According to the Hawaii Department of Transportation, the small plane crashed near Daniel K. Inouye International Airport.
The plane was conducting a training flight, according to ABC News, when the pilot lost control shortly after takeoff.
Dashcam video appears to show the plane turning sharply downward before crashing.
The pilot was overheard scrambling to find a place to land.
"We're out of control here," the pilot is heard telling the air traffic control tower.
The pilot was instructed to try and land, but was unsuccessful.
The small plane crashed through an empty building that was already scheduled for demolition.
Multiple fire crews were on scene monitoring the incident.
Witnesses describe hearing a loud boom before the crash.
ABC affiliate KITV reports that one of the victims was just 22 years old. He was a graduate training for his pilot's license.
The plane was a general aviation aircraft that provides local air cargo services, so it was not meant for passengers.
The FAA and NTSB are investigating the crash.
CNN and ABC News contributed to this report.