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Oahu Rental Market Overview
In February, the number of properties rented on Oahu increased year-over-year, but decreased from January 2025. As can be seen in the chart below, there has been a slight downward trend in rental volume over the past two and a half years. Median price in February was up compared to both time periods. Properties rented at about the same speed and received about the same ratio of rental price to asking price. There is a very small increase in the number of available rentals from last month.
Luxury rental volume surged year-over-year, up neraly 40% from February 2024; it increased 8.3% from last month. There was no change in median price year-over-year but month-over-month increased slightly. Luxury properties rented a couple days slower that last February but 5 days faster than in January. As of 3/24, there are 151 luxury properties currently available for long-term rent on Oahu, up 2.7% from January.
Long-Term Rentals Year-Over-Year: February 2025 vs. February 2024
- 423 Rented, up 5.7%
- $2,700 Median Rental Price, up 3.8%
- 29 Average Days on Market, 1 day slower
- Received 99.9% of Asking Price vs. 99.7%
Long-Term Rentals Month-Over-Month: February 2025 vs. January 2025
- 423 Rented, down 2%
- $2,700 Median Rental Price, up 3.8%
- 29 Average Days on Market, 1 day faster
- Received 99.9% of Asking Price, no change
Luxury Long-Term Rentals ($4,000+/mo) Year-Over-Year: February 2025 vs. February 2024
- 64 Rented, up 39.1%
- $4,500 Median Rental Price, no change
- 31 Average Days on Market, 2 days slower
- Received 100% of Asking Price vs 99%
Luxury Long-Term Rentals ($4,000+/mo) Month-Over-Month: February 2025 vs. January 2025
- 64 Rented, up 8.4%
- $4,500 Median Rental Price, up 2.2%
- 31 Average Days on Market, 5 days faster
- Received 100% of Asking Price, no change
Highest Rented Single-Family Home
Kahala, Diamond Head
4 bedrooms | 3 bathrooms | 2,600 sq ft living
Why this property is spectacular: This property features a large living room that seamlessly transitions to an outdoor pool through sliding doors, facilitating both indoor and outdoor living. Solar panels are installed to help reduce energy costs. The full kitchen offers ample counter space, while wood flooring throughout all living areas adds a touch of elegance. Situated in a prime location, this home is conveniently close to excellent schools, shopping centers, and dining options.
Rented for: $9,500/month after 20 days on market.
Source: State Tax Office & Bureau of Conveyances
Highest Rented Condo
Park Lane, Ala Moana
2 bedrooms | 2.5 bathrooms | 1,833 sq ft living
Why this property is spectacular: Highly desirable Ocean Residence has the spacious feel of a single family residence and an incredible 267 sf lanai. This dreamy home comes fully furnished and has soaring ceilings, integrated wine storage, luxurious baths, and walk-in closets. Park Lane is the epitome of luxury resort-living, simplified yet redefined. The incomparable amenities include a state-of-the-art fitness center, private training rooms, his and hers spa’s, a residential lounge, a private dining room, movie theater & more.
Rented for: $16,500/month after 84 days on market.
Source: State Tax Office & Bureau of Conveyances
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
