In rubber plantations, understory coverage is often disrupted by human activities, which increases the risk of soil erosion under intense rainfall typical of tropical islands. Evaluating the effectiveness of soil and water conservation measures (SWCMs) is crucial for effectively conserving subcanopy resources. This study focused on Hainan Island’s rubber plantations, where nine different SWCMs were implemented, and the runoff and sediment yield were monitored during the rainy season using runoff plots. Through correlation analysis, we identified the primary rainfall characteristic factors leading to soil and water loss on rubber plantation slopes. Path analysis was then used to quantify the impacts of these characteristic factors. The results showed that the SWCMs were significantly more effective in erosion reduction (68.55%) than in runoff reduction (58.95%). Of all the measures, comprehensive SWCMs proved most effective in controlling runoff (71.34%), followed by engineering SWCMs (62.03%) and biological SWCMs (43.51%). Comprehensive SWCMs were also found to be effective in erosion reduction, with a rate of 77.84%, surpassing engineering and biological SWCMs by 7.23% and 20.66%, respectively. Notably, the combination of narrow terraces, contour trenches, and grass planting was the most effective, achieving runoff-reduction rates of 80.94% and erosion-reduction rates of 85.27%. This combination is recommended as a primary prevention method. Rainfall and maximum 30-min intensity (I30) were identified as key variables affecting the efficacy of SWCMs, with rainfall positively correlating with runoff yield and I30 being more closely linked to sediment production. This study provides valuable insights for developing erosion control strategies for sloping garden lands in similar regions and lays theoretical foundations for future ecological restoration projects.