Breaking News Alerts

We'd like to send you alerts when breaking news happens. Hide this Message

Press "Allow" to Activate

×
  • News Topics
    • Maui News
    • Maui Business
    • Maui Discussion
    • Maui Coronavirus Updates
    • Maui Arts & Entertainment
    • 2022 Election
    • Crime Statistics
    • Maui Sports
    • Letters to the Editor
    • Maui Real Estate
  • Weather & Surf
    • Maui Weather Forecast
    • Maui Surf Report
  • Maui Lifestyle
    • Maui Job Listings
    • Food and Dining
    • Arts & Entertainment
    • Real Estate
    • Obituaries
    • Events Calendar
    • What’s Open
  • Latest Maui Videos
    • Hālau of ʻOiwi Art - Open House - May 20, 2022
      2022 Maui Police Week Memorial Service: officers, park ranger, federal agent honored
  • Special Sections
    • Medical Minute
    • IMUA Discovery Garden

 
 
 
 
Maui Now
Aloha, !
My Profile | Logout
Aloha, Guest!
Login | Register
    Maui Now
  • Sections
  • Maui News
  • Business
  • Weather
  • Election
  • Real Estate
  • Jobs
  • Obituaries
  • COVID-19
  • Letters to the Editor
  • News Topics
    • Maui News
    • Maui Business
    • Maui Discussion
    • Maui Coronavirus Updates
    • Maui Arts & Entertainment
    • 2022 Election
    • Crime Statistics
    • Maui Sports
    • Letters to the Editor
    • Maui Real Estate
  • Weather & Surf
    • Maui Weather Forecast
    • Maui Surf Report
  • Maui Lifestyle
    • Maui Job Listings
    • Food and Dining
    • Arts & Entertainment
    • Real Estate
    • Obituaries
    • Events Calendar
    • What’s Open
  • Latest Maui Videos
    • Hālau of ʻOiwi Art - Open House - May 20, 2022
      2022 Maui Police Week Memorial Service: officers, park ranger, federal agent honored
  • Special Sections
    • Medical Minute
    • IMUA Discovery Garden

Real Estate

Real Estate Maui Now is
brought to you in part by

New Report Shows Maui Residents Must Work 56.6 Hours Per Week to Afford Rent

June 9, 2020, 8:20 AM HST
* Updated June 10, 11:41 AM
Listen to this Article
1 minute
Loading Audio... Article will play after ad...
Playing in :00
A
A
A

Hawaiʻi residents must work 59 hours per week to afford rent of a single bedroom dwelling, according to a new report by Self Financial.  To afford a two bedroom unit, residents of Hawaiʻi must work more than 77 hours to afford rent, the study notes.

The study analyzed the median cost of rent in each state, as well as the median hourly wage to determine the locations where it is toughest to make rent in the country.

Maui’s Lahaina/Kahului/Wailuku area (which was lumped into one district), was identified as the third most unaffordable small metro area for renters in the US (behind Santa Cruz-Watsonville, CA at #1; and San Luis Obispo-Paso Robles-Arroyo Grande, CA at #2).  The report notes that those on Maui, must work 56.6 hours per week to afford a single bedroom unit.

Urban Honolulu was ranked fourth on the most unaffordable list for midsize metro areas (behind Santa Maria-Santa Barbara, CA at #1; Salinas, CA at #2, and Oxnard-Thousand Oaks-Ventura, CA at #3).

Topping the list for the most unaffordable large metro area for renters was San Jose-Sunnyvale-Santa Clara, CA at #1; followed by San Francisco-Oakland-Hayward, CA at #2; and Los Angeles-Long Beach-Anaheim at #3.

ARTICLE CONTINUES BELOW AD

Fair market rent for a one bedroom in Hawaiʻi was listed at more than $1500, and a two bedroom was just under $2,000; while the median wage in Hawaiʻi was around $44,000 per year.

ARTICLE CONTINUES BELOW AD

New data from the US Department of Housing and Urban Development reported fair market rents in the nation to be approximately $980 for a one-bedroom and $1,200 for a two-bedroom rental in 2020. Meanwhile, the most recent median hourly wage estimate from the BLS is $19.14 (compared to $21.35 in Hawaiʻi).

The full report by Jeff Smith at Self Financial is available here.

*Note: Self is a venture-backed startup that helps people build credit and savings.

Maui Jobs View All Jobs Chevron Forward
Andaz Maui at Wailea Resort & Spa
Engineering 1 Full Time $1,000 Sign on Bonus
South Maui · 3 weeks ago

Ka Lima O Maui
https://www.kalimaomaui.org/
Central Maui · 2 weeks ago

Fairmont Kea Lani, Maui
Spa Manager
South Maui · 1 week ago
Andaz Maui at Wailea Resort & Spa
Front Office Manager $2,000 Sign on Bonus
South Maui · 3 weeks ago

Subscribe to our Newsletter

Stay in-the-know with daily or weekly
headlines delivered straight to your inbox.
Cancel
Mahalo for Subscribing
×

Related Articles

  • Report shows rent prices spiked 41% on Maui; residents worry about finding a placeReport shows rent prices spiked 41% on Maui;… May 12, 2022
  • Fourth Hawaiʻi Commercial Rent Survey Shows Recovery, But Relief Still NeededFourth Hawaiʻi Commercial Rent Survey Shows… April 13, 2021
  • The Shops at Wailea Cut Hours, Cancels All Community Events, Store Hours VaryThe Shops at Wailea Cut Hours, Cancels All Community… March 17, 2020
  • Maui Real Estate Report for October Shows Activity Up and Supply DownMaui Real Estate Report for October Shows Activity… December 1, 2020
  • REALTORS® Association of Maui December Report Shows Strong Sales Despite COVID-19 PandemicREALTORS® Association of Maui December Report Shows… January 8, 2021
  • REALTORS® Association of Maui's January 2021 Report Shows Strong Housing MarketREALTORS® Association of Maui's January 2021 Report… February 9, 2021
Make the most of your Maui vacation with these top-rated activities: Maui Top 20: Maui Visitor & Tourism Information

Comments

This comments section is a public community forum for the purpose of free expression. Although Maui Now encourages respectful communication only, some content may be considered offensive. Please view at your own discretion. View Comments
Trending Now
1Red Placard Issued To Restaurant In Lahaina Maui 2County Of Maui Effort To Buy Wailuku Water System May Have Stalled For Good 3Maui Classification Moves To High Level Of Covid 19 Community Level Transmission 4Police Investigate Stabbing In Kihei Victim Sustains Laceration To His Hand 52022 Finalists For Outstanding Older Americans In Maui County To Be Recognized 6Kaiser Mental Health Clinicians During Maui Strike They Pushed Us To This
Back to Top
  • Maui News
  • Maui Business
  • Weather
  • Entertainment
  • Maui Surf
  • Maui Sports
  • COVID-19 Updates
  • Crime Statistics
  • Letters to the Editor
  • Maui Activities
  • Maui Discussion
  • Food and Dining
  • Real Estate
  • Events
  • What’s Open
  • Maui Jobs
  • About Maui Now
  • Contact Information
  • About Our Ads
  • App
  • Newsletter
  • Terms of Service

Copyright © 2022 Pacific Media Group. All Rights Reserved.
Privacy Policy | About Our Ads