Maui County sees largest vacation rental supply, average daily rate in the state

Maui County last month had the largest vacation rental supply and average daily rate of all four counties, according to a state report released Thursday. 

Overall, vacation rentals across Hawaiʻi reported increases in supply, demand and average daily rate (ADR), with lower occupancy, last month compared to January 2022. 

In comparison to pre-pandemic January 2019, ADR was higher in January 2023, but vacation rental supply, demand and occupancy were lower.

Vacation rental data was published Thursday in the state of Hawai‘i Department of Business, Economic Development & Tourism’s Hawai‘i Vacation Rental Performance Report.

Maui County had the largest vacation rental supply in the state with 186,500 available unit nights (+4.4% vs. 2022, -11.8% vs. 2019). Unit demand was 125,600 unit nights (+6.4% vs. 2022, -29.5% vs. 2019), resulting in 67.3 percent occupancy (+1.3 percentage points vs. 2022, -17.0 percentage points vs. 2019) and ADR at $426 (+20.4% vs. 2022, +49.3% vs. 2019). 

For January, Maui County hotels reported ADR at $635 and occupancy of 67.6%.

O‘ahu vacation rental supply was 187,400 available unit nights (+17.0% vs. 2022, -27.8% vs. 2019). Unit demand was 115,500 unit nights (+9.1% vs. 2022, -40.5% vs. 2019), resulting in 61.6 percent occupancy (-4.4 percentage points vs. 2022, -13.1 percentage points vs. 2019) with ADR at $256 (+19.9% vs. 2022, +60.3% vs. 2019). 

In comparison, O‘ahu hotels reported ADR at $280 and occupancy of 74.4% for January 2023.

The island of Hawai‘i vacation rental supply was 157,700 available unit nights (+38.6% vs. 2022, -4.8% vs. 2019) in January. Unit demand was 98,900 unit nights (+20.9% vs. 2022, -18.3% vs. 2019), resulting in 62.7 percent occupancy (-9.2 percentage points vs. 2022, -10.4 percentage points vs. 2019) with ADR at $257 (+7.2% vs. 2022, +49.3% vs. 2019). 

Hawai‘i Island hotels reported ADR at $427 and occupancy of 76%.

Kaua‘i had the fewest number of available vacation rental unit nights in January at 102,400 (+29.3% vs. 2022, +5.7% vs. 2019). Unit demand was 53,600 unit nights (+1.7% vs. 2022, -33.2% vs. 2019), resulting in 52.3 percent occupancy (-14.2 percentage points vs. 2022, -30.5 percentage points vs. 2019) with ADR at $396 (+4.4% vs. 2022, +40.7% vs. 2019). 

Kaua‘i hotels reported ADR at $420 and occupancy of 74.8%.

In January 2023, the total monthly supply of statewide vacation rentals was 634,000 unit nights (+19.2% vs. 2022, -13.6% vs. 2019) and monthly demand was 393,500 unit nights (+9.8% vs. 2022, -31.4% vs. 2019) (Figures 1 and 2). This combination resulted in an average monthly unit occupancy of 62.1 percent (-5.3 percentage points vs. 2022, -16.1 percentage points vs. 2019) for January.

Occupancy for Hawai‘i’s hotels was 73% in January 2023.

The ADR for vacation rental units statewide in January was $330 (+13.6% vs. 2022, +50.9% vs. 2019). By comparison the ADR for hotels was $391 in January 2023. 

It is important to note that unlike hotels, units in vacation rentals are not necessarily available year-round or each day of the month and often accommodate a larger number of guests than traditional hotel rooms.

The state DBEDT report utilizes data compiled by Transparent Intelligence Inc.

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