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$950,000
4 Beds ⋅ 5 Baths ⋅ 731426 MLS ⋅ ['Fee Simple'] Tenure
Investment Opportunity at 75-190 Alakai St. A Multi-Unit Property with Strong Rental Income & Value-Add Potential! Opportunity awaits with this income-producing multi-unit property in the heart of Kailua-Kona. Currently generating $7,250 per month ($87,000 annually) in rental income, this property offers immediate cash flow while providing significant upside for investors, contractors, or owner-occupants looking to increase value through renovations and improvements. The current layout includes: Upper Front Unit: 2 bedroom / 1 bathroom with kitchen and living area Upper Rear Unit: 1 bedroom / 1 bathroom with kitchen and living area Lower Unit: 1 bedroom / 1 bathroom Additional Rental Space: Separate room currently rented, plus five storage rooms and an additional bathroom offering flexibility for storage or other potential uses (buyers to conduct their own due diligence regarding permitted use). One of the property's biggest advantages is its generous lot with the potential to create additional off-street parking—an attractive feature that can add convenience and increase long-term value. Conveniently located just minutes from Historic Kailua Village, restaurants, shopping, grocery stores, schools, medical facilities, and the Kona waterfront, the property also offers quick access to Alii Drive, beaches, snorkeling, fishing, and outdoor recreation. Its central location makes it desirable for long-term tenants seeking easy access to employment, services, and everyday amenities. Whether you're looking to renovate and maximize rental income, build equity through improvements, or occupy one unit while generating income from the others, this property offers exceptional flexibility and investment potential in one of Kona's most convenient locations. Bring your vision and unlock the possibilities this rare multi-unit opportunity has to offer.

75-190 Alakai St, KAILUA KONA

Listing courtesy of Coldwell Banker Island Properties - Kona.

$675,000
3 Beds ⋅ 2 Baths ⋅ 730881 MLS ⋅ ['Fee Simple'] Tenure ⋅ Alakai Condominium Project BLDG.
Recently upgraded single-family home with no HOA just blocks from Ali'i Drive and Kona's main shopping centers. Walkable to restaurants, shops, and the waterfront, this is about as convenient a location as you'll find in Kona. The seller has done a thorough job updating this home. New laminate flooring and baseboards run throughout, new ceiling fans keep things comfortable year-round, and the kitchen has been completely redone with all-new cabinetry, stainless appliances, a new stove, fridge, microwave, and sink. It's a clean, functional space that's ready to use from day one. The main bathroom has been fully refreshed with a new vanity, sink, custom tilework, and shower. A new in-unit washer and dryer are included, which is a genuine convenience at this price point. Three bedrooms are situated downstairs with a full bathroom, plus an extra walk-in storage attic room off the living room that gives you flexibility most comparable homes don't offer. Upstairs, the living area opens to a wraparound lanai where you get ocean, bay, and Hualalai views. It's a nice place to end the day. The low-maintenance yard with fruit trees out back keeps weekends free for everything else Kona has to offer. Two-car carport with a large locking storage locker. Move-in ready and priced for a first-time buyer or investor to step right in.

75-185 Alakai St Unit A, KAILUA KONA

Listing courtesy of eXp Realty.

$355,000
2 Beds ⋅ 2 Baths ⋅ 728598 MLS ⋅ ['Fee Simple'] Tenure ⋅ Kalawa Gardens BLDG.
STVR ELIGIBLE CONDO! According to the County planning dept. this condo is zoned RM-1 by the State Land Use Commission. Per Section 25-4-16(a)(1)(C), RM districts that have been CPR’d are permitted for STVR’s. This ideally located 2/2 condo in the heart of Kona offers convenience and comfort. The second-story end unit with only one common wall provides exceptional privacy and superior airflow. Situated in Kalawa Gardens complex in a cul-de-sac, Unit D2 offers a serene environment only minutes from the vibrant energy of downtown Kona. Highlights: • Open-concept floor plan, with louvered windows promotes excellent airflow and natural light, even more-so being neighbor-free on three sides. The two bedrooms have ocean views with spectacular sunsets, while the private lanai provides a peek-a-boo ocean view. The primary bedroom includes an ensuite bathroom and walk-in closet. • Interior details include granite bathroom countertops, ceiling fans, and concrete/brick walls with finished concrete and tile floors to keep temperatures pleasant year-round. • Features an in-unit stacked washer/dryer, dishwasher, and microwave. Seller is leaving built-in floor-to-ceiling bookshelves and area rugs if the buyer desires. • Elevator-serviced building for easy access. Includes one deeded parking stall plus visitor parking on-site and in a paved off-street lot. • Enjoy an easy lifestyle within minutes of Safeway, KTA, Sack ‘n Save restaurants, coffee houses, the post office, and the ocean/pier. • Pet-friendly community (subject to board approval) with affordable monthly HOA fees covering water, sewer, trash, and common area maintenance. This represents a rare opportunity for affordable fee-simple ownership in a prime Kona location. Information regarding short-term vacation rental (STVR) allowance is forthcoming. * Three photos have been virtually staged and/or altered by AI as noted in the captions, and original photos follow each one.

75-5709 Kalawa St Unit D2, KAILUA KONA

Listing courtesy of COMPASS.

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.