Feedback on Hawaii Investment Property Needed!

[Jeremy Moncur]

Aloha All!  I'm a Realtor on Oahu and have a 3 duplex (6 separate TMK's) rental compound listed in Hauula, HI (Northest Oahu).  It's been slow going so I'm looking for feedback from investors on where this needs to be price (and/or other wise) to make it more attractive.

Owner hasn't given 2017 totals yet but  in 2016 the units netted $224,549.08 as rentals.  That's after paying management and cleaning fee's of $69,718.78 (which could potentially be reduced) along with other fees like maintenance, insurance, etc...Gross revenue was $352,959.56.  I know 2017 brought in less revenues as the owner turned over management to a rental management company that wasn't performing as well with it when we listed the property for sale mid 2017.  Prior to that, he had a full-time manager taking care of it but pulled her into a separate business that was bringing in more profit.

Any advice / feedback would be welcome!

[Elijah F.]

Viewed the property and ran some numbers. Pencils out to be decent cap rate and cash-on-cash return. Property is also nice. Any indication it is just a lack of investors in this space? $3.65MM is a hefty price tag which will limit your buyer/investor pool. Have you tried to sell the units as duplexes? You could get $600M each and open you pool to residential home buyers before interest rates rise any further.