Mililani Terrace — Townhomes on Hanile Street
Mililani Terrace is a 224-unit townhome community on Hanile Street in Mililani. Built in 1986, it is one of the most affordable entry points into Mililani real estate, with recent sales ranging from $399,000 to $490,000. The complex features a mix of tenure types and offers low monthly maintenance fees, making it attractive to first-time buyers, military families, and investors alike.
Building Details
| Address | 95-630 Hanile St, Mililani, HI 96789 |
| Year Built | 1986 |
| Number of Units | 224 |
| Stories | 2 |
| Tenure | Mix (Fee Simple and Leasehold) |
| Style | Low-Rise Townhome |
| Price Range | $399,000 – $490,000 |
| Maintenance Fee | ~$371/month |
| Owner Occupancy | 37% |
| Pet Friendly | No |
| FHA Approved | No |
| Vacation Rentals | Not permitted |
What It’s Like Living at Mililani Terrace
Mililani Terrace is a go-to for buyers who want to be in Mililani without stretching their budget. The maintenance fee of around $371 per month is among the lowest in the area, and it covers common area upkeep, a walking and jogging path, and an on-site resident manager. The 37% owner-occupancy rate means a significant number of units are renter-occupied, which is typical for the more affordable Mililani complexes and reflects strong rental demand.
One important detail: Mililani Terrace has a mix of fee simple and leasehold units. Buyers need to verify the tenure of any specific unit before making an offer, as leasehold units come with different long-term cost considerations. Fee simple units here are straightforward to finance, while leasehold units may have limited lender options.
Location Highlights
- Located on Hanile Street in the northern section of Mililani Town
- Near Mililani Waena Elementary, Mililani Middle School, and Mililani High School
- Close to parks and greenbelts
- Easy access to H-2 freeway
- Near Schofield Barracks and Wheeler Army Airfield
Why Buyers Like Mililani Terrace
Starting under $400,000, Mililani Terrace is one of the most affordable ways to own property in Mililani. The low maintenance fees keep monthly costs manageable, and the 224-unit complex means there is usually inventory available for buyers. For investors, the strong rental market in Mililani and the low barrier to entry make Terrace units a practical income property option.