Men often perceive greater sexual willingness underlying women’s behaviors than women themselves intend. This discrepancy can contribute to sexual miscommunication and, sometimes, acts of sexual assault. The current study tested whether actor–observer asymmetry is present in women’s ratings of sexual intent to offer an additional explanation for past findings. We hypothesized that women rating their own behaviors would report less sexual intent compared to women rating another woman’s behaviors. We also hypothesized that these ratings would be influenced by the physical attractiveness of a male target through self-reported sexual arousal as a mediation pathway. Results from a community sample of 164 women (Mage = 42 years) generally supported these hypotheses. Sexual arousal was positively associated with ratings among all participants, but the mediation pathway was significant only for women rating another woman’s behavior. The findings suggested that actor–observer asymmetry is present in ratings of sexual intent. This effect might account for some of the sexual overperception phenomena and explain why third-party observers of women’s sexual behavior (e.g., potential partners, Title IX investigators, jurors) sometimes misinterpret sexual willingness.