Honolulu vs Nearby Cities
Honolulu occupies the southwestern corner of Oahu island and offers slightly lower real estate prices than some surrounding cities. The median home value is often around $700,000, and the median home price is closer to $650,000 most of the time. Renters often pay a median rental price of $2,000 per month, and these prices are similar to nearby Pearl City. The more luxurious homes with higher price tags are found in Kailua and Kaneohe. The median home price in Kaneohe is around $850,000, but that price goes up to around $1 million in Kailua. Median rental prices in these cities are often closer to $2,500 per month.
Honolulu Property Managers
Property managers are responsible for the upkeep of rental units. They often oversee renovations and repairs while ensuring that all rental units are properly maintained. Outdoor landscaping and community living spaces are managed as well. This protects the owner’s investment and ensures that all landlord-tenant laws are upheld.
Honolulu Property Management Company Fees
Property managers in Honolulu tend to charge around 10 percent of the gross collected rental fees. They may also charge around 20 percent of the first month’s rent when they bring a new tenant in to fill a vacancy. Large renovation projects, marketing, accounting and other services may require additional fees.
Hawaii Landlord/Tenant Laws
- Landlords in Hawaii cannot charge more than the equivalent of one month’s rent when asking for a security deposit.
- Once a rental unit is vacated, the landlord has 14 days to return the tenant’s security deposit.
- Tenants have no limits on the amount that they can sue for when a landlord fails to return their security deposit.