Updated : Feb 9, 2025
Key Takeaways
- The data is for the entire region of Hawaii from October 2023 to December 2024.
- The Average Daily Rate (ADR) for accommodations in the state of Hawaii, United States reaches its highest at $424 USD in December 2023 and dips to its lowest at $291 USD in September 2024.
- Revenue per available room (RevPAR), it peaks at $289 USD in February 2024 and hits a low in November 2024 with $125 USD.
- As for Occupancy rates, it climbs to its highest at 75% in February 2024 while arriving at a low of 38% in November 2024.
- We can observe a decrease in the Average Bookings from June 2024 onwards resulting in zero bookings from August to November 2024.
- The Count of active listings is observed to steadily increase over the span of the data, starting from 33,308 in October 2023 and culminating at 34,765 in November 2024. Consequently.
- December 2023 to February 2024 appears to be a peak period for the short term vacation rental business, while November 2024 indicates a period of relative slump.
ADR Summary
The Average Daily Rate (ADR) in Hawaii, United States, demonstrated a fluctuating trend from October 2023 to November 2024. It began at $352 USD in October 2023, reaching its peak at $424 USD in December 2023. After this peak, ADR decreased slightly to $404 USD in January 2024 and then essentially maintained this level in February. In March 2024, ADR slightly decreased to $401 USD.
A notable drop was observed in April 2024 when ADR fell to $366 USD, continued to drop to $338 USD in May, and slightly increased to $352 in June 2024. From July 2024 onwards, there was a sharp drop in ADR, reaching $309 USD in August and bottoming out at $291 USD in September. After hitting this low point, there was a slight recovery in the following two months, with ADR reaching $316 USD in October and $339 USD in November 2024.
This trend suggests a potential seasonal pattern with the highest rates in December-January and the lowest rates in September.
RevPAR Summary
The trend analysis of the past Revenue per Available Room (RevPAR) for Hawaii, United States from October 2023 to November 2024 indicates fluctuations on a monthly basis. It started off at $211 USD in October 2023, followed by a steady increase through November and December 2023 where it reached its peak at $269 USD.
At the beginning of 2024, a continuous rise was seen reaching a high of $289 USD in February. Post that, RevPAR dropped significantly over the subsequent months until it reached $142 USD by October 2024. The lowest point was observed in November 2024 at $125 USD.
Hence, a seasonal trend could be inferred with higher RevPAR at the end and beginning of the year and a decrease around the middle and end of the year.
Read here: How to Calculate RevPAR.
Occupancy Rate Summary
The occupancy data for Hawaii in the United States shows a discernible periodic trend from October 2023 to November 2024. Occupancy started at 62% in October 2023, with slight increases seen until it hit a peak of 75% in February 2024.
There was an abrupt drop to 68% in March 2024, after which it dipped to its lowest point in the data set – 38% in November 2024.
Several periods of increased and decreased occupancy can be identified. Between October 2023 and February 2024, there was a gradual increase, suggesting a rising trend during the winter months.
However, from February 2024 onwards, the occupancy percentage began to decrease, dropping significantly by September 2024. The drop in occupancy during late summer to autumn might suggest a slower season for tourism in this region.
Interestingly, for the months of August, September, October, and November in 2024, the Avg. Bookings dropped to zero, which also coincided with a drop in occupancy, signaling a significant decrease in activity in these months. This drop in bookings may be a contributing factor to the overall downward trend in occupancy seen later in the year.
Read here: How to Calculate Occupancy Rate.
Avg. Bookings Summary
The past trend of average bookings for the region of Hawaii, United States, shows some variation over the given months. Beginning in October 2023, average bookings were at 2.9, which then slightly increased to 3.2 in November. In December, the average bookings descended slightly to 3.0.
A considerable spike occurred in January 2024, with the average bookings peaking at 3.9. They then slightly decreased to 3.3 in both February and March. In April, the average decreased slightly more to 3.1, but it started to rise again in May and June, reaching 3.4 and 3.3 respectively.
July 2024 marked the highest average bookings during this timeframe, reaching 3.5. However, a sudden drop down to 0 was recorded from August 2024 through November 2024.
Taken overall, it looked like there was a seasonal trend, with bookings climbing to a peak in mid-year and then dropping sharply. The bookings remained constant around 0 for the latter part of the year, suggesting possible seasonal close-out or factors not available in the data.
Count of Active Listings Summary
The count of active listings in Hawaii, United States shows a generally increasing trend from October 2023 to June 2024, starting at 33,308 and peaking at 35,667. After this, there is a slight dip in July 2024 with a count of 35,095. The numbers then rebounded and remained largely stable until September 2024 oscillating around the 35,000 mark. From October to November 2024, the count of active listings slightly declined from 35,050 to 34,765.
Get actionable market insights from PriceLabs’ Market Dashboards.
About Short-term Rental Index
The World STR (Short-term Rental) Index by PriceLabs is a free tool for tracking short-term rental market performance worldwide. It offers data from Airbnb markets worldwide, refreshed monthly. You can access free insights on which locations are gaining or losing popularity. Key features include:
Compare: Compare year-over-year metrics like active listings, occupancy rates, RevPAR, and ADR.
Trend: Visualize how metrics have changed over the past years.
Pacing: Compare upcoming year metrics to the previous year for occupancy, ADR, and RevPAR.
Explore more FREE tools by PriceLabs .
