The multi-family market in Honolulu is on a comfortable and steady rise. In 2011 alone, 20 multi-families were sold in Honolulu and 61 mufti-families were sold state-wide. This can be attributed by the increasing average rental rates of 12% in the last 3 years and a decreasing vacancy rate at a low 2.1% in 3Q of 2011. The vacancy rate in Honolulu, 2.1%, is strikingly low compared to the rest of the nation which comes in at 5.6%. With a continuously decreasing asking price, -11.8% state-wide from October 2011, we will see an increase in sales for 2012.