Amending soils with biochar, a pyrolyzed organic material, is an emerging practice to potentially increase plant available water and reduce the risks associated with climatic variability in traditionally‐rainfed tropical agricultural systems. To investigate the impacts of biochar amendment on soil water storage relative to non‐amended soils, we performed an upland rice field experiment in a tropical seasonally dry region of Costa Rica consisting of plots with two different biochar amendments and a control plot. Across all plots, we collected hydrometric and isotopic data (δ18O and δ2H of rain, mobile soil, ground and rice xylem water). We observed that the soil water retention curves for biochar treated soils shifted, indicating that rice plants had 2% to 7% more water available throughout the growing season relative to the control plots and thus could withstand dry spells up to seven extra days. Furthermore, the isotopic composition of plant water in biochar and control treatments were rather similar, indicating that rice plants in different treatments likely consumed similar water. Hence, we observed that biochar amendments can stabilize water supplies for the rice plants; however, still supplemental irrigation was required to facilitate plant growth during extended dry periods. Ultimately, our findings indicate, that biochar amendments can complement, but not necessarily replace, other water management strategies to help reduce the threat of rainfall variability to rainfed agriculture in tropical regions.