Rent vs buy in Honolulu, HI
In Honolulu, Hawaii, the typical rent is $2,715 /mo and the typical home costs $774,710.
Renting comes out $95k ahead over 7 years
Today's mortgage rate is used with Honolulu's typical rent and home value and 20% down. Year 19 is when the costs balance.
Estimates, not quotes, with the math shown and clearly marked as opinion. The stamp changes whenever a number changes.
- Renting is ahead by
- $95k after 7 years
- Break-even point
- year 19 when owning catches up
- Actual cost of owning
- $6,215 /mo year 1, against $2,715 rent
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The stamp takes Honolulu's typical rent and home value as its inputs. The result may flip based on your rent, your price and your years.
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Is it cheaper to rent or buy in Honolulu?
Over 7 years, renting costs $94,756 less when you include the money returned after you sell. For the first 18 years, renting costs less. In year 19, owning catches up.
Renting. Owning. Net cost by year so far.
Honolulu: average rent compared with mortgage payment
Rent and mortgage payments don't tell the whole story. At Honolulu's typical price, these are all the monthly costs for year 1.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,715 | All of it, every month |
| Mortgage payment | $4,224 | $3,723 of it is interest in year 1 |
| Property tax | $187 | 0.29% of the value a year |
| Insurance | $77 | Census median for the city |
| Upkeep | $646 | 1% of the value a year |
| Owning, cash out | $5,134 | $501 of it builds equity |
| Lost return on the down payment | $1,259 | Annual earnings the cash would receive at 8.3% |
| Buying costs, spread out | $323 | 3.5% of the price over 7 years |
| True cost of owning | $6,215 | Cash out, subtract the equity portion, then add the two lines listed above. |
Honolulu's verdict explained through its numbers
- Typical home valueZillow ZHVI, September 2026
- $774,710
- Typical rentZillow ZORI, September 2026
- $2,715 /mo
- Down payment20% avoids private mortgage insurance, which the engine does not model
- 20%
- Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Home price growthFHFA house price index, Hawaii, 1995 to 2025
- 4.3% a year
- Rent growthCPI rent of primary residence, yearly growth 2006 to 2026
- 3.5% a year
- Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025
- 8.3% a year
- Property taxCensus ACS 2020-2024, Honolulu
- 0.29% of value
- Home insuranceCensus ACS 2020-2024, Honolulu
- $77 /mo
- MaintenanceFannie Mae, low end of 1% to 4%
- 1% of value a year
- Buying costsFreddie Mac, middle of 2% to 5%
- 3.5% of price
- Selling costsAgent commission plus closing costs
- 6% of price
What would make the Honolulu verdict flip?
Each line shows where Honolulu's 7-year result changes, with all other factors staying the same.
Renting comes out ahead when
- Home prices grow by under 5.7% a year; the figure we use is 4.3%, Hawaii's long-run rate.
- Here, the mortgage rate remains above 5.06%.
- A similar home rents for under $3,730 a month (the local typical rent is $2,715).
- Before year 19 comes, you move.
When buying wins
- Home prices grow by more than 5.7% a year.
- Your mortgage rate locks in under 5.06% (right now it's 7.24%).
- You'd pay more than $3,730 each month to rent the same home.
- You stay for 19 years, or longer.
How Honolulu compares with the other 812 cities
| Measure | Honolulu | Median city |
|---|---|---|
| Typical home value | $774,710 | $422,451 |
| Typical rent | $2,715 /mo | $1,837 /mo |
| Price-to-rent ratio | 23.8 (#176 of 813) | 18.5 |
| Home prices, last 10 years | 2.3% a year | 6.2% a year |
| Rents, last 5 years | 4.1% a year | 4% a year |
| Property tax | 0.29% | 0.87% |
| Households that rent | 51% | 42% |
Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.