The ADR for vacation rental units statewide in October was $265 (-8.5% vs. 2022, +38.0% vs. 2019). By comparison, the ADR for hotels was $347 in October 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.
Vacation rentals across Hawaiʻi reported increases in supply and demand, with lower average daily rate (ADR) and occupancy, in October 2023 compared to October 2022. In comparison to pre-pandemic October 2019, ADR was higher in October 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 October utilizing data compiled by Lighthouse Intelligence, Ltd.
In October 2023, the total monthly supply of statewide vacation rentals was 761,000 unit nights (+17.0% vs. 2022, -19.9% vs. 2019) and monthly demand was 387,300 unit nights (+2.8% vs. 2022, -43.8% vs. 2019). This combination resulted in an average monthly unit occupancy of 50.9 percent (-7.0 percentage points vs. 2022, -21.7 percentage points vs. 2019) for October. Occupancy for Hawai‘i’s hotels was 74.5 percent in October 2023.
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
On October 8, 2023, a phased reopening started in West Maui after the wildfires that occurred in Lahaina on August 8, 2023, resulting in increased unit night supply and unit night demand in Kā‘anapali, Nāpili and Kapalua but the vacation rental units in Lahaina continued to be inactive for October. In October 2023, Maui County vacation rental supply was 193,900 available unit nights (-8.5% vs. 2022, -40.0% vs. 2019). Unit demand was 98,500 unit nights (-27.0% vs. 2022, -61.5% vs. 2019), resulting in 50.8 percent occupancy (-12.9 percentage points vs. 2022, -28.2 percentage points vs. 2019) and ADR at $279 (-18.7% vs. 2022, +24.4% vs. 2019). For October 2023, Maui County hotels reported ADR at $506 and occupancy of 66.5 percent.
O‘ahu had the largest vacation rental supply at 225,900 available unit nights in October (+21.9% vs. 2022, -12.2% vs. 2019). Unit demand was 121,100 unit nights (+13.5% vs. 2022, -35.0% vs. 2019), resulting in 53.6 percent occupancy (-4.0 percentage points vs. 2022, -18.8 percentage points vs. 2019) with ADR at $225 (+3.6% vs. 2022, +40.6% vs. 2019). In comparison, O‘ahu hotels reported ADR at $271 and occupancy of 79.0 percent for October 2023.
The island of Hawai‘i vacation rental supply was 211,700 available unit nights (+35.6% vs. 2022, -6.0% vs. 2019) in October. Unit demand was 93,800 unit nights (+16.4% vs. 2022, -34.7% vs. 2019), resulting in 44.3 percent occupancy (-7.3 percentage points vs. 2022, -19.5 percentage points vs. 2019) with ADR at $229 (-4.8% vs. 2022, +54.9% vs. 2019). Hawai‘i Island hotels reported ADR at $399 and occupancy of 68.5 percent.
Kaua‘i had the fewest number of available vacation rental unit nights in October at 129,600 (+33.5% vs. 2022, -10.0% vs. 2019). Unit demand was 74,000 unit nights (+36.0% vs. 2022, -29.0% vs. 2019), resulting in 57.1 percent occupancy (+1.0 percentage points vs. 2022, -15.3 percentage points vs. 2019) with ADR at $356 (-3.8% vs. 2022, +55.0% vs. 2019). Kaua‘i hotels reported ADR at $396 and occupancy of 76.4 percent.
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.
