North Kona Homes with Leasehold Land tenure

Welcome to North Kona, a breathtaking slice of paradise on the Big Island of Hawaii, where stunning ocean views meet the lush landscapes of the volcanic terrain. Nestled along the western coast, North Kona is renowned for its year-round sunny weather, making it a haven for outdoor enthusiasts and a perfect retreat for those seeking a tranquil lifestyle. With its proximity to beautiful beaches, vibrant coral reefs, and world-class golf courses, residents enjoy a plethora of recreational activities right at their doorstep.

In North Kona, you’ll find a diverse array of homes that cater to various lifestyles and budgets. One unique aspect of the real estate market here is the availability of homes with leasehold land tenure. This means that while you own the home itself, the land it sits on is leased from a landowner, often resulting in lower purchase prices and more accessible entry points for buyers. Leasehold properties can be an excellent option for those looking to invest in a piece of paradise without the hefty price tag that freehold properties may demand.

Living in North Kona offers more than just beautiful homes; it’s a community rich in culture and history, with charming towns like Kailua-Kona providing a vibrant social scene, local farmers' markets, and delightful dining options. Whether you’re drawn to the allure of oceanfront living, the tranquility of the mountains, or the excitement of community activities, North Kona promises a lifestyle that is as dynamic as it is serene. Embrace the Aloha spirit and discover your dream home in this enchanting region of Hawaii!

Newest North Kona Homes with Leasehold Land tenure

$140,000

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. 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.

$115,000

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.

$672,000

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. Property is being sold AS IS. 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.

$340,000

1 Beds ⋅ 1 Baths ⋅ 731956 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Makai BLDG.

This is a leasehold property. Incredibly special and rare offering at Kona Makai — this top-floor unit with a spacious loft is STVR-CERTIFIED and an extremely successful vacation rental with a history of strong, consistent guest reviews. This is a proven income-producing property, not a hypothetical opportunity. One of the most valuable features is the installed split air-conditioning system, a very rare and highly sought-after upgrade in Kona Makai that dramatically enhances guest comfort and rental demand. The large loft functions as a true second sleeping area, allowing the unit to comfortably sleep up to six guests, maximizing flexibility and rentability. Beautifully decorated and exceptionally spacious, the unit enjoys ocean views from both the main lanai and the loft, creating an elevated island experience that guests consistently rave about. Kona Makai is a beautifully maintained, highly desirable oceanfront community located on iconic Alii Drive. Resort-style amenities include lush tropical landscaping, an oceanfront pool and spa, sunny lounging areas, two fitness rooms, gas BBQ and dining areas, tennis courts, ping-pong, ample parking, and nighttime gated security. Monthly maintenance fees include water, landscaping, resident manager, trash service, pool maintenance, cable TV, and high-speed internet (500+ Mbps) — a significant value add for both owners and guests. This is a turn-key, STVR-approved, high-performing vacation rental in one of Kona’s most sought-after oceanfront complexes — a rare opportunity that checks every box for lifestyle, income, and long-term value

75-6026 Alii Dr Unit 5305, KAILUA KONA

Listing courtesy of Knutson & Associates.

$110,000

1 Beds ⋅ 1 Baths ⋅ 731641 MLS ⋅ ['Leasehold'] Tenure ⋅ Alii Villas BLDG.

This is a leasehold property. Own Your Piece of Paradise at Oceanfront Aliʻi Villas! Unit #112, is a beautifully furnished 1-bedroom, 1-bath condominium in the highly desirable oceanfront Aliʻi Villas community. Located on the south side of the complex near the pool, this garden-view unit offers a tranquil island setting surrounded by lush tropical landscaping. The living, dining, and kitchen area flows out to a ground floor lanai - perfect for morning coffee, yoga, or additional storage. Being sold fully furnished, this move-in-ready condo features a full-size washer and dryer too. Aliʻi Villas is one of the few oceanfront communities in Kailua-Kona that allows short-term vacation rentals, making this an excellent opportunity for buyers seeking a future investment property, second home, or full-time residence. Community amenities include a solar-heated saltwater pool, oceanfront BBQ area, sunset viewing deck, library, and community gathering areas. Conveniently located just minutes all Kailua-Kona's has to offer, including restaurants, shopping, beaches, farmers markets, and ocean activities. Monthly maintenance fees include water, trash service, basic cable, internet, and exterior/common area maintenance. The current lease ends 2/28/29. The Fee is available for purchase for $450k. Buyers may purchase the fee simultaneously with the condominium purchase, providing the opportunity to get a loan and convert the property to fee simple ownership.

75-6016 Alii Dr Unit 112, KAILUA KONA

Listing courtesy of Hawaii Estates LLC.

$229,000

1 Baths ⋅ 730813 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Rarely available View Unit in Kona Islander Inn. Enjoy the beautiful Ocean Horizon Views from this Upper Floor Corner Unit!!! Situated in the highly sought after Maui Building, tucked away from traffic and road noise this 3rd floor corner unit is a tranquil escape while still being in the heart of the action in Kailua Kona with easy access to Alii Drive Beaches & Restaurants. This artistically decorated retreat boasts an updated kitchenette, new sliding door, new AC unit and pride of ownership through out. Whether you're looking for a relaxing vacation or a remote working experience, this is the ultimate destination to create your piece of Hawaiian Paradise. Unit #322 is a highly successful Short Term Vacation Rental, and comes turnkey with everything you need to continue this revenue generating investment. Monthly HOA Fees Include: Water / Electric / Trash / Cable / Internet / Resident Manager in addition to the maintenance of the grounds and pool & spa and BBQ area

75-5776 Kuakini Hwy Unit 322, KAILUA KONA

Listing courtesy of Coldwell Banker Island Properties - Kona.

$180,000

2 Beds ⋅ 1 Baths ⋅ 730692 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. Discover island living in this beautifully updated, turnkey 2-bedroom, 1-bath condominium ideally located in the heart of Kailua-Kona. Enjoy ocean views and an unbeatable location just moments from the iconic Ironman finish line, Kona Pier, local markets, grocery stores, restaurants, shopping, and the sparkling Pacific Ocean. Currently operating as a successful vacation rental, this fully furnished condo presents an excellent opportunity for investors seeking income potential or buyers looking for their own private island getaway. Thoughtfully updated and move-in ready, it offers the perfect blend of comfort, convenience, and the Kona lifestyle. Residents and guests enjoy access to a community pool, and the monthly maintenance fee includes water, sewer, gas, trash service, landscaping, pool maintenance, and quarterly pest control. For added convenience, the property features newly installed coin-operated washers and dryers. Whether you're searching for a Hawaii retreat, a vacation rental investment, or both, this centrally located condo is ready to welcome you. 🌺

74-5618 Palani Rd Unit F7, KAILUA KONA

Listing courtesy of First Island Realty, LLC.

$125,000

1 Beds ⋅ 1 Baths ⋅ 730968 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. This well-maintained beautiful condo boasts many upgrades. Perfect location in Kona Town. Short walk to restaurants, shopping and waterfront. This unit located on the 1st floor has newer AC units, Dishwasher, Ceiling Fans, Garbage disposal. This property is approved for short term vacation rentals. This cozy dual-purpose unit is turnkey and ready to move in and/or renting on Airbnb immediately. Snowbird owners live here January through March, and it is currently Airbnb rented with a 4.7 rating.

74-5618 Palani Rd Unit I5, KAILUA KONA

Listing courtesy of Transworld Realty LLC.

$197,100

1 Baths ⋅ 731062 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Conventional Financing is now available for qualified buyers—please inquire for details! Seller Financing Also Available! Beautifully remodeled and located on the top floor, Kona Islander Inn Unit 336 offers a unique opportunity to own an affordable slice of paradise in the heart of Kailua-Kona. One of the standout features of this exceptional studio is its thoughtfully designed and beautifully updated kitchen, creating a warm and inviting space rarely found within the complex. The bright and comfortable interior has been tastefully upgraded and features attractive flooring, a remodeled bathroom, air conditioning, and a private covered lanai overlooking the lush tropical grounds with peek-a-boo ocean views. Whether you're looking for a personal island retreat, a second home, or an investment opportunity, this unit provides comfort and convenience in an unbeatable location. Kona Islander Inn is known for its resort-style setting with a swimming pool, spa, barbecue areas, and beautifully landscaped grounds. Situated right in the center of Kailua-Kona, you're just steps away from Alii Drive and within walking distance to restaurants, coffee shops, farmers markets, shopping, beaches, and countless ocean activities. Enjoy island living at its best with this beautifully remodeled top-floor unit in one of Kona's most convenient locations. Leasehold property with financing options now available for qualified buyers—please inquire for details

75-5776 Kona Islander Inn Unit 336, KAILUA KONA

Listing courtesy of Knutson & Associates.

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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.