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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

    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.
    234 days
    on Zillow
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    307
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    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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