77-212 KE ALOHI KAI PL Kailua-kona, HI 96740
4 Beds
7 Baths
4,035 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 4,035 sqft
Price per Sqft $990
Subdivision Ke Alohi Kai Subdivision
MLS Listing ID 721754
Bedrooms 4
Full Baths 4
Half Baths 3
HOA Fees $503/mo
HOA Y/N Yes
Year Built 2003
Annual Tax Amount $35,272
Tax Year 2024
Property Sub-Type Single Family Residence
Source Hawaii Information Service
Land Area 10034
Property Description
Maximize your return with this luxury investment property in Kailua Kona's exclusive ocean-front, gated resort-zoned enclave of Ke Alohi Kai—where short-term vacation rentals are fully permitted and protected, with no risk of future regulation changes or permit loss.
This high-performing asset has consistently delivered strong financials:
2022: $295,342 gross revenue
→ NOI: $205,071 | CAP Rate: ~5%
2023: $336,045 gross revenue
→ NOI: $245,774 | CAP Rate: ~6%
2024: $275,422 gross revenue
→ NOI: $185,151 | CAP Rate: ~4.6%
2025 (Q1 only): $100,000 gross — a record-breaking start, signaling potential for highest revenue year yet
These figures are based on average operating expenses of $90,271/year (which may vary for a different owner and year), delivering real, verifiable cash flow. With upside in rates and bookings, this property presents a compelling CAP rate and long-term value.
This 4-bedroom, 7-bathroom custom-built residence spans 4,035 sq. ft. on a 10,034 sq. ft. lot in the gated oceanfront community of Ke Alohi Kai. Thoughtfully designed for seamless indoor-outdoor living, it features a zero-edge pool, cascading spa, and expansive pocket sliding doors.
Each bedroom offers a private lanai and ensuite bath, with the primary suite opening directly to the pool and featuring a jetted tub. Recent upgrades include a photovoltaic (PV) solar system and enhanced air conditioning, adding energy efficiency and comfort.
Located just a short walk from Magic Sands Beach and popular local restaurants, the home also includes two sitting areas, large living and dining spaces, central vacuum, and lush tropical landscaping behind stone walls and wooden gates.
Location
State HI
Community Ke Alohi Kai Subdivision
Area Hi
Zoning V-1.25
Region North Kona
City Region North Kona
Exterior
Parking Features Attached
Pool Gunite, Heated, In Ground, Pool/Spa Combo
Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Connected, Underground Utilities, Water Available
View Y/N No
Water Access Desc Public
Topography Level
Garage No
Private Pool Yes
Others
Ownership Full
Monthly Total Fees $503
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition Fee Simple, Standard
Virtual Tour https://player.vimeo.com/video/1012243381
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