Hilo Homes with Fee Simple Land tenure

Welcome to Hilo, a charming town nestled on the lush, eastern shores of the Big Island of Hawaii. Known for its vibrant culture, stunning natural beauty, and friendly community, Hilo offers a unique blend of island living and small-town charm. With its picturesque landscapes, including the majestic Mauna Kea and the breathtaking Rainbow Falls, Hilo is a paradise for nature lovers and outdoor enthusiasts alike.

The neighborhood boasts a rich history, with a delightful mix of traditional Hawaiian culture and modern conveniences. Stroll through the historic downtown area, where you can explore local shops, art galleries, and farmers' markets, all while enjoying the warm aloha spirit that Hilo is known for. The community is also home to a variety of cultural events and festivals throughout the year, celebrating everything from hula to local cuisine.

When it comes to real estate, Hilo offers a range of homes with Fee Simple land tenure, providing buyers with the ultimate sense of ownership and investment security. This means you not only own your home but also the land it sits on, allowing for greater flexibility and peace of mind. Whether you’re searching for a cozy bungalow, a charming plantation-style home, or a modern retreat, Hilo’s real estate market has something for everyone.

In Hilo, you’ll find a welcoming community, stunning landscapes, and a lifestyle that embraces the rhythm of island life. Come discover your dream home in this enchanting corner of Hawaii, where every day feels like a vacation. Embrace the beauty and tranquility of Hilo—your island paradise awaits!

Newest Hilo Homes with Fee Simple Land tenure

$595,000

4 Beds ⋅ 4 Baths ⋅ 202600583 MLS ⋅ FS - Fee Simple Tenure

Currently installing a new roof and updating front lanai with both front and back railings being updated. Recent electrical updates are complete and scheduling plumbing updates. This Classic style home is in a great location in the heart of Hilo town walking distance to the town's famous farmer's market and recreation areas of Lincoln park, tennis courts, Mo'oheau park and Bayfront. The Central fire station is just a block away along with restaurants, grocery stores, gas stations, and medical, bank, office, and professional services buildings. The home features 3 bedrooms upstairs each with their own private bathroom with a large front lanai entrance with beautiful ocean views of Hilo's famous Bayfront. The upstairs front door enters you into a quaint front living room with the kitchen at the end of the hallway with its own private back lanai. The upstairs unit has 9 foot ceilings and hardwood floors with the old vintage design of yesteryear. The downstairs studio is large and spacious and has a unique and spacious bathroom with tile floors. Rental info: Upstairs $2,500 + utilities month to month, back downstairs $850/mo now vacant.

301 Ponahawai Street, Hilo

Listing courtesy of Compass.

$595,000

4 Beds ⋅ 4 Baths ⋅ 720363 MLS ⋅ ['Fee Simple'] Tenure

New roof replacement and front lanai floor newly updated and painted with both front and back railings update complete. Recent electrical updates are complete and scheduling plumbing updates. This Classic style home is in a great location in the heart of Hilo town walking distance to the town's famous farmer's market and recreation areas of Lincoln park, tennis courts, Mo'oheau park and Bayfront. The Central fire station is just a block away along with restaurants, grocery stores, gas stations, and medical, bank, office, and professional services buildings. The home features 3 bedrooms upstairs each with their own private bathroom with a large front lanai entrance with beautiful ocean views of Hilo's famous Bayfront. The upstairs front door enters you into a quaint front living room with the kitchen at the end of the hallway with its own private back lanai. The upstairs unit has 9 foot ceilings and hardwood floors with the old vintage design of yesteryear. The downstairs studio is large and spacious and has a unique and spacious bathroom with tile floors. Upstairs 3/3 and back downstairs studio units previously rented long term ($2,500 plus utilities and $850 a month respectively) and possible bottom front unit available (currently an office with its own bathroom with shower) for new owner or to rent out as well.

301 Ponahawai St, HILO

Listing courtesy of COMPASS.

$365,000

9 Beds ⋅ 3 Baths ⋅ 202518347 MLS ⋅ FS - Fee Simple Tenure

High-Cash-Flow Investment in Downtown Hilo –Now $495,500 Hoku Street,Hilo,HI 96720 This Downtown Hilo property offers strong income and even higher potential through room-by-room rentals. Homes rented by the room typically earn significantly more monthly income, provide more stable cash flow, and generate higher long-term returns. With 9 rentable rooms, 3 bathrooms, and 2 full kitchens (upstairs and downstairs), the property is already producing solid revenue and can be improved further. Income & ROI: • Current gross income: $70,000–$80,000+ per year • At $495,500 — gross ROI of 13.1% at $70K/year or 15% at $80K/year • Opportunity to increase ROI through optimized room-by-room rentals • Additional tax benefits from depreciation and write-offs • Multi-tenant setup reduces vacancy risk and enhances income stability Why Room-by-Room Works Well Here: • Higher total income than whole-house rentals • Strong demand from students, workers, and medical professionals • Ideal for investors seeking high NOI and rent per square foot • Flexible layout suited for shared housing, workforce rentals, or multi-family use

82 Hoku Street Unit D, Hilo

Listing courtesy of Nathalie Mullinix R. U., Inc..

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Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on . Information is deemed reliable but not guaranteed. Copyright: 2026 by HiCentral MLS, Ltd. IDX information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.