Prostate cancer can be detected using a multi-component T2 mapping technique termed luminal water imaging (LWI). The purpose of our study is: i) to accelerate the LWI acquisition by using inner volume selection (IVS) in GRASE and ii) to assess the accuracy of estimated T2 values and fractions. Simulations, phantom and in-vivo prostate experiments were performed. Results show that the estimated parameters should be interpreted with caution in noisy scenarios and at low fractions of the long T2 component. Results demonstrate that GRASE with IVS is effective for accelerating prostate LWI by at least a factor of three.