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1156 Alewa Drive, Honolulu, HI 96817
An extremely attractive residential offering to acquire 3 detached dwellings, all located on a single parcel in Honolulu. The property offers stable cash flow combined with low maintenance costs and strong appreciation potential. 2025 renovations make this offering ideal for 1031 exchange or investors seeking stable NOI and low operating costs. 2 rental units provide immediate income of $5,750/mo. incl. GET plus potential income of $3,400/mo. incl. GET from the 3rd home for a total of $9,150/mo. in income. A rare multi-family investment with high rental demand and reduced management intensity compared to larger multi-family properties. Each house offers 2 bedrooms and 1 bathroom, separate electric meter, small private yard, remodeled kitchen with new appliances and flooring. Gently sloped parcel in a desirable neighborhood, located close to schools and restaurants, with views of the ocean, downtown Honolulu, and Diamond Head. The roofs are in good condition, with newer exterior storage and a covered carport. Please contact Listor for showing and do not disturb tenants or park in driveway. A few photos have been virtually staged(enhanced).
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Multi-family details
1939 year built
- Year Built 1939
- Year Remodeled 2025
- Days on market 42
- Price per sqft $708/sqft
-
Address
1156 Alewa Drive, Honolulu, HI, 96817
- Neighborhood Alewa Heights
- Land tenure FS - Fee Simple
- Land SqFt 8,052 sqft
- View City, Diamond Head, Ocean
- Virtual Tour View (external link)
Open Houses
No upcoming open houses
Monthly payment
Calculate your monthly payments
Mortgage
$8,643
Taxes
$372
HOA dues
$0
Mortgage
Down payment
$339,000 / 20%
Interest rate
6.58%
Loan type
30 years
Your amount
$8,643 / month
Neighborhood: Alewa Heights
Nearby & commute
Walkability
Coffee shops
—
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
—
no data
Park
—
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
—
no data
14.33 / 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
Unit Information
3 total units
# of 1 Bd
0
# of 2 Bd
0
# of 3 Bd
0
Total Units
3
Amenities & Features
5 parking places
Stories
One
Furnished
None
Construction
Above Ground, Hollow Tile, Single Wall, Slab, Wood Frame
Utilities
Gas, Overhead Electricity, Public Water
Property Condition
Above Average
Parking
Covered, Open, Tandem
nr.of parking places
5
Amenities
Storage
Income
—
Total Actual Rent
Total Annual Operating Expenses
Total Income
Net Operating Income
Alewa Heights prices
Average price $755.59k
Neighborhood average sales price*
$755.59k
Neighborhood median sales price*
$705k
Number or sales*
21
Street median sales price*
$695k
*last 6 months
Schools
15 schools in this area
| School rating | Distance | |
|---|---|---|
|
Grace Bible Christian School
1052 Ilima Drive,
Honolulu, HI 96817
Elementary School
|
0.185mi | |
|
Academy Of The Pacific
913 Alewa Drive,
Honolulu, HI 96817
Middle School
|
0.242mi | |
|
Academy Of The Pacific
913 Alewa Drive,
Honolulu, HI 96817
High School
|
0.242mi |
| School rating | Distance | |
|---|---|---|
|
Grace Bible Christian School
1052 Ilima Drive,
Honolulu, HI 96817
|
0.185mi | |
|
Maemae Elementary School
319 Wyllie St,
Honolulu, HI 96817
|
0.576mi | |
|
Waolani Judd Nazarene School
408 Judd Street,
Honolulu, HI 96817
|
0.64mi | |
|
Lanakila Elementary School
717 North Kuakini St,
Honolulu, HI 96817
|
0.667mi | |
|
Hawaii Baptist Academy
2429 Pali Highway,
Honolulu, HI 96817
|
0.752mi |
| School rating | Distance | |
|---|---|---|
|
Academy Of The Pacific
913 Alewa Drive,
Honolulu, HI 96817
|
0.242mi | |
|
Maemae Elementary School
319 Wyllie St,
Honolulu, HI 96817
|
0.576mi | |
|
Waolani Judd Nazarene School
408 Judd Street,
Honolulu, HI 96817
|
0.64mi | |
|
Hawaii Baptist Academy
2429 Pali Highway,
Honolulu, HI 96817
|
0.752mi | |
|
St. Theresa School
712 North School Street,
Honolulu, HI 96817
|
0.795mi |
| School rating | Distance | |
|---|---|---|
|
Academy Of The Pacific
913 Alewa Drive,
Honolulu, HI 96817
|
0.242mi | |
|
Hawaii Baptist Academy
2429 Pali Highway,
Honolulu, HI 96817
|
0.752mi | |
|
Kamehameha Schools Kapalama Campus
1887 Makuakane Street,
Honolulu, HI 96817
|
0.845mi | |
|
Damien Memorial School
1401 Houghtailing Street,
Honolulu, HI 96817
|
0.893mi | |
|
Governor Wallace Rider Farrington High School
1564 North King St,
Honolulu, HI 96817
|
1.266mi |
School ratings provided by Greatschools.org
© 2023. All rights reserved.
Price history
Rented May 5, 2023
| Date | Event | Price | $/sqft | Source |
|---|---|---|---|---|
| May 5, 2023 | Rented | $2,000 | $0.84 | MLS #202306105 |
| Apr 11, 2023 | Price Decrease | $2,000 -4.76% | $0.84 | MLS #202306105 |
| Mar 12, 2023 | New Listing rental | $2,100 +16.67% | $0.88 | MLS #202306105 |
| May 28, 2020 | Rented | $1,800 | $0.75 | MLS #202011006 |
| May 14, 2020 | New Listing rental | $1,800 | $0.75 | MLS #202011006 |
| Dec 6, 2019 | Rented | $1,800 | $0.75 | MLS #201932537 |
| Nov 26, 2019 | Price Decrease | $1,800 -5.26% | $0.75 | MLS #201932537 |
| Nov 14, 2019 | New Listing rental | $1,900 -5% | $0.79 | MLS #201932537 |
| May 13, 2019 | Rented | $2,000 | $0.84 | MLS #201910324 |
| Apr 9, 2019 | New Listing rental | $2,000 -9.09% | $0.84 | MLS #201910324 |
| Jan 1, 2019 | Expired | $2,200 | $0.92 | MLS #201829217 |
| Nov 9, 2018 | New Listing rental | $2,200 +22.22% | $0.92 | MLS #201829217 |
| Aug 14, 2018 | Rented | $1,800 | $0.75 | MLS #201817686 |
| Jul 6, 2018 | New Listing rental | $1,800 -5.26% | $0.75 | MLS #201817686 |
| May 26, 2015 | Rented | $1,900 | $0.79 | MLS #201508677 |
| May 21, 2015 | New Listing rental | $1,900 | $0.79 | MLS #201508677 |
Tax & MLS details 1156 Alewa Drive, Honolulu, HI, 96817
MLS #202604529
Current Property Taxes p/month
$372
Assessed Improvement value
$242,200
TMK
1-1-8-033-022-0000
Flood Zone
Zone X
Topography
Gentle Slope,Level,Up Slope
Lot Description
Irregular
Total Assessed value
$1,315,300
Listed by
REMAX Hawaii
(808) 738-3600
(808) 738-3600
MLS #
202604529
Hawaii House tour report for this multi-family home
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Stunning views
Ocean views
Open floorplan
Needs Work
Street noise
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Frequently asked questions for 1156 Alewa Drive
When was this multi-family home built and last sold?
This house was build in 1939.
What is the full address of this multi-family home?
1156 Alewa Drive, Honolulu, HI, 96817.
Are there beaches near 1156 Alewa Drive?
No, there aren't.
Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Copyright 2026 by HiCentral Mls, Ltd. Listing courtesy of REMAX Hawaii. 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 April 14, 2026.
Hawaii House Last checked 1 week ago.
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