Rental market data for Q2 2015 for the City and County of Honolulu shows that the residential rental market continues to remain strong. While vacancy rates were up 25% from 6% in Q2 2014 to 7.5% in Q2 2015, average days on the market were also down by 26% from 79 days to 58. The average cap rate was up slightly from 5.08% to 5.35% a 5% increase, and property appreciation continued to climb 2% from 5.35% to 5.47%.
The following table summarizes the change from Q2 2014 to Q2 2015:
| Q2 2015 | Q2 2014 | Change: | |
| Vacancy Rate: | 7.5% | 6% | Up 25% |
| Cap Rate: | 5.35% | 5.08% | Up 5% |
| Property Appreciation: | 5.47% | 5.35% | Up 2% |
| Days on Market: | 58 | 79 | Down |
Real estate investors and property owners wanting renting out their properties should contact Real Property Management Alliance’s team of experts at (808) 445-9500.