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Honolulu Rental Market Data for Second Quarter 2015

Rental market data for Q2 2015 for the City and County of Honolulu shows that the residential rental market continues to remain strong.  While vacancy rates were up 25% from 6% in Q2 2014 to 7.5% in Q2 2015, average days on the market were also down by 26% from 79 days to 58. The average cap rate was up slightly from 5.08% to 5.35% a 5% increase, and property appreciation continued to climb 2% from 5.35% to 5.47%.

The following table summarizes the change from Q2 2014 to Q2 2015:

Q2 2015 Q2 2014 Change:
Vacancy Rate: 7.5% 6% Up 25%
Cap Rate: 5.35% 5.08% Up 5%
Property Appreciation: 5.47% 5.35% Up 2%
Days on Market: 58 79 Down

 

Real estate investors and property owners wanting renting out their properties should contact Real Property Management Alliance’s team of experts at (808) 445-9500.