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287 Wai Nani Way, Honolulu, HI 96815
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
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
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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
—
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
13.33 / 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
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 | |
|---|---|---|
|
President Thomas Jefferson Elementary School
324 Kapahulu Ave,
Honolulu, HI 96815
Elementary School
|
0.09mi | |
|
Waikiki Elementary School
3710 Leahi Ave,
Honolulu, HI 96815
Middle School
|
0.179mi | |
|
Hawaii School For The Deaf And Blind
3440 Leahi Ave,
Honolulu, HI 96815
High School
|
0.237mi |
| School rating | Distance | |
|---|---|---|
|
President Thomas Jefferson Elementary School
324 Kapahulu Ave,
Honolulu, HI 96815
|
0.09mi | |
|
Jefferson School Orthopedic Unit
324 Kapahulu Ave,
Honolulu, HI 96815
|
0.145mi | |
|
Waikiki Elementary School
3710 Leahi Ave,
Honolulu, HI 96815
|
0.179mi | |
|
Hawaii School For The Deaf And Blind
3440 Leahi Ave,
Honolulu, HI 96815
|
0.237mi | |
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
|
0.759mi |
| School rating | Distance | |
|---|---|---|
|
Waikiki Elementary School
3710 Leahi Ave,
Honolulu, HI 96815
|
0.179mi | |
|
Hawaii School For The Deaf And Blind
3440 Leahi Ave,
Honolulu, HI 96815
|
0.237mi | |
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
|
0.759mi | |
|
La Pietra Hawaii School For Girls
2933 Poni Moi Road,
Honolulu, HI 96815
|
0.941mi | |
|
St Patrick School
3320 Harding Avenue,
Honolulu, HI 96816
|
1.07mi |
| School rating | Distance | |
|---|---|---|
|
Hawaii School For The Deaf And Blind
3440 Leahi Ave,
Honolulu, HI 96815
|
0.237mi | |
|
Iolani School
563 Kamoku St,
Honolulu, HI 96826
|
0.759mi | |
|
Kaimuki High School
2705 Kaimuki Ave,
Honolulu, HI 96816
|
0.838mi | |
|
La Pietra Hawaii School For Girls
2933 Poni Moi Road,
Honolulu, HI 96815
|
0.941mi | |
|
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 |
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
(808) 284-1010
MLS #
202519531
Hawaii House tour report for this multi-family home
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Stunning views
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Open floorplan
Needs Work
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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.
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