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$ 5,750,000
Est. payment /mo
Active
82-6151 HAWAII BELT RD #64 Captain Cook, HI 96704
2.4 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Hotel/Motel
Listing Status Active
Purchase Type For Sale
Subdivision Kealakekua
MLS Listing ID 727529
HOA Y/N No
Annual Tax Amount $23,820
Tax Year 2025
Lot Size 2.395 Acres
Property Sub-Type Hotel/Motel
Source Hawaii Information Service
Land Area 104343
Property Description
Rare opportunity to buy the Manago Hotel, a fee simple, 64-room unbranded historic hotel with additional commercial space, a home, long-term residential rentals, and Hawaii's oldest restaurant which was the winner of a 2023 James Beard Award. The hotel offers a glimpse into "Old Hawaii," a charm treasured by locals and visitors alike. This property has been established, owned, and operated continuously by the Manago family for over 100 years. The Manago Hotel Restaurant is Hawaii's oldest restaurant, dating back to 1917. The property is an incredible value-add investment with tremendous upside potential. The current below-market room and commercial rents offer immediate upside, while undeveloped land provides space for desirable new amenities such as a swimming pool or grand lawn. The addition of enhanced food and beverage services and the transformation of an existing bar into a 1920s-themed speakeasy, as well as a modern reservation system, could further increase value. Moreover, the hotel includes additional rooms currently not in use that could be converted into long-term rentals. NOI is proforma. Offering includes two parcels - TMKs: 3-8-2-15-19 & 22.
Location
State HI
County Hawaii Island (big Island)
Community Kealakekua
Area Hi
Zoning CV-10
Region South Kona
City Region South Kona
Exterior
Utilities Available Electricity Available, Natural Gas Available
View Y/N Yes
View Ocean
Garage No
Private Pool No
Building
Sewer Cesspool
Others
Ownership Full
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition Fee Simple, Standard
Listed by Coldwell Banker Realty
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