Average Rent in Waikiki, Urban Honolulu, HI

Current Versus Historical Waikiki, Urban Honolulu, HI Rents

Waikiki rentals average $1,850 for a studio rental to $0 for a 3-bedroom rental. The median price of all currently available listings is $2,548, or roughly $4 per square feet.

For the apartment units and housing in May 2024, median rents have risen over the last year. Studio rentals prices have increased by $59 (3.72%) year-over-year from $1,591 to $1,650. 1-bedroom rentals prices have increased by $133 (5.88%) year-over-year from $2,267 to $2,400. 2-bedroom rentals prices have increased by $1,060 (33.76%) year-over-year from $3,140 to $4,200. 3-bedroom rentals prices have increased by $2,386 (42.50%) year-over-year from $5,614 to $8,000. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 2.94% this month. 1-bedroom rents have gone up by 2.86% this month. 2-bedroom rents have gone up by 23.53% this month. 3-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$5.08	$1,650	$1,591 (3.72%)	$1,421 (16.09%)
1 BR	$4.38	$2,400	$2,267 (5.88%)	$1,929 (24.44%)
2 BR	$3.44	$4,200	$3,140 (33.76%)	$2,433 (72.60%)

Historical Rents in Waikiki, Urban Honolulu, HI

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Waikiki

There are a total of 3 cities nearby Waikiki. The average rent in Waikiki is currently $4,500 per month. Our records show that Urban Honolulu, HI, with an average rent of $2,600, is the most affordable city nearby. In contrast, the most expensive city near Waikiki, Urban Honolulu, HI is East Honolulu, HI. Monthly rents here are on average $5,175 per month.

Let's compare Waikiki, Urban Honolulu, HI's rent against other top cities nearby by bedroom size. Typically, rent for studios in Waikiki, Urban Honolulu, HI is 16.22% more expensive than other cities nearby. One bedrooms are about 8.00% more expensive. Two bedrooms in Waikiki, Urban Honolulu, HI are about 7.25% more expensive. Finally, rent for three bedrooms are about inf% more affordable. Want more information? Check out the top 3 cities near Waikiki, Urban Honolulu, HI in the following chart.

City	Studio	1 Bed	2 Bed	All
Urban Honolulu, HI	$1,700	$2,300	$3,200	$2,600
Kailua, HI	N/A	$2,300	$2,795	$4,500
East Honolulu, HI	$1,550	$2,450	$4,500	$5,175

Top Neighborhoods Near Waikiki

There are a total of 4 neighborhoods in or near Waikiki. Some of these neighborhoods include Makakilo - Kapolei - Honokai Hale, Ewa, and Ala Moana - Kakaako. We've included all of these top 4 neighborhoods in or near Waikiki, Urban Honolulu, HI in the following chart.

The average rent for these 4 neighborhoods in or near Waikiki, Urban Honolulu, HI is currently around $3,650 per month. Meaning, only four neighborhoods have a higher average rent than $3,650. Interestingly, the neighborhoods' average rent is higher than Waikiki's average rent, which is only $2,548. Out of all the neighborhoods in or near Waikiki, Makakilo - Kapolei - Honokai Hale has the most affordable average rent at $3,475 per month. Whereas, at $4,500 average rent per month, Kailua is the most expensive neighborhood in or near Waikiki. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Makakilo - Kapolei - Honokai Hale, Makakilo, HI	N/A	N/A	$3,000	$3,475
Ewa, Honolulu County, HI	$2,300	$2,150	$2,400	$3,500
Ala Moana - Kakaako, Urban Honolulu, HI	$2,550	$3,300	$4,750	$3,800
Kailua, Honolulu County, HI	N/A	$2,300	$2,795	$4,500

Top Counties Near Waikiki

There are a total of 4 counties located by Waikiki, Urban Honolulu, HI. The average rent for rentals in these counties is $2,800. That's roughly around $3 per sqft. The county that is the most affordable is Honolulu, HI. It's average rent per month is $2,800. Vice versa, with an average rent of $2,800, Honolulu, HI is the most expensive county by Waikiki, Urban Honolulu, HI.

Typically, rent for studios in Waikiki, Urban Honolulu, HI is 8.11% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Waikiki, Urban Honolulu, HI is 12.00% more expensive than other counties nearby. Finally, rent for two bedrooms in Waikiki, Urban Honolulu, HI is 18.84% more expensive than other counties nearby. We've listed the top 1 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Honolulu, HI	$1,700	$2,200	$2,800	$2,800

Top Zipcodes Near Waikiki

There are a total of 5 zipcodes in or near Waikiki, Urban Honolulu, HI. The average rent for all of these zipcodes is $3,500.

The following chart includes the top 5 zipcodes in Waikiki, Urban Honolulu, HI. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
96815, Urban Honolulu, HI	$1,850	$2,500	$3,500	$2,650
96814, Urban Honolulu, HI	$2,550	$3,500	$4,775	$3,950
96734, Honolulu County, HI	N/A	$2,300	$2,795	$4,500
96706, Ewa Gentry, HI	$2,300	$2,150	$2,400	$3,500
96707, Honolulu County, HI	N/A	N/A	$3,000	$3,475

Frequently Asked Questions - Waikiki Average Rents

What is the average rent price in Waikiki, Urban Honolulu, HI?

The average monthly rental price for Waikiki, Urban Honolulu, HI apartments for rent is approximately $2,548. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Waikiki, Urban Honolulu, HI rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Waikiki, Urban Honolulu, HI.

How much is a studio apartment in Waikiki, Urban Honolulu, HI?

The average monthly rental price for studio apartments is $1,850 and an average price per square feet of $5.08. There are a total of 30 studio apartment listings currently available for rent in Waikiki.

How much is a one bedroom apartment in Waikiki, Urban Honolulu, HI?

The average monthly rental price for one bedroom apartments is $2,500 and an average price per square feet of $4.38. There are a total of 57 one bedroom apartment listings currently available for rent in Waikiki.

How much is a two bedroom apartment in Waikiki, Urban Honolulu, HI?

The average monthly rental price for two bedroom apartments is $3,450 and an average price per square feet of $3.44. There are a total of 34 two bedroom apartment listings currently available for rent in Waikiki.

How have rent prices in Waikiki, Urban Honolulu, HI changed this year?

Rent prices for rentals in Waikiki, Urban Honolulu, HI can fluctuate yearly. Specifically, studio rental prices have changed by 0.04%, one bedroom rental prices have changed by 0.06%, two bedroom rental prices have changed by 0.34%, and three bedroom rental prices have changed by 0.42% year-over-year.

What is a reasonable rent price in Waikiki, Urban Honolulu, HI?

A reasonable rent price in Waikiki, Urban Honolulu, HI is around $2,038/month. You can search for these reasonably priced rental listings on RentHop.