What are you seeing in Hawaii's rental market?

[Isi Nau]

-Hawaii properties only

-Rental listings in the past 0-3 months

-Any residential property type

-Anecdotal data ok

If you wouldn't mind sharing what you've seen recently for your rental listings (time on the market, drop in list price, number of applicants, etc.).  Specifying which island, which neighborhood, and property type/size would be helpful.  We've asked around in our circle and have received mixed responses from across Oahu. Figured I'd tap the BP circle and see what people are experiencing.

For us, we've seen a drop in calls/emails inquiring about our rental listing.  What made it noticeable was how quickly it changed.  For example:

April - Oahu (Mililani) - numerous applicants - rented in 10 days (this has been typical for quite a while)

May - Oahu (Mililani) -  4 applicants - rented in 22 days

June - Oahu (Wahiawa) - 5 applicants - rented in 25 days

All three units are 1 and 2 bedroom condos, competitively priced.

Looking at Mililani Parkway for example.  In April/May most Craigslist listings were around $1800 and within 2 weeks they were down around $1700.  We listed ours at $1660.

We have another unit in Wahiawa coming available in late July.  Should be interesting.