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Oahu Luxury Rental Market Overview
Oahu’s luxury long-term rental market remained active in September, with 99 properties rented for a median rent of $4,500. While rental activity declined 12.4% from August and the median rent fell 6.2%, the year-over-year picture was more positive. The number of rented properties increased 6.4% compared with September 2025, while the median rental price was only 2.1% lower. Properties also rented more quickly than a year ago, averaging 35 days on market, five days faster than September 2025.
The combination of stronger year-over-year leasing activity and slightly softer pricing suggests a market where demand remains healthy, but renters continue to be price-conscious. September properties received an average of 99.5% of asking rent, compared with 100% a year ago and 99.7% in August. The underlying rental data also shows activity across a broad range of price points, from $4,000 per month into the upper luxury tier, demonstrating that well-positioned properties continue to attract tenants throughout Oahu’s higher-end rental market. As of October 28, there are 156 available long-term, luxury rentals, down 3.7% from last month.
For property owners, the September results reinforce the importance of strategic pricing and strong property presentation from the moment a home enters the market. With rents easing from August and average market time ticking up slightly month over month, testing an aggressive rental price can mean losing valuable exposure during the critical first weeks of a listing. Properties that are priced appropriately for their location, condition, amenities, and competition are better positioned to secure qualified tenants sooner and minimize vacancy, which can ultimately be more valuable than holding out for a higher monthly rent.
Luxury Long-Term Rentals ($4,000+/mo) Year-Over-Year: September 2026 vs. September 2025
- 99 Rented, up 6.4%
- $4,500 Median Rental Price, down 2.1%
- 35 Average Days on Market, 5 days faster
- Received 99.5% of Asking Price vs. 100%
Luxury Long-Term Rentals ($4,000+/mo) Month-Over-Month: September 2026 vs. August 2026
- 99 Rented, down 12.4%
- $4,500 Median Rental Price, down 6.2%
- 35 Average Days on Market, 2 days slower
- Received 99.5% of Asking Price vs. 99.7%
Oahu Rental Market Overview (All Prices)
Oahu’s overall long-term rental market remained steady in September, with 455 properties rented and a median rental price of $3,000. While the number of rentals declined slightly from September 2025, the median rent was unchanged. Renters paid an average of 99.8% of asking price, nearly identical to 99.9% a year ago. Together, these numbers point to a market that has maintained both pricing and demand despite modest fluctuations in leasing activity.
Month over month, activity cooled somewhat, with the number of rented properties falling 9.3% from August and average days on market increasing by three days. However, pricing remained resilient. The median rent actually edged 0.5% higher to $3,000, while properties received 99.8% of asking rent. September’s rentals also spanned a broad range, from $525 to more than $10,000 per month, reflecting the diversity of Oahu’s long-term rental market. As of October 28, there are 531 available long-term rentals on Oahu.
For property owners, the takeaway is a stable but price-sensitive market. Tenants continue to lease well-positioned properties at very close to asking price, but the month-over-month slowdown suggests that owners should not assume a strong property will automatically rent quickly at any price. Accurate pricing, professional presentation, responsive management, and evaluating competing inventory remain important to reducing vacancy and protecting overall rental income, particularly as the market shifts from month to month.
Long-Term Rentals Year-Over-Year: September 2026 vs. September 2025
- 455 Rented, down 1.7%
- $3,000 Median Rental Price, no change
- 29 Average Days on Market, 1 day faster
- Received 99.8% of Asking Price vs. 99.9%
Long-Term Rentals Month-Over-Month: September 2026 vs. August 2026
- 455 Rented, down 9.3%
- $3,000 Median Rental Price, up 0.5%
- 29 Average Days on Market, 3 days slower
- Received 99.8% of Asking Price vs. 99.7%
Highest Rented Single-Family Home
Kahala, Diamond Head
3 bedrooms | 3 bathrooms | 2,662 sq ft living
Why this property is spectacular: Main house is a 2 bedroom and an additional smaller room, great for relaxation room, meditation room or use the vibrating massage table included in the rental for better circulation and health benefits. Additional separate dwelling with 1 bedroom, a full bathroom and full kitchen. 55 PV Solar Panels + battery backup, so electric utilities will be minimal! Electric vehicle charging station. AC throughout both units. Lovely view of the neighborhood and ocean from the east facing windows and large and friendly covered lanai area.
Rented for: $9,600/month after 20 days on market.
Source: State Tax Office & Bureau of Conveyances
Highest Rented Condo
One Ala Moana, Ala Moana
2 bedrooms | 2.5 bathrooms | 1,461 sq ft living
Why this property is spectacular: Experience elevated island living in this luxurious high-floor residence at One Ala Moana featuring breathtaking ocean, marina & sunset views in the heart of Ala Moana / Ward Village. This spacious, beautifully appointed residence offers floor-to-ceiling windows, elegant contemporary finishes, a bright open-concept layout filled with natural light. The primary suite features stunning ocean views, spa-inspired bath with double vanities, soaking tub, walk-in shower & large walk-in closet. The second bedroom also enjoys beautiful ocean & marina views with its own full bathroom. Separate den/office includes a queen-size pull-out couch, desk, and printer, ideal for remote work or accommodating additional guests.
Rented for: $10,262/month after 9 days on market (63 combined DOM).
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.
