Landmark Redevelopment Opportunity in the Heart of Hilo Positioned along the serene shoreline of Waiakea Pond and just steps from the vibrant waterfront of Hilo Bay, 399 Hualani Street offers an exceptional chance to acquire a significant fee simple commercial property in East Hawai‘i’s urban core. This prime site enjoys direct waterfront proximity, bordering Waiakea Pond and offering scenic views and immediate access to the bayfront’s pathways and recreation. It sits within easy walking distance of Historic Downtown Hilo’s shops, dining, cultural landmarks, and government services. The property is strategically positioned near Banyan Drive and Kamehameha Avenue, placing it at the center of Hilo’s hospitality and tourism corridor. Major community anchors—including Hilo International Airport, the University of Hawai‘i at Hilo, Hilo Medical Center, and the Port of Hilo—are just minutes away, enhancing the site’s appeal for a wide array of potential uses. Encompassing 221,375 square feet of fee simple land (approximately 5.08 acres) and comprised of 32 individual condominium units totaling 94,752 square feet of building area, this rare asset offers immense potential for redevelopment, repositioning, or income- generating uses. Its significant scale and flexible V-0.75 (Resort-Hotel District) zoning unlock diverse possibilities for transformative projects that can reshape the Hilo waterfront landscape.