Big Island Homes with Leasehold Land tenure

Welcome to the breathtaking Big Island of Hawaii, a paradise where natural beauty meets rich cultural heritage. Known for its diverse landscapes, from lush rainforests and volcanic mountains to pristine beaches, the Big Island offers an unparalleled lifestyle for those seeking to embrace the spirit of Aloha. With its unique geographical features, including the majestic Mauna Kea and the vibrant shores of Kailua-Kona, this island is a haven for outdoor enthusiasts, adventure seekers, and those simply looking to unwind in a tropical paradise.

When considering a home on the Big Island, you’ll find a variety of options, including properties with leasehold land tenure. Leasehold properties are quite common in Hawaii and can provide an affordable entry point into this stunning market. With leasehold homes, buyers purchase the property but lease the land from a landowner for a specified period, often ranging from 30 to 99 years. This arrangement can be particularly appealing for those who wish to enjoy the beauty and lifestyle of the Big Island without the higher costs associated with fee-simple properties.

Living in a leasehold home on the Big Island means you can immerse yourself in the local culture, explore the vibrant communities, and enjoy the breathtaking surroundings without breaking the bank. Whether you’re looking for a cozy beachside retreat or a spacious family home nestled in the mountains, the Big Island has something for everyone. Embrace the opportunity to create your own slice of paradise in this enchanting island oasis!

Newest Big Island Homes with Leasehold Land tenure

$849,000

4 Beds ⋅ 2 Baths ⋅ 732724 MLS ⋅ ['Leasehold'] Tenure

This is a leasehold property. Set on 6.3 acres in South Kona, this KSBE leasehold mixed-crop farm offers a combination of flexible living, established agriculture, and stunning ocean views. Lovingly cared for, the property provides flexibility for living, working and pursuing creative and agricultural interests. The home is uniquely configured as two separate 2-bedroom, 1-bath living spaces connected by a covered lanai. On the makai side, a full kitchen, dining area and living room open directly to the covered lanai, creating a natural gathering space between the two buildings. The mauka side features a spacious living area. Four separate stairways provide access to the home, and a chair lift offers added convenience when moving people or heavier items between levels. Below the living areas, an equal amount of usable ground-level space provides a substantial foundation for the farm operation. Finished with a thick gravel base, this versatile area is currently used for storage, organization and food processing, while the space beneath the mauka living area has been configured as a cabinet-maker's woodshop. The hot tub sits overlooking the orchard, with a nearby outdoor shower. The fenced property is divided by Huanui Road, with the larger makai portion primarily planted in macadamia nuts, breadfruit/ulu and avocado, along with additional crops including a kabocha pumpkin patch. A leased Sunrun PV system covers most of the power bill The home and farm have been exceptionally well maintained, reflected in one of the cleanest pre-home inspections. Some of Hawai‘i Island's finest ocean access is close by, including Hōnaunau, Ho‘okena, Manini and Kealakekua Bay—exceptional destinations for swimming, snorkeling, paddling and fishing, and an integral part of the South Kona lifestyle. KSBE LH properties require a cash purchase and take approximately 6 months to close escrow * Lease rent is annual * Lease to 12/31/2054

83-5599-D Middle Keei Rd, CAPTAIN COOK

Listing courtesy of Hawaii Life.

$650,000

2 Beds ⋅ 2 Baths ⋅ 732081 MLS ⋅ ['Leasehold'] Tenure

This is a leasehold property. 1.09 acre KSBE ag LH mixed - crop tropical farm retreat with flexible living space minutes from Hawai’i Island’s finest ocean access spots. This unique property is woven into a tropical farm setting. The open living area connects the kitchen to a glass-enclosed, screened-in lanai with a Hawaiian pūne‘e daybed and a wall of windows framing sweeping South Kona coastline views. Hardwood detail adds warmth and natural character to this vintage home. A cozy en suite bedroom with separate entrance is located off the kitchen. Covered decking leads to additional rooms opening to the gardens, including the Shoji room overlooking the turtle pond with its resident turtle. A round window feature and mural-enhanced exterior create the perfect space for meditation, yoga or massage. Below the main home are a shop area and a storage room. A separate building without plumbing or electricity was used as an art studio and is currently storage. The 1.09 acre scale makes the ag LH farming requirement manageable, with enough land to cultivate without the demands of a much larger farm. The property is mostly fenced and productive, with avocado, banana, cacao, citrus, coconut, coffee, lilikoi, mango, papaya and ‘ulu, along with bamboo, ginger, heliconia and plumeria.. A fruit stand at the bottom of the drive offers the opportunity to share and sell the farm’s harvest along this special road, known for its local fruit and baked-goods stands. Ke Ala o Keawe is the road to Pu’uhonua o Honaunau National Historical Park. Some of Hawai‘i Island’s finest ocean access is nearby, including Hōnaunau, Ho‘okena, Manini and Kealakekua Bay — exceptional spots for swimming, snorkeling, paddling and fishing, all part of everyday South Kona living. * KSBE LH properties require a cash purchase and take approximately 6 months to Close escrow * Lease rent is annual. * Lease to 3/1/2051

84-4956 Ke Ala O Keawe Rd, CAPTAIN COOK

Listing courtesy of Hawaii Life.

$220,000

1 Baths ⋅ 732948 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Long-term lease expiring in 2079! Fully renovated & Fully furnished Active STVR in Prime Kailua-Kona Location! This beautifully updated studio at Kona Islander Inn offers an exceptional opportunity to own an affordable Hawaiian getaway with established short-term vacation rental potential. Located in a designated Vacation Zone across the street from the shoreline, dining, shopping, and popular Kona attractions, this third-floor condo is ideally positioned for both personal enjoyment and investment use. The thoughtfully renovated interior features modern tropical finishes, comfortable furnishings, and a welcoming resort-inspired atmosphere. Enjoy your private lanai overlooking the lush grounds and pool area—an ideal spot for morning coffee or winding down after a day of island adventures. Kona Islander Inn offers a relaxed vacation setting with a swimming pool, jacuzzi, BBQ areas, and onsite laundry. The convenient location puts you close to ocean activities, restaurants, entertainment, and everything downtown Kailua-Kona has to offer. As a leasehold property, this studio provides an opportunity to enter the Kona market at a potentially lower price point while enjoying the benefits of a vacation-oriented location. Whether you're looking for a personal island retreat, a potential income-producing STVR, or a combination of both, this turnkey studio is worth a look. HOA fee includes water, internet, trash, TV and electricity!

75-5776 Kona Islander Inn Unit 305, KAILUA KONA

Listing courtesy of KW Big Island.

$429,900

2 Beds ⋅ 2 Baths ⋅ 732991 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Makai BLDG.

This is a leasehold property. Welcome to Kona Makai 2-101, a beautifully updated 2-bedroom, 2-bath ground-floor corner residence offering approximately 1,041 sq. ft. of comfortable island living just moments from the ocean. **Offered turnkey and fully furnished**, this successful vacation rental combines a highly desirable location, flexible floor plan, ocean views, split-system air conditioning, and convenient no-stairs access. The unit underwent extensive updates in 2024, including new A/C mini-splits, refreshed kitchen cabinetry, new backsplash and floating shelves, new living room and kitchen flooring, updated paint and wall coverings, new fixtures and lighting, new furniture and décor, custom headboards, and a new television in the primary bedroom. Kona Makai 2-101 offers an established short-term vacation rental history and is being sold **turnkey and fully furnished**, creating an attractive opportunity for a buyer seeking a second home, island getaway, or investment property. Successful vacation rental in 2025 with additional rental activity continuing through 2026. Future reservations are already scheduled from September through spring, providing potential continuity for a buyer interested in vacation-rental use, subject to applicable rules, permits, booking-platform requirements, and reservation-transfer arrangements. An especially notable feature is the opportunity to convert the property from leasehold to fee simple. The Kona Makai AOAO has acquired the leased-fee interests for the condominium project and established a program allowing individual unit owners to purchase their proportionate fee interest. Buyers should review the current fee-conversion documents, pricing, deadlines, financing terms, and closing costs as part of their due diligence. Established vacation rental with a potential path to fee-simple ownership.

75-6026 Alii Dr Unit 2101, KAILUA KONA

Listing courtesy of Hawaii's Homegrown Realty LLC.

$245,900

1 Beds ⋅ 1 Baths ⋅ 732776 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Makai BLDG.

This is a leasehold property. Welcome to Kona Makai #5-207, a beautifully positioned end unit offering an exciting opportunity in one of Kona’s desirable oceanfront communities. Conveniently located with close access to parking this fully furnished 1-bedroom, 1-bath condominium offers approximately features two private lanais surrounded by Kona Makai’s lush tropical setting. What makes this opportunity particularly exciting is the flexibility now available to buyers. While currently leasehold, the fee simple interest is now available for purchase at Kona Makai, creating an opportunity to convert to fee simple ownership. Financing options are also available opening the door to buyers who may have previously overlooked leasehold properties. For investors, the potential is especially compelling! Kona Makai is an STVR-eligible complex, offering an opportunity for short-term vacation rental use. Combined with the ability to purchase the fee, this creates a unique opportunity for buyers looking for both flexibility and long-term potential. Inside, the end-unit location adds to the appeal, while two lanais provide additional spaces to enjoy Hawaiʻi’s indoor-outdoor lifestyle. Kona Makai offers fantastic resort-style amenities, including a spectacular oceanfront pool and spa, BBQ and gathering areas, tennis and pickleball courts, beautifully maintained tropical grounds, and ample open parking Located just minutes from downtown Kailua-Kona’s restaurants, shopping, beaches, and ocean activities, 5-207 combines location, convenience, rental potential, and the rare opportunity to purchase the fee interest. Leasehold today with the fee available for purchase an exciting opportunity to make Kona Makai your own!

75-6026 Alii Dr Unit 5207, KAILUA KONA

Listing courtesy of Knutson & Associates.

$109,900

1 Beds ⋅ 1 Baths ⋅ 732626 MLS ⋅ ['Leasehold'] Tenure ⋅ Honalo Plaza BLDG.

This is a leasehold property. Big Island Living Within Reach | $109,900 This beautifully updated 1-bedroom, 1-bath condo offers an affordable opportunity to enjoy a place of your own in the Kona area. Fresh, comfortable, and move-in ready, the thoughtfully designed interior makes great use of the space and offers an easy, low-maintenance lifestyle. A standout benefit is the value included in the $798 monthly maintenance fee, which includes the lease fee, electricity, water, propane, rubbish removal, and building insurance—bringing several major monthly expenses together into one convenient payment. Whether you're looking for an affordable full-time residence, a convenient Hawai‘i home base, or a simple lock-and-leave retreat, this remodeled condo offers an appealing alternative to the considerably higher price of many fee-simple properties in the Kona area. For the right cash buyer who understands leasehold ownership, this is an opportunity to enjoy the Hawai‘i lifestyle at a price point that's increasingly hard to find. LEASEHOLD PROPERTY. CASH OFFERS ONLY. NO SELLER FINANCING. Current lease expires in 2039. Buyer to independently verify lease terms, maintenance fee inclusions, rental use, fees, and all information deemed material to the purchase.

79-7261 Honalo Plaza Unit 204, KAILUA KONA

Listing courtesy of ZT Hawaii LLC.

$114,000

1 Beds ⋅ 1 Baths ⋅ 732427 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. Own one of the area's most sought-after vacation rentals! This beautifully maintained top-floor condominium has been a consistently successful Airbnb property, generating an average of approximately $55,000 in annual gross rental revenue over the past five years. With an established rental history, outstanding guest reviews, and reservations already on the books through 2027, this is a rare opportunity to step into a proven, income-producing property from day one. Now offered at it's rock bottom price and with the potential of transferring approx. $22,000 of future 2026 STVR bookings. Located on the top floor of a two-story building, the condominium enjoys peaceful privacy along with relaxing ocean and pool views from the lanai. Guests love the bright, open feel and the elevated vantage point that captures Kona's beautiful sunsets and tropical atmosphere. The location is one of the property's greatest assets. Situated in the heart of Kona, visitors can easily walk or take a short drive to beaches, restaurants, shopping, and local attractions. This highly desirable central location has been a major contributor to the property's exceptional occupancy and repeat guest business. The sale includes one assigned parking space, adding convenience for both owners and guests. Please note: This is a leasehold property and because of leasehold financing limitations a cash purchase is required. Whether you're looking to expand your vacation rental portfolio or own a tropical getaway with a proven income stream, this turnkey investment offers an exceptional combination of location, performance, and lifestyle.

74-5618 Palani Rd Unit A4, KAILUA KONA

Listing courtesy of Hawaii Real Estate Group LLC.

$110,000

1 Beds ⋅ 1 Baths ⋅ 732315 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. A rare chance to own near the Kailua-Kona pier. This freshly updated one-bedroom leasehold condo at Kona Kai sits close to Alii Drive, downtown restaurants, and KTA Super Store, at a fraction of the cost of nearby fee-simple condos. Second-floor unit in one of Kailua-Kona's most central locations, just 0.3 miles from the pier and Alii Drive, so swimming, shopping, and strolling are right outside your door. This unit has an open lanai (although owners can screen in lanais) and an ultra prime parking spot right outside the door. Recently updated with new laminate flooring, fresh paint throughout, new bathroom vanity and shower surround, and new kitchen appliances — including a gas range which is a rare treat when it comes to condo living. Land lease through 2034, this is a cash-only purchase, not financeable. CV-10 zoning and HOA rules both allow short-term vacation rental use (STVR/TAR permit not yet obtained, to be secured separately by buyer), offering ultimate flexibly to cover carrying costs when not in use. Whether you're looking for a home base or a place to get away, this condo puts your Kona dream within reach. Kona Kai amenities: large community pool with expansive pool deck, BBQ area, on-site coin laundry, outdoor shower for rinsing off.

74-5618 Palani Rd Unit L2, KAILUA KONA

Listing courtesy of Knutson & Associates.

$582,000

3 Beds ⋅ 3 Baths ⋅ 732129 MLS ⋅ ['Leasehold'] Tenure

This is a leasehold property. Located in Keauhou Mauka, the heart of the Kona Coffee Belt, this property offers a lifestyle that most would envy. The farm is 19.5 acres, with approximately 11.5 acres of planted coffee, with over 3300 ungrafted trees that are fully accessible by machine. The house is open and airy, with Brazillian Cherry wood floors in the main living area, skylights and sweeping ocean views. There are 3 bedrooms on the second level as well as an office, full sized bathroom, a dining area and a living room. Upstairs on the third level is a large primary bedroom and its own bathroom. On the ground floor level is a one car garage, a bonus room and Farmhand quarters with a full bathroom. Make your Kona Coffee dreams a reality! **Agricultural land and county water. Farm equipment is not included in the sale. Verification of funds is required prior to showing. Property is owner occupied and 48 hours notice is preferred. Home inspection available.

78-1134 Bishop Road, HOLUALOA

Listing courtesy of Coldwell Banker Island Properties - Kona.

$195,000

1 Baths ⋅ 732139 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Welcome to this Top floor, End unit Studio which has been renovated and is offered fully furnished. The historic Kona Islander Inn has wonderful amenities, inviting lush tropical gardens and is centrally situated within Kailua-Kona village - a peaceful retreat with the convenience of being in the heart of town. - Enjoy this island-style condo as your own Hawaii getaway and as an investment property as well. The property is an existing vacation rental with solid rental history and future reservations which are assumable by Buyer. - Offered completely furnished with all that you'll need including a Queen bed plus sofa-sleeper, indoor and outdoor seating, TV, refrigerator / freezer, microwave, coffee-maker & more - Enjoy the covered outdoor lanai with garden views, ocean breeze - Air conditioning for warmer Hawaii climate plus tropical ceiling fan - Amenities include centrally located in-ground pool, spa, barbecue, charming open-air lobby with lounge and veranda, complimentary parking pass, lush mature landscaping and coin-operated laundry facility - Located adjacent to Alii Drive, Kona Islander Inn is just a short stroll to all that Kailua-Kona has to offer: ocean activities, historical sites, restaurants, shopping & farmer's market, personal services, churches and Kailua Public Library. - Monthly condo fees include all utilities: electricity, TV cable/internet, water, sewer, trash, maintenance of the grounds, pool, spa, barbecue, recycling.

75-5776 Kuakini Highway Unit 334, KAILUA KONA

Listing courtesy of NextHome Paradise Realty.

$199,000

1 Baths ⋅ 731827 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Incredible opportunity to own a turnkey, active short-term vacation rental in the heart of Kailua-Kona. Located on the third floor of the Oahu building at the Kona Islander Inn, suite #339 is a 372 sqft studio offering peaceful Plumeria garden views from its private lanai. Priced to sell, this unit features an established STVR track record with a 3-night minimum stay. Proven seasonal rates include a $140/night base rate. Step right into an operational investment asset or use it as your private tropical escape. The complex sits directly across the street from the ocean and is just steps from the historic dining, shopping, and entertainment along Alii Drive. Resort-style amenities include an in-ground pool, spa/hot tub, two BBQ grill areas, community laundry, and helpful onsite staff. The comprehensive $1,075/month maintenance fee completely streamlines your expenses by covering electricity, high-speed internet, cable TV, water, sewer, trash, and common area maintenance. This leasehold property is open to Cash or 1031 Exchange buyers, with furnishings negotiable. Pack your suitcase and take over this prime piece of Kona today. The information herein may contain inaccuracies and is provided without warranty of any kind. Agents and buyers must independently verify any info they deem material or important to their purchase or any offered price thereunder.

75-5776 Kuakini Hwy Unit 339, KAILUA KONA

Listing courtesy of eXp Realty.

$280,000

1 Baths ⋅ 731984 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Enjoy the convenience of in-town living at the Kona Islander Inn. This turnkey, leasehold studio is currently operating as a successful short-term vacation rental and features a private lanai overlooking the pool area, and beautifully maintained tropical landscaping. The unit offers a blend of modern and island-style furnishings, air conditioning, blackout drapes, a kitchenette, and everything needed for a comfortable island getaway. Resort amenities include a pool, hot tub, BBQ area, parking lot, trash service, and on-site laundry. Ideally located along Ali‘i Drive, the Kona Islander Inn is just a short walk to the ocean, Kailua-Kona town, restaurants, shops, and popular attractions. Monthly HOA fees include leasehold rent, water, electricity, basic cable, trash, and high-speed internet. Lease runs through 2079 with renegotiation scheduled for 2029. Buyers utilizing lending are welcome to submit offers.

75-5776 Kona Islander Inn Unit 201, KAILUA KONA

Listing courtesy of eXp Realty.

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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.