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.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.