The subject of today’s snapshot is for Downtown, Honolulu, Hawaii. Based on our analysis, Honolulu’s year-over-year average rents increased across all bedroom types.

Our standard neighborhood analysis uses a 12-month “LookBack” to establish an average baseline rent. The results from the 12-month LookBack analysis are presented in the tables below for Downtown Honolulu 1–2 bedroom rents from January 1, 2021 – January 1, 2022:


As the table shows, 1BR units increased by 7% from last year or $119 more, and the 2BR units increased by 3% or $66 more. As demonstrated by the table, year-over-year performance for all selected bedroom types increased in rent prices from last year.

Market Activity: Honolulu, Hawaii

Are you interested in investing in Honolulu? Location is an important factor to consider when finding a profitable market for a rental property. The key characteristics of a good location include a strong economy, a growing labor force, and high rental demand. Below are some quick facts about the Honolulu rental market that can help you with your investment analysis and overall decision.

  • Price-to-Rent Ratio

    • Avg 2BR House Price: $795,496 (According to Redfin data)
    • Avg Annual 2BR Rent: $30,708 ($2,559 x 12 months)

  • Population Growth:

    • Honolulu County’s population grew 7% over the last decade and hit over 1 million people in 2020 (According to US Census)

  • Major Companies & Institutions:

    • Hawaii Pacific Health, Hawaiian Airlines, Kyo-Ya Hotels Resorts LP, Hawaiian Electric Industries, Kapalua Resort Association, First Hawaiian Bank, St. Francis Hospital

  • Employment Growth: 0.40% (According to the Department of Business, Economic Development & Tourism of Hawaii)


About Rentometer

Rentometer is the #1 tool for comparing residential rent rates anywhere in the U.S. To succeed as a real estate investor, you need solid, current market intelligence to help you set the right rent rates in Phoenix. Understanding local rents (and the factors that drive them) can help reduce investment risk, increase occupancy and improve your cash flow – and income. With Rentometer, you have local, current rents available right at your fingertips.

This article was written by the Rentometer Content Team. The Rentometer Blog features fresh takes and insights on rental housing topics, services, and technology.

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