Honolulu Rental Market Statistics for the 1st quarter of 2015
Honolulu has the 15th best ROI (Return on Investment) in the west according to national rental property data. The average capitalization rate for the 1st quarter of 2015 was 5.74% compared to a 7.18% cap rate nationally, while property appreciation averaged 5.53% compared to 5.65% nationally. The vacancy rate averaged 9.0% compared to 7.12% nationally and the average days on the market were 56 compared to 70 nationally.
Overall Honolulu’s rental market remains strong as demand continues to outpace supply. While there are new rental properties coming on the market in areas such as Kakaako and Kapolei, the demand continues to be high for affordable rental units across the island of Oahu.