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Maui Hotel Occupancy Up and Rates Down

Maui hotels showed a nice boost to occupancy in the week ending on the 14th.
December 28, 2012

Maui Hotel Occupancy Up and Rates Down

South Maui Properties

By Mark Harbison

Last week, we blogged about the fantastic Maui hotels that made the Conde Nast Traveler's Gold List. Two of them were located on beautiful oceanfront South Maui properties. The outcome was a triumph, to be sure, but what about Maui hotel performance in relation to the economy? A recent report from Hospitality Advisors LLC and Smith Travel Research bears good news.

During the week that ended on December 14th, Hawaii hotel occupancy was up 7.5 percent compared to the same week last year. Hotels were 71.6 percent full. Average daily room rates went up 5 percent to $185. Those are the numbers for the state, but Maui itself had the largest increase in occupancy of any of the islands with a 17 percent jump compared to the same week last year. Hotels here were 73.6 percent occupied, which was higher than the state average. What's interesting is that Maui generally has the highest average daily room rate of the islands, but during the aforementioned week, those rates fell by 5 percent to $204.30. This is still about $20 per night higher than the neighbor islands' averages.

Only Oahu's average daily room rates went up, with a 12 percent increase to $180.98. Occupancy was up 5.6 percentage points to 80.8 percent. It's a busy island. Kauai hotels increased 5.7 percent in occupancy to 47.7 percent, which is still extremely low. Room rates were up 3.2 percent to $188.80 per night. Lastly, the Big Island saw a 1.2 percent drop in occupancy to 49.7 percent and a 7.4 drop in average daily room rates to $165.47.

Overall, Maui's report for that week was the most encouraging, but as with Maui real estate, we like to remind readers to put more weight into long term trends for reliable information. In these small island markets, a few changes can influence the whole quite a lot, whereas statistics with large markets are steadier.

Like we mentioned in our last blog, this kind of progress is good for the economy, and good for real estate. Visitors who are sufficiently enjoy their trips to Maui often decide they want to live here permanently. How can we blame them? Maui is our favorite place in the world. If you need any assistance finding a home here, we'd be happy to help. You can find our contact information at the bottom of the page. Mahalo!

Blogs for December 2012

Maui Hotel Occupancy Up and Rates Down

Posted on December 28, 2012
Maui Hotel Occupancy Up and Rates Down

By Mark Harbison

Last week, we blogged about the fantastic Maui hotels that made the Conde Nast Traveler's Gold List. Two of them were located on beautiful oceanfront South Maui properties. The outcome was a triumph, to be sure, but what about Maui hotel performance in… Continue Reading

Maui Hotels on Conde Nast Traveler's Gold List

Posted on December 21, 2012
Maui Hotels on Conde Nast Traveler's Gold List

By Mark Harbison

Three of Maui's hotels made the Conde Nast Traveler's Gold List for 2013, which included thirteen total in the state of Hawaii. The list is decided by nearly 47,000 of the magazine's readers, who vote on the best places to stay.… Continue Reading

Maui Real Estate Prices and Sales Up in November

Posted on December 14, 2012
Maui Real Estate Prices and Sales Up in November

By Mark Harbison

In our recent blog entries, we covered falling unemployment rates and rising personal income within Maui County, and now the Maui real estate numbers are in for November. They don't buck the trend of economic growth.

According to the Realtors Association… Continue Reading

Kihei High School Project Moving Forward

Posted on December 07, 2012
Kihei High School Project Moving Forward

By Mark Harbison

After a long wait, the Kihei High School project is moving forward with Governor Neil Abercrombie's endorsement of its final environmental review. This is great news for those with families who want to purchase real estate in South Maui. For many families, Maui… Continue Reading

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Mark and Lisa

Mark A Harbison
R(B) (GRI) (CIPS) (TRC)

Mark@RealEstateMauiHawaii.com

(808) 283-3785

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