FMR is below market; voucher rent may lag private rents.
0.79
1 BR
1 BR- 96768
0.70ratio
FMR$2,000
Market$2,870
vs market-$870
FMR is below market; voucher rent may lag private rents.
0.70
2 BR
2 BR- 96768
0.80ratio
FMR$2,620
Market$3,270
vs market-$650
FMR is below market; voucher rent may lag private rents.
0.80
3 BR
3 BR- 96768
0.90ratio
FMR$3,310
Market$3,690
vs market-$380
FMR is below market; voucher rent may lag private rents.
0.90
4 BR
4 BR- 96768
0.77ratio
FMR$4,090
Market$5,300
vs market-$1,210
FMR is below market; voucher rent may lag private rents.
0.77
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Makawao, HI fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Makawao, HI is $2,620 a month. That is up 0.8% from $2,600 in FY 2026. Makawao is in the Kahului-Wailuku-Lahaina, HI HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,656. The median county two-bedroom FMR in Hawaii is $2,326, so Makawao is 13% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Makawao, HI
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,880
$1,820
−3.2%
$1,638–$2,002
1BR
$1,980
$2,000
+1.0%
$1,800–$2,200
2BR
$2,600
$2,620
+0.8%
$2,358–$2,882
3BR
$3,370
$3,310
−1.8%
$2,979–$3,641
4BR
$4,200
$4,090
−2.6%
$3,681–$4,499
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Makawao, HI
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,820
$2,000
$2,620
$3,310
$4,090
FY 2026
$1,880
$1,980
$2,600
$3,370
$4,200
FY 2025
$1,720
$1,730
$2,270
$3,050
$3,520
FY 2024
$1,650
$1,680
$2,110
$2,890
$3,190
FY 2023
$1,480
$1,550
$1,920
$2,640
$2,850
Questions about Makawao, HI rents
How much will Section 8 pay for a two-bedroom in Makawao, HI?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,656, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,390 to $2,922 a month; under the ZIP-level Small Area FMR of $2,620 it would be $2,358 to $2,882. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Makawao, HI in?
Makawao, HI is in the Kahului-Wailuku-Lahaina, HI HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,656.
How much did fair market rent change in Makawao, HI for FY 2027?
The two-bedroom FMR rose 0.8%, from $2,600 in FY 2026 to $2,620 in FY 2027. Since FY 2023 it has risen 36.5%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set