HONOLULU — The number of Hawaii properties listed as short-term trip rentals has declined by as much as half compared with the last yr, which is likely the result of the coronavirus pandemic and new restrictions on the industry.
The number of properties being used as trip rentals has declined on all islands, Hawaii Public Radio reported Thursday.
Hotel operators were hit hard by the COVID-19 pandemic, with more than 75% of rooms across the islands empty within the normally busy month of December. Bookings for trip rental properties were also down.
All of the state’s island’s experienced occupancy decreases of at least 25% year-over-year from the 2019-2020 holiday season.
Hawaii island’s rental provides decreased about 43%, he stated.
Maui and Kauai counties skilled contractions in trip leases of about 21% and 23%, respectively.
Economic forecasts predict Hawaii’s visitor industry will remain below 2019 levels for several years, with the short-term rental market likely to follow suit.
One county after another: Hawaii is shutting down trip rentals
County officials on Oahu and Maui increased legal restrictions on short-term rentals and penalties for violators in 2018. The heightened constraints and penalties likely combined with the pandemic recession to produce the supply decrease.
Although fewer people have visited Hawaii since the pandemic began, their visits have lasted for longer periods of time.
Trip rentals could also be occupied even without being listed on booking platforms.
For most individuals, the coronavirus causes mild or moderate signs, like fever and cough that clear up in two to three weeks. For some — especially older adults and people with existing health issues — it can cause more severe illness, including pneumonia, and demise.
