Real Estate Investing in Waianae, Hawaii (96792)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 96792 (Waianae, HI)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 12.8% of homes vacant — above national norms.
What’s happening in Waianae, HI (96792)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 96792 Waianae
The 96792 ZIP in Waianae, HI is a local-operator market. Outside capital chasing a $584K entry has to pair deep knowledge with the discount.
Rent of $2,339/mo on a $584K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 96792 sits below the stated 0.0% once reality is priced in.
Regionally, 96792 sits on the difficult end of the HI spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
Resident income in 96792 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Waianae's stable or hybrid ZIPs before stepping into 96792. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Waianae:
Property Strategy for 96792
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $230,452 | $1,800 | 5.6% | +2.8% | $230,452 |
| 2BR | $291,459 | $2,360 | 5.8% | +4.0% | $145,730 |
| 3BR | $601,340 | $3,280 | 3.9% | +4.6% | $200,447 |
| 4BR | $667,004 | $3,960 | 4.3% | +4.5% | $166,751 |
| 5BR | $802,641 | — | — | +4.6% | $160,528 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 96792 Compare?
| Metric | 96792 | Waianae | Urban Honolulu, HI | Hawaii |
|---|---|---|---|---|
| Home Value | $583,642 | $583,642 | N/A | $824,731 |
| 5-Year CAGR | 2.0% | 2.0% | N/A | 5.4% |
| Avg Rent | $2,339 | $2,339 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
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 96792 (Waianae, 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 | $583,642 |
| Monthly Rent | $2,339 |
| Price-to-Rent | 20.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 5.1% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | -0.2% ▼ |
| 5-Year CAGR | +2.0% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 Rent Trends
| 1-Year | -0.9% ▼ |
| 3-Year CAGR | +5.6% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). 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 96792
Population: 49,879
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 96792
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 2,661 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do home values compare in Waianae, HI?
Homes in Waianae, HI typically sell near $584K. Prices have moved at a 0.0% 5-year CAGR, which measured long-term demand.
Which investment style suits Waianae, HI?
Investors usually favor careful cash-flow rentals with hands-on management in Waianae, HI. With home values at $584K and rents near $2,339/mo, other strategies can work but produce predictable rather than outsized returns.
Is Waianae, HI good for landlords?
For rental operators, Waianae, HI rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
Does Waianae, HI make sense for an investment property?
With a 2.0/5 investability score, Waianae, HI ranks as a solid market for rental property investors. Median prices of $584K and rents of $2,339/mo drive the underlying numbers.
Are renters plentiful in Waianae, HI?
Working renters make up the core of the Waianae, HI tenant base. The pool is reasonable for investors targeting long-term holds.
You know 96792 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 96792 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 96792 ranks in Urban Honolulu, HI
Every ZIP in this metro, ranked. Free.
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