Rubber plantations are an economically viable land-use type that occupies large swathes of land in Southeast Asia that have undergone conversion from native forest to intensive plantation forestry. Such land-use change has a strong impact on carbon, energy, and water fluxes in ecosystems, and uncertainties exist in the modeling of future land-use change impacts on these fluxes due to the scarcity of measured data and poor representation of key biogeochemical processes. In this current modeling effort, we utilized the Community Land Model Version 5 (CLM5) to simulate a rubber plant functional type (PFT) by comparing the baseline parameter values of tropical evergreen PFT and tropical deciduous PFT with a newly developed rubber PFT (focused on the parameterization and modification of phenology and allocation processes) based on site-level observations of a rubber clone in Indonesia. We found that the baseline tropical evergreen and baseline tropical deciduous functions and parameterizations in CLM5 poorly simulate the leaf area index, carbon dynamics, and water fluxes of rubber plantations. The newly developed rubber PFT and parametrizations (CLM-rubber) showed that daylength could be used as a universal trigger for defoliation and refoliation of rubber plantations. CLM-rubber was able to predict seasonal patterns of latex yield reasonably well, despite highly variable tapping periods across Southeast Asia. Further, model comparisons indicated that CLM-rubber can simulate carbon and energy fluxes similar to the existing rubber model simulations available in the literature. Our modeling results indicate that CLM-rubber can be applied in Southeast Asia to examine variations in carbon and water fluxes for rubber plantations and assess how rubber-related land-use changes in the tropics feedback to climate through carbon and water cycling.