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 about Scout's Real Estate Data
With 343,421 people, 134,264 houses or apartments, and a median cost of homes of $855,537, 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 59.50% of the town's housing units. Other types of housing that are prevalent in Honolulu include single-family detached homes ( 27.23%), row houses and other attached homes ( 7.71%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.25%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns 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 ( 37.46%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.92%). There's also some housing in Honolulu built before 1939 ( 4.89%).
Vacant housing appears to be an issue in Honolulu. Fully 13.65% 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Honolulu, where house values have increased just 41.45%, which is annualized rate of 3.53%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
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 -3.44%, 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 0.83%, which equates to an annual appreciation rate of 3.36%.
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 town. 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.
$855,537
for Hawaii
for nation
134,264
$2,765 / per month