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Wednesday, May 9, 2018
Hawaii Timeshares Average 89.5% Occupancy for 2017
By News Release @ 7:57 PM :: 3820 Views :: Hawaii Statistics, Tourism

Hawai‘i Timeshare Properties Averaged 89.5 Percent Occupancy in 2017

From  HTA, May 9, 2018

HONOLULU – Hawai‘i’s timeshare industry reported occupancy of 89.5 percent statewide in 2017, a slight 0.2 percentage point decrease versus 2016, according to data released today by the Hawai‘i Tourism Authority (HTA). In comparison, occupancy of hotel properties statewide averaged 80.0 percent in 2017.

Jennifer Chun, HTA tourism research director, said, “Timeshare properties continue to be a healthy and reliable segment of Hawai‘i’s tourism industry, with the rate of occupancy for 2017 remaining similar to 2016 even though more total units were added statewide.

“In addition, strong timeshare performance did not come at the expense of the hotel industry, as both lodging segments performed well last year.” Timeshare usage was up by 5.1 percent in 2017, while hotel usage increased by 4.0 percent.

Timeshare in the Hawaiian Islands has maintained a consistently high rate of occupancy for each of the past five years (2013-2017), both at a statewide level and for each island county (Figure 1).

In 2017, timeshare occupancy statewide averaged 92.6 percent in the first quarter, 88.2 percent in the second quarter, 90.1 percent in the third quarter, and 87.2 percent in the fourth quarter (Figure 2). By comparison, hotel occupancy statewide averaged 81.2 percent in the first quarter, 79.1 percent in the second quarter, 81.4 percent in the third quarter, and 78.6 percent in the fourth quarter (Figure 3).

Timeshare occupancy rates statewide decreased overall in the last three quarters of 2017 due to new units entering the market. This included the opening of two new timeshare properties on O‘ahu and Maui, and units being added to an existing timeshare property on the island of Hawai‘i.

Chun said, “The market absorbed the increase in supply of timeshare units, demonstrating consumer demand for an investment in future vacations to Hawai‘i.”

The Hawaiian Islands welcomed a total of 839,024 timeshare visitors in 2017, a 5.1 percent increase over 2016. Of that total, 77.1 percent stayed exclusively at a timeshare resort, a similar rate to the previous year. The remaining 22.9 percent of timeshare visitors also stayed at another type of lodging during their trip.

In 2017, timeshare visitors statewide accounted for 9.1 percent of all Hawai‘i visitor arrivals and had an average length of stay of 10.2 days. Both figures were comparable to 2016.

Owners of Hawai‘i timeshare units comprised 57.8 percent of occupied room nights in 2017, while visitors participating in a timeshare exchange program accounted for 18.4 percent of occupied room nights (Figure 4). Transient rentals, which also includes rentals of units to timeshare owners and exchangers beyond their allotted stay, represented 16.3 percent of occupied room nights. The remaining balance, 7.4 percent, was utilized for sales and marketing purposes.

Timeshare properties participating in HTA’s quarterly timeshare surveys paid a total of $87.1 million in state and county taxes in 2017, with real property taxes encompassing 45.6 percent of total taxes.

O‘ahu welcomed 335,337 timeshare visitors in 2017, an increase of 8.3 percent year-over-year. Timeshare occupancy on O‘ahu was the highest of the four island counties, averaging 91.9 percent in 2017. However, this was a 1.7 percentage point decrease compared to 2016, due to the increase in supply with the opening of the 411-unit Hilton Grand Islander resort in March 2017. O‘ahu’s hotel occupancy, by comparison, averaged 83.3 percent in 2017, a 0.7 percentage point decrease.

Maui County received 304,951 timeshare visitors in 2017, an increase of 2.7 percent over 2016. Timeshare visitors represented 11.0 percent of all Maui County visitors during 2017, which was equivalent to 2016. Timeshare occupancy averaged 91.3% in 2017, a 1.7 percentage point decrease from 2016. Contributing to the decline in occupancy was the increase in supply with the opening of the new 195-unit Westin Nanea Ocean Villas in April 2017. Hotel occupancy for Maui County was 77.1 percent in 2017.

Timeshare occupancy on Kaua‘i averaged 86.7 percent in 2017, a 0.4 percentage point decrease from 2016. This decline is consistent with a 1.4 percent decrease in timeshare visitors to 210,904 in 2017. In contrast, hotel occupancy on Kaua‘i rose 3.0 percentage points to 75.7 percent.

Timeshare properties on the island of Hawai‘i reported occupancy of 85.2 percent in 2017, a 0.2 percentage point decrease compared to 2016. The decline in the occupancy rate was impacted by an increase in supply, with Marriott’s Waikoloa Ocean Club adding 112 timeshare units in 2017. Hotel occupancy for the island of Hawai‘i averaged 74.4 percent in 2017.

HTA’s Hawai‘i Timeshare Quarterly Report for the fourth quarter and full year of 2017 was prepared by Kloninger & Sims Consulting LLC. The timeshare survey findings for the fourth quarter are based on data provided by 52 individual timeshare properties representing 81.3 percent of registered timeshare units statewide.

To see the reports at HTA’s website: http://www.hawaiitourismauthority.org/research/research/infrastructure-research/.

SA: Hawaii’s timeshare industry absorbs new inventory, grows slightly

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