HAWAII VACATION RENTAL PERFORMANCE REPORT October 2021

HAWAII VACATION RENTAL PERFORMANCE REPORT
October 2021

Hawaii vacation rentals statewide reported substantial increases in supply, demand, occupancy and average daily rate (ADR) in October 2021 compared to October 2020. However, in comparison to October 2019, ADR was higher in October 2021, but vacation rental supply, demand and occupancy were down.

The Hawaii Tourism Authority (HTA) issued today the Hawaii Vacation Rental Performance Report for the month of October utilizing data compiled by Transparent Intelligence, Inc.

In October 2021, the total monthly supply of statewide vacation rentals was 587,700 unit nights (+57.3% vs. 2020, -38.1% vs. 2019) and monthly demand was 345,700 unit nights (+306.7% vs. 2020, -49.9% vs. 2019) (Figures 1 and 2). That resulted in an average monthly unit occupancy of 58.8 percent (+36.1 percentage points vs. 2020, -13.8 percentage points vs. 2019) for October. Occupancy for Hawaii’s hotels was 54.9% in October.

The ADR for vacation rental units statewide in October was $243 (+16.9% vs. 2020, +26.9% vs. 2019). By comparison the ADR for hotels was $308 in October 2021. 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.

In October, legal short-term rentals were allowed to operate in Maui County and on Oahu, Hawaii Island and Kauai as long as they were not being used as a quarantine location.

In October 2021, passengers arriving from out-of-state could bypass the State’s mandatory 10-day self-quarantine if they were fully vaccinated in the United States or with a valid negative COVID-19 NAAT test result from a Trusted Testing Partner prior to their departure through the Safe Travels program.

The data in HTA’s Hawaii Vacation Rental Performance Report specifically excludes units reported in its Hawaii Hotel Performance Report and its Hawaii 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 October, Maui County had the largest vacation rental supply of all four counties with 205,900 available unit nights (+48.6% vs. 2020, -36.3% vs. 2019). Unit demand was 129,200 unit nights (+344.7% vs. 2020, -49.4% vs. 2019), resulting in 62.8 percent occupancy (+41.8 percentage points vs. 2020, -16.3 percentage points vs. 2019) with ADR of $273 (+20.1% vs. 2020, +21.6% vs. 2019). In comparison, Maui County hotels reported ADR at $480 and occupancy of 60.3 percent.

Oahu vacation rental supply was 162,800 available unit nights (+68.7% vs. 2020, -36.7% vs. 2019) in October. Unit demand was 87,000 unit nights (+231.5% vs. 2020, -53.3% vs. 2019), resulting in 53.4 percent occupancy (+26.2 percentage points vs. 2020, -19.0 percentage points vs. 2019) and ADR of $186 (+7.4% vs. 2020, +16.4% vs. 2019). Oahu hotels reported ADR at $211 and occupancy of 48.9 percent.

The island of Hawaii vacation rental supply was 135,600 available unit nights (+69.4% vs. 2020, -39.8% vs. 2019) in October. Unit demand was 78,900 unit nights (+353.3% vs. 2020, -45.1% vs. 2019), resulting in 58.2 percent occupancy (+36.5 percentage points vs. 2020, -5.6 percentage points vs. 2019) with ADR of $206 (+7.1% vs. 2020, +39.1% vs. 2019). Hawaii Island hotels reported ADR at $331 and occupancy of 64.3 percent.

Kauai had the fewest number of available unit nights in October at 83,400 (+42.5% vs. 2020, -42.1% vs. 2019). Unit demand was 50,500 unit nights (+311.6% vs. 2020, -51.6% vs. 2019), resulting in 60.5 percent occupancy (+39.6 percentage points vs. 2020, -11.8 percentage points vs. 2019) with ADR of $325 (+24.6% vs. 2020, +41.5% vs. 2019). Kauai hotels reported ADR at $311 and occupancy of 67.9 percent.

Tables of vacation rental performance statistics, including data presented in the report are available for viewing online at: https://www.hawaiitourismauthority.org/research/infrastructure-research/

About the Hawaii Vacation Rental Performance Report

The Hawaii Vacation Rental Performance Report is produced using data compiled by Transparent Intelligence, Inc., which was selected by the Hawaii Tourism Authority as the provider for these data services.

The report includes data for properties that are listed on Airbnb, Booking.com, HomeAway and TripAdvisor. Data for units included in HTA’s Hawaii Hotel Performance Report and Hawaii Timeshare Quarterly Report have been excluded from the Hawaii Vacation Rental Performance Report. This report also 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. HTA does not support illegal vacation rentals.

Starting from May 2021, Transparent began enriching their occupancy and price calculations with a direct feed of reservations self reported from several local property managers, with the goal of refining the accuracy of these metrics as well as improving the market coverage. Currently, approximately 4% of the reservations analyzed are from direct reporting. This percentage will increase as more and more property managers are joining the data co-op. Important to note, supply is not affected by this change as supply is based on active inventory. For the avoidance of doubt, Transparent defines active inventory properties as those that have a searchable listing profile on at least one of the online travel agencies websites (Airbnb, Vrbo, Booking or Tripadvisor).

For October 2021, the report included data for 25,865 units, representing 44,157 bedrooms in the Hawaiian Islands.

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