November 2012 Hawaii Vacation Rental Market Update
During the month of November, 2012 arrivals increased 14.5%, visitor expenditures went up nearly 23% and meeting, convention and incentive visitors grew by nearly 2% as compared to the previous year. These statistics put 2012 on the map as the busiest, most successful year for the State of Hawaii ever. Year to date, expenditures throughout the islands grew by just over 19% compared to the same time frame last year. In addition, 2006 considered the peak year for the State of Hawaii until now, had nearly 5% fewer guests visiting the state every day.
All four of the major islands reported growth with total expenditures and arrivals by air. In the lead, arrivals to the Big Island increased by 17.5% and visitor expenditures grew by 31.2%. Maui came in second with an arrival increase of over 14%. Expenditures increased by over 21%. Oahu offered nearly 14% additional arrivals with an almost 23% increase in overall visitor spending. Kauai had a 13% increase in visitors with an almost 12% increase in guest spending. All data was compared to November, 2011.
This overall growth can be attributed to various contributing markets around the world. West coast visitors increased by nearly 14% while East coast arrivals increased by just over 6%. The Japanese market offered support with an increase of nearly 22%. Canadian arrivals increased by 9% overall and other developing markets such as Asia, Oceania, Europe and Latin America had a nearly 10% increase in arrivals
The month of November, 2012 offered a dramatic increase for the condominium accommodation selection for arriving guests. This percentage grew by over 8% compared to November of last year. Though hotels increased by over 14%, these numbers continue to show the growing popularity of choosing a condo versus other options. There was also an increase with guests choosing to stay in a condo only during their vacation. Rather than splitting their time between multiple accommodation options, over 10% more arriving visitors chose condo vacations versus adding a hotel stay as well.
It appears that the recent years of struggle are in the past and the future looks bright for the tourism industry and the economy state wide. These November monthly totals and year-to-date figures continue to show a positive outlook for the State of Hawaii as we move closer to 2013.
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