NOT LISTED FOR SALE

74-5618 Palani Rd Unit L1 Kailua Kona, HI 96740

Estimated Value: $125,204 - $146,000

1 Bed
1 Bath
515 Sq Ft
$516/mo HOA Fee

Last Sold August 23, 2023

Last sale price $130,000 $252 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $1,386/month

1 Day on Market

About This Home

As of August 2023

This is a leasehold property. This popular short-term rental is close to the ocean and the Kona Pier and is a favorite for guests that want to walk instead of drive.
County of Hawaii STVR permit is active for the current owner this condo.
Short-term rentals, long-term rentals, and pets are allowed at Kona Kai. STVR permits are available via the County of Hawaii.
OFFERS MUST BE CASH due to the leasehold status. Quick close is available.
The leasehold payments are shown monthly at $323 and are paid every 6 months to the Queen Liliuokalani Trust. The $515.73 AOAO dues are collected monthly by Associa on behalf of the Kona Kai AOAO. Fees include pool and common area maintenance, gas for cooking and hot water, water heaters, exterior maintenance, landscaping, common area insurance, rubbish removal, and quarterly pest control.
The current lease is set to expire at the end of 2034. This is the second 30-year lease term. The next renegotiation is in 2029.

Last Agent to Sell the Property

Rebecca Clancy

Hawaii Real Estate Group LLC Brokerage Phone: 8089900437 License #RB-22167 Listed on: 07/25/2023

Last Buyer's Agent

Rebecca Clancy

Hawaii Real Estate Group LLC Brokerage Phone: 8089900437 License #RB-22167 Listed on: 07/25/2023

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,406

Year Built

  • Built in 1969

Lot Details

  • Property fronts a county road
  • End Unit

HOA Fees

  • $516 Monthly HOA Fees

Parking

  • Assigned Parking

Interior Spaces

  • 515 Sq Ft Home
  • 2-Story Property
  • Carpet

Kitchen

  • Range
  • Microwave

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Full Bathroom

Community Details

  • Kona Kai Community
  • Kona Industrial Subdivision

Listing and Financial Details

  • Property is used as a vacation rental
  • Assessor Parcel Number 3740100360080

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,406

Year Built

Built in 1969

Lot Details

0

HOA Fees

$516 per month

Listing Details

  • Prop. Type: Residential
  • Property Sub-Type: Condominium
  • Attribution Contact: 8089900437
  • Co List Office Phone: 8888199669
  • Ownership: CPR
  • MLS Status: S
  • Subdivision Name: KONA INDUSTRIAL SUBDIVISION
  • Unit Levels: Two
  • Living Area: 515.0
  • Property Attached Yn: Yes
  • Year Built: 1969
  • Tax Year: 2023
  • HIS_PoolYN: No
  • Unit Description: End Unit, Even Number Unit
  • HIS_SpecialAssessmentAmountFrequency: Monthly
  • HIS_SolidWasteDisposal: Included with Maintenance Fees
  • HIS_InUseAsShortTermVacationRentalYN: Yes
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Microwave, Range, Refrigerator
  • Total Bedrooms: 1
  • Full Bathrooms: 1
  • Flooring: Carpet
  • Total Bathrooms: 1

Exterior Features

  • Waterfront: No
  • Roads: County

Garage/Parking

  • Parking Features: Assigned

Utilities

  • Cooling: Cash
  • Utilities: Electricity Available, Sewer Connected

Condo/Co-op/Association

  • Association Fee: 515.71
  • Association Fee Frequency: Monthly
  • Project: Kona Kai

Lot Info

  • Zoning: CV-10
  • ResoLotSizeUnits: Square Feet
  • Parcel Number: 3740100360080
  • ResoLotSizeUnits: SquareFeet

Tax Info

  • Tax Annual Amount: 1406.0

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/24/2024 09/24/24 Off Market $130,000 -- --
01/21/2024 01/21/24 Off Market $130,000 -- --
08/23/2023 08/23/23 Sold $130,000 0.0% $252 / Sq Ft
07/28/2023 07/28/23 Off Market $130,000 -- --
07/25/2023 07/25/23 For Sale $135,000 +92.9% $262 / Sq Ft
11/26/2018 11/26/18 Sold $70,000 -5.4% $136 / Sq Ft
11/13/2018 11/13/18 Pending -- -- --
09/27/2018 09/27/18 For Sale $74,000 -- $144 / Sq Ft
Source: Hawaii Information Service (MLS Hawaii)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,551 $132,900 $17,500 $115,400
2024 $1,551 $126,300 $17,500 $108,800
2023 $1,406 $114,500 $17,500 $97,000
2022 $1,209 $98,400 $17,500 $80,900
2021 $954 $77,700 $17,500 $60,200
2020 $977 $79,600 $17,500 $62,100
2019 $723 $117,800 $35,000 $82,800
2018 $537 $43,700 $17,500 $26,200
2017 $484 $39,400 $17,500 $21,900
2016 $450 $39,400 $17,500 $21,900
2015 $411 $39,400 $17,500 $21,900
2014 $411 $39,400 $17,500 $21,900
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2023

    Rebecca Clancy

    Hawaii Real Estate Group LLC

    24 in this area

    37 Total Sales

    Rebecca Clancy
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Map

Source: Hawaii Information Service (MLS Hawaii)

MLS Number: 670509

Hawaii Information Service (MLS Hawaii)

APN: 3-7-4-010-036-0080

Hawaii Hawaii County Kailua Kona 96740

74-5618 Palani Rd Unit L1, Kailua Kona, HI

This home is located at 74-5618 Palani Rd Unit L1, Kailua Kona, HI 96740 since 25 July 2023 and is currently estimated at $137,051, approximately $266 per square foot. This property was built in 1969. 74-5618 Palani Rd Unit L1 is a home located in Hawaii County with nearby schools including Kealakehe Elementary School, Kealakehe Intermediate School, and Kealakehe High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Hawaii Information Service (MLS Hawaii) Copyright 2025 MLS Hawaii, Inc. All rights reserved.

IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.

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