Rent vs Buy Calculator — Honolulu, HI
Prefilled with Honolulu estimates: a ~$850,000 home (about $170,000 for 20% down) versus ~$2,500/mo rent. Hawaii's effective property tax of 0.29% — well below the U.S. average (~1.1%) — adds roughly $2,465/yr, and typical homeowners insurance runs about $1,300/yr. Adjust every field to your actual home below.
Is it better to rent or buy in Honolulu?
There's no universal answer — it hinges on how long you'll stay, what you'd earn investing the down payment instead, and Hawaii's tax and insurance costs. Property tax is the biggest local lever: at 0.29% on a $850,000 home that's about $2,465 every year, before insurance and maintenance. Use the break-even readout above to see the year buying pulls ahead, and the appreciation rate that flips the decision.
What makes Honolulu, HI different
- Median home price estimate: $850,000
- Typical monthly rent estimate: $2,500
- Hawaii effective property tax: 0.29% (~$2,465/yr here)
- Hawaii avg. homeowners insurance: $1,300/yr
Starting estimates as of 2026-01 — see the methodology & sources.