Hawaii vacation rentals nosedive in July

Hawaii vacation rentals nosedive in July

In July 2020, the total monthly supply of Hawaii statewide vacation rentals was 397,100 unit nights (-55.6%) and monthly demand was 56,000 unit nights (-91.9%), resulting in an average monthly unit occupancy of 14.1 percent (-63.5 percentage points).

In comparison, Hawaii’s hotels had an average occupancy rate of 20.9 percent in July 2020. It is important to note that unlike hotels, condominium hotels, timeshare resorts and vacation rental units 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 unit average daily rate (ADR) for vacation rental units statewide in July was $197, which was higher than the ADR for hotels ($174).

On Oahu, short-term rentals (rented for less than 30 days) were not allowed to operate during July. For Hawaii Island, Kauai and Maui County, legal short-term rentals were allowed to operate as long as they were not being used as a quarantine location.

During July, all passengers arriving from out-of state were required to abide by a mandatory 14-day self-quarantine, but interisland travelers did not have to quarantine. The majority of flights to Hawaii were cancelled in July because of COVID-19.

HTA’s Tourism Research Division issued the report’s findings utilizing data compiled by Transparent Intelligence, Inc. The data in this report specifically excludes units reported in HTA’s Hawaii Hotel Performance Report and Hawaii Timeshare Quarterly Survey Report. In this 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 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.

Island Highlights

In July, Maui had the largest vacation rental supply of all four counties with 142,000 unit nights, which was a decrease of 49.1 percent compared to a year ago. Unit demand was 12,700 unit nights (-94.4%), resulting in 8.9 percent occupancy (-72.6 percentage points) with an ADR of $228 (-40.8%). Maui County hotels were 12.1 percent occupied with an ADR of $206.

Oahu vacation rental supply was 108,300 unit nights (-63.2%). Unit demand was 22,000 unit nights (-90.7%), resulting in 20.3 percent occupancy (-59.9 percentage points) and an ADR of $170 (-42.6%). Oahu hotels were 23.3 percent occupied with an ADR of $170.

There were 90,900 available unit nights (-55.9%) on the island of Hawaii in July. Unit demand was 14,300 unit nights (-89.8%), resulting in 15.8 percent occupancy (-52.5 percentage points) with an ADR of $171 (-40.9%). Hawaii Island hotels were 24.7 percent occupied with an ADR of $164.

Kauai had the fewest number of available unit nights in July at 56,000 (-51.2%). Unit demand was 7,000 unit nights (-92.2%), resulting in 12.4 percent occupancy (-65.5 percentage points) with an ADR of $279 (-39.0%). Kauai hotels were 21.6 percent occupied with an ADR of $175.

#rebuildingtravel

CATEGORIES
x
0
Posts Remaining