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Makawao, HI—96768

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$1,121,000
2.7% YoY Growth
Household Income
$106,000
31.7% YoY Growth
Days on Market
119
85.0% Longer YoY
Home Price Forecast
-0.1%
Median Rent
$3,050
10.1% YoY Growth
1-Bed Rent
$2,600
9.8% YoY Growth
2-Bed Rent
$2,850
6.7% YoY Growth
3-Bed Rent
$3,600
5.0% YoY Growth
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Makawao, HI

As of May '26, the median home price in Makawao, HI is $1,121,000, with a year-over-year change of -2.7%. This indicates that home prices in Makawao, HI are decreasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$1,121,000-2.7%
Single Family $1,129,000-2.5%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $1,013,000
    -3.2%
    2 Bed
    		$1,003,000-3.3%
    3 Bed
    		$1,072,000-2.6%
    4 Bed
    		$1,350,000-1.0%
    5 Bed $1,450,3530.5%
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    % of Housing Stock

    Studio
    1.3%
    1 Bedroom
    9.2%
    2 Bedrooms
    25.0%
    3 Bedrooms
    43.0%
    4 Bedrooms
    14.3%
    5+ Bedrooms
    7.1%

    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.

    TypeMedian RentAverage 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
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    % of Rental Stock

    Studio
    2.8%
    1 Bedroom
    16.6%
    2 Bedrooms
    36.9%
    3 Bedrooms
    39.4%
    4 Bedrooms
    3.4%
    5+ Bedrooms
    0.9%

    Property Listings — Makawao, HI

    As of May '26, Realtor.com reports that the median days on market for a home in Makawao, HI is 119. This is a increase of 85.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$1,300,000-6.0%
    Listing Count
    		427.0%
    Listings as % of Homes0.7%7.0%
    Days on Market
    		11985.0%
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    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.

    MetricLatest CensusYoY % Change
    Population
    		18,8003.5%
    % Under 18
    		20.3%5.7%
    % Seniors
    		21.0%27.3%
    % WFH
    		11.4%70.1%
    % w/ College Degree
    		33.2%18.6%
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    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

    MetricLatest Census5-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%
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    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

    MetricZip 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%
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    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 SizeHUD PremiumMarket RentMax 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

    MetricZip Code Average
    Home Price to Income Ratio10
    Median Home Price$1,121,000
    Median Household Income$106,000

    Makawao, HI — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    96708

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    Frequently Asked Questions