Real Estate Investing in Mililani, Hawaii (96789)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 96789 (Mililani, 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.
No major risk flags on the data we track.
What’s happening in Mililani, HI (96789)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 96789 Mililani
ZIP 96789 inside Honolulu County looks affordable on the surface — median value of $876K — but the discount exists for reasons that a careful buyer should understand before committing.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $876K asset, 96789 is the wrong submarket. If the plan prices in friction, the yield can still work.
The gap between 96789 and stronger Mililani ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
The 96789 ZIP's population of 54,608 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
Strategy in 96789 is an operator game, not a passive one. On the rental side, entry prices of $876K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Mililani:
Property Strategy for 96789
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $375,272 | $2,080 | 4.0% | +5.6% | $375,272 |
| 2BR | $498,311 | $2,720 | 3.9% | +4.7% | $249,156 |
| 3BR | $960,686 | $3,780 | 2.8% | +6.0% | $320,229 |
| 4BR | $1,102,597 | $4,560 | 3.0% | +5.9% | $275,649 |
| 5BR | $1,212,813 | — | — | +6.6% | $242,563 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 96789 Compare?
| Metric | 96789 | Mililani | Urban Honolulu, HI | Hawaii |
|---|---|---|---|---|
| Home Value | $876,347 | $876,347 | N/A | $824,731 |
| 5-Year CAGR | 3.4% | 3.4% | N/A | 5.4% |
| Avg Rent | $3,078 | $3,078 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
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 96789 (Mililani, HI). Anonymous, moderated, never written by AI.
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Property managers serving Honolulu County
Manage rentals here? List your business →HappyDoors Property Management offers services in Honolulu, Oahu, Hawaii, HI. summary from their website
Oishi's Property Management, founded in 1977 in Honolulu, Hawaii, provides quality management services to owners and condominium associations, also serving Las Vegas. summary from their website
Real Property Management Honolulu is a property management company in Honolulu, Hawaii. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $876,347 |
| Monthly Rent | $3,078 |
| Price-to-Rent | 23.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 6.1% |
📈 Home Appreciation
| 1-Year | +1.8% ▲ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | +3.4% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 Rent Trends
| 1-Year | +15.6% ▲ |
| 3-Year CAGR | +8.7% ▲ |
| 5-Year CAGR | +7.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 96789
Population: 54,608
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 96789
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 4,732 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How strong are rents in Mililani, HI?
Average rent in Mililani, HI is approximately $3,078/mo per month. Against $876K home values that yields a reasonable rent-to-price ratio.
Is Mililani, HI a friendly market for rental owners?
HI ranks as a landlord-friendly state for landlord-tenant law. Mililani generally follows the statewide framework, so landlords face reasonable operating rules.
What kind of market is Mililani, HI for investors?
Yes - Mililani, HI a 3.0/5 investability score. With $876K home prices against $3,078/mo monthly rent, the market delivers a reasonable entry point for new investors.
How tight is the rental market in Mililani, HI?
Rental vacancy in Mililani, HI is elevated. Investors should budget normal turnover but not chronic empty units.
How strong is tenant demand in Mililani, HI?
Tenant quality in Mililani, HI ranks as solid. Landlords generally report reliable occupancy at market rents of $3,078/mo.
You know 96789 now. You don’t know where it ranks.
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How 96789 ranks in Urban Honolulu, HI
Every ZIP in this metro, ranked. Free.
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