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Oahu Rental Market Overview
Oʻahu’s long‑term rental market in March 2026 showed a notable split between demand and pricing power. Year‑over‑year, rented units fell sharply by 14.8%, signaling softer activity. However, median rent price climbed 7.7% to $2,800, suggesting that limited supply or stronger competition for quality units is keeping prices elevated. Days on market held steady at 27, but the real standout was negotiation strength. Properties secured an average of 102% of asking price compared to 99.8% last year.
Month‑over‑month trends were more stable, with rented units dipping just 1% from February, while prices rose 3.8% and days on market improved by two days. The continued rise in achieved‑to‑ask price reinforces that despite softer rental volume, well‑positioned condos are commanding results and moving efficiently. As of April 28th, there are 566 available long-term rentals on O’ahu, up 1.8% from last month.
Long-Term Rentals Year-Over-Year: March 2026 vs. March 2025
- 389 Rented, down 14.8%
- $2,800 Median Rental Price, up 7.7%
- 27 Average Days on Market, no change
- Received 102% of Asking Price vs. 99.8%
Long-Term Rentals Month-Over-Month: March 2026 vs. February 2026
- 389 Rented, down 1.0%
- $2,800 Median Rental Price, up 3.8%
- 27 Average Days on Market, 2 days faster
- Received 102% of Asking Price vs. 99.9%
Oahu Luxury Rental Market Overview
Oʻahu’s luxury long‑term rental market strengthened in March 2026, showing a clear rebound in activity even as pricing held steady. Year‑over‑year, the segment saw a 7.1% increase in rented units, signaling renewed demand at the $4,000‑plus level. Despite this uptick, the median rent dipped 3.7% to $4,500, suggesting that while more high‑end units are moving, tenants may be gravitating toward slightly lower‑priced luxury options or negotiating more effectively. Properties leased eight days faster than last year, averaging just 30 days on market. Properties rented for 99.8% of asking price, unchanged from 2025 and still indicative of firm pricing expectations.
Month‑over‑month momentum was even more pronounced: rented units jumped 15.3% from February, days on market improved dramatically by 13 days, and pricing remained stable. Although the list-to-rent price ratio edged down slightly from 100% to 99.8%, the overall picture points to a luxury rental sector that is moving quickly, attracting steady demand, and maintaining strong negotiation power even without upward pressure on rents. As of April 28th, there are 170 available luxury long-term rentals on O’ahu, up 11.8% from last month.
Luxury Long-Term Rentals ($4,000+/mo) Year-Over-Year: March 2026 vs. March 2025
- 75 Rented, up 7.1%
- $4,500 Median Rental Price, down 3.7%
- 30 Average Days on Market, 8 days faster
- Received 99.8% of Asking Price, no change
Luxury Long-Term Rentals ($4,000+/mo) Month-Over-Month: March 2026 vs. February 2026
- 75 Rented, up 15.3%
- $4,500 Median Rental Price, no change
- 30 Average Days on Market, 13 days faster
- Received 99.8% of Asking Price vs. 100%
Highest Rented Single-Family Home
Hawaii Loa Ridge, Diamond Head
4 bedrooms | 3 bathrooms | 2,984 sq ft living
Why this property is spectacular: This Mediterranean with stucco and bright red Monier tile roof has an appealing layout and open floor plan, truly a gem in this south shore private, gated, luxury Honolulu community. One hundred eighty degree views from Diamond Head almost to Portlock. Two bedrooms and one full bath at entry level, along with the garage, kitchen, office, gazebo, dining/living rooms, and deck. Primary bedroom suite has a floor of its own with walk in closet, while one level down features the pool and basement bedroom with full bath.
Rented for: $8,500/month after 28 days on market.
Source: State Tax Office & Bureau of Conveyances
Highest Rented Condo
Coral Strand, Diamond Head
2 bedrooms | 2 bathrooms | 1,446 sq ft living
Why this property is spectacular: This beautifully furnished condo is perfectly positioned offering gorgeous ocean views and iconic Diamond Head vistas from multiple vantage points. With updated bathrooms, abundant natural light, and two private lanais, this home is a true island paradise. Enjoy the convenience of in-unit laundry, assigned parking, and access to an oceanfront pool. Whether you’re relaxing on the lanai or soaking in the turquoise ocean views from your living room, this oceanfront gem is a rare find!
Rented for: $9,500/month after 104 days on market.
This property was represented by Caron B Realty International.
Source: State Tax Office & Bureau of Conveyances
Your Hawaii Property Management Experts
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
Doug 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.
