254 Kaiulani Avenue

Honolulu, HI 96815

Rarely available apartment building in Waikiki, offering strong income potential and long-term value in one of Honolulu’s most desirable rental markets. Current rents are below market, creating excellent upside potential. This well-maintained solid hollow-tile structure features a classic tiled exterior and covered parking. Each unit is individually metered for electricity with a shared water meter. All residences offer generous interior space with private lanais or patios. The property consists of one expansive 3-bedroom, 2-bath penthouse and fourteen 1-bedroom units. Interior upgrades have been completed throughout, including durable high-quality tile flooring, updated kitchens, modernized bathrooms, and newly refurbished railings. Additional monthly revenue is generated from leased coin-operated laundry machines and parking income. Pro forma rental income analysis is available. In 2025, the entire property underwent a plumbing inspection and repair process.