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January 2024 Hawai’i hotel performance report

Honolulu
Honolulu

Statewide Hawai‘i room demand was 1.3 million room nights (+3.7% vs. 2023, -2.6% vs. 2019) and room supply was 1.7 million room nights (+0.1% vs. 2023, +2.7% vs. 2019).

Hawai’i hotels statewide reported slightly higher occupancy and revenue per available room (RevPAR) but lower average daily rate (ADR) in January 2024 compared to January 2023. When compared to pre-pandemic January 2019, statewide ADR and RevPAR were higher in January 2024 but occupancy was lower.

Statewide RevPAR in January 2024 was $285 (+0.1%), with ADR at $378 (-3.4%) and occupancy of 75.4 percent (+2.6 percentage points) compared to January 2023 (Figure 1). Compared with January 2019, RevPAR was 20.6 percent higher, driven by higher ADR (+27.1%) which offset lower occupancy (-4.1 percentage points).

The report’s findings utilized data compiled by STR, Inc., which conducts the largest and most comprehensive survey of hotel properties in the Hawaiian Islands. For January 2024, the survey included 171 properties representing 48,025 rooms, or 86.5 percent of all lodging properties with 20 rooms or more in the Hawaiian Islands, including those offering full service, limited service, and condominium hotels. Vacation rental and timeshare properties were not included in this survey.

Statewide Hawai‘i hotel room revenues totaled $490.8 million (+0.2% vs. 2023, +23.8% vs. 2019) in January 2024.

Luxury Class properties earned RevPAR of $515 (-2.1% vs. 2023, +13.7% vs. 2019), with ADR at $835 (-3.8% vs. 2023, +35.8% vs. 2019) and occupancy of 61.7 percent (+1.0 percentage points vs. 2023, -12.0 percentage points vs. 2019). Midscale & Economy Class properties earned RevPAR of $172 (-2.9% vs. 2023, +10.6% vs. 2019) with ADR at $227 (-4.1% vs. 2023, +19.7% vs. 2019) and occupancy of 76.0 percent (+1.0 percentage points vs. 2023, -6.2 percentage points vs. 2019).

Maui County hotels continued to be impacted by the August 8, 2023, wildfires, but still led the counties in January 2024 RevPAR due to comparatively higher ADR. Maui County hotels achieved RevPAR of $400 (-6.8% vs. 2023, +20.4% vs. 2019), with ADR at $560 (-11.5% vs. 2023, +27.6% vs. 2019) and occupancy of 71.4 percent (+3.6 percentage points vs. 2023, -4.3 percentage points vs. 2019). Maui’s luxury resort region of Wailea had RevPAR of $597 (-0.4% vs. 2023, +6.9% vs. 2019), with ADR at $868 (-14.8% vs. 2023, +33.2% vs. 2019) and occupancy of 68.8 percent (+9.9 percentage points vs. 2023, -16.9 percentage points vs. 2019). In January, hotels in the Lahaina/Kāʻanapali/Kapalua region were occupied by a mix of displaced Lahaina residents impacted by the fires, relief workers, and visitors. The Lahaina/Kā‘anapali/Kapalua region had RevPAR of $344 (-14.0% vs. 2023, +25.1% vs. 2019), ADR at $468 (-15.4% vs. 2023, +26.1% vs. 2019) and occupancy of 73.5 percent (+1.2 percentage points vs. 2023, -0.6 percentage points vs. 2019).

Kaua‘i hotels earned RevPAR of $305 (-2.6% vs. 2023, +27.8% vs. 2019), with ADR at $426 (+1.8% vs. 2023, +33.2% vs. 2019) and occupancy of 71.4 percent (-3.2 percentage points vs. 2023, -3.0 percentage points vs. 2019).

Hotels on the island of Hawai‘i reported RevPAR at $318 (+1.2% vs. 2023, +39.0% vs. 2019), with ADR at $455 (+8.2% vs. 2023, +52.8% vs. 2019), and occupancy of 69.9 percent (-4.8 percentage points vs. 2023, -6.9 percentage points vs. 2019). Kohala Coast hotels earned RevPAR of $458 (+3.3% vs. 2023, +41.8% vs. 2019), with ADR at $616 (+6.4% vs. 2023, +45.5% vs. 2019), and occupancy of 74.4 percent (-2.2 percentage points vs. 2023, -2.0 percentage points vs. 2019).

O‘ahu hotels reported RevPAR of $224 (+7.6% vs. 2023, +13.5% vs. 2019) in January, ADR at $284 (+1.3% vs. 2023, +18.4% vs. 2019) and occupancy of 79.0 percent (+4.6 percentage points vs. 2023, -3.4 percentage points vs. 2019). Waikīkī hotels earned RevPAR of $216 (+8.2% vs. 2023, +10.7% vs. 2019), with ADR at $273 (+1.5% vs. 2023, +16.1% vs. 2019) and occupancy of 79.1 percent (+4.9 percentage points vs. 2023, -3.8 percentage points vs. 2019).

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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