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Maui County Vacation Rental Demand Down 39% in September 2021 vs. 2019

For September 2021, the demand for Maui County vacation rentals was 138,400 unit nights, down 39 percent from September two years ago, before COVID-19 became a global pandemic, according to the latest Hawaiʻi Vacation Rental Performance Report from the Hawaiʻi Tourism Authority.

The report stated Maui County continues to have the largest vacation rental supply of all four counties with 219,200 available unit nights, although it is 29.9% less than in September 2019.

As a result of less demand, but also fewer available units, the vacation rental occupancy for September 2021 was 63.2%, down only 9.1 percentage points vs. 2019. The average daily rate (ADR) was $275, a 20.8% increase vs. 2019). In comparison, Maui County hotels reported ADR at $488 and occupancy of 59.2 percent.

Hawaiʻi vacation rentals statewide reported substantial increases in supply, demand, occupancy and average daily rate (ADR) in September 2021 compared to September 2020. But in comparison to September 2019, ADR was higher than September 2021, but vacation rental supply, demand and occupancy were down.

The report utilizes data compiled by Transparent Intelligence, Inc.

In September 2021, the total monthly supply of statewide vacation rentals was 606,900 unit nights (-33.6% vs. 2019), with monthly demand at 361,000 unit nights (-42.0% vs. 2019). It resulted in an average monthly unit occupancy of 59.5 percent (-8.7 percentage points vs. 2019). Occupancy for Hawai‘i’s hotels was 55.2% in September.

The ADR for vacation rental units statewide in September was $245 (+26.3% vs. 2019). By comparison the ADR for hotels was $304. 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.

In September, legal short-term rentals were allowed to operate in Maui County and on Oʻahu, Hawaiʻi Island and Kauaʻi as long as they were not being used as a quarantine location.

The data in the report specifically excludes units reported in the Hawaiʻi Hotel Performance Report and Hawaiʻi 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.

For September 2021, the report included data for 25,593 units, representing 43,708 bedrooms in the Hawaiian Islands. The report includes data for properties that are listed on Airbnb, Booking.com, HomeAway and TripAdvisor.

To see the entire report, click here.

Original source: https://mauinow.com/2021/10/25/maui-county-vacation-rental-demand-down-39-in-september-2021-vs-2019/

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