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Oahu Luxury Rental Market Overview
There were 113 luxury property rentals on Oahu in August, a 32.9% increase from last August. This substantial year-over-year gain highlights strong demand for high-end rental homes and condominiums across Oahu’s most desirable neighborhoods. The median luxury rental price reached $4,800 per month, up 6.6% year-over-year, reflecting continued confidence in the upper-tier rental market. The combination of rising rents and a sharp increase in transaction volume suggests that both tenants and property owners remain active in the luxury segment, despite broader economic uncertainties.
Compared to July 2026, the luxury rental market experienced a slight moderation in leasing activity, with rentals declining 3.4% month-over-month. However, pricing continued to move higher, as the median rental rate increased 2.1% during the same period. Average days on market increased by 8 days to 33, suggesting tenants may be taking a bit longer to evaluate options, while properties still secured nearly full asking price at 99.7%, only slightly below the 100% achieved in July. As of September 25, there are 162 available long-term, luxury rentals, down 9.5% from last month.
Overall, August’s results reinforce the strength of Oahu’s luxury rental sector. Strong year-over-year growth in both rental volume and rental rates, combined with minimal discounting from asking prices, points to a healthy and competitive market. While activity softened slightly from the previous month, demand for premium rental properties remains robust, providing favorable conditions for luxury property owners and investors throughout Oahu.
Luxury Long-Term Rentals ($4,000+/mo) Year-Over-Year: August 2026 vs. August 2025
- 113 Rented, up 32.9%
- $4,800 Median Rental Price, up 6.6%
- 33 Average Days on Market, no change
- Received 99.7% of Asking Price, no change
Luxury Long-Term Rentals ($4,000+/mo) Month-Over-Month: August 2026 vs. July 2026
- 113 Rented, down 3.4%
- $4,800 Median Rental Price, up 2.1%
- 33 Average Days on Market, 8 days slower
- Received 99.7% of Asking Price vs. 100%
Oahu Rental Market Overview (All Prices)
The Oahu long-term rental market remained resilient in August 2026, with rental activity holding steady and pricing continuing to climb. 502 properties were rented in August, a 1.6% year-over-year increase. The most notable trend was the continued rise in rental prices. The median rental price reached $2,985, an 11.8% increase year-over-year, highlighting the strength of the market and the willingness of tenants to pay premium rates for quality rental properties in desirable locations. This growth significantly outpaced the increase in rental volume, indicating that pricing appreciation remains a key driver of market performance.
Compared to July 2026, rental activity eased modestly. The number of rentals declined 2.5% month-over-month, while the median rental price dipped just 0.5%. Average days on market remained unchanged at 26 days, and tenants continued to lease properties at 99.7% of asking price, reflecting a stable and balanced market environment. As of September 23, there are 528 available long-term rentals on Oahu.
Overall, August’s results point to a healthy Oahu rental market characterized by strong pricing, steady demand, and minimal discounting. While leasing activity softened slightly from the previous month, year-over-year gains in both rental volume and median rents underscore the continued strength of the island’s long-term rental sector and the favorable conditions for property owners and investors.
Long-Term Rentals Year-Over-Year: August 2026 vs. August 2025
- 502 Rented, up 1.6%
- $2,985 Median Rental Price, up 11.8%
- 26 Average Days on Market, 1 day slower
- Received 99.7% of Asking Price vs. 99.8%
Long-Term Rentals Month-Over-Month: August 2026 vs. July 2026
- 502 Rented, down 2.5%
- $2,985 Median Rental Price, down 0.5%
- 26 Average Days on Market, no change
- Received 99.7% of Asking Price vs. 99.7%
Highest Rented Single-Family Home
Portlock, Hawaii Kai
5 bedrooms | 5.5 bathrooms | 5,438 sq ft living
Why this property is spectacular: Located in the prestigious Portlock neighborhood, this gated residence offers privacy and easy access to Maunalua Bay, with a beach access walkway just steps away. Designed by award-winning architect James McPeak, the home features soaring ceilings, expansive windows, Italian porcelain flooring, and spacious interior living areas. The layout includes five bedrooms, two primary suites with private lanais, a bonus room ideal for an office or gym, spa-style bathrooms, and a private in-home sauna. Set on a 13,000+ sq ft lot, the outdoor space is built for relaxing and entertaining, with a 50-foot saltwater pool and spa, covered lanai, and outdoor bar area.
Rented for: $13,000/month after 66 days on market.
Source: State Tax Office & Bureau of Conveyances
Highest Rented Condo
Hokua, Kaka’ako
2 bedrooms | 3 bathrooms | 2,348 sq ft living
Why this property is spectacular: Penthouse level, 10′ high ceilings, floor to ceiling windows with huge sweeping ocean views that will wow you. Fully furnished with designer style furnishings. Unit recently has upgraded to luxury vinyl flooring, motorized shades and a new Sound system. Includes water, cable, internet, gas and two parking stalls. Electricity is a separate charge. Live in a luxury building near Ala Moana Beach and Ala Moana shopping center, with gorgeous amenities, services along with a very convenient location.
Rented for: $10,000/month after 167 days on market.
Source: State Tax Office & Bureau of Conveyances
Your Hawaii Property Management Experts
Doug T. Davis is an Oahu-based Broker-in-Charge with 45+ years of experience, over 2,000 closed transactions, and more than $1 billion in career sales. He specializes in complex real estate transactions, as well as property management and estate management. Known for navigating high-stakes and challenging deals across all property types, Doug is a trusted resource for clients who need experience-driven results.
Caron B Realty International provides luxury property management and estate management services across Oahu, with a specialized focus on long-term luxury rentals. With more than 10 years of property management experience, the firm has leased over 70 properties and currently manages over 40 residential units. Our team focuses on high-end homes, second residences, and investment properties, working closely with mainland and international owners seeking consistent, long-term rental performance.
Our company’s management strategy is built around securing stable, high-quality tenants and maximizing long-term returns. 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. If you’re looking for help buying or sellign in Hawaii, visit our real estate sales website here.
