In February 2024, O‘ahu had the most important trip rental provide at 197,900 out there unit nights.
Trip leases throughout Hawaiʻi reported will increase in provide, common every day fee (ADR) and demand, with a decrease occupancy fee in February 2024 when in comparison with February 2023. Compared to pre-pandemic February 2019, ADR and trip rental provide had been greater in February 2024, however trip rental demand and occupancy had been decrease.
In February 2024, the full month-to-month provide of statewide trip leases was 665,700 unit nights and month-to-month demand was 404,600 unit nights. This mix resulted in a median month-to-month unit occupancy of 60.8 p.c (-5.7 share factors vs. 2023, -21.5 share factors vs. 2019) for February. Occupancy for Hawai‘i’s motels was 79.8 p.c in February 2024. Please observe that February 2024 had an additional leap-year day whereas 2023 and 2019 didn’t.
The ADR for trip rental items statewide in February was $339 (+1.9% vs. 2023, +56.5% vs. 2019). By comparability, the ADR for motels was $372 in February 2024. You will need to observe that not like motels, items in trip leases aren’t essentially out there year-round or every day of the month and sometimes accommodate a bigger variety of friends than conventional lodge rooms.
The info in DBEDT’s Hawai‘i Trip Rental Efficiency Report particularly excludes items reported in Hawai‘i Tourism Authority’s (HTA) 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, personal room in a non-public house, or shared room/house in a non-public house. This report doesn’t decide or differentiate between items which can be permitted or unpermitted. The legality of any given trip rental unit is set on a county foundation.
Island Highlights
In February 2024, O‘ahu had the most important trip rental provide at 197,900 out there unit nights. Unit demand was 123,300 unit nights, leading to 62.3 p.c occupancy (-3.9 share factors vs. 2023, -18.6 share factors vs. 2019) with ADR at $265 (+5.4% vs. 2023, +67.3% vs. 2019). As compared, O‘ahu motels reported ADR at $283 and occupancy of 84.0 p.c for February 2024.
Maui County trip rental provide was 185,600 out there unit nights in February, and Maui trip rental unit provide continued to be impacted by the August 8 wildfire. Unit demand was 119,200 unit nights, leading to 64.2 p.c occupancy (-6.6 share factors vs. 2023, -22.3 share factors vs. 2019) and ADR at $440 (-4.3% vs. 2023, +51.4% vs. 2019). For February 2024, Maui County motels reported ADR at $543 and occupancy of 74.2 p.c.
The island of Hawai‘i trip rental provide was 170,400 out there unit nights in February. Unit demand was 99,700 unit nights, leading to 58.5 p.c occupancy (-7.2 share factors vs. 2023, -19.3 share factors vs. 2019) with ADR at $268 (+7.7% vs. 2023, +59.5% vs. 2019). Hawai‘i Island motels reported ADR at $450 and occupancy of 73.2 p.c.
Kaua‘i had the fewest variety of out there trip rental unit nights in February at 111,800. Unit demand was 62,400 unit nights, leading to 55.8 p.c occupancy (-4.1 share factors vs. 2023, -29.5 share factors vs. 2019) with ADR at $406 (+2.8% vs. 2023, +41.4% vs. 2019). Kaua‘i motels reported ADR at $429 and occupancy of 78.0 p.c.
Vicky is the co-founder of TravelDailyNews Media Community the place she is the Editor-in Chief. She can 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 educational and industrial expertise throughout the journey trade. She has written/edited quite a few articles in varied tourism magazines.
