Maui Business

Maui County vacation rental unit demand for October at 98,500 nights, down 27% from 2022

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On Oct. 8, a phased reopening started in West Maui after the wildfires that occurred in Lahaina two months earlier, resulting in increased unit night supply and unit night demand of vacation rentals in Kā‘anapali, Nāpili and Kapalua.

But with most of Lahaina still closed or destroyed, the number of Maui County’s vacation rentals available in October is 8.5% lower than a year ago, at 193,900 available unit nights.

And, despite the decrease in the number of units, occupancy was at only 50.8% in October for Maui County, according to data from the Hawaiʻi Department of Business, Economic Development, and Tourism.

The demand for vacation rentals fell to 98,500 unit nights, a 27% decrease from October 2022 and a whopping 61.5% decrease from October 2019 (before the pandemic struck).

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The average daily rate for vacation rentals for October was $279, down 19% from 2022 but up 24% from 2019.

The information was part of the Hawai‘i Vacation Rental Performance Report for the month of October that utilized data compiled by Lighthouse Intelligence.

Maui hotels reported an average daily rate of $506 and an occupancy of 66.5%.

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Throughout the state, the average daily rate for vacation rentals was higher than pre-pandemic levels, but supply, demand and occupancy were lower than October 2019.

In October, the total monthly supply of statewide vacation rentals was 761,000 unit nights, a 17% increase from 2022 but a 19.9% decrease from 2019.

Demand for October vacation rental units rose slightly to 387,300 unit nights, 2.8% higher than in 2022 but 43.8% lower than in 2019.

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These trends led to a monthly unit occupancy rate of 50.9%, down by 7 percentage points compared with 2022 and by 21.7 percentage points from 2019. By contrast, hotels in Hawaiʻi had an occupancy rate of 74.5% in October 2023.

Statewide, the average daily rate for vacation rental units was $265, reflecting an 8.5% decrease from 2022 but a 38% increase compared with 2019 figures. Hawaiʻi hotels had an average daily rate of $347 in the same month.

Vacation rentals may not offer consistent availability like hotels and they can often accommodate more guests.

The report excludes data from the Hawaiʻi Tourism Authority’s Hawaiʻi Hotel Performance Report and Hawaiʻi Timeshare Quarterly Survey Report. It includes various types of vacation rentals, regardless of legal status, which can vary by county.

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