HONOLULU (KHON2) – Hawaii renters are paying 191% more for a two-bedroom this year compared to last according to a new study by Rent.
That’s not all, the average rent in Honolulu for a studio is $2,705 which is 158% up this year compared to last.
Renting for so many Hawaii residents has become unattainable by forcing people to either not save money, live with family and friends or work two or more jobs.
The average one-bedroom apartment in Honolulu is 3,085 which is 29% up this year compared to last.
Two bedrooms in Honolulu go for $4,940 which is 191% up this year compared to last and finally a three-bedroom rental averaging $5,970 which is 117% higher than last year.
The most affordable neighborhoods in Honolulu are Kuakini, where the average one-bedroom apartment rent goes for $1,000. Nuuanu – Punchbowl is also affordable where renters pay $1,200 for a one-bedroom.
Many people who work in Honolulu do not live in Honolulu and would rather find something further out and commute in every day. However, if you want to stay in or near Honolulu check out Hickam, which has an average rental price of around $1,200.
Ala Moana – Kakaako and Palama have one-bedrooms going for $1,295 which is vastly cheaper than the average Honolulu apartment going for $3,085.
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To view the full study and see more rentals in and around Honolulu head to Rent.