It wasn't that long ago I stated rent has been going up 10%/year in Honolulu - and of course it was met with either disbelief, just not being correct, and all sort of snarky comments. It can't possibly being be going up that much.
Well - I was wrong. Honolulu rent is up
14% in the past year, the story is making the TV rounds this morning.
"Honolulu's rent prices are going up faster than anywhere in the country."
"It's really not paradise because I'm killing myself just to live here."
"Burgess' company, Real Property Management Alliance, shows a 3 bedroom home rental in Honolulu is now nearly $2,675 per month. That's about $700 a month more than California and twice as much as the national average. That's more than a 14-percent increase from last year...a trend far ahead of anywhere else."
"Burgess doesn't see the demand slowing down. "Not in the near term, not in the near term...that's for sure. I think we are expecting this trend to continue."
"Burgess says in addition to rents near town being high Kailua, Ewa Beach and Mililani are seeing a sharp increase as well. Due to new construction, rents for now are holding steady in Kakaako and Kapolei."
Honolulu home rents go through the roof - Hawaii News Now - KGMB and KHNL
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
