Thirty-year-old model Jenner - who has previously dated the likes of Bad Bunny, Ben Simmons and Devin Booker - and Elordi, 28, were recently seen on a tropical getaway in Hawaii but are determined to take things slowly while they decide where they stand with each other.
"They're not trying to turn this into some big public thing. They enjoy spending time together in more private settings," an insider told People.
Jenner has grown fond of the Aussie actor very quickly, but the celebrity duo - who were also spotted together at the first weekend of Coachella - don't want to move too fast.
"They want to keep things low-key while they're figuring things out naturally," the source said.
"Kendall really likes him, though."
Earlier in 2026, Jenner admitted to feeling frustrated by the rumours surrounding her sexuality.
The model denied suggestions she's secretly a lesbian but has been frustrated by how the discussion has been framed.
"Then there's the whole side of the internet that thinks I'm a lesbian," Jenner told the In Your Dreams podcast.
"You want to know what really bothers me? How mean people are about it. It's not with, like, a welcoming arm of like, 'Hey, if you were, yes, come join.' It's not kind. It's very mean. It's very like, 'What the f*** are you doing?'"
Although Jenner isn't a lesbian, she says she wouldn't have any issues being public about her sexuality if she were.
"I understand that coming out is not an easy thing for anybody, if not most people. And I'm not saying that's an easy thing, but knowing, and I can speak for myself here, and knowing myself, I think at this point in my life I'd be out if I was.
"I'm not saying it's an easy thing. I'm just saying that knowing me and knowing how I would want to live my life, I would be. I'd have no problem being that.
"I think that there's this whole narrative that I'm hiding this thing ... I've seen really f***ed up things that are like, 'It's bad for business', and I'm like, 'What? How?' I don't understand it.
"All's to say, as of today, I am not. I don't think I will be, but I'm not closing doors to experiences in life."
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