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Leasehold homes

Hawaii leasehold single family homes for sale

Here are some homes throughout Oahu that are leasehold properties.  Please bear in mind, leasehold property owners pay lease rent in addition to their mortgage and taxes.  Lease terms must be longer than the mortgage, e.g. a lease must have 30+ years left for a buyer to obtain a 30 year mortgage on the property.  See our Hawaii leasehold property guide for more information.

Some listings say "must be 50% Hawaiian," they are Department of Hawaiian Homelands (DHHL) properties.  They are leased to those persons who have documented Hawaiian ancestry - at least 50%.  Each purchase is reviewed and approved by the Department of Hawaiian Homelands (DHHL).  If a buyer does not have documented evidence of Hawaiian ancestry, the DHHL will not approve the sale.

Q. Why would anybody buy a leasehold property?  A. Because the initial purchase price is less than a fee simple purchase price. 

Q. What's the catch to buying leasehold?  A. You don't own it forever.  When you buy leasehold, the lease has a specific time period that you will possess the property. 

Oahu's DHHL homes locations

  1. Waianae - from Nanakuli to Makaha, has the most DHHL homes for sale and they tend to be older.  Some are tear-downs.
  2. Kapolei - has newer homes DHHL homes, usually in move-in condition.
  3. Papakolea - in Honolulu, tends to have older homes.  The location is popular because it's right in town.
  4. Waimanalo - has DHHL homes and also Hawaii Housing Finance and Development (HHFDC) homes.  HHFDC homes are a good deal with favorable leases however the fee simple interests are not available.
  5. Windward Oahu - occasionally has DHHL homes listed for sale.  They are few and far between.  Many leasehold listings in the windward area are Bishop Estate aka Kamehameha Schools with very high lease rent and the fee simple interest, if available, is very pricey.

View all Oahu leasehold homes for sale

This is just a sample of the properties available.  Please fill out our contact form to see more leasehold property listings.

Also checkout our Hawaii leasehold condos page.

More information about Hawaiian Homelands

The Hawaiian Homes Commission Act became U.S. law in 1921. The United States set aside approximately 200,000 acres of Hawaiian land for native Hawaiians through a government sponsored homesteading program. 

Eligibility - Persons with at least 50% Hawaiian ancestry may apply for and purchase a long term lease from the Department of Hawaiian Homelands (DHHL).  Persons with at least 25% but less than 50% Hawaiian may acquire DHHL property from a spouse or sibling who is 25% or more Hawaiian or from a parent or grandparent who is 50% or more Hawaiian.

Simultaneous transfers - For prospective buyers with 25% Hawaiian ancestry, a parent or grandparent with at least 50% Hawaiian ancestry can acquire a property and simultaneously transfer it to their child or grandchild who is at least 18 years of age. The ultimate recipient (child or grandchild) would apply for the mortgage loan, if any.  The parent or grandparent initiating the transfer does not need to qualify for the mortgage loan.

13 Results Days on Site (new to old)
$499,000 New For Sale
87-196 Waiolu Street
Waianae, HI 96792
5 beds, 2 full, 1 partial baths | Single Family Home
2,752 sq ft; lot: 5672 sq ft lot
$239,900 For Sale
98-1870 Kaahumanu Street #A
Pearl City, HI 96782
3 beds, 2 full, 1 partial baths | Single Family Home
1,464 sq ft; lot: 3842 sq ft lot
$165,000 For Sale
Lot #71 Moomomi Avenue
Hooleihua, HI 96729
2 beds, 1 bath | Single Family Home
778 sq ft; lot: 40 acres
$425,000 For Sale
91-219 Pilipiliula Place
Kapolei, HI 96707
3 beds, 2 baths | Single Family Home
1,168 sq ft; lot: 5319 sq ft lot
$615,000 For Sale
91-1045 Hoakalei Street
Kapolei, HI 96707
4 beds, 2 full, 1 partial baths | Single Family Home
2,527 sq ft; lot: 5001 sq ft lot
$229,000 For Sale
98-1860 Kaahumanu Street #H
Pearl City, HI 96782
3 beds, 2 baths | Single Family Home
1,165 sq ft; lot: 3746 sq ft lot
$99,900 For Sale
94-125 Pahu Street #17
Waipahu, HI 96797
4 beds, 2 baths | Single Family Home
1,642 sq ft; lot: 5284 sq ft lot
$239,900 For Sale
85-1051 Hookuikahi Street
Waianae, HI 96792
3 beds, 2 baths | Single Family Home
1,124 sq ft; lot: 3798 sq ft lot
$475,000 For Sale
91-1074 Koanimakani Street
Kapolei, HI 96707
4 beds, 2 full, 1 partial baths | Single Family Home
1,495 sq ft; lot: 5171 sq ft lot
$425,000 For Sale
41551 Piohia Place
Waimanalo, HI 96795
4 beds, 2 baths | Single Family Home
1,152 sq ft; lot: 8655 sq ft lot
Listings 1-10 out of 13 Previous 1 2         Next

Mike Bates
Realtor Associate
Century 21 iProperties Hawaii

1585 Kapiolani Blvd #1533
Honolulu, HI 96814
Phone: 808-548-1220


I have been selling and buying properties in Canada, Hawaii and Japan for nearly 40 homes and found out Mr. Mike Bates is one of the best and I call him the king of real estate in Hawaii. I will keep asking him to buy and sell properties in the future for sure!

Thank you very much Mike for your great services and hard working manner for me in the past, present and future.
Yuji - April 2019
Mike was awesome. He was very patient and understanding with us. There were times where we just wanted to put things on hold due to the frustration however Mike stuck in with us. We truly appreciate all that he has done for us and will definitely recommend hom to any family or friends that are looking to buy a home. Alton and Janeen K. - August 2018
Excellent customer service! We bought and sold our home with Mike, he is the best realtor in Hawaii. Jerry and Candace G. - July 2018
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