly income, provide more stable cash flow, and generate higher long-term returns. With 9 rentable rooms, 3 bathrooms, and 2 full kitchens (upstairs and downstairs), the property is already producing solid revenue and can be improved further. Income & ROI: • Current gross income: $70,000–$80,000+ per year • At $495,500 — gross ROI of 13.1% at $70K/year or 15% at $80K/year • Opportunity to increase ROI through optimized room-by-room rentals • Additional tax benefits from depreciation and write-offs • Multi-tenant setup reduces vacancy risk and enhances income stability Why Room-by-Room Works Well Here: • Higher total income than whole-house rentals • Strong demand from students, workers, and medical professionals • Ideal for investors seeking high NOI and rent per square foot • Flexible layout suited for shared housing, workforce rentals, or multi-family use

82 Hoku Street Unit D, Hilo

Listing courtesy of Nathalie Mullinix R. U., Inc..

$190,000
1 Baths ⋅ 202506230 MLS ⋅ FS - Fee Simple Tenure ⋅ Waiakea Villas BLDG.
Come see this well maintained studio unit featuring: * Cool trade winds * Facing North East and Waiakea Pond / Waialoa River State Recreation Area / Hilo Bay * Right below the lanai has pond and courtyard with Koi fish and wild life * Unit is on the ground floor. However the property is situated on a slope. Therefore it is considered a second floor unit with basement unit below. * Just 5 min to Hilo International Airport * Easy Access to: - Target, Walmart, Safeway, Home Depot, Longs Drug (CVS) - Starbucks, natural food supermarket and banks - Governmental Offices - Liliuokalani Park and Garden - Merrie Monarchi Festival Hall, Swimming Pool, Tennis courts, Gym, University of Hawaii and Imiloa Astoronomy Center - Hilo Medical Center and Urgent Care - Current month to month tenant rents for $1,200 monthly

400 Hualani Street Unit 8-283, Hilo

Listing courtesy of Compass.

$1,215,000
202503343 MLS ⋅ LH - Leasehold Tenure
This is a leasehold property. Prime commercial property for sale (leasehold) on busy Kanoelehua Ave., just minutes to Hilo International Airport. The center is known as Lehua Center and includes four retail spaces totaling 5,992 sq. ft. of leasable area. Each space has it's own private restroom and is individually metered for electricity. There are 25 parking stalls. The land area is 21,050 sq. ft. and is zoned MCX-20. The original 60 year ground lease has approximately 44 years remaining with known ground rents until 8/31/29. The fee is not available, but there is a first right of refusal. The entire property is leased to a single tenant until September 30, 2027. That tenant in turn subleases the individual spaces. Lessor is responsible for building exterior repairs and common area maintenance. Lessee is responsible maintaining the interior spaces. Priced below 2023 appraisal. Please DO NOT disturb tenants. Offer subject to inspection.

750 Kanoelehua Avenue, Hilo

Listing courtesy of Lau & Associates, LLC.

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.