Buy vs Rent in Honolulu, HI (2026)
Median home price $750K · 1BR rent $3,200/mo · Price-to-rent ratio 19.5x.
Median home price
$750K
1BR rent
$3,200/mo
Price-to-rent ratio
19.5x
Verdict
Neutral
Monthly cost of buying — 3 scenarios
30-year mortgage at 7% · Includes property tax, insurance, and maintenance estimates
| 3.5% down (FHA) | 10% down | 20% down (conventional) | |
|---|---|---|---|
| Down payment | $26,250 | $75,000 | $150,000 |
| Mortgage (P&I) | $4,815/mo | $4,491/mo | $3,992/mo |
| Property tax (est.) | $688/mo | $688/mo | $688/mo |
| Insurance (est.) | $313/mo | $313/mo | $313/mo |
| Maintenance (est.) | $625/mo | $625/mo | $625/mo |
| Total monthly cost | $6,441vs rent: +$3,241/mo | $6,117vs rent: +$2,917/mo | $5,618vs rent: +$2,418/mo |
| Income to qualify | $206,357/yr | $192,471/yr | $171,086/yr |
| Break-even (approx.) | ~1 yrs | ~2 yrs | ~5 yrs |
Honolulu housing context
$82K
Median HH income
per year
$171,086
Income needed (20% down)
per year
+$89K
Affordability gap
vs median income
Frequently asked questions
Is it better to buy or rent in Honolulu?
Honolulu's price-to-rent ratio of 19.5x is in the neutral zone (15-20x). Whether to buy or rent depends on how long you plan to stay, your down payment, and your personal finances.
How much do I need to earn to buy a home in Honolulu?
With a median home price of $750K in Honolulu, you'd need an annual income of roughly $171,086 to qualify with 20% down (at 7% rate, 28% housing ratio). With 10% down, you'd need about $192,471/year.
Honolulu full cost of living breakdownCheaper cities near HonoluluHow much to retire in HonoluluCompare mortgage rates
Mortgage at 7% 30-yr fixed · Property tax 1.1% est. · Maintenance 1% est. · Zillow, BLS · Q1 2026 · For general guidance only