Hawaii Tourism Authority: October was a mixed bag for Hawaii vacation rentals

The Hawaii Tourism Authority (HTA) released the Hawaii Vacation Rental Performance Report for October 2019 today.



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In October 2019, the total monthly supply of statewide vacation rentals was 949,700 unit nights and monthly demand was 690,000 unit nights, resulting in an average monthly unit occupancy of 72.6 percent.

In comparison, Hawaii’s hotels were 79.1 percent occupied in October 2019. It is important to note that unlike hotels, condominium hotels, and timeshare resorts, vacation rental units are not necessarily available year-round or even for every day of the month. The unit average daily rate (ADR) for vacation rental units statewide in October was $192, lower than the ADR for hotels ($253).

The Hawaii Tourism Authority’s (HTA) Tourism Research Division issued the Hawaii Vacation Rental Performance Report utilizing data compiled by Transparent Intelligence, Inc. The data in this report specifically excludes units reported in HTA’s Hawaii Hotel Performance Report and Hawaii Timeshare Quarterly Survey Report. In this report, a vacation rental is defined as the use of a rental house, private room in private home, or shared room/space in private home. This report also does not determine or differentiate between units that are permitted or unpermitted. The “legality” of any given vacation rental unit is determined on a county basis.

Island Highlights

In October, Maui County had the largest vacation rental supply of all four counties at 323,000 unit nights, which is an increase of 28.8 percent compared to a year ago. Unit demand was 255,000 unit nights, resulting in 79.0 percent occupancy with ADR of $224. Maui County hotels were 76.3 percent occupied with ADR of $329.

Oahu had the second largest vacation rental supply with 257,000 unit nights. This is a decrease of 5.2 percent from a year ago. Unit demand on Oahu was 186,000 unit nights, resulting in 72.4 percent occupancy with ADR of $160. Oahu hotels were 82.6 percent occupied with ADR of $228.

There were 225,000 available unit nights on the island of Hawaii. Unit demand was 144,000 unit nights, resulting in 63.8 percent occupancy with ADR of $148. Hawaii Island hotels were 74.1 percent occupied with ADR of $239.

Kauai had the fewest number of available unit nights at 144,000. Unit demand was 104,000 unit nights, resulting in 72.4 percent occupancy with ADR of $230. Kauai hotels were 69.9 percent occupied with ADR of $253.

Click here to read the full article.

https://www.eturbonews.com/450171/hawaii-tourism-authority-october-was-a-mixed-bag-for-hawaii-vacation-rentals/

 

Source: eTurboNews

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