Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 347,397, 128,814 total housing units (homes and apartments), and a median house value of $694,523, real estate costs in Honolulu 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.
Large apartment complexes or high rise apartments are the single most common housing type in Honolulu, accounting for 59.27% of the city's housing units. Other types of housing that are prevalent in Honolulu include single-family detached homes ( 26.49%), row houses and other attached homes ( 9.06%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.01%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
People in Honolulu primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Honolulu has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Honolulu built from 1970 to 1999 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 Honolulu built between 1940-1969 ( 40.94%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.77%). There's also some housing in Honolulu built before 1939 ( 5.26%).
Vacant housing appears to be an issue in Honolulu. Fully 14.90% of the housing stock is classified as vacant. Left unchecked, vacant Honolulu homes and apartments can be a drag on the real estate market, holding Honolulu 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.
Appreciation rates for homes in Honolulu have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 44.76%, which ranks in the top 30% nationwide. This equates to an annual average Honolulu house appreciation rate of 3.77%.
Over the last year, Honolulu appreciation rates have trailed the rest of the nation. In the last twelve months, Honolulu's appreciation rate has been 0.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Honolulu were at 0.24%, which equates to an annual appreciation rate of 0.96%.
Notably, Honolulu's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Hawaii, our data show that Honolulu's latest annual appreciation rate is lower than 90% of the other cities and towns in Hawaii.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Honolulu differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Honolulu - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Honolulu real estate investment or home purchase decisions.
|$839,001 - $1,118,000||18.2|
|$559,001 - $839,000||25.6|
|$447,001 - $559,000||9.8|
|$336,001 - $447,000||14.3|
|$223,001 - $336,000||9.2|
|$112,001 - $223,000||2.8|
|$56,001 - $112,000||1.0|
|$0 - $56,000||1.1|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
2000 Q1 - 2020 Q1
|* 10 is highest|
|AGE OF Honolulu HOMES|
|2000 or Newer||10.8|
|1970 - 1999||43.0|
|1940 - 1969||40.9|
|1939 or Older||5.3|
|TYPE OF Honolulu HOMES|
|Small Apt. Buildings||5.0|
|SIZE OF Honolulu HOMES|
|5 or more bedrooms||5.31|