Makawao, HI—96768
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Makawao, HI
As of Oct '25, the median home price in Makawao, HI is $1,109,000, with a year-over-year change of -1.7%. This indicates that home prices in Makawao, HI are decreasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,109,000 | -1.7% |
| Single Family | $1,116,000 | -2.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $1,002,000 | 0.1% |
2 Bed | $988,000 | -1.5% |
3 Bed | $1,064,000 | -2.7% |
4 Bed | $1,320,000 | -0.6% |
| 5 Bed | $1,415,000 | -0.1% |
% of Housing Stock
Rental Trends — Makawao, HI
As of July '25, Rentcast reports the average rent in Makawao, HI is $3,580, with a year-over-year rent change of -10.1%. Per bedroom, the median rent as of July '25 in Makawao, HI is studios: $1,320, 1-bedrooms: $2,800, 2-bedrooms: $3,030, 3-bedrooms: $4,650, 4-bedrooms: $4,850. The most common rental property sizes in Makawao, HI are 3-bedroom and 2-bedroom, accounting for 39.4% and 36.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $3,050 | $3,580 |
| Studio Rent | $950 | $1,320 |
| 1 Bed Rent | $2,600 | $2,800 |
| 2 Bed Rent | $2,850 | $3,030 |
| 3 Bed Rent | $3,600 | $4,650 |
| 4 Bed Rent | $4,200 | $4,850 |
% of Rental Stock
Property Listings — Makawao, HI
As of Oct '25, Realtor.com reports that the median days on market for a home in Makawao, HI is 102. This is a increase of 33.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,400,000 | 1.0% |
Listing Count | 40 | 3.0% |
| Listings as % of Homes | 0.7% | 3.0% |
Days on Market | 102 | 33.0% |
Demographics — Makawao, HI
As of the latest ACS Survey released in 2023, Makawao, HI has a population of 18,800, which has increased by 3.5% over the past 5 years. Makawao, HI is a moderately popular place for families, as children make up 20.3% of the population. The area has a moderately educated workforce, with 33.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,800 | 3.5% |
% Under 18 | 20.3% | 5.7% |
% Seniors | 21.0% | 27.3% |
% WFH | 11.4% | 70.1% |
% w/ College Degree | 33.2% | 18.6% |
As of the latest ACS Survey released in 2023, Makawao, HI is a predominantly white area, with 30.6% of the population identifying as white. The white population has shrunk by 12.1% in the last 5 years. The second most common race or ethnicity in Makawao, HI is asian, making up 19.9% of the population. Foreign-born residents account for 8.7% of the population in Makawao, HI, and this percentage has decreased by 10.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 30.6% | -12.1% |
% Black | 0.8% | 700.0% |
% Hispanic | 14.2% | 21.4% |
% Asian | 19.9% | -19.1% |
% Foreign Born | 8.7% | -10.3% |
Mortgage and Risk — Makawao, HI
According to HUD data as of 2023, there were 157 mortgage originations in Makawao, HI, of which 92.0% of loans were conventional mortgages. The average loan-to-value was 40.0%, with 6.0% above 90% LTV (normal). This implies small mortgage risk in Makawao, HI. Investor activity is low, as 3.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 157 |
% Conventional Loans | 92.0% |
% Government Loans | 8.0% |
% Investor Loans | 3.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Makawao, HI
As of 2024, the percent of homes in Makawao, HI under the Section 8 program is 9.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Makawao, HI, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 273 |
Total Units Section 8 | 238 |
% Rentals under Section 8 | 9.5% |
% Occupied Section 8 | 99.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$870 | $2,600 | $1,730 |
| 2 Bedroom | -$580 | $2,850 | $2,270 |
| 3 Bedroom | -$550 | $3,600 | $3,050 |
| 4 Bedroom | -$680 | $4,200 | $3,520 |
Affordability — Makawao, HI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 9.8 |
| Median Home Price | $1,109,000 |
| Median Household Income | $106,000 |