In recent years, there has been an increasing number of information technologies utilized in buildings to advance the idea of “smart buildings”. Among various potential techniques, the use of Wi-Fi based indoor positioning allows to locate and track smartphone users inside a building, therefore, location-aware intelligent solutions can be applied to control and of building operations. These location-aware indoor services (e.g., path finding, internet of things, location based advertising) demand real-time accurate indoor localization, which is a key issue to guarantee high quality of service in smart buildings. This paper presents a new Wi-Fi based indoor localization technique that achieves significantly improvement of indoor positioning accuracy with the help of Li-Fi assisted coefficient calibration. The proposed technique leverages indoor existing Li-Fi lighting and Wi-Fi infrastructure, and results in a cost-effective and user-convenient indoor accurate localization framework. In this work, experimental study and measurements are conducted to verify the performance of the proposed idea. The results substantiate the concept of refining Wi-Fi based indoor localization with Li-Fi assisted computation calibration.