Parking in Honolulu ranks among most expensive

Daily parking in Honolulu is nearly $2 more than in downtown Manhattan, according to a survey out in mid-July reported by Pacific Business News. According to the study, the median price of parking for one day in Honolulu is $32.75, ranking the city second on the list of most expensive cities in which to park.

Honolulu’s daily prices were more than the $31 median found in Manhattan but not as much as the wallet-crippling $40 forked over in New York City’s Midtown area.

The median monthly rate for an unreserved stall in Honolulu rose 4.7 percent, or $10, to $222.33 in the 12 months ending in June compared with the preceding year. This year’s median monthly rate made downtown Honolulu the ninth most expensive area out of 44 major metropolitan markets surveyed by commercial real estate firm Colliers International.

Midtown New York topped the list with a median rate of $538. Nationwide, the average price for monthly parking was $161.56, up 1.1 percent year over year. With the economic recovery unfolding in slow motion, parking rates are expected to show little change over the next 12 months, Colliers said. Rates are expected to trend upward beginning in the second half of 2011, however.