For sale

$495,000

235 Malaai Rd, Hilo, HI 96720

3beds

972sqft

Est.:

Single Family Residence

Built in 1967

1 Acres Lot

$484,100 Zestimate^®

$509/sqft

$-- HOA

What's special

Enclosed garageRich redwood panelingExpansive acreageHardwood flooringPrivacy and natural surroundings

Set on a full acre in the heart of Waiākea Homesteads, this classic Hilo property offers space, character, and a canvas for your next chapter. Built in 1967, the home carries a timeless feel with rich redwood paneling and hardwood flooring—details that reflect craftsmanship from a different era. With 3 bedrooms and 2 baths, there’s room to live comfortably while making it your own. Outside, the expansive acreage opens the door to endless possibilities—gardens, outdoor living, or simply enjoying the privacy and natural surroundings. A 2-car carport and an enclosed garage provide flexibility for storage, hobbies, or future use - totaling 980 sq ft of outdoor, covered space. Properties like this—offering both land and location—don’t come around often. Just minutes from Hilo town, yet with the space to truly breathe.

1 day

1,173

90

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 2
Full bathrooms: 2

Appliances

Included: Range, Range Hood, Refrigerator

Features

Flooring: Hardwood, Vinyl
Has fireplace: No

Interior area

Total structure area: 972
Total interior livable area: 972 sqft

Video & virtual tour

View virtual tour

Property

Parking

Parking features: Attached, Covered

Features

Levels: One
Fencing: Stone

Lot

Size: 1 Acres
Features: Grassy
Topography: Fairly Level

Details

Parcel number: 3240470140000
Zoning: A-3A
Special conditions: Fee Simple,Standard

Construction

Type & style

Home type: SingleFamily
Property subtype: Single Family Residence

Condition

Year built: 1967

Utilities & green energy

Sewer: Cesspool
Utilities for property: Electricity Available, Phone Available

Community & HOA

Community

Subdivision: WAIAKEA HOMESTEADS 2ND SERIES

Location

Region: Hilo

Financial & listing details

Price per square foot: $509/sqft
Tax assessed value: $407,700
Annual tax amount: $2,425
Date on market: 4/24/2026
Listing terms: 1031 Exchange,Cash,Conventional,VA Loan
Ownership: Full
Electric utility on property: Yes
Road surface type: Paved

Estimated market value

$484,100

$460,000 - $508,000

$2,487/mo

Price history

Date	Event	Price
4/24/2026	Listed for sale	$495,000+93.3%$509/sqft
Source: Hawaii Information Service #728891 Report a problem
8/18/2021	Listing removed	--
Source: Zillow Rental Network Premium Report a problem
8/12/2021	Listed for rent	$1,369$1/sqft
Source: Zillow Rental Network Premium Report a problem
7/7/2021	Listing removed	--
Source: Zillow Rental Network Premium Report a problem
6/29/2021	Price change	$1,369+9.5%$1/sqft
Source: Zillow Rental Network Premium Report a problem
6/26/2021	Listed for rent	$1,250$1/sqft
Source: Zillow Rental Network Premium Report a problem
11/23/2004	Sold	$256,100$263/sqft
Source: Public Record Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	--	$407,700 +3%
2024	$2,355 -0.4%	$395,800 +3%
2023	$2,363 +3%	$384,300 +3%
2022	$2,295 +78.6%	$373,100 +171.5%
2021	$1,285 +5%	$137,400 +5%
2020	$1,223	$130,800 +4%
2019	--	$125,800 +28.9%
2018	--	$97,600 -0.1%
2017	$870	$97,700 +3.9%
2016	--	$94,000 +7.9%
2015	--	$87,100 -0.3%
2014	--	$87,400