Precipitation extremes will likely intensify under climate change. However, much uncertainty surrounds intensification of high-magnitude events that are often inadequately resolved by global climate models. In this analysis, we develop a framework involving targeted dynamical downscaling of historical and future extreme precipitation events produced by a large ensemble of a global climate model. This framework is applied to extreme “atmospheric river” storms in California. We find a substantial (10 to 40%) increase in total accumulated precipitation, with the largest relative increases in valleys and mountain lee-side areas. We also report even higher and more spatially uniform increases in hourly maximum precipitation intensity, which exceed Clausius-Clapeyron expectations. Up to 85% of this increase arises from thermodynamically driven increases in water vapor, with a smaller contribution by increased zonal wind strength. These findings imply substantial challenges for water and flood management in California, given future increases in intense atmospheric river-induced precipitation extremes.