Vacation rentals across Hawaiʻi reported increases in supply and average daily rate (ADR), with lower demand and occupancy, in July 2023 compared to July 2022. In comparison to pre-pandemic July 2019, ADR was higher in July 2023 but vacation rental supply, demand and occupancy were lower.
The State of Hawai‘i Department of Business, Economic Development & Tourism (DBEDT) issued the Hawai‘i Vacation Rental Performance Report for the month of July utilizing data compiled by Transparent Intelligence, Inc.
In July 2023, the total monthly supply of statewide vacation rentals was 792,900 unit nights (+18.4% vs. 2022, -12.4% vs. 2019) and monthly demand was 454,700 unit nights (-5.5% vs. 2022, -35.4% vs. 2019). This combination resulted in an average monthly unit occupancy of 57.3% (-14.5 percentage points vs. 2022, -20.5 percentage points vs. 2019) for July. Occupancy for Hawai‘i’s hotels was 77.4% in July 2023.
The ADR for vacation rental units statewide in July was $304 (+1.0% vs. 2022, +46.7% vs. 2019). By comparison, the ADR for hotels was $409 in July 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 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
In July 2023, Maui County had the largest vacation rental supply at 250,000 available unit nights (+8.9% vs. 2022, -12.8% vs. 2019). Unit demand was 158,800 unit nights (-7.4% vs. 2022, -32.0% vs. 2019), resulting in 63.5% occupancy (-11.2 percentage points vs. 2022, -17.9 percentage points vs. 2019) and ADR at $359 (+2.0% vs. 2022, +52.3% vs. 2019). For July 2023, Maui County hotels reported ADR at $656 and occupancy of 67.4%.
O‘ahu had 212,000 available unit nights in July (+16.9% vs. 2022, -29.0% vs. 2019). Unit demand was 132,200 unit nights (-1.8% vs. 2022, -44.8% vs. 2019), resulting in 62.3% occupancy (-11.9 percentage points vs. 2022, -17.9 percentage points vs. 2019) with ADR at $247 (+9.3% vs. 2022, +38.4% vs. 2019). In comparison, O‘ahu hotels reported ADR at $306 and occupancy of 84.6% for July 2023.
The island of Hawai‘i vacation rental supply was 204,700 available unit nights (+17.5% vs. 2022, +4.0% vs. 2019) in July. Unit demand was 98,700 unit nights (-13.4% vs. 2022, -26.9% vs. 2019), resulting in 48.2% occupancy (-17.2 percentage points vs. 2022, -20.4 percentage points vs. 2019) with ADR at $237 (-7.7% vs. 2022, +45.1% vs. 2019). Hawai‘i Island hotels reported ADR at $442 and occupancy of 68.4%.
Kaua‘i had the fewest number of available vacation rental unit nights in July at 126,200 (+49.1% vs. 2022, +2.4% vs. 2019). Unit demand was 65,000 unit nights (+6.0% vs. 2022, -32.4% vs. 2019), resulting in 51.5% occupancy (-20.9 percentage points vs. 2022, -26.5 percentage points vs. 2019) with ADR at $387 (-4.3% vs. 2022, +42.8% vs. 2019). Kaua‘i hotels reported ADR at $459 and occupancy of 73.5%.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
