Hotel room rates on Maui dropped 16 percent as of November 14th to an average of $188 per night. Of course, mid-November is one of the slowest times of the year for the Hawaii visitor industry, which tourists should keep in mind if they prefer a lower density of other visitors on their vacation.
Room rates have dropped for all the major islands, in fact. Oahu fell 8.8 percent to $144, Kauai dropped 4.3 percent to $176, and the Big Island fell 4.3 percent to $146 per night.
Statewide, hotel occupancy fell an average of 3.9 percent to 63.5 percent and room rates dropped 10.1 percent to a total average of $157. Hotel occupancy is not only falling in the state of Hawaii. Nationwide, that number dropped by 3.6 percentage points to 52.6 percent and room rates subsequently fell 9.9 percent to an average of $95 per night.
This research indicates that the tourism industry is still in flux, as are many others. It will be interesting to see things level off and find a stable equilibrium. As they say, there is no bell that rings when the market hits the bottom, so for those who are in a position to travel, strike while the iron is hot and things are affordable. This applies to both the tourism industry in Hawaii and the housing market.
We recommend a look at new Maui property listings as well as our Maui real estate listings. If you have any questions or would like to contact us, you can call (866) 874-1942 toll free or Lisa’s cell at (808) 283-7426. You can also email email@example.com or firstname.lastname@example.org.