About 254 Kaiulani Avenue
Rarely available apartment building in Waikiki, offering strong income potential and long-term value in one of Honolulu’s most desirable rental markets. Current rents are below market, creating excellent upside potential. This well-maintained solid hollow-tile structure features a classic tiled exterior and covered parking. Each unit is individually metered for electricity with a shared water meter. All residences offer generous interior space with private lanais or patios. The property consists of one expansive 3-bedroom, 2-bath penthouse and fourteen 1-bedroom units. Interior upgrades have been completed throughout, including durable high-quality tile flooring, updated kitchens, modernized bathrooms, and newly refurbished railings. Additional monthly revenue is generated from leased coin-operated laundry machines and parking income. Pro forma rental income analysis is available. In 2025, the entire property underwent a plumbing inspection and repair process.
Features of 254 Kaiulani Avenue
| MLS® # | 202603620 |
|---|---|
| Price | $4,900,000 |
| Bathrooms | 0.00 |
| Acres | 0.10 |
| Year Built | 1960 |
| Type | Residential |
| Sub-Type | Multi Family |
| Status | Active Under Contract |
Community Information
| Address | 254 Kaiulani Avenue |
|---|---|
| Area | Metro |
| Subdivision | WAIKIKI |
| City | Honolulu |
| County | Oahu |
| State | HI |
| Zip Code | 96815 |
Amenities
| Utilities | Above Ground Utilities, Cable Available, Electricity Available, Natural Gas Available, High Speed Internet Available, Phone Available, Sewer Available, Water Available, Sewer Connected |
|---|---|
| Features | Other, Level |
| Parking Spaces | 4 |
| Parking | Assigned, Covered, Open |
| Garages | Assigned, Covered, Open |
| View | None |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| Has Basement | No |
Exterior
| Exterior | Hollow Tile, Concrete |
|---|---|
| Lot Description | Other, Level |
| Construction | Hollow Tile, Concrete |
School Information
| Elementary | Jefferson |
|---|---|
| Middle | Washington |
| High | Kaimuki |
Additional Information
| Date Listed | March 2nd, 2026 |
|---|---|
| Days on Market | 194 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Locations LLC |
|---|---|
| Contact Info | (808) 735-4200 |