Apartment vacancies in Honolulu rank among the lowest in the nation, driven by chronic undersupply and limited land for development. As of the fourth quarter of 2025, the vacancy rate is 3.7%, a fraction of the national average of 8.4%.
Chronic undersupply and limited land for development keep Honolulu’s multifamily vacancies low
Supply-demand balance expected to persist in the near term
CoStar Analytics
November 24, 2025 | 5:24 P.M.
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