Occupancy rate at Hawaii hotels not doing too badly considering

Occupancy rates for all of Hawaii hotels stood at 67% down only 1% from this week last year.  This is a remarkable feat considering that Japanese arrivals have been down 17 to 25% since the earthquake and subsequent tsunami.  Even better news is that room rates actually rose from this time last year.  Oahu occupancy rate stood at 70.8% down 1.5% from last year and this is good news considering the vast majority of Japanese visitors stay in Waikiki.  Maui and Kauai were on average saw a 1% point increase in occupancy rates from last year.

The average room rate for the entire state was $199.48 up a huge 18.9%.  This number was driven largely by a 33% increase in rates on Maui which has much higher room rates than Oahu.  Oahu saw average room rates of $166.77 which was up 13.3% over this week last year.  This is just more proof of Hawaii’s economic recovery.

To learn more about the Hawaii real estate market contact Malia L. Meenderman, R, Bonnebaker LLC.