The rental market is holding steady with available rentals; the number of rented units and median price increased over 2022. The number of rentals in the luxury market increased significantly (61%) but took a few days longer to rent.
Rentals Available as of March 21
- 706 Long Term Available, 488 Rented in the Last 30 Days
- 31 Short Term Available, 4 Rented in the Last 30 Days
Long-Term Rentals Information- February 2023 vs. February 2022
- 496 Rented, up 9%
- $2,400 Median Rental Price, up 9%
- 31 Average Days on Market, 6 Days Slower
- Received 99.9% of Rental Price
Luxury ($4,000+/mo) Long-Term Rentals Information – February 2023 vs. February 2022
- 55 Rented, up 61%
- $4,500 Median Rental Price, no change
- 32 Average Days on Market, 5 Days Slower
- Received 100% of Asking Price
Highest Rented Single-Family Home
Kahala, Diamond Head
6 bedrooms | 4.5 bathrooms | 4,883 square feet living
Why this property is spectacular: Beautiful spacious unfurnished home in Kahala! Private, gated entryway leads to 10+ car parking capacity, 3 car garage, and pool with poolside kitchen and bathroom. The interior is beautiful with a stainless-clad gourmet kitchen, large bright open main living spaces with large bedrooms, beautiful bathrooms, and a separate office area.
Rented for: $10,000/month after 2 days on market.
Highest Rented Condo
Hokua, Kaka’ako
2 bedrooms | 2 baths | 1,524 square feet living
Why this property is spectacular: This amazing 2BR/2BA is fully furnished with a king and queen bed, over sized sofa and modern, comfortable furniture throughout. The kitchen boasts top of the line SubZero appliances, Wolf gas range, wine cooler and double dishwasher drawers. Amenities include tennis courts, guest suites, covered BBQ Cabanas, children’s play area, swimming pool, hot tub, party room, fitness center and saunas.
Rented for: $7,300/month after 37 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
