Honolulu, HI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Honolulu, HI Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Honolulu Housing Market Information

With a population of 350,395, 128,935 total housing units (homes and apartments), and a median house value of $696,613, 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 59.41% of the city's housing units. Other types of housing that are prevalent in Honolulu include single-family detached homes ( 26.75%), row houses and other attached homes ( 8.62%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.09%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

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 ( 41.80%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.84%). There's also some housing in Honolulu built before 1939 ( 5.14%).

Vacant housing appears to be an issue in Honolulu. Fully 14.11% 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.

Honolulu Home Appreciation Rates

In the last 10 years, Honolulu has experienced some of the highest home appreciation rates of any community in the nation. Honolulu real estate appreciated 37.93% over the last ten years, which is an average annual home appreciation rate of 3.27%, putting Honolulu in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Honolulu 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, Honolulu appreciation rates have trailed the rest of the nation. In the last twelve months, Honolulu's appreciation rate has been 4.41%, 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 0.40%, which equates to an annual appreciation rate of 1.61%.

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 70% 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.

Average Home Values

 

Median Home Value:
$696,613

Honolulu, HI HOME PRICES

Value Range
> $1,169,000 14.6
$876,001 - $1,169,000 18.6
$584,001 - $876,000 25.3
$468,001 - $584,000 10.9
$351,001 - $468,000 13.6
$234,001 - $351,000 11.2
$117,001 - $234,000 3.3
$58,001 - $117,000 1.0
$0 - $58,000 1.4

High for HI
Very High for Nation

Value Relative to Nation Value Relative to State
3.45693430656934 40.0

Number Of Homes And Apartments:
128,935

Honolulu Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
HI*
Compared To
America*
Latest Quarter:
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
Since 2000:
2000 Q1 - 2018 Q4
175.89% 5.41%
6
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,257 / per month

Homeownership Rate

Homeownership
Owners 42.38
Renters 57.62
Vacant 14.11

Housing Market Details

 

Age of Homes

AGE OF Honolulu HOMES
2000 or Newer 9.8
1970 - 1999 43.2
1940 - 1969 41.8
1939 or Older 5.1

Types of Homes

TYPE OF Honolulu HOMES
Single-Family 26.7
Townhomes 8.6
Small Apt. Buildings 5.1
Apt. Complexes 59.4
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Honolulu HOMES
No Bedroom 10.86
1 Bedroom 23.45
2 Bedrooms 33.63
3 Bedrooms 18.41
4 Bedrooms 8.13
5 or more bedrooms 5.52