Can I do rental arbitrage in Honolulu?

Only in a building that is exempt from the 90-day minimum, such as a resort-zoned building or a property with a nonconforming use certificate. Most leased apartments aren't.

What rent can a Honolulu unit carry?

For a unit in an exempt building, about $4,500 a month keeps a 20% margin and about $5,940 breaks even at market averages.

The 10.25% transient accommodations tax, plus general excise tax of 4% and a 0.5% county surcharge.

Rental Arbitrage in Honolulu, HI

Researched by RentalArbitrage AdminData as of: September 2026

Restricted

Severely restricted. Honolulu allows short-term rentals only in resort-zoned areas, specific apartment-zone areas, and grandfathered properties with Nonconforming Use Certificates (NUCs). Most leased apartments in residential areas cannot be rented for short stays. Registered bed and breakfasts and transient vacation units are the only legal short-stay options in non-resort areas. Registration became available October 24, 2022, with no deadline. A December 2023 federal court ruling prevents enforcement of the 90-day minimum for existing 30–89 day rentals, but the policy may change. Read the rules and sources.

Average daily rate: $291.60
Occupancy: 74%
Annual revenue potential: $66,200

Source: AirDNA Figures for the Oahu market, trailing 12 months, as of September 2026. Markets are metro areas, not city limits.

Short-Term Arbitrage Isn't an Option Here

Only owners can get a short-term rental license in Honolulu, HI, so leasing a unit to rent it out to guests isn't possible. That is why this page shows no rent ceiling or short-term calculator. If the lease and building allow furnished stays of 30 days or more, try the mid-term rental calculator.

The Honolulu, HI Market

AirDNA's Oahu market averaged a $291.60 daily rate at 74% occupancy over the last 12 months, about 22.5 booked nights and $7,200 of booking income a month for an average listing. The market covers the whole island, and Waikiki resort listings lift the average.
Honolulu requires a 90-day minimum stay in residential areas, with exceptions for resort-zoned properties, nonconforming use certificate properties, registered bed and breakfasts and transient vacation units. A leased apartment outside those buildings can't be rented for short stays. The figures below only apply to a unit in an exempt building, which depends on the exact building.

What a Unit Can Earn

At the market averages, a unit breaks even at about $5,940 a month in rent and keeps a 20% margin at about $4,500. That only applies to a unit in a building that is legally exempt from the 90-day minimum.

Risks to Weigh

Short stays under 90 days are only legal in exempt properties
Reported fines of $5,000, potentially $10,000 a day, for advertising short stays
The rule has been challenged in court before and may change
The 10.25% transient accommodations tax plus general excise tax

Frequently Asked Questions

Can I Do Rental Arbitrage in Honolulu?: Only in a building that is exempt from the 90-day minimum, such as a resort-zoned building or a property with a nonconforming use certificate. Most leased apartments aren't.
What Rent Can a Honolulu Unit Carry?: For a unit in an exempt building, about $4,500 a month keeps a 20% margin and about $5,940 breaks even at market averages.
How Much Does an Average Oahu Short-Term Rental Earn?: AirDNA's Oahu market averaged a $291.60 daily rate at 74% occupancy over the last 12 months, with annual revenue of about $66,200.
Which Properties Can Host Short Stays?: Resort-zoned properties, nonconforming use certificate properties, registered bed and breakfasts and transient vacation units.
What Taxes Apply?: The 10.25% transient accommodations tax, plus general excise tax of 4% and a 0.5% county surcharge.