Rental markets are dependent on local conditions, so I cannot comment on the Hawaiian situation, but my recent experience in San Diego suggests it is weak here.
I had remarkably low response to my aggressive marketing of a University Heights/Normal Heights house. Quickly lowered the rent & have a likely tenant as I believe in quickly adjusting to market realities. Noticed a lot of competing houses languishing on the market for a long time.
Prospective landlords should lower their revenue expectations in recognition of the deflationary environment we are in, at least for high/middle range houses.
