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3040 Waialae Ave, Honolulu, HI 96816
Prime Commercial Property Investment Opportunity Located in the Heart of Kaimuki | Near UH Manoa | Across from City Mill Kaimuki Presenting a rare opportunity to acquire a high-performing commercial asset in one of Honolulu’s most dynamic and desirable neighborhoods — Kaimuki. This offering consists of two adjacent lots (TMK: 1-2-8-028-037), which must be sold together, and the listing price is the combined price of the two lots.
Property Highlights: 6 commercial units currently occupied by 5 restaurants and 1 hair salon. Recently one vacant, 20 on-site parking stalls — a rare amenity in this high-traffic area Current Cap Rate: 4.5% Zoning and location support strong long-term potential for rent growth and property value appreciation Ideally situated just minutes from the University of Hawai‘i at Manoa and directly across the street from City Mill Kaimuki, this property benefits from constant foot traffic, local demand, and excellent visibility.
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Details
1955 year built
- Year Built 1955
- Days on market 20
- Price per sqft $1,808/sqft
-
Address
3040 Waialae Ave, Honolulu, HI, 96816
- Frontage Main Street, Retail Mall
- Neighborhood University
- Land area 9,062 sqft / 0.208 acres
- Total Interior Area 4,949 sqft
- City of Oahu Honolulu
- Region Honolulu
- Island Oahu
- Land tenure FS - Fee Simple
- Number of Units 6
- Parking Spaces 20
Open Houses
No upcoming open houses
Monthly payment
Calculate your monthly payments
Mortgage
$45,634
Taxes
$1,290
HOA dues
$0
Mortgage
Down payment
$1,790,000 / 20%
Interest rate
6.58%
Loan type
30 years
Your amount
$45,634 / month
Neighborhood: University
Nearby & commute
Walkability
Coffee shops
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no data
Bus stop
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no data
Supermarket
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no data
Costco
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no data
Hospital
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no data
Park
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no data
Beach
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no data
Elementary school
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no data
Middle school
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no data
High school
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no data
Local airport
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no data
14 / 20
Somewhat walkable
►
18-20
Most Walkable
15-18
Very walkable
10-15
Somewhat walkable
1-10
Car dependent
Walkability according to the National Walkability Index
Amenities & Features
20 parking places, Concrete floors
Property Condition
Above Average
Construction/Exterior Finish
Brick
Floor Covering
Concrete
Easements
Other
Parking
On Site, Unassigned
Utilities Included
Gas, Large Water Meter
Amenities
Private Restroom
University prices
Average price $1.16m
Neighborhood average sales price*
$1.16m
Neighborhood median sales price*
$1.25m
Number or sales*
29
Street median sales price*
$1.1m
*last 6 months
Schools
15 schools in this area
| School rating | Distance | |
|---|---|---|
|
Aikane O Hokulani
2940 Kamakini St,
Honolulu, HI 96816
Elementary School
|
0.162mi | |
|
St Louis School
3142 Waialae Avenue,
Honolulu, HI 96816
Middle School
|
0.161mi | |
|
St Louis School
3142 Waialae Avenue,
Honolulu, HI 96816
High School
|
0.161mi |
| School rating | Distance | |
|---|---|---|
|
Aikane O Hokulani
2940 Kamakini St,
Honolulu, HI 96816
|
0.162mi | |
|
Hokulani Elementary School
2940 Kamakini St,
Honolulu, HI 96816
|
0.204mi | |
|
Aliiolani Elementary School
1240 7th Ave,
Honolulu, HI 96816
|
0.463mi | |
|
St Patrick School
3320 Harding Avenue,
Honolulu, HI 96816
|
0.485mi | |
|
Prince Jonah Kuhio Elementary School
2759 South King St,
Honolulu, HI 96826
|
0.546mi |
| School rating | Distance | |
|---|---|---|
|
St Louis School
3142 Waialae Avenue,
Honolulu, HI 96816
|
0.161mi | |
|
St Patrick School
3320 Harding Avenue,
Honolulu, HI 96816
|
0.485mi | |
|
Varsity International School
2617 South King St., 3-D,
Honolulu, HI 96826
|
0.676mi | |
|
Our Redeemer Lutheran School
2428 Wilder Avenue,
Honolulu, HI 96822
|
0.868mi | |
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
|
0.872mi |
| School rating | Distance | |
|---|---|---|
|
St Louis School
3142 Waialae Avenue,
Honolulu, HI 96816
|
0.161mi | |
|
Kaimuki High School
2705 Kaimuki Ave,
Honolulu, HI 96816
|
0.392mi | |
|
Varsity International School
2617 South King St., 3-D,
Honolulu, HI 96826
|
0.676mi | |
|
Lutheran High School Of Hawaii
1404 University Avenue,
Honolulu, HI 96822
|
0.805mi | |
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
|
0.872mi |
School ratings provided by Greatschools.org
© 2023. All rights reserved.
Price history
Cancelled Jun 27, 2021
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| Jun 27, 2021 | Cancelled | $150,000 | $30.31 | MLS #202115254 |
| Jun 14, 2021 | New Listing | $150,000 +500% | $30.31 | MLS #202115254 |
| Feb 12, 2013 | Expired | $25,000 | $5.05 | MLS #1201709 |
| Feb 13, 2012 | New Listing | $25,000 -70.59% | $5.05 | MLS #1201709 |
| Oct 30, 2008 | Expired | $85,000 | $17.18 | MLS #2807219 |
| Apr 29, 2008 | New Listing | $85,000 +183.33% | $17.18 | MLS #2807219 |
| Sep 11, 2007 | Sold | $30,000 -33.33% from last sold price | $6.06 | Public Record |
| Sep 8, 2007 | In Escrow - not showing | $45,000 | $9.09 | MLS #2714168 |
| Sep 8, 2007 | Active Under Contract | $45,000 | $9.09 | MLS #2714168 |
| Jul 31, 2007 | New Listing | $45,000 -35.71% | $9.09 | MLS #2714168 |
| May 14, 2002 | Expired | $70,000 | $14.14 | MLS #2201571 |
| Feb 13, 2002 | New Listing | $70,000 -17.65% | $14.14 | MLS #2201571 |
| Oct 30, 1996 | Expired | $85,000 | $17.18 | MLS #9891849 |
| Oct 22, 1996 | Price Decrease | $85,000 -10.53% | $17.18 | MLS #9891849 |
| Oct 16, 1996 | New Listing | $95,000 | $19.20 | MLS #9891849 |
Tax & MLS details 3040 Waialae Ave, Honolulu, HI, 96816
MLS #202525621
Current Property Taxes p/month
$1,290
Assessed Improvement value
$413,300
TMK
1-2-8-028-026-0000
Flood Zone
Zone X
Total Assessed value
$2,497,000
Listed by
HI Choice Realty
(808) 545-4989
(808) 545-4989
MLS #
202525621
Hawaii House tour report for this commercial
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Frequently asked questions for 3040 Waialae Ave
What is 3040 Waialae Ave?
3040 Waialae Ave is a Commercial/Industrial
How many units does it have?
3040 Waialae Ave has 6 units.
What is the rental income?
—
What is the full address of this commercial?
3040 Waialae Ave, Honolulu, HI, 96816.
What comparable properties are nearby?
Comparable nearby commercial properties include 2020 S King St, 927 Sheridan Street, 1079-1085 S Beretania Street, 1175 Hopaka St, 1542 Young Street, 915 Kekaulike Street.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Copyright 2025 by HiCentral Mls, Ltd. Listing courtesy of HI Choice Realty. Some active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company's active listing, you may speak to one of our agents regarding your options for representation. Hawaii House Inc. is a real estate brokerage firm licensed to conduct business in the State of Hawaii. Information deemed reliable, but not guaranteed.
Listings last updated on November 17, 2025.
Hawaii House Last checked 2 minutes ago.
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