IF it was not on an auction site none of the information would be known unless you do your own research. they could say its a 3bed 2 bath home and you go buy and its burned down (seen that before). 100% is on the person bidding at auction.

Welcome to the community and be ready for a huge amount of information at your finger tips.

I intend to rent out the units by room to college students (does it sound like this would work in this area and what are some general tips/things I should look out for?).

I have one building with decorative fireplaces and we capped those so they can't use them.

I generally look for two things: new homes on the market for sale are they being sold very close to asking price, with short days on markets or not.

Just a tip - make sure you don't just look at the current property taxes. 

You can try and fight it but does not mean you will be successfulI would also be curious to see what your property insurance looks likeFor me this is just another example that home prices are gonna eventually have to soften as between taxes, insurance and Interest rates home affordability is very challenging

Ko Olina is a beautiful spot - and having a vacation home there for your family while focusing on capital appreciation is a smart move. 

Any tips on finding an agent? 

I do currently rent out a condo, fully furnished on furnished finders, and that has gone smoothly.Any tips, advice, etc accepted!