Vacation rentals across Hawaiʻi reported increases in supply and average daily rate (ADR), with lower demand and occupancy, in June 2023 compared to June 2022. 

In 2021 vacation rentals were outrunning traditional hotels in the Aloha State.

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

The State of Hawai‘i Department of Business, Economic Development & Tourism (DBEDT) issued today the Hawai‘i Vacation Rental Performance Report for the month of June utilizing data compiled by Transparent Intelligence, Inc.

In June 2023, the total monthly supply of statewide vacation rentals was 768,200 unit nights (+23.6% vs. 2022, -13.3% vs. 2019) and monthly demand was 417,600 unit nights (-3.5% vs. 2022, -36.1% vs. 2019) (Figures 1 and 2).

This combination resulted in an average monthly unit occupancy of 54.4 percent (-15.3 percentage points vs. 2022, -19.3 percentage points vs. 2019) for June. Occupancy for Hawai‘i’s hotels was 76.7 percent in June 2023. 

The ADR for vacation rental units statewide in June was $303 (+2.5% vs. 2022, +48.8% vs. 2019). By comparison, the ADR for hotels was $389 in June 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 data in DBEDT’s Hawai‘i Vacation Rental Performance Report specifically excludes units reported in Hawai‘i Tourism Authority’s Hawai‘i Hotel Performance Report and Hawai‘i Timeshare Quarterly Survey Report.

A vacation rental is defined as the use of a rental house, condominium unit, private room in a private home, or shared room/space in a 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

In June 2023, Maui County had the largest vacation rental supply at 246,200 available unit nights (+15.8% vs. 2022, -10.6% vs. 2019). Unit demand was 146,300 unit nights (-8.5% vs. 2022, -31.6% vs. 2019), resulting in 59.4 percent occupancy (-15.8 percentage points vs. 2022, -18.2 percentage points vs. 2019) and ADR at $356 (+4.2% vs. 2022, +53.2% vs. 2019). For June 2023, Maui County hotels reported ADR at $623 and occupancy of 67.2 percent.

O‘ahu had 211,300 available unit nights in June (+22.2% vs. 2022, -30.0% vs. 2019). Unit demand was 119,200 unit nights (+2.5% vs. 2022, -47.2% vs. 2019), resulting in 56.4 percent occupancy (-10.9 percentage points vs. 2022, -18.4 percentage points vs. 2019) with ADR at $242 (+11.0% vs. 2022, +40.2% vs. 2019). In comparison, O‘ahu hotels reported ADR at $291 and occupancy of 82.9 percent for June 2023.

The island of Hawai‘i vacation rental supply was 194,300 available unit nights (+26.0% vs. 2022, +1.7% vs. 2019) in June. Unit demand was 90,300 unit nights (-7.0% vs. 2022, -27.1% vs. 2019), resulting in 46.5 percent occupancy (-16.5 percentage points vs. 2022, -18.4 percentage points vs. 2019) with ADR at $245 (-0.9% vs. 2022, +51.2% vs. 2019). Hawai‘i Island hotels reported ADR at $410 and occupancy of 69.7 percent.

Kaua‘i had the fewest number of available vacation rental unit nights in June at 116,400 (+42.1% vs. 2022, -1.2% vs. 2019). Unit demand was 61,800 unit nights (+3.9% vs. 2022, -30.9% vs. 2019), resulting in 53.1 percent occupancy (-19.5 percentage points vs. 2022, -22.8 percentage points vs. 2019) with ADR at $378 (-5.5% vs. 2022, +40.6% vs. 2019). Kaua‘i hotels reported ADR at $434 and occupancy of 74.8 percent.

First Half 2023

For the first half of 2023, Hawai‘i vacation rental supply was 4.2 million unit nights (+19.4% vs. 2022, -12.2% vs. 2019) and demand was 2.5 million unit nights (-1.2% vs. 2022, -31.9% vs. 2019). The average daily unit rate for the first half of 2023 was $314 (+7.2% vs. 2022, +51.0% vs. 2019). Statewide vacation rental occupancy for the first half of 2023 was 58.7 percent (-17.2 percentage points vs. 2022, -22.4 percentage points vs. 2019). In comparison, statewide hotel ADR for the first half of 2023 was $380 and occupancy was 74.9 percent.

Tables of vacation rental performance statistics, including data presented in the report, are available for viewing online at: http://dbedt.hawaii.gov/visitor/vacation-rental-performance/

About the Hawaiʻi Vacation Rental Performance Report

The Hawai‘i Vacation Rental Performance Report is produced using data compiled by Transparent Intelligence, Inc., which was selected by DBEDT as the provider for these data services.

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