Interspecific variation in plant hydraulic traits plays a major role in shaping species distributions across climates, yet variation within species is poorly understood. Here we report on intraspecific variation of hydraulic traits in Banksia serrata (L.f.) sampled from three sites characterised by contrasting climates (warm-wet, warm-dry and cool-wet). Hydraulic characteristics including vulnerability to embolism, hydraulic conductance, pressure-volume traits and key morphological traits were measured. Vulnerability to embolism in leaf and stem, defined by the water potential inducing 50 and 88% loss of hydraulic conductivity (P50 and P88 respectively), did not differ across sites. However, plants from the warm-dry environment exhibited higher stem conductivity (Ks) than the cool-wet environment. Leaf turgor loss point (TLP) did not vary among sites, but warm-dry site plants showed lower leaf capacitance (C*FT) and higher modulus of elasticity (ε) than the other two sites. Plants from the cool-wet site had lower specific leaf area (SLA) and plants from the warm-dry site had lower sapwood density (WD). Overall, key hydraulic traits were generally conserved across populations despite differences in mean site water availability, and the safety-efficiency trade-off was absent in this species. These results suggest that B. serrata has limited ability to adjust hydraulic architecture in response to environmental change and thus may be susceptible to climate change-type drought stress.