Honolulu, HI: Crossroads of the Pacific
With 343,302 residents, Honolulu is the most populous city in Hawaii. It also acts as the state capital and as the seat of Honolulu County. Honolulu is known for its diverse cuisine and traditions, characterized by its equally diverse population.
Nicknamed “Crossroads of the Pacific,” Honolulu serves as the main gateway between Hawaii and the rest of the world. Another apt nickname for this city is “Paradise,” as its excellent climate, beautiful natural landscape, and gorgeous beaches make it a popular tourist destination. These things are also enjoyed by Honolulu’s residents, in addition to the city’s low crime rate — even being dubbed the country’s second safest city.
Aside from its natural beauty and pristine beaches, Honolulu’s arts and culture scene also draws in visitors from all over. Notable attractions include the Bishop Museum, the Honolulu Zoo, the Waikiki Aquarium, the Foster Botanical Garden, the Hawai’i Theatre, the Diamond Head Theatre, and the Honolulu Museum of Art.
The State of Honolulu’s Rental Market
Honolulu is an amazing city for both residents and tourists. With so many people wanting to live or vacation here, it makes sense for the city to have an expensive real estate market. The median listing price for a home in Honolulu is $695,800, a whopping 205% above the national median. With such expensive homes and millions of vacationers, the city also understandably has a high renter population. In fact, 43.8% of the city’s residents are renters.
Image via towncharts.com
While home prices are on the costlier end of the spectrum, property investors can also expect great returns in Honolulu. The average rent here is $1,943, which is almost twice the national average. This also represents a 12% year-over-year change. Additionally, only 5% of the apartments in this city have rental rates between $701 and $1,000. The rest are above $1,001, with a large chunk (48%) commanding rent above $2,000.
Image via rentcafe.com
How a Honolulu Property Management Company Can Help
There are many rental properties in Honolulu, whether they come in the form of single-family homes, townhomes, condos, or apartments. As such, the demand for property managers here is quite high. Landlords typically don’t have time to manage their own rental properties or simply lack the expertise required for it. Others live too far from their rentals or just dislike managing them.
This is where a Honolulu rental management company can help. With professional assistance, rental property owners won’t need to carry the burden of their landlord duties anymore. They can pass on most of the work to a property manager and basically leave it on auto-pilot while simultaneously earning rental income. Below are just some of the services property management companies offer:
- Rental property advertising
- Tenant screening
- Property showings
- Rent setting and collection
- Lease agreement preparation
- Routine inspections (including move-in and move-out inspections)
- Lease terms enforcement
- Maintenance and repairs management
- Tenant support
- Budget management
- Tax preparation
- Eviction assistance
Find the Best Property Management in Honolulu
Good rental management companies are hard to come by, especially if you don’t know where to look. Begin your search for the best property management company today using our comprehensive online directory. Search by city or state, browse through the list of reliable results and click on any (or all) of them to find out more information.