The Element is a considerably more expensive car than the Fit. The 4wd capability will add even more cost. I definitely think it's a better car, but it costs more. On the Honda site, the low-end 2wd LX is $18,980. The 4wd LX is $20,380. 4wd gas mileage is 19/24.
The low-end Fit with automatic transmission is $14,750 and the gas mileage is 27/34.
Although I've never tried it, I suspect that the Honda Fit can hold a 8'6" longboard inside the vehicle. It's not clear how big a board the Element can hold.
How big a board can the Toyota Yaris hold inside the vehicle? That's a cute vehicle. The gas mileage is 29/35 and the cost for automatic is $12,250. Manual is $11,350.
There also seems to be more cost involved in buying a new car in the SF Bay area. Is it possible to buy these cars for the MSRP prices on the Honda web site? There always seems to be a lot of markup. There's also the costs of tax and license.