Honolulu County’s decision tension is a high entry price against a moderate pre-cost income return: Zillow’s county median home value of $858,250 and median asking rent of $3,038 per month produce the supplied 4.25% gross yield. Investors able to verify building-level expenses should investigate; buyers relying on yield alone should be cautious. HUD’s two-bedroom Fair Market Rent is a payment standard, not an asking-rent estimate, so it is not used to calculate yield.
At Zillow’s county vintage, asking rent rose 5.22% year over year while home value rose 0.97%. That spread supports the current gross-income comparison, but it neither establishes operating margin nor proves continued rent growth. FHFA’s annual repeat-transaction HPI increased 1.40%; it confirms a positive price direction but is not a dollar home value and cannot be merged with Zillow’s different-vintage measure. The effective property-tax rate is 0.28%, with a median annual tax of $2,553; insurance, maintenance, and association charges are not published, preventing a net-yield conclusion.
Realtor.com’s MLS evidence shows 3,448 active listings and 12.99% of listings with price reductions—visible asking supply and seller concessions, not closed-sale prices or standalone proof of buyer demand. QCEW’s annual data show covered workplace employment and average weekly wage increased; they are neither resident employment nor unemployment measures. Trade, transportation, and utilities is the largest disclosed private supersector by employment, not the whole economy. Tax-return movers produced net migration of negative 2,232 households, although arriving movers averaged $2,731 more income than departing movers. Investor purchase mortgages were 693 of 6,027, or 11.5%, indicating nonoccupant participation but not cash-buyer activity or all purchase competition.
Inland flood is the dominant hazard, and modeled expected annual building-value loss is 0.31%; that model is not a parcel-level flood or insurance quote. Achieved rents, vacancy, lease concessions, sales comps, and transaction volume are not published, preventing a test of rent durability and price realization. Property insurance, flood-zone and elevation data, association obligations, and financing terms are not published, preventing site-level resilience, net-operating-income, and debt-service underwriting. These county-level indicators require asset and neighborhood verification.