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Oahu Rental Market Overview
In January, the Oahu rental market saw slight decreases in rental volume and median price year-over-year. Comparatively, there was a large increase in the number of properties rented month-over-month, up over 17%. Properties rented a few days faster in January than both comparison time periods. There is a small increase in the number of available rentals from last month.
The luxury rental market saw a small decrease in the number of rentals compared to January 2024 but an 18% increase in month-over-month rentals. Median price decreased year-over-year and month-over-month. Luxury properties rented much more slowly compared to both time periods, especially month-over-month. As of 2/24, there are 147 luxury properties currently available for long-term rent on Oahu, up 1.3% from November.
Highest Rented Single-Family Home
Beachside, Kailua
3 bedrooms | 2 bathrooms | 1,347 sq ft living
Why this property is spectacular: Tucked away down a private lane, this charming beachside retreat offers the perfect blend of tranquility and convenience. Just 4 houses from your private Kailua Beach access, you can enjoy the beach without the crowds. This home was completely gutted and renovated in 2023. This home has brand new modern finishes and a fresh interior, including a modern open-concept kitchen with espresso bar, new bathrooms, custom closets, new split AC units and all new appliances.
Rented for: $8,300/month after 115 days on market.
Source: State Tax Office & Bureau of Conveyances
Highest Rented Condominium
The Watermark, Waikiki
3 bedrooms | 3.5 bathrooms | 2,198 sq ft living
Why this property is spectacular: “The Watermark” condo is located in the heart of Waikiki and Ala Moana beach, Magic Island, Park, and Shopping center. Resort-style amenities include a recreation deck with a heated pool, outdoor Jacuzzi, Exercise room, Sauna, Barbecue areas, beautiful courtyard, and pond. WiFi in common areas, meeting room, concierge service, and 24 hr security.
Rented for: $8,000/month after 14 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
