Several hundred tourists including at least 311 Thais had become stranded on the mountain due to a large landslide triggered by Sunday's 6.4 magnitude quake which killed at least 14 people, including a Malaysian hiker.
Early estimates indicated more than 1,000 homes had been damaged or destroyed by the natural disaster.
The Department of Foreign Affairs says at this stage no Australians are known to have been killed by the quake.
Indonesia's meteorology and geophysics agency has recorded more than 270 aftershocks. Hikers were also able to start descending the mountain after guides discovered an alternate route that was unaffected by the landslides.
Authorities said more than 500 people, mostly foreign tourists, have already come down from the mountain but 266 are still trapped up there.More news: Rick Gates, testifying in Manafort trial, admits to affair, London apartment
"543 hikers have been evacuated - they arrived last night", national disaster agency spokesman Sutopo Purwo Nugroho told the Agence France Presse.
The two women ended up stuck on the mountain overnight, unable to get down the mountain until yesterday, as numerous trails and bridges had been destroyed.
Challenging conditions, including more than 120 powerful aftershocks, meant numerous hikers were unlikely to reach the bottom...
Some 160 people were injured in Lombok as a result of the quake, said Mohammad Rum, head of West Nusa Tenggara disaster agency. I felt paralysed and stopped moving.
He said the Malaysian government was ready to provide further aid to their Indonesian counterparts as necessary.More news: How To Use Alexa's Answer Update
Those whose homes were "lightly damaged" will receive 10 million rupiah, with the funds expected to be disbursed within the next 50 days.
Anna Stevens and Kathryn Coulson were trekking on Mount Rinjani when the 6.4 quake struck the Indonesian island of Lombok on Sunday. The toll from the quake now stands at 17.
As more than 100 aftershocks continued to rock the popular tourist destination, falling debris caused several fatalities, while landslides blocked the paths down Mount Rinjani.
The search will be halted at sunset, search and rescue officials said. Singapore's Prime Minister Lee Hsien Loong yesterday wrote to Indonesian President Joko Widodo to offer his condolences, saying that he was deeply saddened by the tragic loss of lives, injuries and destruction.More news: Qualcomm's new smartwatch chipset set for September unveiling