Kiwi’s increased popularity as a healthy fruit with several agro-food applications has increased the amount of bio-waste produced like leaf, peel, and seed by-products, usually combined to form a kiwi pomace, which increases the environmental footprint of kiwi fruit and waste management costs. The aim of the present study is to thoroughly review and outline the nutritional content and bioactive components of both kiwi fruit and its by-products, as well as the innovative approaches to obtain and valorize kiwi’s bioactives, phytochemicals, vitamins, and nutrients in several functional food products, nutraceuticals, and cosmetics applications with health-promoting properties. The antioxidant and anti-inflammatory properties and mechanisms of action of the extracted polyphenols, flavonoids, flavones, organic acids, and other bioactive components in both the fruit and in its functional products are also elucidated. Emphasis is given to those bioactive ingredients and extracts from kiwi by-products that can be valorized in various functional foods, supplements, nutraceuticals, nutricosmetics, cosmeceuticals, and cosmetics-related applications, with antioxidant and anti-inflammatory health-promoting properties. Characteristic examples with reported health benefits are the functional kiwi fruit jelly (FKJ),fermented kiwi fruit products like wine, starchy kiwi fruit flour (SKF), and kiwi-derived functional protein bars, cheese and flour, as well as several nutraceuticals and functional cosmetics with kiwi bioactives improving their antioxidant, antiaging, and photoprotective properties, collagen synthesis, skin density, hydration, elasticity, and the wound healing process, while beneficially reducing skin roughness, wrinkles, hyperpigmentation, keratinocyte death, and DNA and cell damage. The limitations and future perspectives for these kiwi bioactive-based applications are also discussed.