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210 Keawe St 0.44 Acres of Commercial Land Offered at $2,200,000 in Hilo, HI 96720
INVESTMENT HIGHLIGHTS
- Rare 19,366 sq ft corner lot in downtown Hilo, ideal for mixed-use with affordable or workforce housing and street-level retail.
- Eligible for Section 201H and HHFDC funding, with state-backed support to expedite affordable housing projects.
- CDH zoning allows mixed-use, senior living, and residential up to 120 ft, with minimal parking requirements.
- Outside the tsunami zone, with full utilities, transit access, and frontage on Keawe Street—Hilo’s main corridor.
EXECUTIVE SUMMARY
There is no FAR or density requirement for commercial developments. For market rate residential developments, one unit per 500 sf of land area while a 10% bonus is awarded for affordable housing projects, i.e. 39 market rate residential units and 43 affordable or workforce units. According to the Office of Housing and Community Development (OHCD), this property is a viable candidate for Section 201H approval for a mixed-use development with substantially more affordable or workforce units that qualify for funding by Hawaii Housing and Financing Corporation (HHFDC).
Per the Office of the Governor website: Hawaii has the most expensive housing prices in the United States because it has failed to sufficiently build homes for its residents. The current housing shortage has led to a crisis of increasing homelessness and migration to the mainland which threatens the ‘ohanas and way of life across Hawaii. The Proclamation Relating to Housing was first signed by Governor Green on July 17, 2023. On September 15, 2023, Governor Green signed the Emergency Proclamation Relating to Affordable Housing, which prioritized the many state and affordable housing projects with the goal to simply and speed up the Section 201H application approval through the State versus the County Council.
The “ENVISION DOWNTOWN HILO 2025”, a community-based vision and living action plan for Downtown Hilo identifies Keawe Street as downtown Hilo’s main and primary thoroughfare. A MAI appraisal dated April 29, 2025, is available upon request. Architectural schematic study drawings for the mixed use 43-unit affordable/workforce and the Section 201H approval required developments are available upon requests. Please call and leave a voicemail for the listing agent for more information.
PROPERTY FACTS
| Price | $2,200,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Commercial |
| Sale Condition | 1031 Exchange | Total Lot Size | 0.44 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land | ||
| Zoning | CDH - Allows uses such as commercial/retail, offices, and senior living facilities including assisted living with no parking requirement, and residential. | ||
| Price | $2,200,000 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 0.44 AC |
| Opportunity Zone |
Yes |
| Zoning | CDH - Allows uses such as commercial/retail, offices, and senior living facilities including assisted living with no parking requirement, and residential. |
1 LOT AVAILABLE
Lot
| Price | $2,200,000 | Lot Size | 0.44 AC |
| Price Per AC | $4,948,468.45 |
| Price | $2,200,000 |
| Price Per AC | $4,948,468.45 |
| Lot Size | 0.44 AC |
The property is a 19,366-square-foot, level, paved corner lot that is currently being used as a parking lot and is zoned CDH.
DESCRIPTION
210 Keawe St in Hilo, HI is a 19,366 sq ft vacant corner parcel at Keawe and Haili Streets, currently leased month-to-month to a parking operator. The property is zoned CDH (Civic-Designated Hilo), which permits a range of uses including mixed-use commercial, residential, senior living, and assisted living, with a building height allowance of up to 120 feet and limited parking requirements. Based on zoning regulations, the site can accommodate up to 39 market-rate housing units or 43 affordable or workforce units with a 10% density bonus, and it meets eligibility criteria for Section 201H approval and potential funding through the Hawai‘i Housing Finance and Development Corporation. The lot is located outside the tsunami evacuation zone, has underground utility connections, access to public transportation, and frontage along Keawe Street, a primary corridor identified in the “Envision Downtown Hilo 2025” community plan.
PROPERTY TAXES
| Parcel Number | 3-2-3-006-009-0000 | Improvements Assessment | $0 |
| Land Assessment | $406,000 | Total Assessment | $406,000 |
PROPERTY TAXES
Presented by
Vincent T.C. Tai
210 Keawe St
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