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Rental Market Overview
The number of Oahu property rentals increased in April compared to both March and April of last year. Median price increased as well, up 4% for both time periods. Properties rented in the same amount of time, on average, as April 2023 but slightly slower than last month. The number of available rentals is up 2.8% from last month.
The luxury market, also saw increases in the number of rentals compared to March and April of last year. Median price was down compared to April 2023 but the same as last month. Properties rented slightly slower in April compared to both time periods. There are 138 luxury properties available for rental on Oahu.
Rental Market Statistics
Long-Term Rentals Year-Over-Year: April 2024 vs. April 2023
- 484 Rented, up 2.7%
- $2,600 Median Rental Price, up 4%
- 29 Average Days on Market, no change
- Received 101% of Asking Price vs 99.8%
Long-Term Rentals Month-Over-Month: April 2024 vs. March 2024
- 484 Rented, up 12.3%
- $2,600 Median Rental Price, up 4%
- 29 Average Days on Market, 4 days slower
- Received 101% of Asking Price vs 99.8%
Luxury Long-Term Rentals ($4,000+/mo) Year-Over-Year: April 2024 vs. April 2023
- 74 Rented, up 21.3%
- $4,500 Median Rental Price, down 6.25%
- 31 Average Days on Market, 3 days slower
- Received 99.8% of Asking Price vs. 100%
Luxury Long-Term Rentals ($4,000+/mo) Month-Over-Month: April 2024 vs.March 2024
- 74 Rented, up 21.6%
- $4,500 Median Rental Price, no change
- 31 Average Days on Market, 1 day slower
- Received 99.8% of Asking Price vs. 99.5%
Highest Rented Single-Family Home
Kahala, Diamond Head
3 bedrooms | 3 bathrooms | 2,313 sq ft living | 6,799 sq ft land
Why this property is spectacular: Rarely available Royal Circle property for rent! Royal Circle, named for being historic grounds where the Hawaiian Royalty resided is like an oasis of relaxation tucked away between Kahala and Black Point. This small, gated community enjoys its own secluded gorgeous beach that will take your breath away. The lanai is perfect for entertaining or relaxing and dining by your pool. Fully furnished with outfitted kitchen, cookware, and linens. Large dining and entertaining areas!
Rented for: $15,000/month after 87 days on market.
Source: State Tax Office & Bureau of Conveyances
Picture from Honolulu Board of Realtors
Highest Rented Condo
Hokua, Kaka’ako
2 bedrooms | 2 bathrooms | 1,981 sq ft living
Why this property is spectacular: This condo is located in Honolulu’s most established, premier luxury development. Just one block from Ala Moana Center, Ward Village and directly across from Ala Moana Beach Park. Features unobstructed ocean views with 180-degree panoramic vista from Diamond Head to Waianae coast. Beautifully upgraded with designer furnishings including Martin & MacArthur built-ins, upgraded closet systems and motorized shades.
Rented for: $8,200/month after 8 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
