Mixed-use investment opportunity in Kalihi featuring two buildings and nine residential rooms. The ground floor commercial unit has a CUP in place with roll-up door access and direct street frontage — suitable for retail, grocery, or light industrial use. Building B is currently occupied generating $4,000/month. Building A is actively under renovation. Priced at $1,500,000 with a stabilized cap rate of 7.8–9.0%. The surrounding Kalihi corridor has strong long-term redevelopment fundamentals.
Conditional Use Permit (CUP) — Protected Commercial Use
The commercial unit carries a CUP, securing its legal commercial operating status within the R-5 residential
zone. This rare entitlement protects lender and tenant confidence and is a meaningful differentiator at this price
point.
Active
$1,500,000
1104 Palama St, Honolulu, HI 96817
5beds
3,296sqft
Single Family Residence
Built in 1905
-- sqft lot
$1,444,800 Zestimate®
$455/sqft
$-- HOA
What's special
- 23 days |
- 422 |
- 10 |
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Mike Tavepholjalern 808-388-5411,
Fogarty Realty, Inc.
Source: HiCentral MLS,MLS#: 202612167
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 2
Features
- Flooring: Vinyl
Interior area
- Total structure area: 3,296
- Total interior livable area: 3,296 sqft
Property
Parking
- Total spaces: 4
- Parking features: Three or more Spaces
Features
- Levels: Two
- Stories: 2
- Pool features: None
- Has view: Yes
- View description: City
- Frontage type: Other
Lot
- Features: Cleared, Corner Lot, Level
- Topography: Level
Details
- Parcel number: 1160010190000
- Zoning description: 05 - R-5 Residential District
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Multi-Family,Multiplex
- Property subtype: Single Family Residence
Materials
- Wood Frame
Condition
- Average Condition,Updated/Remodeled
- New construction: No
- Year built: 1905
- Major remodel year: 2025
Utilities & green energy
- Water: Public
- Utilities for property: Above Ground Utilities, Cable Available, Electricity Available, Natural Gas Available, High Speed Internet Available, Other, Phone Available, Sewer Available, Water Available
Community & HOA
Community
- Features: None
- Security: Key Card Entry
- Subdivision: Kapalama
HOA
- Services included: None
Location
- Region: Honolulu
Financial & listing details
- Price per square foot: $455/sqft
- Tax assessed value: $1,091,600
- Annual tax amount: $13,524
- Date on market: 6/26/2026
- Inclusions: None
Estimated market value
$1,444,800
$1.37M - $1.52M
$1,962/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/26/2026 | Listed for sale | $1,500,000+30.4%$455/sqft |
Source:  HiCentral MLS #202612167 Report a problem | ||
| 6/3/2025 | Listing removed | $1,150,000$349/sqft |
Source: HiCentral MLS #202505402 Report a problem | ||
| 2/21/2025 | Listed for sale | $1,150,000+38.6%$349/sqft |
Source: HiCentral MLS #202505402 Report a problem | ||
| 1/29/2016 | Sold | $830,000$252/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $13,523 +7.2% | $1,090,600 +7.2% |
| 2024 | $12,618 +0.8% | $1,017,600 +0.8% |
| 2023 | $12,518 -5.9% | $1,009,500 -5.9% |
| 2022 | $13,308 +14.5% | $1,073,200 +14.5% |
| 2021 | $11,626 | $937,600 +0% |
| 2020 | -- | $937,300 +2.6% |
| 2019 | $11,331 +42.3% | $913,800 +42.3% |
| 2018 | $7,962 +8.2% | $642,100 +8.2% |
| 2017 | $7,358 +6.4% | $593,400 +6.4% |
| 2016 | $6,915 +10.9% | $557,700 +10.9% |
| 2015 | $6,238 +12.8% | $503,100 +7.7% |
| 2014 | $5,530 | $467,000 +4.1% |
| 2013 | -- | $448,600 +0.3% |
| 2012 | -- | $447,200 +0.3% |
| 2011 | -- | $446,000 -10.4% |
| 2010 | -- | $497,500 -2.9% |
| 2009 | -- | $512,600 +4% |
| 2008 | -- | $493,000 +0.6% |
| 2007 | -- | $490,300 +28.1% |
| 2006 | -- | $382,700 +34.8% |
| 2005 | -- | $284,000 -1.9% |
| 2004 | -- | $289,400 +3% |
| 2003 | $1,480 -42% | $280,900 +75.6% |
| 2002 | $2,554 | $160,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Kapalama
Nearby schools
GreatSchools rating
- 4/10Princess Miriam K Likelike Elementary SchoolGrades: PK-5Distance: 0.2 mi
- 6/10Princess Ruth Keelikolani Middle SchoolGrades: 6-8Distance: 1 mi
- 4/10President William Mckinley High SchoolGrades: 9-12Distance: 2 mi
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