Under $200,000 KAILUA KONA HI Real Estate, Homes, Condos for Sale

1 Beds ⋅ 1 Baths ⋅ 732427 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. Own one of the area's most sought-after vacation rentals! This beautifully maintained top-floor condominium has been a consistently successful Airbnb property, generating an average of approximately $55,000 in annual gross rental revenue over the past five years. With an established rental history, outstanding guest reviews, and reservations already on the books through 2027, this is a rare opportunity to step into a proven, income-producing property from day one. Located on the top floor of a two-story building, the condominium enjoys peaceful privacy along with relaxing ocean and pool views from the lanai. Guests love the bright, open feel and the elevated vantage point that captures Kona's beautiful sunsets and tropical atmosphere. The location is one of the property's greatest assets. Situated in the heart of Kona, visitors can easily walk or take a short drive to beaches, restaurants, shopping, and local attractions. This highly desirable central location has been a major contributor to the property's exceptional occupancy and repeat guest business. The sale includes one assigned parking space, adding convenience for both owners and guests. Please note: This is a leasehold property and because of leasehold financing limitations a cash purchase is required. Whether you're looking to expand your vacation rental portfolio or own a tropical getaway with a proven income stream, this turnkey investment offers an exceptional combination of location, performance, and lifestyle.

74-5618 Palani Rd Unit A4, KAILUA KONA

Listing courtesy of Hawaii Real Estate Group LLC.

$115,000

1 Beds ⋅ 1 Baths ⋅ 732315 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. A rare chance to own near the Kailua-Kona pier. This freshly updated one-bedroom leasehold condo at Kona Kai sits close to Alii Drive, downtown restaurants, and KTA Super Store, at a fraction of the cost of nearby fee-simple condos. Second-floor unit in one of Kailua-Kona's most central locations, just 0.3 miles from the pier and Alii Drive, so swimming, shopping, and strolling are right outside your door. This unit has an open lanai (although owners can screen in lanais) and an ultra prime parking spot right outside the door. Recently updated with new laminate flooring, fresh paint throughout, new bathroom vanity and shower surround, and new kitchen appliances — including a gas range which is a rare treat when it comes to condo living. Land lease through 2034, this is a cash-only purchase, not financeable. CV-10 zoning and HOA rules both allow short-term vacation rental use (STVR/TAR permit not yet obtained, to be secured separately by buyer), offering ultimate flexibly to cover carrying costs when not in use. Whether you're looking for a home base or a place to get away, this condo puts your Kona dream within reach. Kona Kai amenities: large community pool with expansive pool deck, BBQ area, on-site coin laundry, outdoor shower for rinsing off.

74-5618 Palani Rd Unit L2, KAILUA KONA

Listing courtesy of Knutson & Associates.

$195,000

1 Baths ⋅ 732139 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Welcome to this Top floor, End unit Studio which has been renovated and is offered fully furnished. The historic Kona Islander Inn has wonderful amenities, inviting lush tropical gardens and is centrally situated within Kailua-Kona village - a peaceful retreat with the convenience of being in the heart of town. - Enjoy this island-style condo as your own Hawaii getaway and as an investment property as well. The property is an existing vacation rental with solid rental history and future reservations which are assumable by Buyer. - Offered completely furnished with all that you'll need including a Queen bed plus sofa-sleeper, indoor and outdoor seating, TV, refrigerator / freezer, microwave, coffee-maker & more - Enjoy the covered outdoor lanai with garden views, ocean breeze - Air conditioning for warmer Hawaii climate plus tropical ceiling fan - Amenities include centrally located in-ground pool, spa, barbecue, charming open-air lobby with lounge and veranda, complimentary parking pass, lush mature landscaping and coin-operated laundry facility - Located adjacent to Alii Drive, Kona Islander Inn is just a short stroll to all that Kailua-Kona has to offer: ocean activities, historical sites, restaurants, shopping & farmer's market, personal services, churches and Kailua Public Library. - Monthly condo fees include all utilities: electricity, TV cable/internet, water, sewer, trash, maintenance of the grounds, pool, spa, barbecue, recycling.

75-5776 Kuakini Highway Unit 334, KAILUA KONA

Listing courtesy of NextHome Paradise Realty.

$199,000

1 Baths ⋅ 731827 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Incredible opportunity to own a turnkey, active short-term vacation rental in the heart of Kailua-Kona. Located on the third floor of the Oahu building at the Kona Islander Inn, suite #339 is a 372 sqft studio offering peaceful Plumeria garden views from its private lanai. Priced to sell, this unit features an established STVR track record with a 3-night minimum stay. Proven seasonal rates include a $140/night base rate. Step right into an operational investment asset or use it as your private tropical escape. The complex sits directly across the street from the ocean and is just steps from the historic dining, shopping, and entertainment along Alii Drive. Resort-style amenities include an in-ground pool, spa/hot tub, two BBQ grill areas, community laundry, and helpful onsite staff. The comprehensive $1,075/month maintenance fee completely streamlines your expenses by covering electricity, high-speed internet, cable TV, water, sewer, trash, and common area maintenance. This leasehold property is open to Cash or 1031 Exchange buyers, with furnishings negotiable. Pack your suitcase and take over this prime piece of Kona today. The information herein may contain inaccuracies and is provided without warranty of any kind. Agents and buyers must independently verify any info they deem material or important to their purchase or any offered price thereunder.

75-5776 Kuakini Hwy Unit 339, KAILUA KONA

Listing courtesy of eXp Realty.

$110,000

1 Beds ⋅ 1 Baths ⋅ 731641 MLS ⋅ ['Leasehold'] Tenure ⋅ Alii Villas BLDG.

This is a leasehold property. Own Your Piece of Paradise at Oceanfront Aliʻi Villas! Unit #112, is a beautifully furnished 1-bedroom, 1-bath condominium in the highly desirable oceanfront Aliʻi Villas community. Located on the south side of the complex near the pool, this garden-view unit offers a tranquil island setting surrounded by lush tropical landscaping. The living, dining, and kitchen area flows out to a ground floor lanai - perfect for morning coffee, yoga, or additional storage. Being sold fully furnished, this move-in-ready condo features a full-size washer and dryer too. Aliʻi Villas is one of the few oceanfront communities in Kailua-Kona that allows short-term vacation rentals, making this an excellent opportunity for buyers seeking a future investment property, second home, or full-time residence. Community amenities include a solar-heated saltwater pool, oceanfront BBQ area, sunset viewing deck, library, and community gathering areas. Conveniently located just minutes all Kailua-Kona's has to offer, including restaurants, shopping, beaches, farmers markets, and ocean activities. Monthly maintenance fees include water, trash service, basic cable, internet, and exterior/common area maintenance. The current lease ends 2/28/29. The Fee is available for purchase for $450k. Buyers may purchase the fee simultaneously with the condominium purchase, providing the opportunity to get a loan and convert the property to fee simple ownership.

75-6016 Alii Dr Unit 112, KAILUA KONA

Listing courtesy of Hawaii Estates LLC.

$180,000

2 Beds ⋅ 1 Baths ⋅ 730692 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. Discover island living in this beautifully updated, turnkey 2-bedroom, 1-bath condominium ideally located in the heart of Kailua-Kona. Enjoy ocean views and an unbeatable location just moments from the iconic Ironman finish line, Kona Pier, local markets, grocery stores, restaurants, shopping, and the sparkling Pacific Ocean. Currently operating as a successful vacation rental, this fully furnished condo presents an excellent opportunity for investors seeking income potential or buyers looking for their own private island getaway. Thoughtfully updated and move-in ready, it offers the perfect blend of comfort, convenience, and the Kona lifestyle. Residents and guests enjoy access to a community pool, and the monthly maintenance fee includes water, sewer, gas, trash service, landscaping, pool maintenance, and quarterly pest control. For added convenience, the property features newly installed coin-operated washers and dryers. Whether you're searching for a Hawaii retreat, a vacation rental investment, or both, this centrally located condo is ready to welcome you. 🌺

74-5618 Palani Rd Unit F7, KAILUA KONA

Listing courtesy of First Island Realty, LLC.

$125,000

1 Beds ⋅ 1 Baths ⋅ 730968 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. This well-maintained beautiful condo boasts many upgrades. Perfect location in Kona Town. Short walk to restaurants, shopping and waterfront. This unit located on the 1st floor has newer AC units, Dishwasher, Ceiling Fans, Garbage disposal. This property is approved for short term vacation rentals. This cozy dual-purpose unit is turnkey and ready to move in and/or renting on Airbnb immediately. Snowbird owners live here January through March, and it is currently Airbnb rented with a 4.7 rating.

74-5618 Palani Rd Unit I5, KAILUA KONA

Listing courtesy of Transworld Realty LLC.

$197,100

1 Baths ⋅ 731062 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Conventional Financing is now available for qualified buyers—please inquire for details! Seller Financing Also Available! Beautifully remodeled and located on the top floor, Kona Islander Inn Unit 336 offers a unique opportunity to own an affordable slice of paradise in the heart of Kailua-Kona. One of the standout features of this exceptional studio is its thoughtfully designed and beautifully updated kitchen, creating a warm and inviting space rarely found within the complex. The bright and comfortable interior has been tastefully upgraded and features attractive flooring, a remodeled bathroom, air conditioning, and a private covered lanai overlooking the lush tropical grounds with peek-a-boo ocean views. Whether you're looking for a personal island retreat, a second home, or an investment opportunity, this unit provides comfort and convenience in an unbeatable location. Kona Islander Inn is known for its resort-style setting with a swimming pool, spa, barbecue areas, and beautifully landscaped grounds. Situated right in the center of Kailua-Kona, you're just steps away from Alii Drive and within walking distance to restaurants, coffee shops, farmers markets, shopping, beaches, and countless ocean activities. Enjoy island living at its best with this beautifully remodeled top-floor unit in one of Kona's most convenient locations. Leasehold property with financing options now available for qualified buyers—please inquire for details

75-5776 Kona Islander Inn Unit 336, KAILUA KONA

Listing courtesy of Knutson & Associates.

$129,000

1 Beds ⋅ 1 Baths ⋅ 730805 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Kai BLDG.

This is a leasehold property. CASH BUYERS ONLY Step into opportunity. Beautifully remodeled 1 bedroom, condo with courtyard views and a desirable Kona location. Currently a Popular and Profitable STVR with 2025 Gross rental income over $55,000. KEY FEATURES: PRIME LOCATION: Situated in the heart of Kailua-Kona, this condo offers unparalleled access to pristine beaches, vibrant nightlife, and shopping/dining options. Guests will delight in the convenience of exploring the area's top attractions within minutes. EXQUISITE REMODEL: Meticulously redesigned with modern elegance. From sleek bamboo floors in the kitchen to designer fixtures, every detail has been carefully chosen to offer an interior space comfort, and function. ACCOMMODATIONS: With a large bedroom, residents can unwind in comfort in the bedroom, which has a large closet and an individual air conditioner. KITCHEN: Fully-equipped kitchen, complete with new appliances, quartz countertops, and ample cabinet space. AMENITIES: A sparkling swimming pool, laundry center, assigned parking, and lush tropical landscaping. Whether seeking a lucrative investment opportunity or a personal retreat, this condo offers the best of both worlds. With a proven track record as a profitable vacation rental, you can maximize your returns while enjoying the flexibility to escape to paradise whenever you desire.

74-5618 Palani Rd Unit M6, KAILUA KONA

Listing courtesy of Hawaii Real Estate Group LLC.

$119,000

1 Beds ⋅ 1 Baths ⋅ 729290 MLS ⋅ ['Leasehold'] Tenure ⋅ Honalo Plaza BLDG.

This is a leasehold property. This beautifully maintained 1-bedroom, 1-bath condominium offers a private west-facing lanai where you can relax and enjoy colorful sunsets in a peaceful, private setting. Access to this second story unit can be obtained without the use of stairs!! Inside, you’ll find an upgraded kitchen, fresh interior paint, and a comfortable, functional layout that makes the most of the space. The HOA fee includes utilities and lease fees, providing exceptional value and predictable ownership costs. Whether you’re looking for a full-time residence, vacation getaway, or investment property, this condo offers an affordable opportunity to enjoy a low-maintenance lifestyle in a desirable location.

79-7261 Nahenahe Loop Unit 112, KAILUA KONA

Listing courtesy of Hawaii Real Estate Group LLC.

$199,000

1 Baths ⋅ 730577 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. Already performing and ready for its next owner. This active Short-Term Vacation Rental at the Kona Islander Inn brings a documented booking history to your portfolio on day one, with no guesswork and no waiting to see if the numbers work. They already do. Situated in the heart of Kailua Village, this 372 sqft studio puts guests exactly where they want to be: steps from Ali'i Drive waterfront, walkable to some of the best dining and boutique shopping on the Big Island, and moments from manta ray night dives, Kona Pier, and the kind of sunset happy hours that make people extend their trips. No car needed. Resort-style amenities with a sparkling pool, hot tub, lush tropical gardens, BBQ grills, and a professional front desk team managing every check-in and check-out, keeping guests comfortable, reviews glowing, and the calendar full. Then there's Unit 337 itself. Perched on the third floor of the Oahu building, the elevated position offers a sense of privacy and quiet that's hard to come by in the heart of Kailua Village. The covered lanai is generous and private, framed by swaying palms and the soft rustle of trade winds through the tropical canopy. Inside, Unit 337 offers something rare among Kona Islander Inn studios: an open, airy floor plan that flows freely between the living area and kitchenette, without the dividing wall found in most units. The result is a space that feels meaningfully larger than its square footage suggests, is easier to move through, is more inviting to come home to, and is noticeably more appealing to guests who've stayed in other units at the property. Warm neutral tones and tile floors set a relaxed island mood. Offered furnished and move-in ready. Monthly maintenance fees cover water, electricity, trash service, basic cable, and high-speed internet.

75-5776 Kuakini Highway Unit 337, KAILUA KONA

Listing courtesy of COMPASS.

$199,000

1 Baths ⋅ 730580 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona Islander Inn BLDG.

This is a leasehold property. This active Short-Term Vacation Rental at the Kona Islander Inn has a documented booking history and steps into your portfolio on day one. Perfectly positioned in the heart of Kailua Village, this 372 sqft studio delivers the authentic Kona lifestyle in one of the most walkable locations on the Big Island. Guests walk to everything: waterfront dining, boutique shops, manta ray night dives, and the iconic energy of Alii Drive. No car needed. Resort-style amenities, a sparkling pool, hot tub, lush tropical gardens, BBQ grills, and a front desk team that handles guest check-ins and check-outs, keeping reviews strong and guests coming back. Whether you're building a portfolio or searching for your own piece of paradise, this turnkey opportunity checks every box. Unit 328 is a second-floor studio in the Lanai building, where swaying palms and the shimmer of the pool below greet you from your private lanai, one of the most serene settings in the complex. Inside, warm island-inspired interiors strike the perfect balance between comfort and style. The bright, open layout flows seamlessly to the lanai, where lush tropical garden views make it easy to linger over morning coffee or an evening glass of wine. Offered furnished and move-in ready. Monthly maintenance fees cover water, electricity, trash service, basic cable, and high-speed internet.

75-5776 Kona Islander Inn Unit 328, KAILUA KONA

Listing courtesy of COMPASS.

$175,000

1 Baths ⋅ 729487 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona West BLDG.

This is a leasehold property. Enjoy this Furnished and Updated Studio at Kona West #203 - A popular rental area, this unit has been nicely updated with Bamboo Flooring, Lots of Built-In furnishings including Murphy Bed, Kitchenette Cabinets, Full-Length & Designer Mirrors, Mounted TV, Air-Conditioning unit and so much more! Updated with Beautiful Granite Countertops at Kitchenette and Bath, plus a Refrigerator and Induction Cooktop, Tropical style furnishings including a Teak Bar-Style Dining, Laminate Flooring in the Bath area, Privacy awnings and Wardrobe cabinet, and much more! Lanai Views of the Ocean, Seasonal Sunsets, Sunrises over the Hualalai Mountain Slope, and Kona Town activities. Located in a popular Short Term Vacation Rental Resort zoned area, close to town, restaurants, shopping, Kailua Pier, and an exciting Outdoor Active Lifestyle, You and your guests are sure to enjoy this prime location! Maintenance Fees Include: Electricity, Water, Spectrum Cable/Wifi, Trash, Common Area/Building Maintenance including Pool Deck, BBQ Grill, Dining & Lounging Areas, Hot Tub, Landscaping, Coin-Operated Laundry Room, Community Bulletin Board, Mailbox Bank, and more! Open Parking area with One unassigned Parking Permit, Visitor Parking, Car Wash Stall, some Under-Building Stalls, and Video-Monitored areas.

75-5680 Kuakini Hwy Unit 203, KAILUA KONA

Listing courtesy of eXp Realty.

$80,000

1 Beds ⋅ 1 Baths ⋅ 728519 MLS ⋅ ['Leasehold'] Tenure ⋅ Alii Villas BLDG.

This is a leasehold property. Beautifully maintained 1 bedroom, 1 bath condo in Kailua-Kona's most sought after ocean front community. Meticulously cared for interior and recently remodeled kitchen and bath with new appliances. Open floorplan connects the living area to the kitchen and lanai area which overlooks the pool. Ample storage throughout the unit and the parking space is conveniently located a short distance from the unit. Fully furnished and move in ready. Zoned for STVR but the unit has never been a short term rental. A short distance to downtown Kailua-Kona where you can enjoy shops, restaurants, farmers market and beaches. Alii Villas is located on Alii Drive and it offers a well maintained tropical setting with heated pool, BBQ area, large sunset /ocean view viewing deck at the end of the complex and has direct access to the shoreline. Maintenance fees include, water, basic cable, sewer, garbage collection, internet and exterior/common area maintenance. Pet friendly ( one small dog or cat allowed with board approval) This leasehold property expires in 2029 but the fee is available for purchase as of June 2025for $404,000 with a $4000 monthly increase in price thereafter.

75-6016 Alii Dr Unit 118, KAILUA KONA

Listing courtesy of eXp Realty.

$139,000

1 Baths ⋅ 724510 MLS ⋅ ['Leasehold'] Tenure ⋅ Kona West BLDG.

This is a leasehold property. Discover this beautifully updated studio at Kona West, ideally located in the heart of Kailua-Kona. This move-in-ready condo features new flooring, fresh paint, and an upgraded kitchenette with granite countertops and custom wood cabinetry. Enjoy indoor-outdoor living with a spacious covered lanai surrounded by tropical greenery. Kona West offers a sparkling pool, spa, ocean views, and BBQ area — perfect for relaxing after a day exploring the island. Conveniently situated near Ali‘i Drive, dining, beaches, and shopping. A great opportunity for full-time living or an investment property in a prime Kona location.

75-5680 Kuakini Highway Unit 206, KAILUA KONA

Listing courtesy of Knutson & Associates.

Browse All KAILUA KONA HI Under $200K Properties for Sale

Under $200K KAILUA KONA Real Estate