75-195 Ala Onaona St, KAILUA KONA, HI 96740

Property Description

INVESTMENT OPPORTUNITY – 6% CAP RATE Rare Multi-Building Income Property in the Heart of Kailua-Kona Now offered is a unique investment opportunity to acquire two residential buildings situated in the desirable Lono-Kona Subdivision, just a short stroll from Kailua Pier, restaurants, shops, and all the conveniences of Kona town. Set back from the buzz of Ali‘i Drive, this private compound features two spacious homes - currently utilized as a 13-bedroom / 6-bath income property, offering excellent rental income and strong occupancy potential. Zoned RD-3.75 (Double-Family Residential District), this property offers rare zoning flexibility, with a minimum land area requirement of 3,750 SF per dwelling unit. This opens up possibilities for creative long-term rentals or multi-generational configurations. Highlights include: - Property Manager on the site - County sewer connection - New exterior and interior paint - New paint on the roof - Walking distance to dining, retail, beaches, and the harbor - Minutes to Lanihau Center with full-service grocery, restaurants, bowling, post office, salon & more. Ideal for ocean sports enthusiasts - kayaking, sunset sails, all nearby Rare zoning + multiple units + income = excellent long-term value This is a must-see opportunity for savvy investors seeking a well-located, high-yield property in one of Kona’s most vibrant and walkable neighborhoods. Act quickly - this prime investment won’t last long!