1104 Palama St, Honolulu, HI, 96817
About This Home
Mixed-use investment opportunity in Kalihi featuring two buildings and nine residential rooms. The ground floor commercial unit has a CUP in place with roll-up door access and direct street frontage — suitable for retail, grocery, or light industrial use. Building B is currently occupied generating $4,000/month. Building A is actively under renovation. Priced at $1,500,000 with a stabilized cap rate of 7.8–9.0%. The surrounding Kalihi corridor has strong long-term redevelopment fundamentals. Conditional Use Permit (CUP) — Protected Commercial Use The commercial unit carries a CUP, securing its legal commercial operating status within the R-5 residential zone. This rare entitlement protects lender and tenant confidence and is a meaningful differentiator at this price point.
Getting Around
Very Walkable
Excellent Transit
BikeableSchools
Construction
Condition
- Property condition: Average Condition,Updated/Remodeled
- Year built: 1905
Materials
- Construction materials: Wood Frame
Notable Dates
- Major remodel year: 2025
Type & Style
- Home type: MultiFamily
- Architectural style: Multi-Family,Multiplex
- Property subType: Single Family Residence
Interior
Bedrooms & Bathrooms
- Bedrooms: 5
- Bathrooms: 2
- Full bathrooms: 2
Features
- Flooring: Vinyl
Interior Area
- Total structure area: 3,296
- Total interior livable area: 3,296 sqft
Property
Details
- Parcel number: 1160010190000
- Zoning description: 05 - R-5 Residential District
- Special condition: None
Features
- Levels: Two
- Stories: 2
- Pool features: None
- Has view: Yes
- View description: City
- Frontage type: Other
- Topography of land: Level
Lot
- Features: Cleared,Corner Lot,Level
Parking
- Total spaces: 4
- Parking features: Three or more Spaces
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Lightning
- Earthquake
- Inland Flooding
How This Home’s Risks Compare
FEMA Declared Disasters Across Hawaii Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $7,534 | $90,408 |
| Home Insurance * | $195 | $2,340 |
| Property Taxes | $1,522 | $18,264 |
| Electricity | $1,061 | $12,736 |
| Total | $10,312 | $123,744 |
Income You'd Need if You Spent...
Hawaii FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-01 | Price change | $1,490,000 |
| 2026-06-26 | Listed for sale | $1,500,000 |
| 2025-06-03 | Listing removed | $1,150,000 |
| 2025-02-21 | Listed for sale | $1,150,000 |
| 2016-01-29 | Sold | $830,000 |
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