Oahu

As of May 2026, Honolulu, Waikiki, Kailua, North Shore have 7,104 active Airbnb and VRBO listings. This represents a 13% decrease from the previous year.

The average Airbnb or VRBO in Oahu generates $72K per year. High-performing properties earn $171K/year, while low-performing properties earn $23K/year. The massive earnings spread suggests that while market revenue is contracting, top-tier assets maintain significant pricing power despite broader supply fluctuations.

Average home prices in Oahu vary by property size: 1-bedroom properties cost approximately $413K, 2-bedroom homes average $615K, 3-bedroom properties are around $1.0M, and 4+ bedroom homes average $1.2M. These prices reflect median home values across the Honolulu, Waikiki, Kailua, North Shore area.

Airbnb and VRBO can be profitable in Oahu, with an average gross yield of 7% across all properties. High-performing properties achieve yields up to 18%, which is considered top for short-term rental investment. This wide yield variance indicates that profitability is heavily skewed toward assets capturing premium demand segments.

The average occupancy rate for Airbnbs and VRBOs in Oahu is 48%. This occupancy level, combined with an average nightly rate of $374, results in a RevPAR (revenue per available room) of $131 per day.

2-bedroom properties demonstrate the strongest performance in Oahu, with an average gross yield of 15% and annual revenue of $100K. These properties balance purchase price ($615K), operating costs, and rental demand most effectively in the Oahu market.

Short-term rental regulations vary by jurisdiction in the Oahu area. Honolulu (outside Waikiki): Strict. Permits frozen since 1989, only ~800 legal. Owner-occupancy required for bed & breakfasts. Active enforcement with $10,000+ fines, platform data sharing. Waikiki: Moderate. Resort zone allows vacation rentals in designated buildings. Registration required. Moderate enforcement, mostly complaint-driven. Kailua: Strict. Part of Honolulu county freeze. Virtually no legal short-term rentals. Active enforcement, high fines, community reporting. North Shore: Strict. Honolulu county rules apply. Permit freeze, heavy restrictions. Strong enforcement due to community pressure, illegal operations persist but risky. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Oahu Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 13% year-over-year, while RevPAR has decreased 7%. This indicates balanced supply-demand dynamics. The synchronized contraction in both inventory and revenue suggests a market finding a new equilibrium rather than an aggressive correction.

Launch around December, 2-3 months before peak winter season (March peaks). This pre-peak timing lets you build reviews when competition is -11% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (June-September) when gaining traction is harder.

The most common amenities in Oahu listings include: Air Conditioning (98%), Kitchen (87%), Elevator (72%), Washing Machine (71%), Tv (69%). Amenities that boost revenue the most include Heating, Hot Tub, Air Conditioning, with Heating properties earning approximately 38% more ($131K/year vs $95K/year).

Monthly estimated revenue per listing in Oahu over the last 12 months: May: $3K, June: $3K, July: $4K, August: $4K, September: $3K, October: $4K, November: $3K, December: $5K, January: $4K, February: $4K, March: $5K, April: $5K. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Oahu is $374, up 14% year-over-year. By property size: 1-bedroom properties average $278/night, 2-bedroom properties average $622/night, 3-bedroom properties average $950/night, 4+ bedroom properties average $1K/night. Rates peak in December and are lowest in May.

Guests in Oahu book an average of 45 days in advance, down 18% from last year. By property size: 1-bedroom: 44 days, 2-bedroom: 52 days, 3-bedroom: 59 days, 4+ bedroom: 62 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Oahu Airbnb and VRBO market has seen the following changes: supply declined 13%, revenue per listing decreased 7%, occupancy fell 6%, average nightly rates increased 14%, and lead time decreased 18%. These metrics reveal a shift toward shorter booking windows and higher pricing, reflecting changing consumer behavior.

In Oahu, Friday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Friday and are lowest on Sunday. Weekends show 8% higher occupancy than weekdays.