About 1104 Palama Street
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.
Features of 1104 Palama Street
| MLS® # | 202612167 |
|---|---|
| Price | $1,490,000 |
| Bedrooms | 5 |
| Bathrooms | 2.00 |
| Full Baths | 2 |
| Square Footage | 3,296 |
| Acres | 0.09 |
| Year Built | 1905 |
| Style | Multi-Family, Multiplex |
| Status | Active |
Additional Information
| Date Listed | June 26th, 2026 |
|---|---|
| Days on Market | 79 |
| Land Tenure | FeeSimple |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Community Information
| Address | 1104 Palama Street |
|---|---|
| Subdivision | KAPALAMA |
| City | Honolulu |
| County | Oahu |
| State | HI |
| Zip Code | 96817 |
Amenities
| Features | Cleared, Corner Lot, Level |
|---|---|
| Garages | Three or more Spaces |
| View | City |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Vinyl |
|---|---|
| Fireplace | No |
| Stories | 2 |
| Has Basement | No |
Listing Details
| Office | Fogarty Realty, Inc. |
|---|---|
| Contact Info | (808) 955-5100 |