88-1584 Papio Dr - PREVIOUSLY SUCCESSFUL VACATION HOSTED RENTAL 3.59 Acres of Residential Land Offered at $990,000 in Captain Cook, HI 96704

PREVIOUSLY SUCCESSFUL VACATION HOSTED RENTAL | MULTI-DWELLING LAYOUT | INCOME POTENTIAL
Perched above the rugged coastline of Papa Bay Estates, this rare 3.59-acre South Kona property offers sweeping ocean, horizon, and sunset views—along with proven income performance and exceptional flexibility.
Previously operated as a successful vacation hosted rental, the home is ideally suited for continued short-term rental use (where permitted), long-term rental income, multigenerational living, or a combination of both. With over 4,000 sq ft under roof, the layout naturally supports multiple independent living spaces while maintaining privacy throughout.
The main residence features a spacious 3-bedroom, 2-bath floor plan with generous living areas and a large covered lanai, partially screened to capture ocean breezes and Kona sunsets. Upstairs includes a separate 2-bedroom, 1-bath living area. The lower level offers a private 1-bedroom, 1-bath suite with kitchenette area, storage, workshop space, and an approximately 700 sq ft bonus room—ideal for a studio, gym, office, or additional rental configuration. Washer/dryer hookups on both levels enhance the home’s multi-living functionality.
Recent improvements include new flooring, fresh interior and exterior paint, a brand-new catchment tank, and multiple system upgrades, making the property move-in ready with solid infrastructure in place.
Set back from the road on an end lot, the home enjoys exceptional privacy within Papa Bay Estates—an extremely desirable and rarely available coastal community. Residents enjoy exclusive access to a private beach and camping area (4x4 access), offering a rare opportunity to experience Hawai‘i’s rugged coastline just minutes from home.
A versatile coastal property offering acreage, views, privacy, and income potential in one of South Kona’s most sought-after enclaves.
Agent Remarks:
Please contact Lailan Bento at (808) 936-1800 or Lailan@hidevgroup.com to set-up showings.
Please use Kianna Leomiti, First American Title – Kona, as she has already completed preliminary title work on this property.
Phone: (808) 329-4431 | Email: kleomiti@firstam.com
Information herein may contain inaccuracies and is provided without warranty or guarantee. Agents and buyers must independently verify any information deemed material or essential to their purchase or any offered price.
Please allow 24-hour notice for showings, as home is owner occupied.
Property to be sold AS IS.
Please include the AS IS Addendum with all offers.