Home Values in Honolulu, Hawaii — 2026 Market Report
Updated March 2026 | Seller's Market | +2.9% YoY
The median home value in Honolulu, Hawaii is $875,000 as of March 2026, which is above the national median of $400,000. Home values in Honolulu have increased by 2.9% over the past year and 15.4% over the last five years. With a population of 350,964 and a median household income of $80,620, the price-to-income ratio stands at 10.9x, making Honolulu affordable for the average household.
Honolulu Housing Market Conditions
| Metric | Honolulu | National Avg |
|---|---|---|
| Median Home Value | $875,000 | $400,000 |
| YoY Appreciation | +2.9% | +3.8% |
| 5-Year Appreciation | +15.4% | +22.4% |
| Price per Sq Ft | $711 | $222 |
| Days on Market | 52 days | 45 days |
| Months of Supply | 2.9 | 3.5 |
| List-to-Sale Ratio | 101% | 98.5% |
| Monthly Homes Sold | 177 | — |
| Foreclosure Rate | 0.34% | 0.3% |
Home Value Trends in Honolulu
A homeowner who purchased at the median price of $758,232 five years ago in Honolulu would have gained approximately $116,768 in equity, representing a 15.4% return on investment. Over the past year alone, the typical homeowner gained $24,660 in home equity.
Affordability in Honolulu, HI
With a median household income of $80,620 and a median home price of $875,000, the price-to-income ratio in Honolulu is 10.9x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $6,049 compared to estimated monthly ownership costs of $4,361 gives a rent-vs-buy ratio of 0.72. In Honolulu, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Honolulu
The effective property tax rate in Hawaii is 0.28%. On a home valued at $875,000, the estimated annual property tax bill is $2,450, or approximately $204/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Honolulu is 186.5 (100 = national average), indicating living costs are above the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Honolulu, HI?
The median home value in Honolulu, Hawaii is $875,000 as of March 2026. Home values have changed +2.9% over the past year, with a 5-year appreciation of 15.4%.
Is Honolulu a buyer's or seller's market?
Honolulu is currently a seller's market with 2.9 months of housing supply. Homes spend an average of 52 days on market, and the list-to-sale price ratio is 101%. Low inventory gives sellers an advantage.
Are home values going up in Honolulu?
Yes, home values in Honolulu have increased by 2.9% over the past year. The 5-year appreciation rate is 15.4%, meaning a home worth $758,232 five years ago is now worth $875,000.
Is it better to rent or buy in Honolulu?
The average monthly rent in Honolulu is $6,049, while estimated monthly homeownership costs are approximately $4,361. The price-to-rent ratio is 12.1. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Honolulu, Hawaii is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.