3
Beds
Comparative Market Analysis
935 Mokulua Drive
Lanikai · Kailua, HI 96734
Prepared with aloha for Ms. Jennifer Kuang, Attorney for the Kosta Stojanovich Trust
by Sherine Duncan & Joel Cavasso · July 17, 2026
by Sherine Duncan & Joel Cavasso · July 17, 2026
2
Baths
1,665
Living sqft
0.30
Acre lot
1938
Year built
$1,502
Per sqft
Market Evidence
Comparable Properties
Sort
| Property | Status | Bd/Ba | Living | $/sqft | Lot (ac) | Built | Price |
|---|---|---|---|---|---|---|---|
| 935 Mokulua DrSUBJECT Lanikai · deeded beach access | — | 3/2 | 1,665 | — | 0.30 | 1938 | — |
| 1421 Aalapapa Dr Lanikai · 3 DOM | Sold | 2/1 | 806 | $2,853 | 0.25 | 1939 | $2,300,000 |
| 925 Aalapapa Dr Lanikai · 14 DOM | Sold | 4/2 | 1,216 | $1,891 | 0.28 | 1995 | $2,300,000 |
| 300 Poopoo Pl Lanikai · 162 DOM | Sold | 3/2.5 | 1,700 | $1,553 | 0.23 | 1957 | $2,640,000 |
| 220 Poopoo Pl Lanikai · 80 DOM | Sold | 4/2.5 | 1,752 | $1,627 | 0.23 | 1989 | $2,850,000 |
CMA Summary
Opinion of ValueSuggested List Price
$2,500,000
Recommended range $2,400,000 – $2,700,000
$2,850,000
High Sold
$2,300,000
Low Sold
$2,522,500
Average Sold
$2,470,000
Median Sold
Statistics across the four selected Lanikai sold comparables. Subject $/sqft at suggested price: ~$1,502.
Our Recommendation
935 Mokulua Drive is a classic Lanikai opportunity — a large, level, fee-simple lot on Mokulua Drive that conveys together with a perpetual right-of-way easement to the high-water mark of the sea (per the recorded Land Court legal description, Application 505, across Lots B–H) — the rare, recorded ocean access that defines this stretch of Lanikai. The 1938 home is well-kept and comfortable; its value today rests on the land, the location, and that deeded ocean access, with clear upside for a buyer who updates or rebuilds.
The comparable Lanikai sales run from $2.30M (1421 & 925 Aalapapa) to $2.85M (220 Poopoo), averaging $2,522,500. 935 Mokulua carries the largest lot of the group and the deeded ocean access most comparables lack — placing it right at that market average.
We recommend listing at $2,500,000 — squarely at the market average, sharp enough to draw immediate attention and competing offers, while the lot size and beach access leave room to negotiate toward the high-$2Ms. It’s a price that invites competition rather than chasing it. We’d be glad to walk through the strategy with you and the trust.
Ocean-access easement verified in the public record (CoreLogic Realist / Honolulu County; recorded Land Court legal description, App. 505). For reference, the 2026 City & County assessed value is $3,108,400 (land $2,191,400 + improvements $917,000). Buyer to confirm all easements, encumbrances, and tenure via preliminary title report.
With Aloha,
Sherine Duncan, RS
RS-76286
(808) 554-2262 · Sherine@HawaiiLuxHomes.com
Joel Cavasso, RB
RB-13463
(808) 216-9988 · JoelCavasso@me.com
The Lanikai LUX Team of eXp Realty · RB-21841
This Comparative Market Analysis is a broker’s opinion of value based on current market data (HiCentral MLS and public records, deemed reliable but not guaranteed) and is not an appraisal. Actual sale price depends on market conditions, property condition, terms, and buyer demand. Prepared July 17, 2026.