Christine Hitt
The latest vacation rental performance report is out, wrapping up 2024, and it's a mixed bag of ups and downs.
According to the Department of Business, Economic Development & Tourism, vacation rental demand statewide increased overall in 2024 by 2.8% compared to 2023. However, this is a decrease of 33.7% compared to 2019.
"Vacation rentals across Hawaii reported increases in supply, average daily rate (ADR) and demand, with a lower occupancy rate in December 2024 when compared to 2023," the report said. "In comparison to pre-pandemic December 2019, ADR was higher in December 2024, but vacation rental supply, demand and occupancy were lower."
Maui County had the largest supply of available unit nights in December 2024 at 247,400 and Kauai had the fewest at 138,500. Oahu had the highest occupancy percentage at 54.9%, while Kauai had the lowest occupancy percentage at 48.2%.