Under contract

$495,000

235 Malaai Rd, Hilo, HI 96720

3beds

972sqft

Est.:

Single Family Residence

Built in 1967

1 Acres Lot

$484,000 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.

11 days

2,698

199

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

$484,000

$460,000 - $508,000

$2,556/mo

Price history

Date	Event	Price
5/6/2026	Contingent	$495,000$509/sqft
Source: Hawaii Information Service #728891 Report a problem
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