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 350,395 people, 128,935 houses or apartments, and a median cost of homes of $691,568, 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%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which 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.
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 39.48% over the last ten years, which is an average annual home appreciation rate of 3.38%, 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.
NeighborhoodScout's data show that during the latest twelve months, Honolulu's appreciation rate, at 6.38%, has been at or slightly above the national average. In the latest quarter, Honolulu's appreciation rate has been 1.72%, which annualizes to a rate of 7.06%.
Importantly, this makes Honolulu one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Hawaii, our data show that Honolulu's latest annual appreciation rate is lower than 60% 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.
|$896,001 - $1,195,000||19.4|
|$598,001 - $896,000||24.5|
|$478,001 - $598,000||10.8|
|$358,001 - $478,000||12.5|
|$239,001 - $358,000||9.2|
|$119,001 - $239,000||2.5|
|$60,001 - $119,000||1.0|
|$0 - $60,000||1.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
2000 Q1 - 2019 Q1
|* 10 is highest|
|AGE OF Honolulu HOMES|
|2000 or Newer||9.8|
|1970 - 1999||43.2|
|1940 - 1969||41.8|
|1939 or Older||5.1|
|TYPE OF Honolulu HOMES|
|Small Apt. Buildings||5.1|
|SIZE OF Honolulu HOMES|
|5 or more bedrooms||5.52|