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Oahu Rental Market Overview
The number of Oahu properties rented in August decreased both year-over-year and month-over-month. Median price increased compared to both time periods and properties rented more quickly. The number of available rentals increased slightly from the past few months to the highest it’s been since May 2023.
In the luxury rental market, the number of properties rented in August also decreased year-over-year and month-over-month. Median price decreased year-over-year but stayed the same as in July. Luxury properties rented much faster compared to both time periods. There are 137 luxury properties currently available for long-term rent on Oahu, an 8.7% increase from July.
Highest Rented Single-Family Home
Diamond Head
3 bedrooms | 2.5 bathrooms | 3,170 sf living
Why this property is spectacular: Coastal living at its best. Enjoy this stunning 3 bdr/2.5 bth residence in one of the most coveted streets in the premier neighborhood in Diamond Head. Expansive living room opening up to a private courtyard and lanai looking out to the gorgeous ocean views. Upstairs features an office/den plus 3 bedrooms including the primary suite with a private lanai and stunning ocean views. Gated property featuring a tiled pool, long private driveway, and 2- car garage. Premier location just minutes to sandy beaches, surf spots, Kapiolani Park, Waikiki, restaurants, shopping, and more.
Rented for: $11,000/month after 84 days on market.
Source: State Tax Office & Bureau of Conveyances
Highest Rented Condominium
The Watermark, Waikiki
3 bedrooms | 3.5 bathrooms | 2,199 sf living
Why this property is spectacular: Behold luxury, Class and Convenience in Waikiki. Serene ocean, city, park, mountain, sunset views from floor to ceiling windows and open, breezy lanai. Located in the quiet part of Waikiki where traffic is minimal. Great amenities- 24 hr. security, gym, BBQ, park, heated pool and more! Fully furnishes, granite counters, Viking appliances.
Rented for: $8,500/month after 76 days on market.
Source: State Tax Office & Bureau of Conveyances Picture from Honolulu Board of Realtors
We manage rental properties across Oahu, from Honolulu, to Leeward Oahu, to Kailua and the North Shore. We would be happy to answer any property management or real estate sales questions you have. Call us to schedule a private consultation at (808) 593-9826 or email concierge@caronb.com
