Trip rentals across Hawaiʻi reported improves in provide and common day-to-day amount, with lessen need and occupancy, in March 2023 in contrast to March 2022, in accordance to the Condition of Hawai‘i Department of Organization, Financial Development & Tourism.
In comparison to pre-pandemic March 2019, the average day-to-day price was increased in March 2023, but vacation rental source, demand and occupancy had been reduce.
Kaua‘i experienced the fewest quantity of readily available holiday rental device evenings in March at 105,800 (+24.% vs. 2022, +2.3% vs. 2019). Device desire was 60,300 unit evenings (-6.8% vs. 2022, -30.% vs. 2019), resulting in 57. per cent occupancy (-18.8 proportion details vs. 2022, -26.3 percentage factors vs. 2019) with common day-to-day charge at $395 (+1.2% vs. 2022, +45.1% vs. 2019). Kaua‘i accommodations noted ordinary day-to-day amount at $404 and occupancy of 75.8 p.c.
In March 2023, the total month-to-month provide of statewide holiday vacation rentals was 687,900 unit evenings (+17.2% vs. 2022, -10.8% vs. 2019) and every month demand from customers was 431,100 device evenings (-1.% vs. 2022, -28.9% vs. 2019) (Figures 1 and 2). This blend resulted in an ordinary month to month unit occupancy of 62.7 % (-11.5 proportion details vs. 2022, -16. percentage factors vs. 2019) for March. Occupancy for Hawai‘i’s accommodations was 76.5 % in March 2023.
The ordinary each day fee for holiday rental models statewide in March was $326 (+8.6% vs. 2022, +52.5% vs. 2019). By comparison the ordinary each day fee for lodges was $387 in March 2023. It is significant to notice that not like resorts, units in holiday rentals are not always accessible yr-round or each working day of the month and often accommodate a much larger range of friends than regular hotel rooms.
The data in the Department of Business enterprise, Financial Growth & Tourism’s Hawai‘i Trip Rental Overall performance Report specially excludes units claimed in Hawai‘i Tourism Authority’s Hawai‘i Hotel Effectiveness Report and Hawai‘i Timeshare Quarterly Survey Report.
A vacation rental is described as the use of a rental property, condominium device, private area in private property, or shared room/area in personal dwelling. This report does not decide or differentiate in between models that are permitted or unpermitted. The legality of any presented trip rental unit is identified on a county foundation.