Kapaa appreciation rates and housing market information

Kapaa housing market information

With 9,686 people, 3,667 houses or apartments, and a median cost of homes of $575,800, real estate costs in Kapaa are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Hawaii communities.

single-family detached homes are the single most common housing type in Kapaa, accounting for 73.85% of the town's housing units. Other types of housing that are prevalent in Kapaa include duplexes, homes converted to apartments, or other small apartment buildings (9.41%), large apartment complexes or high rise apartments (8.45%), and a few row houses and other attached homes (8.15%).

The most prevalent building size and type in Kapaa are three and four bedroom single-family detached homes. The town has a mixture of owners and renters, with 48.10% owning, and 38.40% renting.

There is a lot of housing in Kapaa built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Kapaa built from 1940-1969 (18.93%). A lesser amount of the housing stock also hails from 1995 and later (4.55%), and some were built from 1939 and earlier (4.55%).

Vacant housing appears to be an issue in Kapaa. Fully 13.50% of the housing stock is classified as vacant. Left unchecked, vacant Kapaa homes and apartments can be a drag on the real estate market, holding Kapaa real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Kapaa home appreciation rates

In the last 10 years, Kapaa has experienced some of the highest home appreciation rates of any community in the nation. Kapaa real estate appreciated 168.18% over the last ten years, which is an average annual home appreciation rate of 16.81%, putting Kapaa in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Kapaa definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Kapaa appreciation rates have trailed the rest of the nation. In the last twelve months, Kapaa's appreciation rate has been -3.24%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kapaa were at -1.27%, which equates to an annual appreciation rate of -5.08%.

Relative to Hawaii, our data show that Kapaa's latest annual appreciation rate is higher than 23% of the other cities and towns in Hawaii.