Cheap studios in Honolulu. What's the catch?

[Tyler D.]

I was looking around at apartments in Honolulu today, and found a group of really cheap studios. They're all under $100k, and based on rental estimates would cashflow well. From what I've seen there are no HOA fees, so I'm wondering, what's the catch?

Here is an example of one that was sold recently: 

https://www.zillow.com/homedetails/410-Nahua-St-APT-402-Honolulu-HI-96815/2090546469_zpid/