Oahu, HI Houses and Single Family Homes For Rent | realtor.com® (2024)

FAQs

What is the average cost of a single family home on Oahu? ›

The median listing home price in Oahu, HI was $740K in July 2024, trending down -4.5% year-over-year. The median listing home price per square foot was $654. The median home sold price was $929.8K.

67,880 or 49% of the households in Honolulu, HI are renter-occupied while 70,859 or 51% are owner-occupied.

Oʻahu Vacation Rentals

Apartments, condominiums and homes are eligible to operate as short-term rentals if they are located in areas zoned for such use and/or they have obtained the required authorization(s) from the State of Hawaiʻi and/or the relevant County.

Waianae is the cheapest place to live in Oahu. This small town is located on the island's eastern coast and is home to an abundance of outdoor activities and authentic local cuisine. Local attractions here include the Waianae Mountain Range, Kahumana Organic Farms & Cafe, and Pokai Bay Beach Park.

Hawaii's property values are high because of the state's shortage of housing. Fewer homes in the face of strong demand means Hawaii has the nation's highest median home prices — and also some of the highest rental rates for renters. Why does Hawaii have a housing shortage?

Hawaiʻi's housing crisis has reached a state of emergency, with fewer and fewer families able to afford to buy or rent a home in the state.

Blackstone Group is by far the biggest buyer of single family houses with an estimated $2.5 billion totaling up to 16,000 single-family houses and they are currently in Atlanta GA, Chicago IL, Las Vegas NV, Phoenix AZ, and Inland Empire, LA, Sacremento Valley, Bay Area, Central Valley California, Miami Orlando and ...

How many houses do most landlords own? ›

On average, landlords have three properties to their name. Of those who own the units, it's about a 50/50 split when it comes to just being the owner and handing management over to someone else, or owning while also managing the properties.

Not necessarily. GOBankingRates spoke to one self-made millionaire who chose to keep renting despite having more than enough money to buy their own home. It's part of a larger strategy to build generational wealth through real estate while lowering his housing costs.

Some of the best places for families to live on Oahu include Kailua, Mililani, Hawaii Kai, and Kapolei. These neighborhoods offer good schools, safe environments, and family-friendly amenities. One of the more affordable areas on Oahu is Waianae, located on the western side of the island.

According to a study by Payscale.com, the cost of living in Honolulu, Hawaii is 88% higher than the national average with housing clocking in at 202% higher than the national average.

Typically, households qualify for AH rental units if they earn no more than 80 percent of the area median income (AMI) for Oahu, and qualify for AH for-sale units if they earn no more than 120 percent of the AMI.

As of Q1 of 2022, the median home price in the United States was $428,700. In Hawaii, the median home price was $1.04 million. In Honolulu county, the average single-family home price was $1.15 million for a single-family house and $515,500 for a condo.

Generally speaking, though, retirement in Hawaii with $3,000 per month would be a tight squeeze for one person. According to MIT's Living Wage Calculator, an individual without children would need to make at least $55,000 before taxes each year (or at least $4,500 per month) to maintain the standard of living.