An iterative algorithm for the numerical solution of the Helmholtz problem is considered. It is difficult to solve the problem numerically, in particular, when the imaginary part of the wave number is zero or small. We develop a parallel iterative algorithm based on a rational iteration and a nonoverlapping domain decomposition method for such a non-Hermitian, non-coercive problem. Algorithm parameters (artificial damping and relaxation) are introduced to accelerate the convergence speed of the iteration. Convergence analysis and effective strategies for finding efficient algorithm parameters are presented. Numerical results carried out on an nCUBE2 are given to show the efficiency of the algorithm. To reduce the boundary reflection, we employ a hybrid absorbing boundary condition (ABC) which combines the first-order ABC and the physical $Q$ ABC. Computational results comparing the hybrid ABC with non-hybrid ones are presented.