Maui County Vacation Rental Unit Demand for October Down 50% from October 2019
Unit demand for vacation rentals in Maui County in October 2021 was down nearly 50% from the same month in 2019, before the pandemic hit, according to the latest vacation rental performance report in Hawai’i from the Hawai’i Tourism Authority.
Maui County had the largest vacation rental supply of the four counties with 205,900 nights available for October despite 36% fewer nights than 2019. Unit demand was 129,200 nights, or 62.8% of nights. occupancy, 16.3 percentage points lower than in 2019.
The Average Daily Rate (ADR) for vacation rental units was $ 273, a 21.6% increase from two years ago. By comparison, Maui County hotels reported an ADR of $ 480 and an occupancy rate of 60.3%.
Hawaii vacation rentals statewide reported that ADR was higher in October 2021 than in 2019, but vacation rental supply, demand and occupancy were down.
As of October 2021, the total monthly supply of vacation rentals statewide was 587,700 nights (-38.1% from 2019) and monthly demand was 345,700 nights (-49.9% from 2019). compared to 2019). This translated to an average monthly unit occupancy of 58.8% (-13.8 percentage points from 2019) for October. Hawaii’s hotel occupancy rate was 54.9% in October.
The ADR for vacation rental units statewide in October was $ 243 (+ 26.9% from 2019). In comparison, the ADR for hotels was $ 308 in October 2021. It is important to note that unlike hotels, vacation rental units are not necessarily available year round or every day of the month and often host more guests than traditional hotel rooms. .
In October, legal short-term rentals were allowed in Maui County and on O’ahu, Hawai’i Island and Kaua’i until they were used as a quarantine location.
Tables of vacation rental performance statistics, including data presented in the report, can be viewed online at: https://www.hawaiitourismauthority.org/research/infrastructure-research/
Data from HTA’s Hawai’i Vacation Rental Performance Report specifically excludes units reported in its Hawai’i Hotel Performance Report and in its Quarterly Hawai’i Timeshare Survey report. . A vacation rental is defined as the use of a rental home, condominium accommodation, a private room in a private house, or a shared room / space in a private house. This report does not identify or differentiate between authorized and unauthorized units. The legality of any given vacation rental unit is determined on a county basis.
For October 2021, the report included data for 25,865 units, representing 44,157 rooms in the Hawaiian Islands.
From May 2021, Transparent began to enrich its occupancy and price calculations with a direct flow of self-reported bookings by several local property managers, with the aim of refining the accuracy of these measurements and improving coverage of the Marlet. Currently, around 4% of the bookings analyzed come from direct reports. This percentage will increase as more property managers join the data cooperative. It is important to note that 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 agency websites (Airbnb, Vrbo, Booking, or Tripadvisor).