Location: Kahului-Wailuku-Lahaina, HI | Metro: Kahului-Wailuku-Lahaina, HI HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,150 |
| 1 Bedroom | $2,360 |
| 2 Bedrooms | $3,090 |
| 3 Bedrooms | $3,900 |
| 4 Bedrooms | $4,820 |
| 5 Bedrooms | $5,591 |
| 6 Bedrooms | $6,262 |
| 7 Bedrooms | $6,763 |
| 8 Bedrooms | $7,101 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,360 | $600,108 | 0.39% | F |
| 2BR | $3,090 | $880,943 | 0.35% | F |
| 3BR | $3,900 | $738,040 | 0.53% | F |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 96713, located in Hana, HI, within the Kahului-Wailuku-Lahaina, HI HUD Metro FMR Area, reveals key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for this area is set at $3,120 for FY 2024. In comparison, the Census ACS reports a market rent of $3,227 for the same period. This indicates that voucher tenants will generally cashflow at the FMR level, but only marginally due to the slight discrepancy between the HUD FMR and the actual market rent.
To further contextualize this, the median home value in ZIP 96713 is $801,799. Using this figure, we can calculate the rent-to-price ratio. A property priced at $801,799 would need to generate approximately $3,120 in monthly rent to align with the HUD FMR. This translates to a rent-to-price ratio of about 0.46%, which is relatively low compared to typical market expectations. This suggests that the rental market is slightly underpriced relative to home values, indicating potential for modest appreciation over time.
The data also shows that the median days on market (DOM) is not available for this specific area, and the price-cut share is 0%. These figures imply that the real estate market in Hana, HI, is stable, with properties selling quickly without significant price adjustments. While the lack of DOM data limits a full understanding of market dynamics, the absence of price cuts suggests strong demand and a robust local economy supporting housing prices.
In conclusion, for Section 8 investors targeting ZIP 96713, the strongest angle is likely stability. Despite the marginal cashflow situation, the absence of price cuts and the quick sale times indicate a reliable and consistent investment environment. Additionally, the potential for modest appreciation adds another layer of security to the investment strategy.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.