In recent years, along with the advances made in performance-based design optimization, the need for fast calculation of response parameters in dynamic analysis procedures has become an important issue. The main problem in this field is the extremely high computational demand of time-history analyses which may convert the solution algorithm to illogical ones. Two simplifying strategies have shown to be very effective in tackling this problem; first, simplified nonlinear modeling investigating minimum level of structural modeling sophistication, second, wavelet analysis of earthquake records decreasing the number of acceleration points involved in time-history loading. In this paper, we try to develop an efficient framework, using both strategies, to solve the performance-based multi-objective optimal design problem considering the initial cost and the seismic damage cost of steel moment-frame structures. The non-dominated sorting genetic algorithm (NSGA-II) is employed as the optimization algorithm to search the Pareto optimal solutions. The constraints of the optimization problem are considered in accordance with Federal Emergency Management Agency (FEMA) recommended design specifications. The results from numerical application of the proposed framework demonstrate the capabilities of the framework in solving the present multi-objective optimization problem.