Real Estate Investing in Waipahu, Hawaii (96797)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 96797 (Waipahu, 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 price-to-rent: Price-to-rent ratio 25.0 — hard to cash-flow at these prices.
What’s happening in Waipahu, HI (96797)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 96797 Waipahu
Not every below-median market is a bargain. Waipahu's 96797 ZIP records signals that favor experienced operators who can absorb the risk $870K pricing implies.
The 96797 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 96797 sits on the difficult end of the HI spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
Employment concentration in 96797 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Experienced landlords with local relationships tend to find 96797 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Waipahu:
Property Strategy for 96797
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $378,885 | $1,850 | 3.5% | +5.2% | $378,885 |
| 2BR | $499,068 | $2,430 | 3.5% | +4.1% | $249,534 |
| 3BR | $890,225 | $3,380 | 2.7% | +4.4% | $296,742 |
| 4BR | $986,891 | $4,080 | 3.0% | +4.5% | $246,723 |
| 5BR | $1,084,312 | — | — | +5.2% | $216,862 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 96797 Compare?
| Metric | 96797 | Waipahu | Urban Honolulu, HI | Hawaii |
|---|---|---|---|---|
| Home Value | $870,324 | $870,324 | N/A | $824,731 |
| 5-Year CAGR | 3.1% | 3.1% | N/A | 5.4% |
| Avg Rent | $2,897 | $2,897 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
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 96797 (Waipahu, HI). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 96797 (Waipahu, HI)?
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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 | $870,324 |
| Monthly Rent | $2,897 |
| Price-to-Rent | 25.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.7% |
📈 Home Appreciation
| 1-Year | +3.3% ▲ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | +3.1% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 Rent Trends
| 1-Year | +9.1% ▲ |
| 3-Year CAGR | +6.4% ▲ |
| 5-Year CAGR | +6.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). 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 96797
Population: 72,717
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 96797
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 3,676 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Waipahu, HI a good place for real estate investing?
Our data puts Waipahu, HI at 3.0/5 for investability. Home prices of $870K and rents around $2,897/mo create a solid backdrop for investor activity.
How do experienced investors play Waipahu, HI?
Investors usually favor careful cash-flow rentals with hands-on management in Waipahu, HI. With home values at $870K and rents near $2,897/mo, other strategies can work but produce measured rather than outsized returns.
How strong is the working-renter base in Waipahu, HI?
Expect a solid tenant pool in Waipahu, HI. The rental market absorbs $2,897/mo rents without meaningful friction.
Is house hacking profitable in Waipahu, HI?
Waipahu, HI offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $2,897/mo rent level.
How high is vacancy risk in Waipahu, HI?
Rental vacancy in Waipahu, HI is elevated. Investors should budget normal turnover but not chronic empty units.
You know 96797 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 96797 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 96797 ranks in Urban Honolulu, HI
Every ZIP in this metro, ranked. Free.
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