The market in numbers
Home values over the last two years
The typical home in Hawaii was worth $834,300 in September 2024 and $839,000 in August 2026, a change of +0.6% over two years. Values are at the highest point of the period.
Housing markets by metro
Typical home value, 12-month change and rents for each metro area in Hawaii, largest first. Linked metros have their own report, ZIP code by ZIP code.
| Metro area | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Honolulu | 28 | $871,600 | +2.5% | $2,900 | 4.0% |
| Kahului | 14 | $937,400 | −4.8% | $3,200 | 3.9% |
| Hilo | 24 | $552,200 | +1.8% | $2,500 | 4.2% |
| Kapaa | 12 | $950,400 | +1.6% | n/a | n/a |
Home values by county
Of Hawaii's 4 counties, Kauai County has the highest typical home value, $950,400, and Hawaii County the lowest, $552,200. Among counties with at least five ZIP codes, Honolulu County has risen most over the year, up 2.5%, and Maui County has moved least, down 4.8%.
Show all 4 counties
| County | ZIP codes | Home value | 12 months | Monthly rent | Gross yield |
|---|---|---|---|---|---|
| Kauai County | 12 | $950,400 | +1.6% | n/a | n/a |
| Maui County | 14 | $937,400 | −4.8% | $3,200 | 3.9% |
| Honolulu County | 28 | $871,600 | +2.5% | $2,900 | 4.0% |
| Hawaii County | 24 | $552,200 | +1.8% | $2,500 | 4.2% |
Where prices are rising fastest
The ten ZIP codes with the strongest change in home values over the past twelve months. Among the larger half of Hawaii's ZIP codes by population, so that places with only a handful of sales a year do not crowd the list.
| ZIP code | Area | Home value | 12 months | 5 yrs, per year |
|---|---|---|---|---|
| 96819 | Honolulu | $1,091,900 | +6.0% | +3.3% |
| 96720 | Hilo | $551,100 | +5.3% | +5.2% |
| 96816 | Honolulu | $1,287,900 | +5.2% | +2.6% |
| 96821 | Honolulu | $1,834,500 | +4.8% | +4.7% |
| 96712 | Haleiwa | $1,730,900 | +4.8% | +3.1% |
| 96766 | Lihue | $845,200 | +4.3% | +6.3% |
| 96817 | Honolulu | $793,700 | +3.8% | +1.9% |
| 96792 | Waianae | $575,600 | +3.5% | +2.0% |
| 96744 | Kaneohe | $1,090,500 | +3.5% | +2.7% |
| 96795 | Waimanalo | $1,096,700 | +3.3% | +2.9% |
Where prices are falling
Across Hawaii, 26 ZIP codes are below where they were a year ago. These are the ten largest declines among the larger half by population.
| ZIP code | Area | Home value | 12 months | From its peak |
|---|---|---|---|---|
| 96753 | Kihei | $988,500 | −7.4% | −15.5% |
| 96761 | Lahaina | $963,800 | −7.2% | −18.1% |
| 96732 | Kahului | $1,019,000 | −2.6% | −7.3% |
| 96818 | Honolulu | $511,600 | −2.5% | −9.1% |
| 96826 | Honolulu | $459,300 | −2.1% | −12.3% |
| 96793 | Wailuku | $910,900 | −2.0% | −7.5% |
| 96704 | Captain Cook | $453,100 | −1.3% | −10.9% |
| 96778 | Pahoa | $287,800 | −1.2% | −11.9% |
| 96708 | Haiku | $1,291,800 | −1.2% | −4.5% |
| 96768 | Makawao | $1,111,600 | −0.9% | −3.5% |
Best rental yields
Gross yield is a year's rent divided by the home value, before costs. These are the highest yields among the larger ZIP codes with rent data.
| ZIP code | Area | Home value | Monthly rent | Gross yield | Rent, 12 months |
|---|---|---|---|---|---|
| 96778 | Pahoa | $287,800 | $1,900 | 7.8% | n/a |
| 96815 | Honolulu | $498,600 | $2,800 | 6.7% | +6.1% |
| 96818 | Honolulu | $511,600 | $2,600 | 6.0% | +5.3% |
| 96814 | Honolulu | $672,800 | $3,200 | 5.8% | +3.5% |
| 96826 | Honolulu | $459,300 | $2,200 | 5.7% | +5.2% |
| 96706 | Ewa Beach | $826,500 | $3,500 | 5.2% | +6.5% |
| 96707 | Kapolei | $851,800 | $3,500 | 4.9% | +5.7% |
| 96792 | Waianae | $575,600 | $2,300 | 4.9% | −0.8% |
| 96813 | Honolulu | $732,300 | $3,000 | 4.8% | +3.9% |
| 96720 | Hilo | $551,100 | $2,100 | 4.6% | n/a |
Most affordable against local incomes
Home value divided by the median household income of the people who live in the ZIP code. A lower multiple means homes cost fewer years of local earnings. The state typical is 8.4×.
| ZIP code | Area | Home value | Median income | Price to income |
|---|---|---|---|---|
| 96818 | Honolulu | $511,600 | $100,600 | 5.1× |
| 96704 | Captain Cook | $453,100 | $86,900 | 5.2× |
| 96749 | Keaau | $467,100 | $85,400 | 5.5× |
| 96706 | Ewa Beach | $826,500 | $129,500 | 6.4× |
| 96815 | Honolulu | $498,600 | $77,100 | 6.5× |
| 96792 | Waianae | $575,600 | $87,500 | 6.6× |
| 96822 | Honolulu | $643,900 | $95,900 | 6.7× |
| 96826 | Honolulu | $459,300 | $68,300 | 6.7× |
| 96720 | Hilo | $551,100 | $80,900 | 6.8× |
| 96789 | Mililani | $878,700 | $127,100 | 6.9× |
Who is moving in
Household moves between the 2022 and 2023 tax years, measured county by county. Summed across its counties, Hawaii lost 5,194 households on net, and the households that left took $7m more income than the arrivals brought. Of its 4 counties, one gained households. The tables show the largest gains and losses; the last column is how much more, or less, the average arriving household earned than the average household that left.
| County | Net households | Net income moved | Arrivals vs leavers, per household |
|---|---|---|---|
| Hawaii County | +822 | +$235m | +$22,714 |
| Kauai County | −260 | +$16m | +$14,984 |
| Maui County | −1,292 | −$52m | +$8,595 |
| Honolulu County | −4,464 | −$206m | +$2,731 |
What CITIZEN sees
CITIZEN grades every US ZIP code on one national scale, reading price and its direction, rent, local earnings, resident equity and where buyers and their money are arriving from. Grades are ranks: an A is the top 10% of the country, an F the bottom 10%. In Hawaii, none of its 78 ZIP codes grades A and 8 grade F. Which ones, and why, is in CITIZEN.
Questions
Are home prices going up or down in Hawaii?
Up. Home values across Hawaii are up 2.8% over the past twelve months, to a typical $839K, and 52 of its 78 ZIP codes are higher than a year ago.
What is the typical home value in Hawaii?
$839,000 across Hawaii's 78 ZIP codes, as of August 2026. Among its metro areas, the typical home ranges from $552,200 in Hilo to $950,400 in Kapaa.
What is the cheapest place to buy a house in Hawaii?
Among Hawaii's metro areas with at least eight ZIP codes, Hilo has the lowest typical home value, $552,200. Among the larger half of its ZIP codes, 96778 in Pahoa is the cheapest, at $287,800.
Where are home prices rising fastest in Hawaii?
96819 in Honolulu (+6.0%), 96720 in Hilo (+5.3%) and 96816 in Honolulu (+5.2%), over the past twelve months, among the larger half of its ZIP codes.
What is the typical rent in Hawaii?
About $2,900 a month, across the 32 ZIP codes with rent data, up 5.3% over the past year.
Are people moving to Hawaii?
On balance, no. Between the 2022 and 2023 tax years, Hawaii lost 5,194 households on net from moves, summed across its counties.
Other states
Sources and method
- Source: CITIZEN, Lualdi Advisors' US housing market intelligence. Home values and rents through August 2026; household incomes 2020 to 2024; migration for tax years 2022 to 2023.
- State, metro and county figures are medians across their ZIP codes, not a separate index. The two-year chart is the median ZIP value for each month. Grades and scores are CITIZEN's own.
- ZIP code lists use the larger half of the state's ZIP codes by population.
- Updated monthly. Last updated 2026-10-14.
