Rare income-producing duplex walking distance to Downtown Hilo. Two spacious 2-bedroom, 1-bath units, each with upgraded electrical and plumbing, make this a smart choice for owner-occupants looking to offset housing costs or investors seeking a low-maintenance rental property. The duplex has performed well as both a long-term and hosted vacation rental. The upstairs unit has plantation-era charm with 9' ceilings, large double-hung windows, and a front lanai that overlooks mature tropical landscaping. Inside, the open kitchen and living area have been updated with granite countertops, new fixtures, and engineered hardwood floors. The kitchen includes a gas range and ample counter space, with a stacked washer/dryer tucked into the pantry. Two well-sized bedrooms share a full hall bathroom. R-30 attic insulation and Hilo breezes keep the temperature comfortable year-round. The property has piped propane gas, an uncommon feature in Hilo that helps keep utility costs low. A walking path leads to the lower unit, which opens into a screened lanai. Recent updates to this unit include vinyl flooring, drywall, fresh paint, LED lighting, and modern fixtures. The bright full bathroom features custom tile work. A hall closet provides extra storage, with in-unit laundry. A full-height basement sits below. The backyard is private and lush, with tropical foliage, a grassy area, and mature citrus. Situated on Lehua Street just over the Wailuku River in lava zone 8, the property is walkable to Downtown Hilo restaurants, K-12 public schools, the Farmers Market, public library, Kapalaoa Landing Beach Park, and the Bayfront recreation area.
Seldom presented opportunity to acquire 2 great homes in this area. Several possible uses: a multi-generational family to live next to each other; live in one and rent the other or rent both and generate good rental income. Both homes have been very well maintained and updated. Don't overlook this gem.
Nice rental property in Hilo. All units have been renovated and are rented. Three individual and separate rentals with carports. One TMK# makes for easy management. Good tenants, good income. Subdivision possible. Renovations on all three units: New roofing & refinished in some areas New countertops, Quartz in unit B New paint, interior and exterior New windows in unit B New bathrooms New flooring New lighting, fans New hardware New faucets New carpentry work throughout Fumigation was completed. All units have a separate electric meter installed by HELCO. Excellent rent roll. The 3 structures are permitted and were built previously to Hawaii county building code in 1976 and are considered legal non-conforming use which does not need a variance from Hawaii county. See the attached addenda from the county confirming this. Also, there is a Survey attached. Please schedule showings for after 10:30 am
Two beautifully renovated homes are nestled on a cleared and thoughtfully improved 0.7-acre lot. This unique property features two fully updated residences, offering flexibility, privacy, and excellent income potential. With quick access to Saddle Road, commuting is easy, and the location is just minutes from Hilo town—shopping, dining, schools, and everyday conveniences—while still enjoying the cooler elevations and lush surroundings Kaumana is known for. From inside the main home, the view through the windows feels like you’re immersed in a tropical forest. The rear of the property borders a seasonal stream, bringing the soothing sound of running water during rainfall—a peaceful, nature-filled backdrop that’s hard to find. The second home is ideal for extended family, visiting guests, or rental income. Endless Possibilities • Ideal for multi-generational living — young family in the larger home with parents close by. • Live in the main home and rent the second home as a short-term vacation rental or to traveling nurses. • Excellent opportunity to generate supplemental income. Main Home ~ 2,000 Sq. Ft. • 4 Bedrooms 2 Bathrooms. • Brand new kitchen with modern finishes. • Fully renovated bathrooms. • New flooring throughout. • New plumbing. • New windows. • New open concept. • Fresh interior and exterior paint. • New water heater. Second Home ~ 800 Sq. Ft. • 2 Bedrooms 1 Bathroom. • Completely remodeled kitchen and bath. • New flooring. • Fresh interior and exterior paint. • New water heater. Property Highlights • Set back from the street for added privacy. • Quiet and serene setting. • Lot has been cleared with select trees removed for usability while maintaining a tropical feel. • Move-in ready — everything has been beautifully renovated. This is more than just a property — it’s a lifestyle. Privacy, nature, flexibility, and income potential all in one stunning package.
Unique investment opportunity in the heart of Hilo featuring two separate homes on one lot, offering flexibility for multi-generational living or rental income. Surrounded by a mix of residential and commercial properties, there may be potential to pursue commercial zoning (buyers to verify with the County) The first home, a charming multi-level residence (white home), was originally built in 1932 and refreshed in 2020, featuring two bedrooms and two bathrooms (one ¾ bath and one ¼ bath). The second dwelling, a yellow multi-level home built in 1985, offers two bedrooms and one full bathroom on the upper level, with an additional bedroom and ¾ bathroom on the lower level. This versatile property presents multiple possibilities for investors or owner-occupants alike — generate rental income from both homes, live in one while renting the other, or accommodate multi-generational living. Conveniently located just minutes from shopping, dining, and outdoor recreation, including the nearby Hilo Shopping Center and Wailoa State Park. **Information herein is based on county records and may not reflect actual property details. Buyers and buyer’s agents are advised to independently verify all material facts deemed important to their purchase.**
High-Cash-Flow Investment in Downtown Hilo –Now $395,000 Hoku Street,Hilo,HI 96720 This Downtown Hilo property offers strong income and even higher potential through room-by-room rentals. Homes rented by the room typically earn significantly more monthly income, provide more stable cash flow, and generate higher long-term returns. With 9 rentable rooms, 3 bathrooms, and 2 full kitchens (upstairs and downstairs), the property is already producing solid revenue and can be improved further. Income & ROI: • Current gross income: $70,000–$80,000+ per year • At $395,000 — gross ROI of 13.1% at $70K/year or 15% at $80K/year • Opportunity to increase ROI through optimized room-by-room rentals • Additional tax benefits from depreciation and write-offs • Multi-tenant setup reduces vacancy risk and enhances income stability Why Room-by-Room Works Well Here: • Higher total income than whole-house rentals • Strong demand from students, workers, and medical professionals • Ideal for investors seeking high NOI and rent per square foot • Flexible layout suited for shared housing, workforce rentals, or multi-family use Property Details: • 9 total rooms • 3 bathrooms • 2 full kitchens • Flexible layout for shared housing or rentals • Potential to raise rental value with updates Prime Downtown Hilo Location — walking distance to major employers, hospitals, colleges, stores, restaurants, beaches, parks, and public transportation. High rental demand and rare availability in this area.
Hilo is located in Hawaii. Hilo, Hawaii has a population of 46,559. Hilo is less family-centric than the surrounding county with 24.55% of the households containing married families with children. The county average for households married with children is 25.67%.
The median household income in Hilo, Hawaii is $70,356. The median household income for the surrounding county is $68,399 compared to the national median of $69,021. The median age of people living in Hilo is 39.9 years.
The average high temperature in July is 81 degrees, with an average low temperature in January of 63 degrees. The average rainfall is approximately 143.1 inches per year, with 0 inches of snow per year.
