Fifteen percent occupancy should stop you in your tracks — that's not a quiet season, that's a market that's genuinely struggling to fill beds despite commanding $359 a night. The rate jump of 73% year-on-year sounds extraordinary until you realise operators are pricing harder precisely because they can't rely on volume, and nearly 24,000 active listings are all chasing the same thin demand. Occupancy has slid two points over two years with no sign of reversing. Hawaii's short-term rental regulations have been tightening at county level — Maui and Oahu have introduced serious restrictions — so supply may shrink, but don't bank on that saving you. At these occupancy levels, the numbers don't stack for a new buyer.
Year-over-year performance
Compared to the closest snapshot from approximately 12 months ago, the Hawaii short-term rental market has shifted in measurable ways. Occupancy among active listings is down 0.5 points, while the median daily rate is up 72.6 percent.
Looking further back: Two years ago, 2.2 points higher.
When Hawaii Airbnbs perform best
Occupancy in Hawaii peaks in October at 49% and bottoms out in August at 29%, a 20-point swing across the year. Price the peak, defend the shoulder months with minimum-stay rules, and budget the trough as empty.
| Month | Occupancy | Median nightly rate |
|---|---|---|
| January | 46% | — |
| February | 45% | — |
| March | 36% | — |
| April | 31% | — |
| May | 29% | — |
| June | 31% | — |
| July | 31% | — |
| August | 29% | — |
| September | 41% | — |
| October | 49% | — |
| November | 44% | — |
| December | 45% | — |
Looking ahead, 45% of the next 30 nights are already booked across the market, 43% of the next 60 and 45% of the next 90 (as of 2026-10-18).
How Hawaii compares to United States
Benchmarked against 34 other United States markets we track, Hawaii's metrics tell a clear story.
What kind of Airbnbs are in Hawaii?
Of the 23,915 active operating listings, 92.6% are entire homes (vs private rooms), and 63.3% are operated by Airbnb Superhosts.
Top neighborhoods in Hawaii
The 30 neighborhoods we track range from established tourist hotspots to emerging investment zones. Here are the 10 strongest by median annual revenue per listing, led by Lanai at £51,149 a year.
| Neighborhood | Listings | Occupancy | Annual revenue | RevPAR | YoY |
|---|---|---|---|---|---|
| Lanai | 3 | 32.9% | £51,149 | £140 | -24.6 pts YoY |
| Waimea-Kekaha | 21 | 24.7% | £50,363 | £138 | -2.5 pts YoY |
| Makawao-Pukalani-Kula | 30 | 53.5% | £45,931 | £126 | -3.2 pts YoY |
| Hana | 68 | 39.5% | £42,707 | £117 | +6.6 pts YoY |
| Koolauloa | 501 | 32.9% | £42,584 | £117 | +0 pts YoY |
| Waianae | 235 | 32.9% | £28,568 | £78 | -9.8 pts YoY |
| Paia-Haiku | 181 | 19.7% | £23,223 | £64 | -5 pts YoY |
| North Shore Oahu | 162 | 31.8% | £22,259 | £61 | -1.1 pts YoY |
| Koolaupoko | 226 | 31.8% | £22,157 | £61 | -1.1 pts YoY |
| Ewa | 488 | 15.9% | £21,174 | £58 | +2.7 pts YoY |
Frequently asked questions
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