$ PlainPropertyTax

Hawaii County, HI

Rent vs Own in Hawaii County, Hawaii

HUD prices a 2-bedroom in Hawaii County at $2,076/mo while the ownership stack lands near $2,899/mo. That mid-sized gap is large enough that rate or down-payment tweaks usually cannot close it alone. Owner-occupied homes: 54,795.

🏘️
Renting is cheaper in Hawaii County

A 2-bedroom rental here runs $2,076/mo, meaningfully below the $2,899/mo ownership stack on the default assumptions. That is a $823/mo difference.

Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.

What This Data Tells Us About Renting vs Owning in Hawaii County

Primary driver

The purchase price is the larger hurdle

Median household income is $78,639, so the 6.6x home-price-to-income ratio is the binding constraint here, even before the 1.9% of income that goes to property tax. Buyers in this band usually need a larger down payment or a longer commute to a cheaper ZIP before the monthly ownership math clears.

Decision signal 2

Buying compares well inside the state

Using the assumptions above, Hawaii County ranks 1 of 4 Hawaii counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It is the state's most buy-favorable county by this measure.

Decision signal 3

The tax rate is a national tailwind

Hawaii County's 0.28% effective rate is among the lowest of 3,135 tracked counties: roughly 99% pay a higher rate. That low tax line is one reason owning can compete here.

Decision signal 4

Renting wins by a mid-sized monthly gap

Hawaii County lists a $519,300 median home with $1,459/yr property tax (0.28%). HUD's $2,076/mo 2-bedroom rent undercuts the ~$2,899/mo ownership stack by a mid-range margin of about $823/mo. Closing that gap usually takes more than a cosmetic rate tweak, price, tax load, or both.

Decision signal 5

HUD moved the rent benchmark up

HUD raised its 2-bedroom Fair Market Rent for Hawaii County from $2,075/mo in FY2025 to $2,076/mo in FY2026: it increased by $1/mo (+0.0%). A rising rent benchmark widens the gap in favour of owning over time, because the mortgage share of the ownership cost below is fixed at origination while the rent it is compared against reprices every year.

Methodology & disclaimer

This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.

Monthly Cost Breakdown

Estimated Monthly Ownership
$2,899
Mortgage (P&I) $2,626
Property Tax $122
Insurance (est.) $151
Monthly Rent (2-BR FMR)
$2,076
Studio$1,592
1-Bedroom$1,603
2-Bedroom$2,076
3-Bedroom$2,622
4-Bedroom$3,024

Adjust Your Scenario

Affordability Context

Median Household Income
$78,639
$6,553/mo
Home Price / Income
6.6x
Expensive (>5x)
Tax-to-Income Ratio
1.9%
National benchmark: 2-4%

Who actually pays it here

In Hawaii County, once the mortgage ends staying put is close to free: the largest cluster of debt-free households faces a yearly charge under $800, so insurance and upkeep, not the tax office, set what the home costs to keep.

Hawaii County matches the national pattern: six-figure earners between $100,000 and $200,000 account for more of these write-offs than any other local group.

With ownership already mid-range more expensive than rent month-to-month, that annual bill reinforces why cash-flow renters stay put unless they are deliberately buying for tenure rather than monthly savings.

Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.

Nearby Counties

Honolulu County
Home: $897,500 Tax: $2,553/yr
Maui County
Home: $904,700 Tax: $1,466/yr
Kauai County
Home: $873,200 Tax: $1,866/yr
Kalawao County
Home: N/A Tax: N/A/yr

Frequently Asked Questions

Is it cheaper to rent or buy in Hawaii County, Hawaii? ▼
Renting the HUD 2-bedroom is the clearer monthly path in Hawaii County by roughly $823/mo under default loan assumptions. Closing a gap this size usually needs a meaningfully lower price or rate, not a cosmetic tweak.
How much house can you afford in Hawaii County? ▼
On the common 3x-income guideline, a $78,639 household here can afford up to $235,917 -- about $283,383 short of this county's $519,300 median home. That gap is typically closed with a larger down payment, dual incomes, or a longer search outside the median price band.
What is the median home price in Hawaii County? ▼
$519,300, per the Census Bureau's ACS 5-Year Estimates. What stands out more than the price itself is the tax load on it: this county's 0.28% effective rate sits near the low end of the 3,135 counties tracked here.
What is the average rent in Hawaii County? ▼
HUD prices a 2-bedroom unit at $2,076/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $1,432/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
How does Hawaii County compare to other Hawaii counties for renting vs buying? ▼
Out of 4 Hawaii counties ranked here on buy-vs-rent value, Hawaii County lands at spot 1, putting it in the more buy-favorable quarter of the state. The <a href="/states/hawaii">Hawaii state page</a> lists every peer county's tax bill beside this one.
Is rent going up or down in Hawaii County? ▼
HUD's 2-bedroom Fair Market Rent figure has risen 0.0% between the FY2025 and FY2026 publications, the two most recent years tracked here.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from the U.S. Census Bureau (American Community Survey). See our methodology for details. Retrieved and formatted by PlainPropertyTax

Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025

Verify with HUD →