Hawaiʻi’s trip leases noticed elevated provide and ADR in July 2024, with decrease occupancy in comparison with July 2023 and pre-pandemic ranges.
Trip leases throughout Hawai’i reported will increase in provide, demand and common every day charge (ADR), with decrease occupancy charge in July 2024 when in comparison with July 2023. Compared to pre-pandemic July 2019, ADR was larger in July 2024 however trip rental provide, demand and occupancy have been decrease.
In July 2024, the full month-to-month provide of statewide trip leases was 836,100 unit nights (+5.5% vs. 2023, -7.6% vs. 2019) and month-to-month demand was 459,900 unit nights (+1.1% vs. 2023, -34.7% vs. 2019). This mix resulted in a mean month-to-month unit occupancy of 55.0 p.c (-2.3 share factors vs. 2023, -22.8 share factors vs. 2019) for July. Occupancy for Hawai‘i’s motels was 78.4 p.c in July 2024.
The ADR for trip rental models statewide in July was $334 (+9.8% vs. 2023, +61.0% vs. 2019). By comparability, the ADR for motels was $385 in July 2024. You will need to notice that in contrast to motels, models in trip leases should not essentially accessible year-round or every day of the month and infrequently accommodate a bigger variety of visitors than conventional resort rooms.
The information in DBEDT’s Hawai‘i Trip Rental Efficiency Report particularly excludes models reported in DBEDT’s Hawai‘i Lodge Efficiency Report and Hawai‘i Timeshare Quarterly Survey Report. A trip rental is outlined as the usage of a rental home, condominium unit, non-public room in a personal dwelling, or shared room/area in a personal dwelling. This report doesn’t decide or differentiate between models which might be permitted or unpermitted. The legality of any given trip rental unit is decided on a county foundation.
Island Highlights
In July 2024, Maui County had the most important trip rental provide at 266,400 accessible unit nights (+6.6% vs. 2023, -7.1% vs. 2019). Unit demand was 141,400 unit nights (-11.0% vs. 2023, -39.4% vs. 2019), leading to 53.1 p.c occupancy (-10.5 share factors vs. 2023, -28.4 share factors vs. 2019) and ADR at $388 (+8.2% vs. 2023, +64.8% vs. 2019). For July 2024, Maui County motels reported ADR at $573 and occupancy of 60.5 p.c.
O‘ahu trip rental provide was 219,400 accessible unit nights (+3.5% vs. 2023, -26.5% vs. 2019). Unit demand was 144,300 unit nights (+9.2% vs. 2023, -39.8% vs. 2019), leading to 65.8 p.c occupancy (+3.4 share factors vs. 2023, -14.5 share factors vs. 2019) with ADR at $285 (+15.1% vs. 2023, +59.2% vs. 2019). As compared, O‘ahu motels reported ADR at $310 and occupancy of 88.3 p.c for July 2024.
The island of Hawai‘i trip rental provide was 214,500 accessible unit nights (+4.8% vs. 2023, +9.0% vs. 2019) in July. Unit demand was 98,300 unit nights (-0.4% vs. 2023,
-27.2% vs. 2019), leading to 45.8 p.c occupancy (-2.4 share factors vs. 2023, -22.8 share factors vs. 2019) with ADR at $268 (+13.3% vs. 2023, +64.3% vs. 2019). Hawai‘i Island motels reported ADR at $436 and occupancy of 67.6 p.c.
Kaua‘i had the fewest variety of accessible trip rental unit nights in July at 135,800 (+7.6% vs. 2023, +10.2% vs. 2019). Unit demand was 75,800 unit nights (+16.6% vs. 2023, -21.2% vs. 2019), leading to 55.8 p.c occupancy (+4.3 share factors vs. 2023, -22.2 share factors vs. 2019) with ADR at $410 (+6.0% vs. 2023, +51.3% vs. 2019). Kaua‘i motels reported ADR at $453 and occupancy of 79.0 p.c.
Vicky is the co-founder of TravelDailyNews Media Community the place she is the Editor-in Chief. She can also be liable for the every day operation and the monetary coverage. She holds a Bachelor’s diploma in Tourism Enterprise Administration from the Technical College of Athens and a Grasp in Enterprise Administration (MBA) from the College of Wales.
She has a few years of each tutorial and industrial expertise inside the journey trade. She has written/edited quite a few articles in varied tourism magazines.
