Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Hawaii County | Hawaii Avg | US Average |
|---|---|---|---|
| Median Home Price | $376,282 | $555,557 | $242,182 |
| Price Trend (Annual %) | 10.1% | 2.3% | 8.2% |
| Median Gross Rent | $1,410 | $1,937 | $1,342 |
| Rent Trend (Annual %) | 3.7% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hawaii County is about 32% lower than in Hawaii. Rent is about 27% lower than the Hawaii average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Hawaii County, up about 10.1% and 3.7% a year respectively. Home prices are changing faster.
Median rent in Hawaii County rose about 33.6% between 2015 and 2023, from $1,055 to $1,410. Over the same span, rent in Hawaii rose about 34.7%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Hawaii County.
Buying the median-priced home in Hawaii County costs roughly 22.2 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Hawaii County. The price-to-rent ratio in Hawaii is about 23.9.
| Metric | Hawaii County | Hawaii Avg | US Average |
|---|---|---|---|
| Median Home Price | $376,282 | $555,557 | $242,182 |
| Median Household Income | $77,887 | $98,332 | $78,145 |
| Price-to-Income Ratio | 4.8 | 5.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hawaii County rose about 91.7%, while median household income rose about 38.7% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hawaii County | Hawaii Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.4% | 54.1% | 58.2% |
| Rental Rate | 21.9% | 32.5% | 31.3% |
| Vacancy Rate | 18.7% | 13.4% | 10.6% |
| Median Tenure (years) | 17.0 | 17.0 | 15.0 |
| Median Year Moved In | 2009 | 2009 | 2011 |
Hawaii County has a homeownership rate of 59.4%, higher than the Hawaii average of 54.1%. Its housing vacancy rate is 18.7%, compared with 13.4% in Hawaii.
Housing Stock
| Metric | Hawaii County | Hawaii Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.73 people | 2.87 people | 2.54 people |
| Median Structure Built Year | 1988 | 1981 | 1978 |
| Median Number of Rooms | 4.9 | 4.7 | 5.5 |
The typical housing unit in Hawaii County was built around 1988. On average, 2.7 people live in a home with about 4.9 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hawaii County, Hawaii.
What is the median home price in Hawaii County, Hawaii?
The median home price in Hawaii County, Hawaii is $376,282, lower than the Hawaii average of $555,557.
What is the average home price in Hawaii County, Hawaii?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Hawaii County, Hawaii?
The median gross rent in Hawaii County, Hawaii is $1,410 per month, lower than the Hawaii average of $1,937.
What was the median gross rent in Hawaii County in 2020?
In 2020, the median gross rent in Hawaii County, Hawaii was $1,213 per month.
What is the price-to-rent ratio in Hawaii County, Hawaii?
The price-to-rent ratio in Hawaii County, Hawaii is about 22.2, meaning it would take roughly 22.2 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Hawaii County.
Are home prices or rent rising faster in Hawaii County, Hawaii?
Both home prices and rent are rising in Hawaii County, up about 10.1% and 3.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hawaii County, Hawaii?
59.4% of households in Hawaii County, Hawaii own their home, higher than the Hawaii average of 54.1%.
What is the vacancy rate in Hawaii County, Hawaii?
The housing vacancy rate in Hawaii County, Hawaii is 18.7%, higher than the Hawaii average of 13.4%.