The striker saw his spot kick saved on Saturday as the R's lost their Premier League opener 1-0 at Loftus Road.
However, Redknapp insists that he would have no problem with Austin taking another penalty should the opportunity arise in the future.
"Charlie's taking the penalties. He scored some vital penalties for us last season, so I've no problem with that," he told Sky Sports News.
QPR continue their Premier League campaign Sunday when they face Tottenham Hotspur at White Hart Lane.