Folau, who earns more than A$1 million (NZ$1.1m) annually on his ARU contract, was set to join Japan's cashed up Panasonic Wild Knights team under former Wallabies coach Robbie Deans as part of a clause in his deal, according to the Daily Telegraph.
"We're both just having time off, we haven't figured out a wedding date yet, but it's pretty hard at the moment because of our seasons," Folau told the Daily Telegraph.
"We're not in a rush to get things done, we're just really trying to enjoy our time together because we don't get a lot of that together."