Puainako Heights is a fee simple, residential development opportunity located approximately five miles above Hilo, on the Big Island of Hawaii.<br><br>The project is currently zoned for 440 units, in both single- and multi-family configurations. The number of allowed units may be increased to 820 with approval from the County.<br>The site encompasses approximately 130 usable acres and 57 separate tax parcels.<br>- State Land Use Designation is Urban<br>- County Zoning is RS-7.5, with 34 acres zoned RM-4<br>- 317 water meters are reserved for Puainako Heights through the Department of Water Supply<br><br>The property is in foreclosure, and presents a unique opportunity for an experienced real estate developer or long-term investor. Offered at roughly $50,00 per-acre, or $20,000 per-water-unit, the site may be developed as a fee simple neighborhood and/or build-to-rent community. The scarcity of development sites near Hilo, commitment of municipal water service, and proximity to Kona, should preserve and increase the value of Puainako Heights as a long-term asset.<br><br>Additionally, RM zoning allows the following uses:<br>- Single- or multi-family housing<br>- Adult day care homes<br>- Boarding facilities, rooming, or lodging houses<br>- Care homes, with a County Use Permit<br>- Community Buildings, as permitted in Hawaii County Code Section 25-4-11<br>- Day care centers, with a County Use Permit<br>- Group living facilities<br>- Medical clinics, with a County Use Permit<br>- Meeting facilities<br>- Short-term vacation rentals, within a condominium property regime<br><br>Due to the Puainako Heights' status as the subject of a foreclosure action, the Court of the Third Circuit requires property-specific disclosures to be made to potential Buyers. Disclosures are available to interested parties.
Lot/land
$6,340,000
Puainako St, Hilo, HI 96720
--beds
0baths
130Acres
Unimproved Land
Built in ----
130 Acres Lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
- 234 days
- on Zillow |
- 307 |
- 14 |
Zillow last checked: 7 hours ago
Listing updated: July 15, 2025 at 02:48pm
Listed by:
Aaron K. Lee 8089603138,
RE/MAX Properties
Source: Hawaii Information Service,MLS#: 716708
Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Features
- Has fireplace: No
Property
Lot
- Size: 130 Acres
- Features: Wooded
- Topography: Rolling Terrain
Details
- Parcel number: 3250460010000
- Zoning: RS-7.5
- Special conditions: Fee Simple,Notice Of Default
Utilities & green energy
- Sewer: None
- Utilities for property: Electricity Available
Community & HOA
Community
- Subdivision: PUAINAKO HEIGHTS SUBDIVISION
Location
- Region: Hilo
Financial & listing details
- Tax assessed value: $427,900
- Annual tax amount: $4,749
- Date on market: 12/19/2024
- Listing terms: Cash
- Ownership: Full
- Electric utility on property: Yes
- Road surface type: Paved
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