October 2022 Hawai‘i Vacation Rental Performance Report

Vacation rentals across Hawaiʻi reported increases in supply, demand, and average daily rate (ADR), with lower occupancy, in October 2022 compared to October 2021. In comparison to pre-pandemic October 2019, ADR was higher in October 2022, but vacation rental supply, demand and occupancy were lower.

The State of Hawai‘i Department of Business, Economic Development & Tourism (DBEDT) issued today the Hawai‘i Vacation Rental Performance Report for the month of October utilizing data compiled by Transparent Intelligence, Inc.

In October 2022, the total monthly supply of statewide vacation rentals was 650,400 unit nights (+10.7% vs. 2021, -31.5% vs. 2019) and monthly demand was 376,700 unit nights (+9.0% vs. 2021, -45.4% vs. 2019) (Figures 1 and 2). This combination resulted in an average monthly unit occupancy of 57.9 percent (-0.9 percentage points vs. 2021, -14.7 percentage points vs. 2019) for October. Occupancy for Hawai‘i’s hotels was 72.0 percent in October 2022.

The ADR for vacation rental units statewide in October was $289 (+18.9% vs. 2021, +50.9% vs. 2019). By comparison the ADR for hotels was $338 in October 2022. 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 October, Maui County had the largest vacation rental supply of all four counties with 211,900 available unit nights (+2.9% vs. 2021, -34.5% vs. 2019). Unit demand was 134,900 unit nights (+4.4% vs. 2021, -47.2% vs. 2019), resulting in 63.7 percent occupancy (+0.9 percentage points vs. 2021, -15.3 percentage points vs. 2019) and ADR at $343 (+25.8% vs. 2021, +53.0% vs. 2019). For October, Maui County hotels reported ADR at $528 and occupancy of 65.1 percent.

O‘ahu vacation rental supply was 185,300 available unit nights (+13.8% vs. 2021, -28.0% vs. 2019). Unit demand was 106,700 unit nights (+22.6% vs. 2021, -47.2% vs. 2019), resulting in 57.6 percent occupancy (+4.1 percentage points vs. 2021, -14.8 percentage points vs. 2019) with ADR at $217 (+16.6% vs. 2021, +35.8% vs. 2019). In comparison, O‘ahu hotels reported ADR at $254 and occupancy of 73.2 percent for October 2022.

The island of Hawai‘i vacation rental supply was 156,100 available unit nights (+15.2% vs. 2021, -30.6% vs. 2019) in October. Unit demand was 80,600 unit nights (+2.1% vs. 2021, -43.9% vs. 2019), resulting in 51.6 percent occupancy (-6.6 percentage points vs. 2021, -12.2 percentage points vs. 2019) with ADR at $240 (+17.0% vs. 2021, +62.7% vs. 2019). Hawai‘i Island hotels reported ADR at $361 and occupancy of 75.1 percent.

Kaua‘i had the fewest number of available vacation rental unit nights in October at 97,000 (+16.4% vs. 2021, -32.6% vs. 2019). Unit demand was 54,400 unit nights (+7.8% vs. 2021, -47.8% vs. 2019), resulting in 56.1 percent occupancy (-4.5 percentage points vs. 2021, -16.3 percentage points vs. 2019) with ADR at $370 (+13.8% vs. 2021, +61.1% vs. 2019). Kaua‘i hotels reported ADR at $364 and occupancy of 78.7 percent.

Tables of vacation rental performance statistics, including data presented in the report are available for viewing online at: http://dbedt.hawaii.gov/visitor/vacation-rental-performance/

About the Hawaiʻi Vacation Rental Performance Report

The Hawai‘i Vacation Rental Performance Report is produced using data compiled by Transparent Intelligence, Inc., which was selected by DBEDT 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 Hawai‘i Hotel Performance Report and DBEDT’s Hawai‘i Timeshare Quarterly Report have been excluded from the Hawai‘i 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. DBEDT and HTA do not support illegal vacation rentals.

Transparent enriches their occupancy and price calculations with reservations data provided by vacation rental software providers, online travel agencies and local property managers. Currently, the reservations data provided by data partners represent about 29 percent of the estimated total unique vacation rental properties in the State of Hawai‘i.

For October 2022, the report included data for 28,841 units, representing 49,072 bedrooms in the Hawaiian Islands.