Hawaii Housing Market Prices
Hawaii Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 113% above the US median Among the 3 most expensive states in US$529,214
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Median rent 40% above the US median Among the 3 most expensive states in US$1,970
Median Home Price Map: Counties in Hawaii
Housing Market Overview
| Metric | Hawaii | US Average |
|---|---|---|
| Median Home Price | $529,214 | $248,835 |
| Price Trend (Annual %) | 1.5% | 7.5% |
| Median Gross Rent | $1,970 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Hawaii is about 113% higher than in US. Rent is about 40% higher than the US average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Hawaii, up about 1.5% and 3.9% a year respectively. Rent is changing faster.
Median rent in Hawaii rose about 37.0% between 2015 and 2024, from $1,438 to $1,970. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Hawaii.
Buying the median-priced home in Hawaii costs roughly 22.4 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. The price-to-rent ratio in US is about 14.7.
| Metric | Hawaii | US Average |
|---|---|---|
| Median Home Price | $529,214 | $248,835 |
| Median Household Income | $100,437 | $80,455 |
| Price-to-Income Ratio | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Hawaii rose about 31.3%, while median household income rose about 49.5% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Hawaii | US Average |
|---|---|---|
| Homeownership Rate | 54.7% | 58.5% |
| Rental Rate | 32.1% | 31.2% |
| Vacancy Rate | 13.3% | 10.2% |
| Median Tenure (years) | 17.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 |
Hawaii has a homeownership rate of 54.7%, lower than the US average of 58.5%. Its housing vacancy rate is 13.3%, compared with 10.2% in US.
Housing Stock
| Metric | Hawaii | US Average |
|---|---|---|
| Average Household Size | 2.84 people | 2.53 people |
| Median Structure Built Year | 1982 | 1978 |
| Median Number of Rooms | 4.7 | 5.5 |
The typical housing unit in Hawaii was built around 1982. On average, 2.8 people live in a home with about 4.7 rooms, staying for about 17.0 years on average.
Hawaii Housing Compared With Nearby States
Hawaii is the 4th largest of the 5 states compared here, 1,440,047 residents against a local median of 3,718,004. Where Hawaii breaks from the states next to it is median home price, sitting 38% above the local median of $382,181 at $529,214.
Median rent tells the same story from another angle: $1,970 against a local median of $1,561, 26% above it. The states themselves spread $330,178 on median home price, so Hawaii sits at one end of an already wide local range rather than apart from it. Hawaii has the 2nd highest median home price of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Hawaii | 1,440,047 | $529,214 #2/5 | $1,970 #2/5 | 63.0% #3/5 |
| California | 39,245,658 | $650,794 | $2,036 | 55.9% |
| Alaska | 735,577 | $320,616 | $1,418 | 66.8% |
| Oregon | 4,252,306 | $406,603 | $1,525 | 63.3% |
| Nevada | 3,183,702 | $357,758 | $1,597 | 60.0% |
Frequently Asked Questions
Common questions about the housing market in Hawaii.
What is the median home price in Hawaii?
The median home price in Hawaii is $529,214, higher than the US average of $248,835.
What is the average home price in Hawaii?
The typical home price in Hawaii, reported as the median sale price, is $529,214. 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?
The median gross rent in Hawaii is $1,970 per month, higher than the US average of $1,407.
What was the median gross rent in Hawaii in 2020?
In 2020, the median gross rent in Hawaii was $1,650 per month.
What is the price-to-rent ratio in Hawaii?
The price-to-rent ratio in Hawaii is about 22.4, meaning it would take roughly 22.4 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.
Are home prices or rent rising faster in Hawaii?
Both home prices and rent are rising in Hawaii, up about 1.5% and 3.9% a year respectively. Rent is changing faster.
What is the homeownership rate in Hawaii?
54.7% of households in Hawaii own their home, lower than the US average of 58.5%.
What is the vacancy rate in Hawaii?
The housing vacancy rate in Hawaii is 13.3%, higher than the US average of 10.2%.
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