Drop in Hawaii Hotel Room Inventory Creates Opportunity for Vacation Rentals
Hotel room inventory has slipped by 5% in Hawaii, according to an article in the Pacific Business News (Honolulu). However, this decline in hotel rooms hase been made up by a shift to condo/hotel properties and other alternative accommodations. The share of units held by hotels has fallen below the two-thirds mark: 63 percent of visitor accommodations are hotel rooms and suites, followed by 20.7 percent for condo/hotel properties, 9.6 percent for time shares, 3.3 percent for individual vacation units, and less than 1 percent apiece for bed and breakfasts and hostels.
The article by Howard Dicus reports that there also was a shift toward better-appointed and more expensive accommodations. Units classified as "luxury" increased 2.2 percent, while "standard" units decreased 3.5 percent. The latest Hawaii accommodations inventory by the state counts 72,889 visitor accommodation units, including hotel rooms, rentable condos, timeshares, bed-and-breakfasts and hostels.
Our own survey of listings in VacaationRental.org, as well as other directories indicates that there are plenty of luxury vacation rentals in spectacular locations in Maui, Oahu, and Kauai.
