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Buying a business: California vs Hawaii

Two markets side by side — inventory, pricing, and what you actually pay per dollar of cash flow, from live Waterfall data.

California

6,340 active listings
Active listings6,340 Edge
Median asking$345,000 Edge
Median cash flow$178,627
Typical multiple1.9×
Owner-earnings yield~52%
Median revenue$750,000
VS

Hawaii

96 active listings
Active listings96
Median asking$575,000
Median cash flow$190,000 Edge
Typical multiple3.0×
Owner-earnings yield~33%
Median revenue$978,000

Who wins?

California has 6504% more businesses on the market than Hawaii (6,340 vs 96). California is cheaper at the median asking price. California trades at a lower multiple (1.9× vs 3.0×), meaning you pay less per dollar of cash flow there.

MetricCaliforniaHawaii
Active listings6,34096
Median asking$345,000$575,000
Median cash flow$178,627$190,000
Typical multiple1.9×3.0×
Owner-earnings yield~52%~33%
Median revenue$750,000$978,000
Related comparisons

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