The rental market is appearing to stabilize; there are 750 rentals available each month. Compared to the same period last year, the median price of rental properties increased slightly. The number of rentals increased marginally overall, but significantly (42%) in the luxury market.
Rentals Available as of February 23
- 718 Long Term Available, 540 Rented in the Last 30 Days
- 28 Short Term Available, 3 Rented in the Last 30 Days
- 13 Vacation Available, 0 Rented in the Last 30 Days
Long-Term Rentals Information- January 2023 vs. January 2022
- 513 Rented, up 7%
- $2,400 Median Rental Price, up 2%
- 31 Average Days on Market, 3 Days Slower
- Received 99.9% of Rental Price
Luxury ($4,000+/mo) Long-Term Rentals Information– January 2023 vs. January 2022
- 53 Rented, up 42%
- $4,900 Median Rental Price, up 8.9%
- 33 Average Days on Market, 6 Days Slower
- Received 100.1% of Asking Price
Highest Rented Single-Family Home
Coconut Ave, Diamond Head
4 bedrooms | 3 full bathrooms | 2 half baths | 2,793 square feet living
Why this property is spectacular: Custom built Diamond Head Terrace home, just a block away from Makalei Beach! This fully furnished home features high ceilings, 2 ensuite bedrooms, split air conditioning, a den, covered lanai, and enclosed garage. There’s also exterior and interior showers perfect for the beach life! The property is fully gated with automatic entry gates, ample parking for 4+ vehicles and a great backyard for gatherings. Rent includes yard service.
Rented for: $12,500/month after 82 days on market.
Highest Rented Condo
The Watermark, Waikiki
3 bedrooms | 3 baths | 2,199 square feet living
Why this property is spectacular: Behold luxury, Class and Convenience in Waikiki. Serene ocean, city, park, mountain, sunset views from floor to ceiling windows and open, breezy lanai. Located in the quiet part of Waikiki where traffic is minimal. Great amenities- 24 hr. security, gym, BBQ, park, heated pool and more! Fully furnishes, granite counters, Viking appliances.
Rented for: $8,000/month after 79 days on market.
Source: State Tax Office & Bureau of Conveyances
Picture from Honolulu Board of Realtors
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
