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Hawaiʻi vacation rental performance report for November 2023
03.01.2024 - 09:38 / traveldailynews.com / Vicky Karantzavelou
-18.1 percentage points vs. 2019 for November. Occupancy for Hawai‘i’s hotels was 72.9 percent in November 2023.
Vacation rentals across Hawaiʻi reported increases in supply, average daily rate (ADR) and demand, with a lower occupancy rate in November 2023 when compared to November 2022. In comparison to pre-pandemic November 2019, ADR was higher in November 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 November utilizing data compiled by Lighthouse Intelligence, Ltd.
In November 2023, the total monthly supply of statewide vacation rentals was 788,400 unit nights (+23.3% vs. 2022, -14.2% vs. 2019) and monthly demand was 398,300 unit nights (+9.1% vs. 2022, -36.8% vs. 2019). This combination resulted in an average monthly unit occupancy of 50.5 percent (-6.6 percentage points vs. 2022,
The ADR for vacation rental units statewide in November was $294 (+0.4% vs. 2022, +39.3% vs. 2019). By comparison, the ADR for hotels was $350 in November 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 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.
On November 1, 2023, the final phases of reopening West Maui, except Lahaina, after the August 8 wildfires started, resulting in increased unit night supply and unit night demand in Kā‘anapali, Nāpili and Kapalua when compared to last month. The vacation rental units in Lahaina continued to be inactive for November. In November 2023, Maui County had the largest vacation rental supply at 235,400 available unit nights (+18.7% vs. 2022, -22.6% vs. 2019). Unit demand was 122,900 unit nights (-3.1% vs. 2022, -46.8% vs. 2019), resulting in 52.2 percent occupancy (-11.7 percentage points vs. 2022, -23.7 percentage points vs. 2019) and ADR at $360 (+1.1% vs. 2022, +46.8% vs. 2019). For November 2023, Maui County hotels reported ADR at $497 and occupancy of 68.6 percent.
O‘ahu vacation rental supply was 223,200 available unit nights in November (+22.6% vs. 2022,
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