Makawao, HI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Makawao, 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Makawao Housing Market Information

With 7,564 people, 2,286 houses or apartments, and a median cost of homes of $636,608, real estate costs in Makawao 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 Makawao, accounting for 85.45% of the town's housing units. Other types of housing that are prevalent in Makawao include row houses and other attached homes ( 5.81%), duplexes, homes converted to apartments or other small apartment buildings ( 5.38%), and a few large apartment complexes or high rise apartments ( 3.35%).

The most prevalent building size and type in Makawao are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 48.77% owning and 51.23% renting.

There is a lot of housing in Makawao 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 Makawao built between 1940-1969 ( 13.14%). A lesser amount of the housing stock also hails from before 1939 ( 8.07%). There's also some housing in Makawao built between 2000 and later ( 7.53%).

Vacant housing appears to be an issue in Makawao. Fully 10.84% of the housing stock is classified as vacant. Left unchecked, vacant Makawao homes and apartments can be a drag on the real estate market, holding Makawao 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.

Makawao Home Appreciation Rates

Real estate appreciation rates in Makawao's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.55% during the period.

NeighborhoodScout's data show that during the latest twelve months, Makawao's appreciation rate, at 5.29%, has been at or slightly above the national average. In the latest quarter, Makawao's appreciation rate has been -0.82%, which annualizes to a rate of -3.23%.

Notably, Makawao's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Hawaii, our data show that Makawao's latest annual appreciation rate is higher than 70% of the other cities and towns in Hawaii.

Average Home Values

 

Median Home Value:
$636,608

Makawao, HI HOME PRICES

Value Range
> $1,270,000 7.9
$952,001 - $1,270,000 10.1
$635,001 - $952,000 35.1
$508,001 - $635,000 23.3
$381,001 - $508,000 14.4
$254,001 - $381,000 4.8
$127,001 - $254,000 2.1
$64,001 - $127,000 0.4
$0 - $64,000 1.8

High for HI
Very High for Nation

Value Relative to Nation Value Relative to State
3.39857025665065 36.5384615384615

Number Of Homes And Apartments:
2,286

Makawao Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
HI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
112.45% 4.47% 4 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,025 / per month

Homeownership Rate

Homeownership
Owners 48.77
Renters 51.23
Vacant 10.84

Housing Market Details

 

Age of Homes

AGE OF Makawao HOMES
2000 or Newer 7.5
1970 - 1999 71.3
1940 - 1969 13.1
1939 or Older 8.1

Types of Homes

TYPE OF Makawao HOMES
Single-Family 85.5
Townhomes 5.8
Small Apt. Buildings 5.4
Apt. Complexes 3.4
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Makawao HOMES
No Bedroom 3.82
1 Bedroom 13.92
2 Bedrooms 27.69
3 Bedrooms 38.73
4 Bedrooms 9.98
5 or more bedrooms 5.85

Popular Neighborhoods in Makawao

Zip Codes in Makawao, HI