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$170,000
2 Beds ⋅ 1 Baths ⋅ 731932 MLS ⋅ ['Fee Simple'] Tenure ⋅ Hilo Terrace BLDG.
Here is a great opportunity to own a ground floor unit in Hilo Terrace. Location, location location! This 2 bedroom, 1 bath unit is located close to schools, Hilo Medical, and Downtown Hilo! There is an onsite manager and a swimming pool. The unit was remodeled a few years ago, but is in need of some TLC. Whether you are looking for an investment property or a place of your own, this unit offers convenience, comfort and value! Come take a look today!

485 Waianuenue Ave Unit 117, HILO

Listing courtesy of Property Professionals Hawaii LLC..

$170,000
2 Beds ⋅ 1 Baths ⋅ 731501 MLS ⋅ ['Fee Simple'] Tenure ⋅ Hilo Terrace BLDG.
Your opportunity to own an end unit at Hilo Terrace Condominium. This 2 bedroom, 1 bathroom unit is fee simple, located on the second floor, at the end of the building and even has ocean views. The property is in need of some updating and repairs and is currently being rented out making this a great investment property. Each unit comes with its own assigned parking space on the refinished asphalted parking lot a few years ago and is located near the front of the building. The complex also has shared laundry facilities, vending machines, an updated pool (2019), mailboxes and an on-site manager. The monthly maintenance fees include gas, water, sewer, common area maintenance, common area electricity, and association insurance. Hilo Terrace is located blocks from downtown Hilo and is right next door to Hilo Intermediate and High Schools. It is also close to shopping, beaches, doctors, the hospital and airport.

485 Waianuenue Ave Unit D-219, HILO

Listing courtesy of Century 21 Homefinders of Hawaii.

$160,000
2 Beds ⋅ 1 Baths ⋅ 731309 MLS ⋅ ['Leasehold'] Tenure ⋅ Hilo Terrace BLDG.
This is a leasehold property. Welcome to this gorgeous two-bedroom, one-bathroom condo in the desirable Hilo Terrace community, offering the perfect mix of island charm and city convenience. The living room glows with gorgeous natural light, leading into a super cute kitchen layout complete with hardwood cabinets, a fridge and a stove, and plenty of room to whip up your favorite meals. Enjoy spacious bedrooms with large closets and windows that open. There are an additional two closets in the condo to help handle all your storage goals. Location perks abound as you are situated directly across the street from local schools and just minutes from the bustling shops and eateries of downtown Hilo. Combining comfort with practicality, the property also features a pool, on-site trash disposal, municipal water, available mail service and a laundry facility. Fully furnished and move-in ready. Furniture can be purchased for an additional fee. HOA fees are about $750, which includes: HOA fees, reserve fee, gas, water, trash, and leasehold fee. Electrical is additional but billed through the monthly HOA statement Leasehold: This is a leasehold, meaning there is a $100/month leasehold fee to cover the lease fee, which can be purchased for an additional $55,000 +/-

485 Waianuenue Ave Unit 122, HILO

Listing courtesy of Bizwala.

$254,500
2 Beds ⋅ 1 Baths ⋅ 730196 MLS ⋅ ['Fee Simple'] Tenure ⋅ Hilo Terrace BLDG.
Well-located 2-bedroom, 1-bath condominium offering exceptional convenience to downtown Hilo. This larger-than-average unit is turnkey and furnished, featuring vinyl flooring, kitchen cabinetry and appliances, and a well-maintained bathroom—ideal for immediate occupancy or rental potential. Positioned in desirable Building K, the unit enjoys close proximity to the community pool, shared laundry facilities, and mailboxes—adding a high level of everyday convenience within the complex. Situated near key amenities including the public library, elementary through high schools, parks, the Boys & Girls Club, post office, dining options, medical facilities, and Bayfront beaches—providing easy access to daily essentials and recreation. The complex features an on-site manager, secured mailboxes, a swimming pool refurbished in 2019, and shared laundry facilities. The assigned parking stall is located in a recently asphalted lot. Monthly maintenance fees cover gas, water, sewer, common area electricity, association insurance, and upkeep of shared spaces. Electricity and trash service are billed separately. Cable, internet, and phone services are the responsibility of the owner or tenant.

485 Waianuenue Ave Unit 249, HILO

Listing courtesy of Hokulani Realty LLC.

$199,000
2 Beds ⋅ 1 Baths ⋅ 729758 MLS ⋅ ['Fee Simple'] Tenure ⋅ Hilo Terrace BLDG.
Location, location, location. This charming 2-bedroom, 1-bathroom Hilo Terrace Condominium offers comfortable living just up the road from Downtown Hilo. You’ll find restaurants, schools, grocery store, a hospital, Rainbow Falls, and Hilo Bay, approximately within a mile. Residents can also enjoy access to a refreshing swimming pool, perfect for relaxation and recreation. Some units in this complex have an STVR permit and it may be possible to get one. This property is Ideal for those seeking easy access to essential amenities and natural attractions alike. It could provide a balanced lifestyle in a convenient location Don’t miss the opportunity to make this your new home or rental investment.

485 Waianuenue Ave Unit 113, HILO

Listing courtesy of Property Professionals Hawaii LLC..

$275,000
2 Beds ⋅ 1 Baths ⋅ 728545 MLS ⋅ ['Fee Simple'] Tenure ⋅ Hilo Terrace BLDG.
Check out this thoughtfully and tastefully renovated unit at Hilo Terrace! Being sold furnished, this 2-bedroom, 1-bath condo is move-in ready and located in the highly desirable Building K, where units are larger than those found in the other buildings within the complex. Recent upgrades include a fresh coat of paint, new flooring throughout, ceiling fans added in the bedrooms, updated bathroom fixtures, and a completely remodeled kitchen that has been reconfigured for both style and functionality. It's no wonder it is booked often as a Short-Term Vacation Rental (STVR) - visitors love staying at Hale Maile! Enjoy the convenience of being just steps from the community pool, laundry facilities, and mailboxes. On clear Hilo days, you’ll also appreciate stunning views of Mauna Kea. Ideally located within walking distance to downtown, the property is close to the hospital, schools, post office, parks, and the popular Hilo Farmers Market. The monthly maintenance fee covers common area electricity, gas, water, and upkeep of the shared grounds. Individual electricity usage and trash service are billed separately.

485 Waianuenue Ave Unit K248, HILO

Listing courtesy of Hokulani Realty LLC.

$259,000
2 Beds ⋅ 1 Baths ⋅ 727553 MLS ⋅ ['Fee Simple'] Tenure ⋅ Hilo Terrace BLDG.
Arguably the nicest unit in the entire complex. If you're looking for a move in ready unit with a great central location in Hilo, look no further. This unit has been totally remodeled with redone walls and ceilings, new laminate flooring, new wiring, plumbing and light fixtures. The Kitchen features all new soft close cabinets, solid surface Quartzite countertops and all new stainless steel appliances. The bathroom has also been redone with brand new vanity, lighting and tub/shower. This incredible unit also comes fully furnished so whether you're looking for a move in ready home or investment property, this is as turnkey as they come! Amenities also include guest parking, swimming pool, secure mailboxes and on site laundary facilities. Monthly Maintenance fees include reserve fee, trash service, water, sewer, ground maintenance. Owners are responsible for their own prorated share of electricity cost.

485 Waianuenue Ave Unit 233, HILO

Listing courtesy of Coldwell Banker Island Properties - Hilo.

$595,000
4 Beds ⋅ 4 Baths ⋅ 202600583 MLS ⋅ FS - Fee Simple Tenure
Currently installing a new roof and updating front lanai with both front and back railings being updated. Recent electrical updates are complete and scheduling plumbing updates. This Classic style home is in a great location in the heart of Hilo town walking distance to the town's famous farmer's market and recreation areas of Lincoln park, tennis courts, Mo'oheau park and Bayfront. The Central fire station is just a block away along with restaurants, grocery stores, gas stations, and medical, bank, office, and professional services buildings. The home features 3 bedrooms upstairs each with their own private bathroom with a large front lanai entrance with beautiful ocean views of Hilo's famous Bayfront. The upstairs front door enters you into a quaint front living room with the kitchen at the end of the hallway with its own private back lanai. The upstairs unit has 9 foot ceilings and hardwood floors with the old vintage design of yesteryear. The downstairs studio is large and spacious and has a unique and spacious bathroom with tile floors. Rental info: Upstairs $2,500 + utilities month to month, back downstairs $850/mo now vacant.

301 Ponahawai Street, Hilo

Listing courtesy of Compass.

$595,000
4 Beds ⋅ 4 Baths ⋅ 720363 MLS ⋅ ['Fee Simple'] Tenure
New roof replacement and front lanai floor newly updated and painted with both front and back railings update complete. Recent electrical updates are complete and scheduling plumbing updates. This Classic style home is in a great location in the heart of Hilo town walking distance to the town's famous farmer's market and recreation areas of Lincoln park, tennis courts, Mo'oheau park and Bayfront. The Central fire station is just a block away along with restaurants, grocery stores, gas stations, and medical, bank, office, and professional services buildings. The home features 3 bedrooms upstairs each with their own private bathroom with a large front lanai entrance with beautiful ocean views of Hilo's famous Bayfront. The upstairs front door enters you into a quaint front living room with the kitchen at the end of the hallway with its own private back lanai. The upstairs unit has 9 foot ceilings and hardwood floors with the old vintage design of yesteryear. The downstairs studio is large and spacious and has a unique and spacious bathroom with tile floors. Upstairs 3/3 and back downstairs studio units previously rented long term ($2,500 plus utilities and $850 a month respectively) and possible bottom front unit available (currently an office with its own bathroom with shower) for new owner or to rent out as well.

301 Ponahawai St, HILO

Listing courtesy of COMPASS.

$365,000
9 Beds ⋅ 3 Baths ⋅ 202518347 MLS ⋅ FS - Fee Simple Tenure
High-Cash-Flow Investment in Downtown Hilo –Now $495,500 Hoku Street,Hilo,HI 96720 This Downtown Hilo property offers strong income and even higher potential through room-by-room rentals. Homes rented by the room typically earn significantly more monthly income, provide more stable cash flow, and generate higher long-term returns. With 9 rentable rooms, 3 bathrooms, and 2 full kitchens (upstairs and downstairs), the property is already producing solid revenue and can be improved further. Income & ROI: • Current gross income: $70,000–$80,000+ per year • At $495,500 — gross ROI of 13.1% at $70K/year or 15% at $80K/year • Opportunity to increase ROI through optimized room-by-room rentals • Additional tax benefits from depreciation and write-offs • Multi-tenant setup reduces vacancy risk and enhances income stability Why Room-by-Room Works Well Here: • Higher total income than whole-house rentals • Strong demand from students, workers, and medical professionals • Ideal for investors seeking high NOI and rent per square foot • Flexible layout suited for shared housing, workforce rentals, or multi-family use

82 Hoku Street Unit D, Hilo

Listing courtesy of Nathalie Mullinix R. U., Inc..

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.