Median gross rent
$1,942
ACS B25064
All states
ACS 202437.6× · Rent leans ahead
ACS 202437.6× · Rent leans aheadHawaii Rent vs Buy (2026)
Median rent $1,942/mo vs modeled ownership $5,564/mo. Monthly gap $3,622; price-to-rent rank #1 of 51.
By Sammy S. · Founder · AuthorUpdated for 2026
Hawaii rent vs buy snapshot
In Hawaii, ACS 2024 median gross rent is about $1,942/mo (rank #2 of 51) against a $875,900 median owner-occupied home value. The statewide price-to-rent ratio is 37.6× (#1 nationally, where #1 is highest). Modeled ownership runs about $3,622/mo above median rent before equity. Rent leans ahead on these medians, and the modeled buy path does not overtake renting within 30 years under stated appreciation, rent-growth, and opportunity-return assumptions. Confirm metro listings, HOA dues, insurance quotes, and how long you will stay before deciding.
Median home value
$875,900
ACS 2024
Price-to-rent
37.6×
#1 nationally
Monthly gap
$3,622
30+ yrs (model)
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Price-to-rent ratios, median rent, modeled ownership, and break-even context.
Breakdown
Rent vs buy on Hawaii medians
Renting
- Median gross rent
- $1,942/mo
- Annual rent
- $23,304/yr
- National rent rank
- #2 of 51
ACS gross rent includes contract rent plus estimated renter-paid utilities. Deposits, renter insurance, parking, and metro premiums above the Hawaii median are not included.
Buying (model)
- Principal & interest
- $4,503/mo
- Property tax
- $212/mo
- Insurance
- $119/mo
- Maintenance (1%/yr)
- $730/mo
- Modeled ownership
- $5,564/mo
- Annual ownership
- $66,766/yr
- Property tax rate
- 0.29%
- HO-3 insurance avg.
- $1,431/yr
6.66% 30-year fixed, 20% down on the median home (2026-07-30 Freddie Mac PMMS). HOA defaults to $0; utilities are not in PITI.
Hawaii break-even and stay-length context
Modeled break-even is 30+ yrs (model) — buying does not overtake renting within 30 years under 3% appreciation, 3% rent growth, and a 5% opportunity return on cash-to-close. Selling costs and itemized tax deductions are outside this illustration. Plans under ~5 years often still favor renting unless the monthly gap is strongly negative.
Monthly gap (own − rent)
$3,622/mo
Cash-to-close (illustrative)
$205,837
Gap rank
#1 of 51
Break-even rank
#33 of 51
Who this Hawaii rent vs buy page helps
Renters considering a first purchase
Compare Hawaii median rent to a current-buyer ownership estimate—not what longtime owners report paying on older mortgages.
People relocating into or out of the state
Use the price-to-rent rank and monthly gap alongside salary and tax tools before locking a lease or offer in Hawaii.
Households weighing a short stay
If you may move within a few years, prioritize cash-to-close recovery and selling costs over the long-run equity path.
Hawaii rent vs buy checklist
- 1Compare local Hawaii rent comps for your unit type—not only the statewide ACS median.
- 2Get written insurance and post-sale property-tax estimates for finalist addresses.
- 3Stress-test ownership with HOA, utilities, PMI (if under 20% down), and a maintenance reserve.
- 4Estimate after-tax pay in-state and compare housing to net income.
- 5If you may move within five years, model agent fees and closing costs on exit.
- 6Cross-check ACS observed owner costs on the Hawaii homeownership-cost profile.
How to read these Hawaii figures
Medians are not your lease
Studio, suburban, and luxury rents in Hawaii can diverge sharply from the statewide ACS median gross rent.
Insurance can dominate
Hawaii's HO-3 average ($1,431/yr) is a starting point; catastrophe risk can exceed the statewide mean.
Taxes change after purchase
Reassessment and local levies can push Hawaii property tax above the 0.29% effective statewide benchmark.
Important limitations for Hawaii
- Statewide ACS medians are not city or neighborhood list prices.
- The buy side is a new-purchase illustration at today's mortgage rate—not ACS selected monthly owner costs for existing owners.
- Federal mortgage-interest and property-tax deductions are not modeled; after-tax results depend on filing status.
- HOA, flood, earthquake, and PMI can change the monthly gap materially.
- Verdict (rent leans ahead) is an educational screen for 2026—confirm local comps before deciding.
Similar price-to-rent states
Related Hawaii housing and tax tools
Hawaii rent vs buy FAQs
Rent leans ahead on this statewide model. Buying the median home costs about $3,622/mo more than median rent before equity. Price-to-rent is 37.6×, and the modeled buy path does not overtake renting within 30 years under stated assumptions. Confirm local prices, HOA dues, and how long you will stay.
ACS 2024 median gross rent is about $1,942/mo (rank #2 of 51), including estimated utilities.
About $5,564/mo including principal and interest at 6.66%, property tax, insurance, and a 1% maintenance reserve on the $875,900 median value.
About 37.6× (rank #1 by ratio, where #1 is highest). Higher ratios often lean toward renting on this metric alone.
Under the stated 3% appreciation, 3% rent growth, and 5% opportunity-return assumptions, buying does not overtake renting within 30 years in this model.
With 20% down, the down payment is about $175,180. Adding a 3.5% closing-cost illustration brings cash-to-close near $205,837 before moving and reserves.
Yes — ACS gross rent includes contract rent plus estimated average utilities and fuels when paid by the renter.
Ownership exceeds rent by about $3,622/mo before equity (rank #1 by buy premium, where #1 is the largest ownership premium). Equity and appreciation can still favor buying over a longer stay.
About 0.29% effective owner-occupied property tax from the Tax Foundation series used across this site's housing tools.
About $1,431/year using the NAIC/III average HO-3 premium series shared with the homeownership-cost pages.
No. Every state uses the same Freddie Mac PMMS 6.66% 30-year fixed assumption (as of 2026-07-30) so rankings isolate prices, rents, taxes, and insurance.
No — HOA defaults to $0. Condo and planned-community dues can change the monthly gap materially.
Property tax is in the ownership estimate. State income tax on wages and any capital-gains treatment of a future sale are outside this housing cash-flow model.
No. ACS describes what current owners report. This page models a new buyer at today's rate on the median home value.
Short stays usually favor renting because cash-to-close, selling costs, and early principal paydown take time to recover — even when the long-run model eventually breaks even.
Housing math is only one factor. Wages, taxes, insurance risk, commute, and how long you will stay can erase a statewide rent-vs-buy edge.
Hawaii ranks #2 of 51 on ACS median gross rent at $1,942/mo.
Open the Hawaii homeownership cost profile for ACS owner costs and buyer estimates, property tax by state for rates, and cost of living by state for broader COL context.
Yes — use the pair picker on this page or open a compare URL such as Hawaii vs Texas (or another priority pair involving Hawaii).
Last reviewed 2026-07-30, using ACS 2024 rent and home-value medians with the dated Freddie Mac PMMS mortgage-rate assumption.
By Sammy S. · Founder · AuthorUpdated for 2026
Educational planning aid for Hawaii statewide medians—not a mortgage, insurance, or tax advice.