Pete Davidson drops $31K on matching Rolex watches for him and girlfriend Elsie Hewitt

Time is money.

Pete Davidson dropped nearly $31,000 on matching Rolex watches for him and girlfriend Elsie Hewitt, a source exclusively told Page Six Style.

The “King of Staten Island” star made the pricey timepiece purchase while attending the grand opening of the Gerald Peters Watch & Jewelry showroom in his native Staten Island, NY Friday.

We’re told Davidson, who was joined by Hewitt for the event, treated himself to a new Rolex Datejust 41 in Oystersteel and Everose Gold, which retails for a jaw-dropping $18,550.

Our source said that Davidson then “surprised” Hewitt with the matching petite version of the style: a gorgeous $12,400 Rolex Datejust 31 mm, also in Oystersteel and Everose Gold.

Both wristwatches were designed with the Swiss brand’s proprietary 18-karat pink gold alloy, though Davidson’s was fitted with diamond hour markers for some extra bling.

We’re told the former “Saturday Night Live” star rolled up to the glitzy opening early so he could make the acquisition and get a private tour of the 6,000-square-foot showroom.

“Pete was in an awesome mood, cracking jokes, chatting watches, and taking photos with friends,” a spy tells us.

One attendee noted that Davidson “couldn’t have been sweeter.”

“He took pictures with people and he was proud of the store and kept talking about how much he loves supporting Staten Island,” the event guest added.

We’re told Davidson was the first customer to purchase a watch from the new showroom.

The stand-up comedian is clearly a fan of coordinating his style with Hewitt’s ensembles. Last month, they matched in black-and-white Nike Air Jordan 4 Retro OG sneakers.

They also twinned in leather jackets and Doc Martens boots during a courtside date night at Madison Square Garden.

Page Six exclusively revealed in March that Davidson, 31, and the model, 29, were in a relationship.

A source at the time told us that Hewitt — who previously dated Ryan Philippe, Benny Blanco and Jason Sudeikis — was “very different from anybody else he’s ever dated before,” adding that Hewitt “respects Pete and his desire for privacy.”