Up and Coming: The 10 Oahu Neighborhoods Experiencing the Highest Rent Increases
As Oahu’s population and popularity continue to grow, so too does its cost of living. The island’s real estate market has experienced substantial changes over the years, with some neighborhoods witnessing dramatic increases in rental rates. In this article, we’ll explore the top 10 Oahu neighborhoods where rents have risen the most, providing the percentage increase and what each unique area has to offer.
- Kaka’ako – 18% increase
The urban haven of Kaka’ako is experiencing a rapid renaissance with the development of upscale apartments, trendy eateries, and boutique shops. This neighborhood is perfect for those who enjoy an urban lifestyle combined with island living.
- Hawaii Kai – 16% increase
With a prime location on Oahu’s eastern coast, Hawaii Kai is a sought-after residential community known for its marina-front properties, excellent schools, and high quality of life.
- Waialae – Kahala – 15% increase
Known as the “Beverly Hills of Hawaii,” the Waialae – Kahala neighborhood is home to luxury residences, celebrity-owned properties, and increased rent prices reflecting its upscale nature.
- Ala Moana – 14% increase
Ala Moana, home to the world’s largest open-air shopping center, has seen rising rents due to its proximity to shopping, dining, and beautiful beaches.
- Kailua – 13% increase
As a laid-back beach town with a friendly community, Kailua has become increasingly popular, leading to significant rent increases over the past few years.
- Diamond Head – 12% increase
Bordering Waikiki and home to the iconic Diamond Head Crater, this neighborhood offers a mix of quaint cottages and high-end homes with increasing rental prices.
- Manoa – 11% increase
Manoa, home to the University of Hawaii at Manoa, is a beautiful, green-filled neighborhood. Demand for housing here has led to a rise in rental costs.
- Kapolei – 10% increase
Known as “Oahu’s Second City,” Kapolei has been expanding rapidly with new developments, causing an uptick in rental prices.
- Mililani – 9% increase
Located in Central Oahu, Mililani is a family-friendly community with well-planned residential areas. Its appeal to families and professionals has boosted its rental market.
- Waipahu – 8% increase
As one of the older communities on the island, Waipahu is experiencing a revitalization with new businesses and residential developments, leading to increased rents.
Remember, while the rental market in Oahu continues to change, it’s essential to find a neighborhood that suits your lifestyle and budget. Before deciding, make sure to visit the neighborhood, talk with locals, and consult with a knowledgeable real estate agent. Happy house hunting
Celester Thomas
