Get the latest update on the Oahu rental market with rental statistics and the highest rentals from the last month. Contact us to learn about our Hawaii property management services.
Oahu property rentals decreased in February, compared to January and February 2024, though they rented more quickly than both time periods. Median rental price increased year-over-year but decreased slightly from February. The number of active properties is up 6% from last month.
In the luxury rental market, there was a notable decrease in the number of properties rentals, especially compared to last month. However, properties rented faster than both last month and this time last year.
Long-Term Rentals Year-Over-Year: February 2024 vs. February 2023
- 401 Rented, down 19.4%
- $2,600 Median Rental Price, up 8.3%
- 28 Average Days on Market, 2 days faster
- Received 99.7% of Asking Price vs 99.9%
Long-Term Rentals Month-Over-Month: February 2024 vs.January 2024
- 401 Rented, down 9.9%
- $2,600 Median Rental Price, down 1.8%
- 28 Average Days on Market, 5 days faster
- Received 99.7% of Asking Price, no change
Luxury Long-Term Rentals ($4,000+/mo) Year-Over-Year: February 2024 vs. February 2023
- 46 Rented, 17.8%
- $4,500 Median Rental Price, no change
- 32 Average Days on Market, 3 days slower
- Received 99.1% of Asking Price vs. 100%
Luxury Long-Term Rentals ($4,000+/mo) Month-Over-Month: February 2024 vs.January 2024
- 46 Rented, down 27%
- $4,500 Median Rental Price, no change
- 32 Average Days on Market, 15 days faster
- Received 99.1% of Asking Price vs. 99.9%
Highest Rented Single-Family Home
Kahala, Diamond Head
5 bedrooms | 4.5 bathrooms | 3,000 SF living | 10,977 SF land
Why this property is spectacular: Fully Furnished single level Kahala home designed for indoor/outdoor living in a lush tropical setting. A back yard with lanai alongside a pool and jacuzzi., perfect for relaxing, dining or entertaining. The home has 5 bedrooms plus a small office and large storage / wet room with surfboard racks, laundry room and expansive open living/dining room.
Rented for: $$11,000/month after 49 days on market.
Source: State Tax Office & Bureau of Conveyances
Picture from Honolulu Board of Realtors
Highest Rented Condominium
Symphony Honolulu, Kaka’ako
3 bedrooms | 2 bathrooms | 1,520 SF living
Why this property is spectacular: A gorgeous corner unit in 34th floor, with incredible ocean, sunset and downtown views! Modern finishes include Studio Becker cabinets, engineered wood floors and quartz countertops. Perfect for those that love to cook and entertain with a 12′ island, double pantry and lots of cabinet space. Enjoy resort like amenities such as private movie theater, state-of the art-art fitness center with yoga studio, infinity-edge pool and many more!
Rented for: $6,550/month after 153 days on market.
Source: State Tax Office & Bureau of Conveyances
Picture from Honolulu Board of Realtors
We management 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
