State rental market analysis · HI

Hawaii rental markets

15 tracked cities over 20,000 population, 1 ranked and summarized by their median Overall. Every number traces to Census, Zillow and BLS. All states ranked →

Browse every Hawaii ZIP Code area → · the full server-rendered index for this state.

Part of the Pacific Census division (West region).

31.2 median Overall
Middle range 31.2 to 31.2 (25th to 75th percentile of its cities)Median Cash Flow 26.7 · Growth 22.2 · Stability 55.5Ranked #50 of 51 states by median Overall scoredistribution across 1 ranked cities, not a distribution point estimate. As of 2026-07-10

The honest read

Hawaii ranks #50 of 51 states for rental investing, with a median Overall of 31.2/100 across its ranked cities, below the national median. 1 ranked cities roll up into this grade.

A state grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.

Where it ranks, factor by factor

Every value is the median across the 1 ranked cities in this state. The national rank compares all 51 states on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.

FactorCategoryState valueNational rank
Gross rent yieldCash Flow4.2%not measured
Rent growthGrowth4.1%not measured
Home value growthGrowth0.9%not measured
Population growthGrowth-0.2%not measured
Job growthGrowth0.0%not measured
Price-to-incomeCash Flow9.0×not measured
UnemploymentStability2.6%not measured
Rental demandStability51% renters · 646.6% vacancynot measured
Income growthGrowth4.6%not measured

Every city in Hawaii, ranked

Led by Urban Honolulu at 31/100. Click any column to re-sort; every city links to its full shown-math breakdown.

HI rankCityGradeCash FlowGrowthStabilityTypical home valueGross yieldNational rank
1Urban Honolulu31DDC$765,3674.2%#1624

Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2019–2023 · Census PEP July 2024 · BLS LAUS county 2023 annual. Generated 2026-09-01. Methodology & limitations · underwrite any specific deal with the free calculators.

Limited-data cities in Hawaii

These 14 cities lack enough measured factors to rank, so they are excluded from the state grade; their pages show exactly what could be measured.

East HonoluluHiloPearl CityWaipahuKailuaKaneoheMililani TownKahuluiEwa GentryKapoleiKiheiMililani MaukaKailuaMakakilo

ZIP markets in Hawaii

97 Census ZIP Codes (ZCTAs) in Hawaii · 63 data-eligible for subscores. These are sub-city government areas ranked separately from the Hawaii city table. The overall Rental Investor ZIP Score leaderboard leads; the two component subscores (affordability, rental-market context) follow as independent percentiles. ZIP ranks are shown within the ZIP universe only, never mixed with, and not directly comparable to, city ranks. Vintage: the Key metric column is Census ACS 2020–2024 (5-year), a newer release than the ACS 2019–2023 figures the city table above uses; the same measure can legitimately disagree between the two.

Best overall ZIP Codes in Hawaii

Ranked by the overall Rental Investor ZIP Score. The # is each ZIP Code's canonical HI state rank; the smaller figure is its national rank. Separate from the Hawaii city table and not directly comparable to it.

HI rankZIP CodeOverallgrade · nationalKey metric
#196720HiloB 64#2,089 nat3.5%Survey yield
#296749Hawaiian Paradise ParkB 63#2,382 nat3.5%Survey yield
#396740KaiminaniB 61#3,190 nat2.6%Survey yield
#496778Hawaiian BeachesB 59#4,054 nat5.7%Survey yield
#596771Mountain ViewB 57#4,745 nat4.6%Survey yield
#696743WaimeaB 55#5,897 nat3.0%Survey yield
#796755KapaauC 53#6,893 nat2.9%Survey yield
#896766LihueC 53#7,037 nat2.9%Survey yield
#996738Waikoloa VillageC 52#7,490 nat3.2%Survey yield
#1096785VolcanoC 51#7,780 nat4.0%Survey yield
#1196781PapaikouC 51#7,996 nat2.2%Survey yield
#1296704Honaunau-NapoopooC 50#8,275 nat3.7%Survey yield

Top affordability ZIP Codes in Hawaii

State-scoped leaders on the affordability subscore only (national rank shown is within that subscore’s data-eligible universe). Substantially an inverse housing-cost signal: a component of the overall score, not a predicted return.

#ZIP CodeAffordabilityKey metric
196776Paauilo79#1,413 nat6.0%Survey yield
296818Hickam Housing79#1,435 nat5.7%Survey yield
396778Hawaiian Beaches79#1,473 nat5.7%Survey yield
496772Discovery Harbour69#3,179 nat4.8%Survey yield
596771Mountain View67#3,573 nat4.6%Survey yield
696757Kualapuu65#4,185 nat4.4%Survey yield
796719Hawi63#4,747 nat4.2%Survey yield
896786Wheeler AFB62#4,997 nat4.1%Survey yield
996752Kekaha62#5,097 nat4.1%Survey yield
1096706East Kapolei61#5,390 nat4.0%Survey yield
1196785Volcano60#5,550 nat4.0%Survey yield
1296826Urban Honolulu58#6,163 nat3.8%Survey yield

Deepest rental-market ZIP Codes in Hawaii

State-scoped leaders on the rental-market-context subscore only (national rank shown is within that subscore’s data-eligible universe). Rental depth/tightness: a separate component, never combined here with affordability.

#ZIP CodeRental marketKey metric
196762Laie83#70 nat3.0%Survey yield
296712Pupukea79#347 nat1.7%Survey yield
396786Wheeler AFB79#361 nat4.1%Survey yield
496822Urban Honolulu77#648 nat2.1%Survey yield
596756Poipu75#841 nat2.0%Survey yield
696731Kahuku75#945 nat1.9%Survey yield
796819Urban Honolulu74#1,143 nat2.4%Survey yield
896768Olinda73#1,284 nat2.3%Survey yield
996730Kaaawa73#1,308 nat2.7%Survey yield
1096816Urban Honolulu73#1,394 nat2.0%Survey yield
1196752Kekaha72#1,468 nat4.1%Survey yield
1296826Urban Honolulu71#1,655 nat3.8%Survey yield
Open the full Hawaii ZIP explorer (all 97 areas, sortable) →