The carjacking was reported at 2:11 a.m. in the 800 block of Great Highway.
The victims, a 27-year-old man and 21-year-old woman, were approaching their car when a suspect got out of a vehicle, pulled out a handgun and pointed it at the man, according to police.
The suspect demanded the victim's car and the victim complied, police said.
The suspect then drove off while a second suspect driving a silver, four-door vehicle followed behind. The suspects, described as two men in their 20s, had not been found as of this morning.
The victims were not injured in the robbery.
Anyone with information about the case is encouraged to call the Police Department's anonymous tip line at (415) 575-4444 or send a tip by text message to TIP411.