Vacation rentals throughout the state see a dip in occupancy
By Christina O'Connor – Reporter, Pacific Business News
Dec 24, 2019, 3:54pm EST
Supply and demand for vacation rental units throughout the state were up year-over-year in November, but occupancy was down, according to the latest data from Hawaii Tourism Authority.
According to HTA’s Hawaii Vacation Rental Performance Report, which was released Monday, unit supply was up 17% to more than 919,000 units, while demand was up 13% to 630,500. Occupancy, meanwhile, was down 2.4 percentage points compared to a year ago to 68.6%. The average daily rate (ADR) of vacation rental units remained mostly flat at $181.
The report defines vacation rentals as “the use of a rental house, private room in private home, or shared room/space in private home,” but does not differentiate between permitted and unpermitted properties. The report utilizes data compiled by Transparent Intelligence, Inc. and is based on properties that are listed on Airbnb, Booking.com, HomeAway and TripAdvisor.
For comparison, the report notes, hotels throughout the state had an occupancy rate of nearly 79% and an ADR of $260 in November.
Among the four counties, Oahu was the only one to experience a drop in supply and demand. Supply dropped 4.4% to 252,000 units, and demand was down 5.4% to 170,000 units. Oahu passed legislation cracking down on illegal short-term rentals earlier this year and, as the Department of Planning and Permitting noted earlier this week, 242 notices of violation have been issued since the law went into effect in August. Unit occupancy on Oahu dipped slightly (down 0.8 percentage points) to 67.5%, while ADR was up slightly (0.8 percentage points) to $146.
The other three counties all saw significant growth in supply and demand in November year-over-year.
Maui County recorded the largest supply of vacation rentals at more than 304,000 units, marking a 33% increase. Demand in Maui County also was up 26.5% to 231,000 units. Occupancy, however, dipped by nearly 4 percentage points to 76%.
Unit supply on Kauai was up 33% to 139,000 units, while demand was up 17% to 94,000 units. On Hawaii Island, supply and demand were up by 19% to 224,000 units and 18% to 135,000 units, respectively.
Despite the gains in supply and demand, occupancy dropped by 9.4 percentage points on Kauai to 68% and remained mostly flat on Hawaii Island at 60%. ADR on both islands also dropped by about 9%.
Supply and demand for vacation rental units throughout the state were up year-over-year in November, but occupancy was down, according to the latest data from Hawaii Tourism Authority.
According to HTA’s Hawaii Vacation Rental Performance Report, which was released Monday, unit supply was up 17% to more than 919,000 units, while demand was up 13% to 630,500. Occupancy, meanwhile, was down 2.4 percentage points compared to a year ago to 68.6%. The average daily rate (ADR) of vacation rental units remained mostly flat at $181.
The report defines vacation rentals as “the use of a rental house, private room in private home, or shared room/space in private home,” but does not differentiate between permitted and unpermitted properties. The report utilizes data compiled by Transparent Intelligence, Inc. and is based on properties that are listed on Airbnb, Booking.com, HomeAway and TripAdvisor.
For comparison, the report notes, hotels throughout the state had an occupancy rate of nearly 79% and an ADR of $260 in November.
Among the four counties, Oahu was the only one to experience a drop in supply and demand. Supply dropped 4.4% to 252,000 units, and demand was down 5.4% to 170,000 units. Oahu passed legislation cracking down on illegal short-term rentals earlier this year and, as the Department of Planning and Permitting noted earlier this week, 242 notices of violation have been issued since the law went into effect in August. Unit occupancy on Oahu dipped slightly (down 0.8 percentage points) to 67.5%, while ADR was up slightly (0.8 percentage points) to $146.
The other three counties all saw significant growth in supply and demand in November year-over-year.
Maui County recorded the largest supply of vacation rentals at more than 304,000 units, marking a 33% increase. Demand in Maui County also was up 26.5% to 231,000 units. Occupancy, however, dipped by nearly 4 percentage points to 76%.
Unit supply on Kauai was up 33% to 139,000 units, while demand was up 17% to 94,000 units. On Hawaii Island, supply and demand were up by 19% to 224,000 units and 18% to 135,000 units, respectively.
Despite the gains in supply and demand, occupancy dropped by 9.4 percentage points on Kauai to 68% and remained mostly flat on Hawaii Island at 60%. ADR on both islands also dropped by about 9%.
Supply and demand for vacation rental units throughout the state were up year-over-year in November, but occupancy was down, according to the latest data from Hawaii Tourism Authority.
According to HTA’s Hawaii Vacation Rental Performance Report, which was released Monday, unit supply was up 17% to more than 919,000 units, while demand was up 13% to 630,500. Occupancy, meanwhile, was down 2.4 percentage points compared to a year ago to 68.6%. The average daily rate (ADR) of vacation rental units remained mostly flat at $181.
The report defines vacation rentals as “the use of a rental house, private room in private home, or shared room/space in private home,” but does not differentiate between permitted and unpermitted properties. The report utilizes data compiled by Transparent Intelligence, Inc. and is based on properties that are listed on Airbnb, Booking.com, HomeAway and TripAdvisor.
For comparison, the report notes, hotels throughout the state had an occupancy rate of nearly 79% and an ADR of $260 in November.
Among the four counties, Oahu was the only one to experience a drop in supply and demand. Supply dropped 4.4% to 252,000 units, and demand was down 5.4% to 170,000 units. Oahu passed legislation cracking down on illegal short-term rentals earlier this year and, as the Department of Planning and Permitting noted earlier this week, 242 notices of violation have been issued since the law went into effect in August. Unit occupancy on Oahu dipped slightly (down 0.8 percentage points) to 67.5%, while ADR was up slightly (0.8 percentage points) to $146.
The other three counties all saw significant growth in supply and demand in November year-over-year.
Maui County recorded the largest supply of vacation rentals at more than 304,000 units, marking a 33% increase. Demand in Maui County also was up 26.5% to 231,000 units. Occupancy, however, dipped by nearly 4 percentage points to 76%.
Unit supply on Kauai was up 33% to 139,000 units, while demand was up 17% to 94,000 units. On Hawaii Island, supply and demand were up by 19% to 224,000 units and 18% to 135,000 units, respectively.
Despite the gains in supply and demand, occupancy dropped by 9.4 percentage points on Kauai to 68% and remained mostly flat on Hawaii Island at 60%. ADR on both islands also dropped by about 9%.