We study the black hole mass–host galaxy stellar mass relation, M BH–M *, of a sample of z < 4 optically variable active galactic nuclei (AGNs) in the COSMOS field. The parent sample of 491 COSMOS AGNs were identified by optical variability from the Hyper Suprime-Cam Subaru Strategic Program (HSC-SSP) program. Using publicly available catalogs and spectra, we consolidate their spectroscopic redshifts and estimate virial black hole masses using broad-line widths and luminosities. We show that variability searches with deep, high-precision photometry like the HSC-SSP can identity AGNs in low-mass galaxies up to z ∼ 1. However, their black holes are more massive given their host galaxy stellar masses than predicted by the local relation for active galaxies. We report that z ∼ 0.5–4 variability-selected AGNs are meanwhile more consistent with the M BH–M * relation for local inactive early-type galaxies. This result is in agreement with most previous studies of the M BH–M * relation at similar redshifts and indicates that AGNs selected from variability are not intrinsically different from the broad-line Type 1 AGN population at similar luminosities. Our results demonstrate the need for robust black hole and stellar mass estimates for intermediate-mass black hole candidates in low-mass galaxies at similar redshifts to anchor this scaling relation. Assuming that these results do not reflect a selection bias, they appear to be consistent with self-regulated feedback models wherein the central black hole and stars in galaxies grow in tandem.