Hawaii Tourism: Hawaii vacation rentals in demand in February

In February 2020, the total monthly supply of statewide vacation rentals was 728,400 unit nights and monthly demand was 612,600 unit nights, resulting in an average monthly unit occupancy of 84.1 percent.



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In comparison, Hawaii’s hotels were 84.7 percent occupied in February 2020. It is important to note that unlike hotels, condominium hotels, and timeshare resorts, vacation rental units are not necessarily available year-round or each day of the month. The unit average daily rate (ADR) for vacation rental units statewide in February was $246, lower than the ADR for hotels ($310).

HTA’s Tourism Research Division issued the report’s findings 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, condominium unit, 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 February, Maui County had the largest vacation rental supply of all four counties with 230,900 unit nights, which is an increase of 38.5 percent compared to a year ago. Unit demand was 202,500 unit nights, resulting in 87.7 percent occupancy (+1.2 percentage points) with an ADR of $315 (+9.7%). Maui County hotels were 81.5 percent occupied with an ADR of $480.

On Oahu, the vacation rental supply in February was 213,800 unit nights (-4.5%). Unit demand was 173,300 unit nights (-4.3%), resulting in 81.1 percent occupancy (+0.2 percentage points) and an ADR of $187 (+19.0%). Oahu hotels were 86.0 percent occupied with an ADR of $244.

There were 174,700 available unit nights (+17.5%) on the island of Hawaii in February. Unit demand was 146,200 unit nights (+27.0%), resulting in 83.7 percent occupancy (+6.2 percentage points) with an ADR of $180 (+11.2%). Hawaii Island hotels were 84.4 percent occupied with an ADR of $309.

Kauai had the fewest number of available unit nights in February at 108,900 (+35.0%). Unit demand was 90,500 unit nights (+31.5%), resulting in 83.2 percent occupancy (-2.2 percentage points) with an ADR of $308 (+8.8%). Kauai hotels were 84.6 percent occupied with an ADR of $319.

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https://www.eturbonews.com/568261/hawaii-tourism-hawaii-vacation-rentals-in-high-demand-in-february/

 

Source: eTurboNews

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