VRMA Administrator
There was a larger supply of vacation rentals in Hawaii in July compared with the same month in 2022, but demand and occupancy decreased, according to a report from the state Department of Business, Economic Development and Tourism. The report found that across the state, supply grew 18.4 percent to 792,902 units, while demand fell 5.5 percent to 454,719 units and occupancy dropped 14.5 percentage points to 57.3 percent. The average daily rate (ADR) for a vacation rental unit, however, rose 1 percent to nearly $304. Maui had the state's highest vacation rental supply at 250,000 available units, up 8.9 percent from 2022. Demand for Maui units fell 7.4 percent to 158,800 unit nights. July vacation rental occupancy on Maui was 63.5 percent, down 11.2 percentage points from July 2022. ADR on Maui rose 2 percent to $359. It remains unclear how vacation rental performance will be affected on Maui in August, following the fire that destroyed Lahaina town. Initially, visitors were asked to leave Maui, and social media promoted the idea that due to sensitivity Maui should be closed, which resulted in huge cancellations for Maui's visitor industry. Some Maui vacation rentals could see a boost from a partnership between Airbnb and the state to provide temporary housing to at least 1, 000 displaced Maui residents. Oahu's numbers in August also could be affected by the Maui wildfires as Mayor Rick Blangiardi suspended the short-term vacation rental 30-day minimum rental period requirement from Aug. 11 to 24 to help provide emergency housing for Maui residents.
Honolulu Star-Advertiser (09/04/23) Allison Schaefers
