The paper aims to propose a mapping design for Muhammadiyah productive waqf which actually could generate optimum benefit. In general, Economic problem mapping design is mainly discussed from the conventional perspective. Muhammadiyah waqf institutions, as Da’wa organization-based institutions, have inherent characteristics that differ from conventional ones. This is the main reason to study the problem mapping from an Islamic perspective. The research method in this study is qualitative. Examples are taken from Muhammadiyah waqf institutions in Yogyakarta-Indonesia. To gather information, in-depth interviews were conducted and observations were made. The results appear to show that instead of having introduced hospital and educational institution, on general, the Muhammadiyah waqf asset are still managed mainly based on traditional model such as mosques and empty-lands which were have obstacles in optimizing their benefits. This may due to Muhammadiyah waqf institutions having unique characteristics, since they are highly dependent on Muhammadiyah volunteer and less professional nadzir (internal factors); and lack of public understanding on productive waqf, as well as government support (external factors). Both are causing Muhammadiyah waqf institutions have to be more “creative” in order to survive in an unconducive environment.