Performance indicators for the Papaikou short-term rental market based on reliable data.
Listings
Reliable / Active
Cap Rate
Middle-Earners Gross Yield
Revenue
Middle-Earners Revenue
Occupancy
Middle-Earners Occupancy
Home Value
Median Home Sale Price
Top Earners
Top-Earners Revenue
The highest-performing listings in Papaikou.
Loading top listings...
Challenging to Investors
STRs are allowed under Hawaii County, but unhosted rentals are limited to specific commercial/resort zones and hosted operations in most residential areas require a Nonconforming Use Certificate; permitting is expensive ($1,000 initial + $250 annual for unhosted TAR; $500 issuance + $500 renewal for NUC) with strict operational standards and escalating fines ($2,500/$5,000/$10,000), creating a burdensome compliance environment for investors.
Local STR Agent
STR specialist · Papaikou, HI
Papaikou is a small community on the windward coast of the Big Island of Hawaii, situated in the South Hilo District of Hawaii County. With a population of roughly 1,200, it has the unhurried, lived-in feel of an old sugar plantation town, a heritage that dates back to the 1880s when the Onomea Sugar Company helped shape the surrounding landscape. Today Papaikou serves as a quiet gateway to the scenic Hamakua Coast, drawing visitors who prefer a slower, more residential alternative to busier resort areas. It sits approximately seven miles north of Hilo, the island's largest town, and is reached by a short, easy drive along the Hawaii Belt Road.
Just minutes north of Papaikou, the Hawaii Tropical Botanical Garden occupies a lush ravine overlooking Onomea Bay. Spanning more than 2,000 species of tropical plants, the garden follows a loop trail that descends through palms, orchids, and heliconias before emerging at the rugged Pacific coastline. It is a well-known stop for visitors interested in both horticulture and shoreline scenery, and it is essentially on Papaikou's doorstep, only a few minutes up the highway.
A short drive further up the coast, about twenty miles north of town, Akaka Falls State Park features one of the Big Island's most photographed waterfalls. The park's paved loop trail passes through a dense forest of bamboo, banana, and towering tree ferns before reaching the main overlook, where Akaka Falls plunges 442 feet into a stream-cut gorge. Honomu, a small plantation-era town at the entrance to the park, adds a touch of historic charm with its wooden storefronts and local eateries.
To the south, accessible via Hilo and continuing across the island, Hawaii Volcanoes National Park is the Big Island's marquee natural attraction. The drive from Papaikou to the park's main entrance is roughly 45 miles, or just over an hour under typical conditions, leading visitors into a landscape of volcanic craters, lava fields, and, in active periods, glowing flow viewpoints. Closer to home, Hilo itself is only about fifteen minutes away, offering a working harbor, the Pacific Tsunami Museum, the farmers' market-lined bayfront, and a wider choice of restaurants and shops than Papaikou provides on its own.
For short-term-rental owners and guests, Papaikou's appeal lies in this balance: it is genuinely residential and tranquil, yet within easy reach of the island's most celebrated natural wonders. The combination of plantation-era atmosphere, immediate access to the botanical garden and Hamakua Coast, and a straightforward drive to both Hilo and the volcano makes it a versatile base for travelers who want to experience the Big Island without the crowds of the resort districts.