Real Estate Investing in Waikoloa, Hawaii (96738)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 96738 (Waikoloa, HI)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 42.1% of homes vacant — above national norms.
What’s happening in Waikoloa, HI (96738)?
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Market Analysis: 96738 Waikoloa
From an investor standpoint, ZIP 96738 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $834K median. It rewards specialists, not generalists.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 96738 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Within HI, ZIP 96738 trails on several market indicators that neighboring Hawaii County submarkets outperform. The gap is real and notable enough to shape underwriting.
Who lives in 96738 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
appears to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Waikoloa:
Property Strategy for 96738
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $442,789 | $2,180 | 3.5% | +9.8% | $442,789 |
| 2BR | $697,781 | $2,830 | 2.9% | +12.1% | $348,890 |
| 3BR | $895,662 | $3,570 | 2.9% | +9.5% | $298,554 |
| 4BR | $1,025,127 | $4,120 | 2.9% | +8.9% | $256,282 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 96738 Compare?
| Metric | 96738 | Waikoloa | Hilo, HI | Hawaii |
|---|---|---|---|---|
| Home Value | $833,915 | $833,915 | N/A | $824,731 |
| 5-Year CAGR | 7.2% | 7.2% | N/A | 5.4% |
| Avg Rent | $3,167 | $3,167 | N/A | - |
| Cap Rate | 3.0% | 3.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 96738 (Waikoloa, HI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $833,915 |
| Monthly Rent | $3,167 |
| Price-to-Rent | 22.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.6% |
| Cap Rate | 3.0% |
| 5-Year IRR | 10.2% |
📈 Home Appreciation
| 1-Year | -0.4% ▼ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 96738
Population: 7,407
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 96738
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What real estate strategy is ideal for Waikoloa, HI?
Waikoloa, HI investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($834K prices, $3,167/mo rents) make it a reasonable choice.
Are renters plentiful in Waikoloa, HI?
Working renters make up the core of the Waikoloa, HI tenant base. The pool is reasonable for investors targeting long-term holds.
What is the average monthly rent in Waikoloa, HI?
Rent in Waikoloa, HI is around $3,167/mo. The resulting rent-to-value relationship with $834K pricing is reasonable for most investor models.
Can owner-occupants cash flow in Waikoloa, HI?
Waikoloa, HI is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $834K price point reasonable to enter.
What is it like being a landlord in Waikoloa, HI?
HI law landlord-friendly for landlords, and Waikoloa inherits those rules. Investors should still review local ordinances for rental licensing.
You know 96738 now. You don’t know where it ranks.
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How 96738 ranks in Hilo, HI
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