Hawai‘i vacation rentals statewide reported substantial increases in supply, demand, occupancy and average daily rate (ADR) in October 2021 compared to October 2020. However, in comparison to October 2019, ADR was higher in October 2021, but vacation rental supply, demand and occupancy were down.
The Hawai‘i Tourism Authority (HTA) issued today the Hawai‘i Vacation Rental Performance Report for the month of October utilizing data compiled by Transparent Intelligence, Inc.
In October 2021, the total monthly supply of statewide vacation rentals was 587,700 unit nights (+57.3% vs. 2020, -38.1% vs. 2019) and monthly demand was 345,700 unit nights (+306.7% vs. 2020, -49.9% vs. 2019) (Figures 1 and 2). That resulted in an average monthly unit occupancy of 58.8 percent (+36.1 percentage points vs. 2020, -13.8 percentage points vs. 2019) for October. Occupancy for Hawai‘i’s hotels was 54.9% in October.
The ADR for vacation rental units statewide in October was $243 (+16.9% vs. 2020, +26.9% vs. 2019). By comparison the ADR for hotels was $308 in October 2021. 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.
In October, legal short-term rentals were allowed to operate in Maui County and on O‘ahu, Hawai‘i Island and Kaua‘i as long as they were not being used as a quarantine location.
In October 2021, passengers arriving from out-of-state could bypass the State’s mandatory 10-day self-quarantine if they were fully vaccinated in the United States or with a valid negative COVID-19 NAAT test result from a Trusted Testing Partner prior to their departure through the Safe Travels program.
The data in HTA’s Hawai‘i Vacation Rental Performance Report specifically excludes units reported in its Hawai‘i Hotel Performance Report and its Hawai‘i Timeshare Quarterly Survey Report. A vacation rental is defined as the use of a rental house, condominium unit, private room in private home, or shared room/space in private home. This report does not determine or differentiate between units that are permitted or unpermitted. The legality of any given vacation rental unit is determined on a county basis.
Island Highlights
The Island of Hawai‘i vacation rental supply was 135,600 available unit nights (+69.4% vs. 2020, -39.8% vs. 2019) in October. Unit demand was 78,900 unit nights (+353.3% vs. 2020, -45.1% vs. 2019), resulting in 58.2 percent occupancy (+36.5 percentage points vs. 2020, -5.6 percentage points vs. 2019) with ADR of $206 (+7.1% vs. 2020, +39.1% vs. 2019). Hawai‘i Island hotels reported ADR at $331 and occupancy of 64.3 percent.
In October, Maui County had the largest vacation rental supply of all four counties with 205,900 available unit nights (+48.6% vs. 2020, -36.3% vs. 2019). Unit demand was 129,200 unit nights (+344.7% vs. 2020, -49.4% vs. 2019), resulting in 62.8 percent occupancy (+41.8 percentage points vs. 2020, -16.3 percentage points vs. 2019) with ADR of $273 (+20.1% vs. 2020, +21.6% vs. 2019). In comparison, Maui County hotels reported ADR at $480 and occupancy of 60.3 percent.
O‘ahu vacation rental supply was 162,800 available unit nights (+68.7% vs. 2020, -36.7% vs. 2019) in October. Unit demand was 87,000 unit nights (+231.5% vs. 2020, -53.3% vs. 2019), resulting in 53.4 percent occupancy (+26.2 percentage points vs. 2020, -19.0 percentage points vs. 2019) and ADR of $186 (+7.4% vs. 2020, +16.4% vs. 2019). O‘ahu hotels reported ADR at $211 and occupancy of 48.9 percent.
Kaua‘i had the fewest number of available unit nights in October at 83,400 (+42.5% vs. 2020, -42.1% vs. 2019). Unit demand was 50,500 unit nights (+311.6% vs. 2020, -51.6% vs. 2019), resulting in 60.5 percent occupancy (+39.6 percentage points vs. 2020, -11.8 percentage points vs. 2019) with ADR of $325 (+24.6% vs. 2020, +41.5% vs. 2019). Kaua‘i hotels reported ADR at $311 and occupancy of 67.9 percent.
Tables of vacation rental performance statistics, including data presented in the report are available for viewing online at: https://www.hawaiitourismauthority.org/research/infrastructure-research/