Price Improvement! Fabulous Kailua Location! Rare opportunity to own a home on desired Ilimalia Lp in the coveted Aikahi School District. This spacious and well-maintained 5bed, 3bath residence sits on an 8,800 sq ft lot, offering flexibility, comfort and endless possibilities. The main home features high open beam ceilings, an open floor plan, and beautiful hardwood flooring. The upstairs unit includes a large breezy lanai and offers stunning views of Olomana, the Koolaus, sunrises and sunsets. Additional highlights include an X-large carport w/ workstation, 3 sinks and extra storage, new roof in 2014, and enclosed tropical backyard w/ a beautiful avocado tree, a variety of other fruit trees, plus Tahitian Gardenia and crown flower. Currently configured as a multigenerational property w/ possible rental income, or can easily be used as one large 5bed/3bath single-family residence. Just minutes to world-famous Kailua Beach, MCBH, top-rated schools, shops, dining, and w/ easy access to H-3, this home is truly a gem in one of Kailua's most sought-after neighborhoods. Don't miss your chance to own a piece of paradise-this is the dream home you've been waiting for! Tax records differ.