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287 Wai Nani Way, Honolulu, HI, 96815
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287 Wai Nani Way, Honolulu, HI 96815

$4,880,000 Multi-Family Home for sale 7,300 sqft Neighborhood:  Waikiki
Exceptional rental income and low operating costs make this a rare investment opportunity in Waikiki’s residential neighborhood. This turnkey 3-story walk-up comprises 13 units: nine 2BD/1BA plus four 1BD/1BA, each with a private lanai. Well-kept and low-maintenance, the property is positioned in one of Honolulu’s most reliable rental markets. Features include community coin-operated laundry, individual electrical metering for tenant-paid power. Parking is available with a three-car front carport, plus two tandem spaces in a secondary carport accessed via the driveway. Units have been updated upon turnover, ensuring the building remains in excellent condition with strong occupancy, consistent rental income, and long-term tenants. Set in the quieter, less trafficked section of Waikiki, residents enjoy walkable access to world-class beaches, dining, shopping, and recreation, as well as convenient transit connections. This combination of stable income, efficient operations, and an unbeatable location makes the property a standout investment in Honolulu’s steady multifamily market.
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Multi-family details

1963 year built
  • Year Built 1963
  • Year Remodeled 2023
  • Days on market 89
  • Price per sqft $668/sqft
  • Address

    287 Wai Nani Way, Honolulu, HI, 96815

  • Neighborhood Waikiki
  • Land tenure FS - Fee Simple
  • Land SqFt 5,760 sqft
  • View City

Open Houses

No upcoming open houses

Monthly payment

Calculate your monthly payments
Mortgage
$24,882
Taxes
$864
HOA dues
$0
$25,746 per month
Mortgage
Down payment
$976,000 / 20%
Interest rate
6.58%
Loan type
30 years
Your amount $24,882 / month

Neighborhood: Waikiki

Nearby & commute
Walkability
Coffee shops
no data
Bus stop
no data
Supermarket
no data
Costco
no data
Hospital
no data
Park
no data
Beach
no data
Elementary school
no data
Middle school
no data
High school
no data
Local airport
no data
13.33 / 20
Somewhat walkable
18-20
15-18
10-15
1-10
Walkability according to the National Walkability Index

Unit Information

13 total units
# of 1 Bd
0
# of 2 Bd
0
# of 3 Bd
0
Total Units
13

Amenities & Features

7 parking places
Stories
Three
Furnished
Partial
Construction
Hollow Tile
Utilities
Cable, Internet, Public Water, Sewer Fee, Telephone, Underground Electricity, Water
Property Condition
Excellent
Parking
Assigned, Covered, Tandem
nr.of parking places
7
Amenities
None

Income

Total Actual Rent
Total Annual Operating Expenses
Total Income
Net Operating Income

Waikiki prices

Average price $1.35m
Neighborhood average sales price*
$1.35m
Neighborhood median sales price*
$927.5k
Number or sales*
218
Median sale price 801 South St*
$685.94k
*last 6 months

About Waikiki

Waikiki Condos & neighborhood info When it comes to finding a home in a lively, picturesque setting, it's hard to beat the allure of Waikiki condos. Situated along the stunning shores of Oahu, Waikiki is a bustling neighborhood in Honolulu that boasts Read more

Schools

15 schools in this area
School rating Distance
NR
President Thomas Jefferson Elementary School
324 Kapahulu Ave, Honolulu, HI 96815
Elementary School
0.09mi
NR
Waikiki Elementary School
3710 Leahi Ave, Honolulu, HI 96815
Middle School
0.179mi
NR
Hawaii School For The Deaf And Blind
3440 Leahi Ave, Honolulu, HI 96815
High School
0.237mi
School rating Distance
NR
President Thomas Jefferson Elementary School
324 Kapahulu Ave, Honolulu, HI 96815
0.09mi
NR
Jefferson School Orthopedic Unit
324 Kapahulu Ave, Honolulu, HI 96815
0.145mi
NR
Waikiki Elementary School
3710 Leahi Ave, Honolulu, HI 96815
0.179mi
NR
Hawaii School For The Deaf And Blind
3440 Leahi Ave, Honolulu, HI 96815
0.237mi
NR
Iolani School
563 Kamoku St, Honolulu, HI 96826
0.759mi
School rating Distance
NR
Waikiki Elementary School
3710 Leahi Ave, Honolulu, HI 96815
0.179mi
NR
Hawaii School For The Deaf And Blind
3440 Leahi Ave, Honolulu, HI 96815
0.237mi
NR
Iolani School
563 Kamoku St, Honolulu, HI 96826
0.759mi
NR
La Pietra Hawaii School For Girls
2933 Poni Moi Road, Honolulu, HI 96815
0.941mi
NR
St Patrick School
3320 Harding Avenue, Honolulu, HI 96816
1.07mi
School rating Distance
NR
Hawaii School For The Deaf And Blind
3440 Leahi Ave, Honolulu, HI 96815
0.237mi
NR
Iolani School
563 Kamoku St, Honolulu, HI 96826
0.759mi
NR
Kaimuki High School
2705 Kaimuki Ave, Honolulu, HI 96816
0.838mi
NR
La Pietra Hawaii School For Girls
2933 Poni Moi Road, Honolulu, HI 96815
0.941mi
NR
St Louis School
3142 Waialae Avenue, Honolulu, HI 96816
1.12mi
School ratings provided by Greatschools.org © 2023. All rights reserved.

Price history

Expired Oct 26, 2024
Date Event Price $/sqft Source
Oct 26, 2024 Expired $4,988,000 $683.29 MLS #202324401
Sep 24, 2024 Price Decrease $4,988,000 -3.15% $683.29 MLS #202324401
Feb 9, 2024 Price Decrease $5,150,000 -2.46% $705.48 MLS #202324401
Oct 25, 2023 New Listing $5,280,000 $723.29 MLS #202324401
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Tax & MLS details 287 Wai Nani Way, Honolulu, HI, 96815

MLS #202519531
Current Property Taxes p/month
$864
Assessed Improvement value
$754,700
TMK
1-2-6-028-043-0000
Flood Zone
Zone X
Topography
Level
Lot Description
Clear
Total Assessed value
$2,962,200
Listed by
Real Estate Strategies, LLC
(808) 284-1010
MLS #
202519531
Hawaii House tour report for this multi-family home
No reviews yet
Stunning views
Ocean views
Open floorplan
Needs Work
Street noise
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Frequently asked questions for 287 Wai Nani Way

When was this multi-family home built and last sold?

This house was build in 1963.

What is the full address of this multi-family home?

287 Wai Nani Way, Honolulu, HI, 96815.

Are there beaches near 287 Wai Nani Way?

No, there aren't.

Based on information from the Multiple Listing Service of HiCentral MLS, Ltd. Copyright 2025 by HiCentral Mls, Ltd. Listing courtesy of Real Estate Strategies, LLC. 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 October 13, 2025.
Hawaii House Last checked less than a minute ago.

Multi-Family Home for sale $4,880,000 287 Wai Nani Way, Honolulu, HI, 96815 7,300 sqft Save House Remove from Saved