In January 2024, O‘ahu had the biggest trip rental provide at 209,200 out there unit nights (+11.6% vs. 2023, -19.5% vs. 2019).
Trip leases throughout Hawaiʻi reported will increase in provide, common day by day charge (ADR) and demand, with a decrease occupancy charge in January 2024 when in comparison with January 2023. Compared to pre-pandemic January 2019, ADR was increased in January 2024, however trip rental provide, demand, and occupancy had been decrease.
In January 2024, the whole month-to-month provide of statewide trip leases was 728,300 unit nights (+14.9% vs. 2023, -0.7% vs. 2019) and month-to-month demand was 430,300 unit nights (+9.4% vs. 2023, -25.0% vs. 2019). This mix resulted in a mean month-to-month unit occupancy of 59.1 % (-3.0 share factors vs. 2023, -19.1 share factors vs. 2019) for January. Occupancy for Hawai‘i’s inns was 75.4 % in January 2024.
The ADR for trip rental models statewide in January was $333 (+1.0% vs. 2023, +52.5% vs. 2019). By comparability, the ADR for inns was $378 in January 2024. You will need to word that in contrast to inns, models in trip leases are usually not essentially out there year-round or every day of the month and sometimes accommodate a bigger variety of company than conventional lodge rooms.
The info in DBEDT’s Hawai‘i Trip Rental Efficiency Report particularly excludes models reported in Hawai‘i Tourism Authority’s (HTA) Hawai‘i Resort Efficiency Report and Hawai‘i Timeshare Quarterly Survey Report. A trip rental is outlined as using a rental home, condominium unit, non-public room in a personal residence, or shared room/house in a personal residence. This report doesn’t decide or differentiate between models which might be permitted or unpermitted. The legality of any given trip rental unit is set on a county foundation.
Island Highlights
In January 2024, O‘ahu had the biggest trip rental provide at 209,200 out there unit nights (+11.6% vs. 2023, -19.5% vs. 2019). Unit demand was 126,000 unit nights (+9.2% vs. 2023, -35.0% vs. 2019), leading to 60.3 % occupancy (-1.3 share factors vs. 2023, -14.5 share factors vs. 2019) with ADR at $263 (+2.8% vs. 2023, +64.7% vs. 2019). Compared, O‘ahu inns reported ADR at $284 and occupancy of 79.0 % for January 2024.
Maui County trip rental provide was 208,900 out there unit nights in January (+12.0% vs. 2023, -1.2% vs. 2019), and Maui trip rental unit provide continued to be impacted by the August 8 wildfire. Unit demand was 129,100 unit nights (+2.8% vs. 2023, -27.5% vs. 2019), leading to 61.8 % occupancy (-5.5 share factors vs. 2023, -22.5 share factors vs. 2019) and ADR at $426 (-0.1% vs. 2023, +49.2% vs. 2019). For January 2024, Maui County inns reported ADR at $560 and occupancy of 71.4 %.
The island of Hawai‘i trip rental provide was 185,900 out there unit nights (+17.9% vs. 2023, +12.2% vs. 2019) in January. Unit demand was 109,100 unit nights (+10.4% vs. 2023, -9.8% vs. 2019), leading to 58.7 % occupancy (-4.0 share factors vs. 2023, -14.4 share factors vs. 2019) with ADR at $264 (+2.6% vs. 2023, +53.2% vs. 2019). Hawai‘i Island inns reported ADR at $455 and occupancy of 69.9 %.
Kaua‘i had the fewest variety of out there trip rental unit nights in January at 124,400 (+21.4% vs. 2023, +28.3% vs. 2019). Unit demand was 66,000 unit nights (+23.2% vs. 2023, -17.7% vs. 2019), leading to 53.1 % occupancy (+0.8 share factors vs. 2023, -29.7 share factors vs. 2019) with ADR at $400 (+1.0% vs. 2023, +42.1% vs. 2019). Kaua‘i inns reported ADR at $426 and occupancy of 71.4 %.
Vicky is the co-founder of TravelDailyNews Media Community the place she is the Editor-in Chief. She can also be chargeable for the day by 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 educational and industrial expertise throughout the journey trade. She has written/edited quite a few articles in varied tourism magazines.
