According to the Zillow Home Value Index, Hawaii remains one of the most expensive housing markets in the United States, but there are significant variations across the islands. You might be surprised to discover that several towns offer relatively more affordable options for those dreaming of paradise living.
Hawaii’s real estate market has seen dramatic growth over the past decade, with the least expensive towns experiencing an average 44.91% increase in home values just from 2020 to 2025. You’ll find that these growth patterns aren’t uniform, with some communities like Waimea on Kauai showing remarkable value increases of nearly 65% in just five years.
What you’ll notice in this analysis is that the majority of Hawaii’s most affordable towns are located on the Big Island, particularly in the Hilo metro area. This geographic concentration reveals how location dramatically influences pricing in Hawaii’s housing market, with proximity to Honolulu commanding significant premiums.
1. Lanai City
- 2025 Home Value: $728,004
- 2020 Home Value: $500,029
- 2015 Home Value: $384,720
- 2010 Home Value: $255,887
- % Change 2010-2025: 184.50%
- % Change 2015-2025: 89.23%
- % Change 2020-2025: 45.59%
In the highlands of Lanai island, you’ll find Lanai City offering a unique small-town experience on one of Hawaii’s least developed islands. Your real estate investment here would have achieved the highest long-term growth among all affordable Hawaiian towns, with a remarkable 184.50% increase between 2010 and 2025. Despite this explosive growth, the average home value of $728,004 in 2025 keeps Lanai City among the 25 most affordable towns in Hawaii, providing access to the island’s exclusive resorts, untouched beaches, and pristine natural landscapes.
2. Waimea
- 2025 Home Value: $704,094
- 2020 Home Value: $427,107
- 2015 Home Value: $362,135
- 2010 Home Value: $257,958
- % Change 2010-2025: 172.95%
- % Change 2015-2025: 94.43%
- % Change 2020-2025: 64.85%
On the western side of Kauai, you’ll discover Waimea as a historic seaside community near the entrance to stunning Waimea Canyon. Your property investment here would have seen remarkable appreciation of 172.95% between 2010 and 2025, nearly tripling in value over 15 years. With the fastest growth rate (64.85%) among all affordable Hawaiian towns between 2020 and 2025, Waimea’s average home value reached $704,094, reflecting its increasing desirability while still maintaining relative affordability by Hawaiian standards.
3. Captain Cook
- 2025 Home Value: $674,551
- 2020 Home Value: $472,248
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 42.84%
Along the western coast of the Big Island in the Kona coffee growing region, you’ll find Captain Cook offering a blend of agricultural heritage and residential communities. Your home investment here would have grown by 42.84% between 2020 and 2025, reaching an average value of $674,551.
4. Honomu
- 2025 Home Value: $639,997
- 2020 Home Value: $453,068
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 41.26%
Just north of Hilo on the Big Island’s eastern shore, you’ll discover Honomu serving as the gateway to the spectacular Akaka Falls. Your property investment here would have appreciated by 41.26% between 2020 and 2025, reaching an average value of $639,997.
5. Honokaa
- 2025 Home Value: $611,933
- 2020 Home Value: $417,141
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 46.70%
Nestled in the rolling hills of the Hamakua Coast on the Big Island, you’ll encounter Honokaa offering small-town charm with a preserved historic downtown. Your investment here would have grown by 46.70% between 2020 and 2025, with average home values reaching $611,933. This former sugar plantation hub has reinvented itself as a charming community with a distinctive character, where the historic theater, local shops, and annual Western Week festival contribute to its unique appeal.
6. Laupahoehoe
- 2025 Home Value: $603,820
- 2020 Home Value: $407,698
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 48.10%
Dramatically situated on the rugged Hamakua Coast of the Big Island, you’ll find Laupahoehoe perched between the ocean and the slopes of Mauna Kea. Your property here would have appreciated by 48.10% between 2020 and 2025, reaching an average value of $603,820.
7. Kapaau
- 2025 Home Value: $599,519
- 2020 Home Value: $398,805
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 50.33%
In the northern tip of the Big Island in the historic North Kohala district, you’ll discover Kapaau offering small-town charm with rich cultural significance. Your real estate investment here would have appreciated impressively by 50.33% between 2020 and 2025, reaching an average value of $599,519.
8. Waianae
- 2025 Home Value: $573,565
- 2020 Home Value: $431,864
- 2015 Home Value: $299,126
- 2010 Home Value: $253,081
- % Change 2010-2025: 126.63%
- % Change 2015-2025: 91.75%
- % Change 2020-2025: 32.81%
Located on Oahu’s western coastline, you’ll find Waianae offering the most affordable entry point to living on the same island as Honolulu. Your property value here would have increased significantly by 126.63% between 2010 and 2025, more than doubling your investment over this 15-year period. Despite being on Hawaii’s most populated island, Waianae maintains average home values of $573,565 in 2025, making it a relative bargain for those who need access to Honolulu’s employment opportunities while seeking more affordable housing.
9. Papaikou
- 2025 Home Value: $560,198
- 2020 Home Value: $380,683
- 2015 Home Value: $301,050
- 2010 Home Value: $259,421
- % Change 2010-2025: 115.94%
- % Change 2015-2025: 86.08%
- % Change 2020-2025: 47.16%
Just north of Hilo on the Big Island’s eastern shore, you’ll discover Papaikou offering convenient access to urban amenities while maintaining a small-town feel. Your investment here would have more than doubled over the 15-year span from 2010 to 2025, with an impressive 115.94% total appreciation. The consistent growth across all time periods analyzed shows the steady desirability of this community, where the average home value reached $560,198 in 2025 after 47.16% growth just since 2020.
10. Papaaloa
- 2025 Home Value: $555,954
- 2020 Home Value: $397,919
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 39.72%
Along the verdant Hamakua Coast of the Big Island, you’ll find Papaaloa nestled between dramatic gulches with panoramic Pacific views. Your property investment here would have grown by 39.72% between 2020 and 2025, bringing the average home value to $555,954.
11. Ookala
- 2025 Home Value: $531,659
- 2020 Home Value: $362,169
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 46.80%
Perched along the dramatic Hamakua Coast of the Big Island, you’ll encounter Ookala offering stunning ocean vistas from its elevation. Your home value here would have appreciated by 46.80% between 2020 and 2025, reaching an average of $531,659.
12. Hilo
- 2025 Home Value: $508,995
- 2020 Home Value: $348,789
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 45.93%
As the largest town on the Big Island and the county seat, you’ll discover Hilo offers a surprisingly affordable entry point to Hawaiian living with average home values of $508,995 in 2025. Your investment here would have grown by nearly 46% since 2020, reflecting the strong market growth seen throughout Hawaii.
13. Pepeekeo
- 2025 Home Value: $504,271
- 2020 Home Value: $350,584
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 43.84%
Along the scenic Hamakua Coast north of Hilo, you’ll find Pepeekeo offering dramatic ocean views and a rural plantation heritage. Your property investment would have increased by 43.84% between 2020 and 2025, reaching an average value of $504,271.
14. Keaau
- 2025 Home Value: $446,817
- 2020 Home Value: $295,558
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 51.18%
Just south of Hilo on the Big Island, you’ll discover Keaau serving as a residential hub with convenient access to the largest town on the island. Your home investment here would have appreciated dramatically by 51.18% between 2020 and 2025, reaching an average value of $446,817.
15. Paauilo
- 2025 Home Value: $443,925
- 2020 Home Value: $309,047
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 43.64%
Along the Hamakua Coast on the Big Island, you’ll find Paauilo offering spectacular ocean views and a quiet country lifestyle. Your property investment here would have grown by 43.64% between 2020 and 2025, reaching an average value of $443,925.
16. Hoolehua
- 2025 Home Value: $428,836
- 2020 Home Value: $289,805
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 47.97%
In the central plains of Molokai, you’ll discover Hoolehua offering agricultural living with expansive island views. Your home investment here would have appreciated by nearly 48% between 2020 and 2025, reaching an average value of $428,836.
17. Naalehu
- 2025 Home Value: $411,746
- 2020 Home Value: $267,010
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 54.21%
At the southernmost point of the United States, you’ll encounter Naalehu offering rural Hawaiian charm in a historic plantation setting. Your real estate investment here would have grown impressively by 54.21% between 2020 and 2025, reaching an average value of $411,746.
18. Kaunakakai
- 2025 Home Value: $410,710
- 2020 Home Value: $315,560
- 2015 Home Value: $238,468
- 2010 Home Value: $231,791
- % Change 2010-2025: 77.19%
- % Change 2015-2025: 72.23%
- % Change 2020-2025: 30.15%
As the main town on the island of Molokai, you’ll find Kaunakakai offering authentic Hawaiian living with a small-town atmosphere. Your property here would have appreciated by 77.19% between 2010 and 2025, with steady growth across all periods analyzed. With average home values of $410,710 in 2025, this community provides access to Molokai’s famous untouched landscapes and traditional Hawaiian culture at a more accessible price point than many other island locations.
19. Volcano
- 2025 Home Value: $392,253
- 2020 Home Value: $262,306
- 2015 Home Value: $193,836
- 2010 Home Value: $303,539
- % Change 2010-2025: 29.23%
- % Change 2015-2025: 102.36%
- % Change 2020-2025: 49.54%
Perched at 3,500 feet elevation near Hawaii Volcanoes National Park, you’ll discover Volcano village offering a unique climate and lifestyle unlike anywhere else in Hawaii. Your real estate investment here would have seen remarkable growth of 102.36% over the decade from 2015 to 2025, despite experiencing a significant dip in values between 2010 and 2015.
20. Kurtistown
- 2025 Home Value: $379,957
- 2020 Home Value: $257,535
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 47.54%
Between Hilo and Volcano on the eastern side of the Big Island, you’ll find Kurtistown offering a rural residential feel with convenient access to larger communities. Your property investment here would have appreciated substantially by 47.54% between 2020 and 2025, reaching an average value of $379,957.
21. Maunaloa
- 2025 Home Value: $342,314
- 2020 Home Value: $304,729
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 12.33%
Situated on the western end of Molokai, you’ll discover Maunaloa offering a quiet, rural Hawaiian lifestyle. Your real estate investment here would have grown at a more modest pace of 12.33% from 2020 to 2025, the lowest growth rate among Hawaii’s 25 most affordable towns. With average home values of $342,314 in 2025, Maunaloa remains one of the few relatively affordable options outside the Big Island, offering access to Molokai’s famous untouched beaches and traditional Hawaiian culture.
22. Mountain View
- 2025 Home Value: $329,721
- 2020 Home Value: $233,137
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 41.43%
Nestled in the lush rainforest area between Hilo and Volcano on the Big Island, you’ll find Mountain View offering affordable housing at an average of $329,721 in 2025. Your property investment here would have appreciated by 41.43% since 2020, matching the strong growth trend seen throughout Hawaii County.
23. Pahoa
- 2025 Home Value: $286,600
- 2020 Home Value: $202,816
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 41.31%
On the eastern side of the Big Island in the Puna District, you’ll encounter Pahoa, a charming town with a bohemian atmosphere. If you had purchased property here in 2020, your investment would have appreciated by 41.31% by 2025, reaching an average value of $286,600.
24. Ocean View
- 2025 Home Value: $281,583
- 2020 Home Value: $182,734
- 2015 Home Value: $127,916
- 2010 Home Value: $222,104
- % Change 2010-2025: 26.78%
- % Change 2015-2025: 120.13%
- % Change 2020-2025: 54.10%
Perched on the slopes of Mauna Loa volcano on the Big Island, you’ll discover Ocean View offers breathtaking vistas and the second-lowest home values in Hawaii. Your real estate investment here would have more than doubled over the decade from 2015 to 2025, with an extraordinary 120.13% growth. Interestingly, home values actually decreased between 2010 and 2015 before beginning a dramatic recovery, resulting in a 54.10% surge just in the five years from 2020 to 2025.
25. Pahala
- 2025 Home Value: $276,641
- 2020 Home Value: $180,350
- 2015 Home Value: Data not available
- 2010 Home Value: Data not available
- % Change 2020-2025: 53.39%
Located in the southern region of the Big Island, you’ll find Pahala nestled in Hawaii County within the Hilo metro area. Your investment in this former sugar plantation town would have grown impressively, with home values increasing by more than 53% between 2020 and 2025. With the most affordable average home values in the entire state at $276,641, Pahala offers an entry point to Hawaiian living that’s significantly below the state average.
