The number of rented properties is down compared to August 2022, while median price is up slightly. Luxury long-term properties saw a large increase in the number of rentals. We have included statistics comparing August to July to see how the market is moving this year.
Rentals Available as of September 25
- 643 Long Term Available, 502 Rented in the Last 30 Days
- 40 Short Term Available, 2 Rented in the Last 30 Days
Long-Term Rentals Year-Over-Year: August 2023 vs. August 2022
- 611 Rented, down 7.3%
- $2,500 Median Rental Price, up 4.1%
- 28 Average Days on Market, 3 Days Slower
- Received 99.7% of Rental Price vs. 99.8%
Long-Term Rentals Month-Over-Month: August 2023 vs. July 2023
- 611 Rented, no change
- $2,500 Median Rental Price, no change
- 28 Average Days on Market, 1 Day Slower
- Received 99.7% of Rental Price vs. 99.7%
Luxury Long-Term Rentals ($4,000+/mo) Year-Over-Year: August 2023 vs. August 2022
- 73 Rented, up 19.6%
- $4,600 Median Rental Price, down 2.1%
- 47 Average Days on Market, 21 days slower
- Received 99.9% of Asking Price vs. 99.6%
Luxury Long-Term Rentals ($4,000+/mo) Month-Over-Month: August 2023 vs. July 2023
- 73 Rented, up 7.3%
- $4,600 Median Rental Price, up 4.5%
- 47 Average Days on Market, 13 days slower
- Received 99.9% of Asking Price vs. 99.3%
Highest Rented Single-Family Home
Koko Kai, Hawaii Kai
5 bedrooms | 4 bathrooms | 3,958 sq ft living | 15,521 sq ft land
Why this property is spectacular: Enjoy nearly 4,000 square feet of mostly furnished indoor and outdoor living with views of Maunalua Bay all the way to Diamond head from the primary suite. Equipped with a gourmet kitchen along with a large center island and a walk-in pantry, perfect for entertaining.
Rented for: $11,500/month after 48 days on market.
Highest Rented Condominium
Park Lane, Ala Moana
3 bedrooms | 3.5 bathrooms | 2,648 sq ft living
Why this property is spectacular: Exquisitely furnished, stunning chandeliers, spacious layouts, upgraded lighting and surround system throughout are a few of the fine details that you will appreciate. Fully equipped kitchen boasts gourmet Subzero/Wolf appliances including a wine refrigerator for over 100+ bottles, refrigerated drawers, built-in coffeemaker and more. This impressive home has its own private garage, swimming pool, hot tub, yard and covered lanai. Indulge in the luxurious lifestyle at Park Lane Ala Moana.
Rented for: $25,000/month after 144 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
