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3198 Wawae Rd, 
Kalaheo, HI 96741

$2,499,000


7

Beds


5

Baths


2,950

Sq Ft


Multi-Family

Active

Listed by

Jimmy Johnson

RE/MAX Kauai - Princeville Office

808-826-9675

Last updated:

September 13, 2026, 11:49 AM

MLS#

729558

Source:

HI HIS

About This Home

3198 Wawae Rd

CASH-FLOW MULTI-UNIT PROPERTY. Ideally suited for multi-generational living, private retreat center, family compound, or as a cash-flow rental. Live in one and rent out the rest. * SELLER FINANCING AVAILABLE * Down Payment of 15% ($375,000). Owner financing up to 5 years at only 4.75% interest. $15,300 / month current total income. Rent roll available. FOUR UNITS: * MAKAPUNI – main house consists of a 4 bedroom / 2 bath with a staircase that leads to two half lofts and a mini office loft, as well as an enclosed lanai. * OLUOLU – guesthouse is a 1bedroom / 1 bath that has its own private yard, private parking, and fireplace. * UKULELE - caretakers cottage is a cozy and functional 1bedroom / 1 bath cottage with open lanai that overlooks the Lawai valley. * HAUOLI - open floorplan studio with loft / half bath and outdoor shower with lanai and private courtyard. * FLEX SPACE – converted garage that could be utilized as an office space, work out room, storage, or more. Each unit has its own washer and dryer, privacy from the other units, and comes fully-furnished. A terrific turn-key situation that can start earning for you on the day of closing. Perched on a cool and breezy Lawai hillside, this enchanting property was built with concrete and love. Meandering concrete paths lead to separate buildings, surprise spaces, fruit trees, and planted with exotic tropical foliage. You will know you are on the Garden Island. Convenient Lawai location is a short drive away from the sunny beaches of Poipu, the necessities of Lihue, and the wonders of the Westside and Kokee.

Home Facts

Multi-Family

5 Baths

7 Bedrooms

Built in 1992

Subdivision & Development:

KALAHEO HOMESTEADS

Price Summary

2,499,000

$847 per Sq. Ft.

MLS #:

729558

Last Updated:

September 13, 2026, 11:49 AM

Added:

5 month(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

7

Bathrooms

Total Bathrooms:

5

Full Bathrooms:

4

Interior

Living Area:

2,950 Sq. Ft.


Structure

Structure

Building Area:

2,950 Sq. Ft.

Year Built:

1992


Lot

Lot Size (Sq. Ft):

15,159


Finances & Disclosures

Finances

Price:

$2,499,000

Price per Sq. Ft:

$847 per Sq. Ft.

Source:HI HIS
Listing information © 2021 MLS Hawaii, Inc. IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. The MLS may, at its discretion, require use of other disclaimers as necessary to protect participants or the MLS from liability.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.