Published by Hardy Real Estate Group | June 2026 | Los Sueños, Jaco, Manuel Antonio, Costa Rica
Estimated read time: 6 minutes | Category: Investment, Vacation Rental, Buyer’s Guide
The pitch is familiar to anyone who has looked at coastal real estate in Central America: buy the condo, rent it out when you are not there, let the ocean pay the mortgage. But the reality of short-term rental income is considerably more nuanced than the pitch suggests, and most international buyers do not have a framework for evaluating whether a specific property in a specific destination will actually perform.
Hardy Real Estate Group, which operates both a real estate brokerage and HRG Vacations, a full-service vacation rental management division, has real data from real properties in Los Sueños, Herradura, Jaco, and the broader Central Pacific corridor. The goal here is not to oversell the income case. It is to give you the information you need to evaluate it honestly.
The short answer is yes, short-term rental investment in Costa Rica can generate meaningful income, but location, property type, management quality, and realistic occupancy assumptions matter enormously.
Why Costa Rica Is a Structurally Strong Short-Term Rental Market
Tourism is one of Costa Rica’s primary economic engines, and visitor numbers have grown consistently over the past decade. The country received over three million international arrivals annually in recent pre-pandemic years, a figure that has rebounded and continued climbing as global travel normalized. Importantly for investors, Costa Rica’s draw is not concentrated in a single season. Travelers arrive year-round for surfing, sportfishing, wildlife, wellness, and beach travel, which means rental demand is distributed across more of the calendar than in markets with a single, compressed peak season.
Costa Rica has also matured as a destination in a way that supports premium pricing. The international visitor profile trends toward higher-income travelers who are specifically seeking quality accommodation rather than the budget hostel segment. At the luxury end, Los Sueños in particular draws a consistent sportfishing and affluent vacation travel demographic that supports higher nightly rates and repeat guests.
What Drives Rental Performance at Los Sueños Specifically
Los Sueños Resort has several structural characteristics that make it a high-performing short-term rental environment compared to other coastal markets. The marina is the most important driver. The resort hosts major international sportfishing tournaments throughout the year, which brings concentrated blocks of high-spending visitors who specifically seek accommodation within the gates. A well-positioned condo or villa at Los Sueños during a tournament weekend commands nightly rates that can be two to three times the off-peak baseline.
The resort’s security infrastructure is a secondary but meaningful driver. Travelers paying premium nightly rates increasingly require a gated, managed environment for peace of mind, and Los Sueños delivers that credential in a way that standalone beachfront properties along the same coast cannot.
Realistic Occupancy and Revenue Ranges to Expect
Occupancy projections vary significantly by property type, management quality, and pricing strategy, so any specific number should be verified against current market data. That said, a professionally managed two-bedroom condo within Los Sueños Resort with strong reviews and consistent availability can realistically target 55 to 70 percent annual occupancy in a well-run rental program. Three-bedroom and larger units targeting the sportfishing and group travel segment may see lower raw occupancy but higher revenue-per-night, particularly during peak periods.
The critical variable is management. Properties managed through an established, locally present vacation rental team with direct booking relationships consistently outperform properties listed only on third-party platforms and left to self-manage. HRG Vacations maintains an active guest network, local operations, and the kind of on-the-ground responsiveness that drives the repeat bookings and five-star reviews that fuel long-term rental performance.
Manuel Antonio and Jacó as Complementary Investment Markets
While Los Sueños is the flagship luxury rental market on the Central Pacific, both Manuel Antonio and Jacó offer compelling cases depending on the buyer’s investment profile. Manuel Antonio is Costa Rica’s most internationally recognized national park destination, which generates consistent year-round traveler demand with a strong mix of couples, nature travelers, and international visitors. Ocean-view villas and boutique-style properties with infinity pools perform particularly well here.
Jacó offers a higher-volume, more accessible market with stronger local and regional visitor traffic. It is not the luxury play that Los Sueños or Manuel Antonio represent, but for buyers seeking a lower entry point with meaningful rental demand, particularly surf travel and domestic Costa Rican vacation traffic, it is a credible option worth exploring.
The Costs That Eat Into Rental Income
A clear-eyed investment evaluation has to account for the costs on the other side of the revenue line. For a property in Los Sueños, the relevant ongoing costs include the resort HOA fee, property taxes (0.25 percent of registered value annually), property insurance, utilities, and vacation rental management fees. Typical management fee structures range from 20 to 30 percent of gross rental revenue for full-service programs that handle booking, guest communication, cleaning, maintenance, and owner reporting.
After factoring in management fees and carrying costs, a well-performing two-bedroom unit at Los Sueños might generate a net yield in the 4 to 7 percent range on purchase price in a good operating year, though this varies materially based on purchase price, specific location within the resort, and rental program performance. Hardy Real Estate Group and HRG Vacations can provide property-specific projections based on comparable unit performance.
How to Structure the Purchase to Maximize Rental Returns
Buyers focused on rental income optimization should approach the acquisition with a few strategic priorities. First, prioritize view orientation and unit size: ocean or marina-facing units consistently command higher rates than interior or garden-view properties at the same price point. Second, evaluate the HOA’s rental policy: some communities within Los Sueños have restrictions on short-term rental frequency or minimum stay requirements that directly affect revenue potential. Reviewing HOA documents during due diligence is non-negotiable.
Third, select a property management partner before closing, not after. The management relationship has a direct and measurable impact on rental performance, and choosing an operator who is already active and successful within the specific resort or community you are purchasing in will accelerate your income ramp-up from day one.
Frequently Asked Questions: Short-Term Rental Investment in Costa Rica
How much can I make renting out a condo at Los Sueños?
Rental income depends on unit size, view orientation, pricing strategy, and management quality, but a professionally managed two-bedroom condo with ocean or marina views can realistically generate gross annual rental revenue ranging from $25,000 to $55,000 or more in a strong occupancy year. Net income after management fees, HOA, insurance, and operating costs varies by property. HRG Vacations can provide performance estimates based on comparable properties currently under management.
Is Costa Rica vacation rental income taxable?
Yes. Rental income generated in Costa Rica is subject to Costa Rican income tax regulations. Foreign investors earning rental income through a Costa Rican corporation are required to file annual returns and pay applicable taxes. Consulting with a local accountant or tax attorney who specializes in foreign investor structures is advisable before beginning rental operations. Costa Rican tax rates and structures are generally considered favorable compared to many North American markets.
Do I need to be in Costa Rica to manage a rental property there?
No. The entire short-term rental operation can be handled remotely through a full-service property management company. HRG Vacations manages the booking, guest communication, arrival coordination, cleaning, maintenance, and owner reporting for properties at Los Sueños and the surrounding area. Owners receive regular statements and have visibility into occupancy and revenue remotely. Many HRG Vacations clients own properties they visit two to four times per year and earn rental income the rest of the time.
What is the best property type for short-term rental income in Costa Rica?
For the highest rental yield on a relative basis, well-positioned two and three-bedroom condos within established resort communities like Los Sueños tend to offer the best combination of purchase price, rental demand, and management scalability. Larger villas can command higher nightly rates but typically require longer stays to generate comparable revenue, and vacancy periods are more costly. HRG can model specific properties against your goals.
How Hardy Real Estate Group and HRG Vacations Help Investors Perform
Hardy Real Estate Group is uniquely positioned to help rental-income buyers because the brokerage and the management division operate in the same markets simultaneously. When you purchase through HRG, you are working with a team that knows the rental performance of comparable units in the same buildings and communities, and that has the operational infrastructure to activate your property’s income from the first booking.
Contact Hardy Real Estate Group: hardygrouprealestate.com | laura@hrgcr.com | WhatsApp: +506.8827.2257