In this work, the solubility of water in several tetradecyltrihexylphosphonium-based ionic liquids at 298.15 K, and densities and viscosities of both pure and water-saturated ionic liquids in a broad temperature range were measured. The selected ionic liquids comprise the common tetradecyltrihexylphosphonium cation combined with the following anions: bromide, chloride, bis(trifluoromethylsulfonyl)imide, decanoate, methanesulfonate, dicyanamide and bis(2,4,4-trimethylpentyl)phosphinate. The isobaric thermal expansion coefficients for pure and water-saturated ionic liquids were determined based on the density dependence with temperature. Taking into account that the excess molar volumes of the current hydrophobic water-saturated ionic liquids are negligible, the solubility of water was additionally estimated from the gathered density data and compared with the experimental solubilities obtained. Moreover, the experimental densities were compared with those predicted by the Gardas and Coutinho model while viscosity data were correlated using the Vogel–Tammann–Fulcher method.