Posts Tagged ‘hawaii vacation rentals’

Hawaii Vacation Rental Market Update: January 2013

Friday, March 8th, 2013

January of 2013 offered the same positive momentum the State of Hawaii has seen in recent history. This trend actually continues the upward momentum on record for every month since January, 2011. Both total arrivals and overall expenditures increased during the month of January, 2013.

For the first month of 2013, total arrivals into the state increased by nearly 6% overall compared to January of 2012. Total visitor expenditures grew by nearly the same number. The US West region arrivals grew by 9% and expenditures increased by over 14%. Total arrivals from the US Eastern market increased by almost 2% while visitor spending improved by nearly 11%. Arrivals from the Japan market continued its eighteen month consecutive run, improving by nearly 8%. Expenditures increased by nearly 4%. Canadian visitors continued their support, offering over 5% additional visitors and almost 2% higher spending compared to January, 2012.

Each of the major Hawaiian Islands had increases with arrivals and visitor spending this last January. Kauai led the charge followed by the Big Island of Hawaii, then Maui and finally Oahu.

Chinese visitors decreased overall due to a shift in the Lunar New Year from February this year to January of last year. February should show improvements for that specific market. Though there were fewer visitors getting married on the islands this past month, honeymoon arrivals did increase by over 8%. Incentive trip arrivals increased however convention and corporate meeting visitors did decline compared to last year.

Guests staying in condos vs. hotels did increase for the month, improving by nearly 6%. Guests selecting hotel accommodations increased by almost 5% compared to January, 2012. These numbers are not surprising given the vacation rental market has been extremely busy over the past few months.

As we move further into 2013, business levels continue to improve. The Hawaiian Islands are busier than ever and the trend appears to be holding steady. The economy of Hawaii welcomes this continued success and we look forward to the future.

Vacation Rental Market Update December 2012

Thursday, February 21st, 2013

With 2012 behind us, tourism throughout the State of Hawaii showed continued growth through the month of December and at year’s end. Both visitor arrivals and expenditures increased compared to this time last year for the month of December. As noted by the Hawaii Tourism Authority, visitor expenditures and arrivals grew during every month of the year for 2012. In addition, visitor spending and arrivals were the highest ever on record. These statistics close out 2012 as the most successful year that the State of Hawaii has ever witnessed.

The month of December, 2012 offered a nearly 15% growth in expenditures and an over 6% growth in arrivals compared to the same time frame last year. All four major Hawaiian Islands showed growth in both categories for the year as well. Developing markets such as Korea, China, Hong Kong, Singapore, Australia, New Zealand, Europe and Latin America also showed an increase of over 21% in arrivals for the year.

Honeymooner arrivals increased by almost 10% for the year as did cruise ship arrivals, offering an increase of more than 16% for the year as a whole. Scheduled air seats grew by 8.5% for the year and all four major islands had more scheduled flights. Hilo for example, had nearly 60% more scheduled seats than the year previous.

The Big Island had the largest growth in visitors compared to the other major island for the third month in a row. In addition, it offered more than a 20% growth in visitor expenditures for the month compared to December, 2011. Oahu had the next highest arrival total followed by Kaua’i and Maui.

Guest arrivals staying in condos rose by nearly 6% for the month of December and over 5% for the year. Domestic travelers were supporting the vacation rental market more so than international visitors. International visitors staying in condos for the month showed a slight decline but did finish strong with an over 8% increase for the year. The US West market supported the industry a bit more in accommodation selection than those from the US Eastern market. This is not surprising given the US West market offers more overall visitors. The US East market offered an 8.2% rise for the month and nearly 3% gain for the year. Its West coast counterpart showed over a 9% gain for the month with a nearly 6% gain for the year.

Moving into 2013, the tourism industry has shown continued growth from the previous year into the month of January, 2013. The islands have been extremely busy and continue to show signs of prosperity. Hopefully this growth will continue through the New Year and beyond, offering a bright future for the State of Hawaii, visitors and island residents alike.

Hawaii Vacation Rental Market Update ~ June 2012

Thursday, August 30th, 2012

As the 1st half of 2012 is behind us, the positive momentum continues into the 2nd half of the year. June of 2012 showed an overall increase in expenditures, daily spending, arrivals, meetings, conventions and incentives along with honeymoon visitors. All areas of accommodation selection including hotels, condos, and timeshares showed positive growth, some with double digit percentage increases for the month.

Expenditures rose by 20.4%, or $207 million as compared to the previous year, an all-time record for the month of June. The month also showed an 11.5% increase in overall arrivals through the state compared to the previous year. Many of the influential major market areas contributed to that increase such as the mainland United States, Asia, Latin America, Oceania, and Japan. Europe and Canada showed positive numbers however, they were less substantial.

Daily spending per person rose by just over 10% to about $192 per day. Meetings, conventions and incentives showed an additional 30.7% increase in arrivals from last year with an overall increase of 2.6% for the first half of the year. Fewer visitors chose to get married in Hawaii however, the honeymoon sector increased by nearly 15% over that of last year. It also appears that arriving travelers decided to visit one island rather than multiple locations over that of last year. With an increase of over 11%, visitors are making more of a commitment to their chosen destination for perhaps a slightly shorter amount of time. The average length of stay did decline slightly by just under 2%.

Hotels and timeshare properties witnessed the greatest increase of 14.6% and 16.8% respectively. Condo properties saw an increase as well from last year, showing a less impressive but positive growth of 6.5%.

In respect to the Big Island, arrivals increased by nearly 8% and visitor spending increased by just over 4% to $130.8 million. Japan and Canada had the greatest arrival increase as compared to other major market areas. Each of the islands showed consistent arrival increases and most had higher earnings as compared to the previous year.

The Hawaiian Islands are certainly moving in the right direction month over month and in this case, year over year. We look forward to the continued prosperity and support shown by both domestic and international visitors, moving the Aloha State into the future with a positive outlook.

2010 Hawaii Vacation Rental Market Analysis

Monday, February 28th, 2011

2010 was one of the best years the Hawaii tourism industry has recorded in years. With the current economic state along with the increase in tourism many vacationers are choosing vacation rentals for their accommodations versus other alternatives, which fairs well for vacation rental homeowners in Hawaii.

The Hawaii Tourism Authority reported an increase in visitors in Hawaii in all four quarters in 2010 versus 2009. The percentage increase grew as the year progressed leading speculation that there will be continued growth in Hawaii in 2011.

Hawaii Tourism 2009 vs 2010

Looking into the vacation rental industry in Hawaii it appears the vacation rental industry enjoyed the growth of Hawaii tourism plus some more. Instant Software, the most used vacation rental reservation software nationally, reported a substantial increase in vacation rental reservations in 2010 versus 2009 in Hawaii. While Hawaii tourism grew close to 10% in 2010 the vacation rental occupancy grew 20% in 2010. This growth could be attributed to the economy, enhanced marketing efforts by vacation rental companies nationally, Gulf of Mexico issues, along with many other factors. Along with the increase occupancy there was an increase in average daily rate by 5%, which confirms that the increase was not due to “deep discounting” by vacation rental homeowners and agencies.

Looking forward, many speculate the growth will continue well into 2011. Group travel to the Big Island of Hawaii is significantly up in the first quarter, which historically has led to higher single or family traveler airline rates during that timeframe. This displacement in the first quarter will lead people to put off their travel until later dates in the year, which would give the Big Island nice growth in the following quarters in 2011.