We are waiting to see what will happen with the long-term rental inventory come the end of October when the new law limiting short term rentals changes from 30 to 90 days and longer. It is expected that we will see an increase inventory as the majority of short-term rentals will change to long-term.
The number of rented properties increased overall, and saw a significant jump in the luxury market, compared to the same period last year. Overall, median rental price saw a 13% increase. There are fewer available rentals currently than there were around this time last month.
Rentals Available as of September 22:
- 640 Long Term Available, 586 Rented in the Last 30 Days
- 35 Short Term Available, 10 Rented in the Last 30 Days
- 12 Vacation Available, 0 Rented in the Last 30 Days
Long-Term Rentals Information- Past 30 Days Compared to the Same Time Last Year:
- 576 Rented, up 15.2%
- $2,500 Median Rental Price, up 13.6%
- 25 Average Days on Market, 2 Days Faster
- Received 99.8% of Rental Price
Luxury ($4,000+/mo) Long-Term Rentals Information– Past 30 Days Compared to the Same Time Last Year:
- 62 Rented, up 87.8%
- $4,800 Median Rental Price, down 1%
- 28 Average Days on Market, 3 Days Slower
- Received 99.4% of Asking Price
Highest Rented Single-Family Home
Kailua Estates
5 bedrooms | 4 bathrooms | 2,473 square feet living
Why this property is spectacular: Beautiful and Pristine Canal front 5 bedroom, 4 bathroom single family home with water access to Kailua Beach! Enjoy the huge and spacious backyard overlooking Ka’elepulu Canal and Mid Pacific Golf Course. Large entertainment area with private swimming pool. Live in one of the most highly desired streets and neighborhood in Kailua. Fully furnished house with 2,473 sqft of living space and almost 16,000 sqft of land. House features split and window A/C and PV panels and storage.
Highest Rented Condo
Lilia Waikiki
2 bedrooms | 2 baths | 1,654 square feet living
Why this property is spectacular: Now open, be one of the first to live at Waikiki’s newest rental destination! Lilia Waikiki offers a modern living experience blending elegance and comfort. This stunning 28-story all-rental tower features over 400 residences consisting of studios, 1-BR, 2-BR, 3-BR apartments and penthouses. Penthouse Apt. 2806 features high 15ft. ceilings with floor-to-ceiling windows, an additional den space ideal for an office, and automated window treatments. The kitchen boasts a full-size chef’s kitchen with quartz countertops, Bosch panelized smart appliances, and a modern backsplash. The master bath features illuminated mirrors, dual vanity sinks, a Japanese soaking tub, and private glass shower enclosure. Up to 2 reserved parking spaces available at $250 per month per space. Up to 2 pets per household. 12 – 18 month lease term available, market rent varies by lease term. Amenities include a resort-style pool and spa, a state-of-the-art fitness center, private cabanas for outdoor dining, grilling stations, and a lush sitting garden centered around a historic banyan tree.
Sold at: $9,670/month after 6 days on market.
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
