Get the latest update on the Oahu rental market with rental statistics and the highest rentals from the last month. Click here to learn about our Hawaii property management services. Contact us to schedule a consultation to learn how we can increase the return on your rental portfolio. Subscribe to our YouTube channel to see Doug answer common property management questions, featured rental properties, and real estate sales content.
Oahu Rental Market Overview
The Oahu rental market saw a significant decrease in rental volume in November. The number of properties rented decreased both year-over-year and month-over-month. Median rental price increased from November 2023 but showed no change from last month. Properties rented a few days faster than in October. The number of available rentals is about 4% lower than in October.
The luxury rental market saw a similar decrease in rentals month-over-month, but November 2024 rental volume was about 2% higher than November 2023. Median price decreased year-over-year but stayed the same as it has been for the past several months. Luxury properties rented more quickly compared to both time periods. There are 139 luxury properties currently available for long-term rent on Oahu, up 10.3% from October.
Highest Rented Single-Family Home
Beachside, Kailua
2 bedrooms | 2 bathrooms | 1,460 sf living
Why this property is spectacular: This stunning single-family home is located on the gorgeous stretch of Kailua Beach nestled down a private lane is full of charm. The quintessential sea-side retreat has been completely renovated with impeccable craftsmanship, stone flooring throughout, gorgeous hardwood cabinetry, doors and closet systems, vaulted ceilings, split ACs in every room and ceiling fans will keep you cool throughout the summer. The well designed kitchen and living room boasts large picture windows that provide superb ocean views, topped off with stainless steel Wolf and Subzero appliances, gas range, dining nook and open concept floorplan.
Rented for: $13,000/month after 56 days on market.
Source: State Tax Office & Bureau of Conveyances
Highest Rented Condominium
Waiea, Kaka’ako
3 bedrooms | 3.5 bathrooms | 2,801 sf living
Why this property is spectacular: Experience Hawaii’s iconic and breathtaking ocean views, Waikiki, and Diamond Head as you come home to this exquisite corner oceanfront unit, accessed through your private 217 sq. ft. foyer. This spacious, unfurnished 2,801 sq. ft. Waiea residence features 3 bedrooms and 3.5 bathrooms, offering the pinnacle of contemporary coastal luxury and privacy. The residence is equipped with Miele appliances, an upgraded oversized wine cooler, a spacious walk-in pantry, and motorized blackout shades in all bedrooms.
Rented for: $16,000/month after 31 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
