Recent statistics have shown that on average 1 in 24 homes in Hawaii is actually a vacation rental property, on some islands in Hawaii this number is as small as 1 in 8 and this shows no signs of changing anytime soon. Studies have also shown that the majority of short-term rental properties in the area are not by residents. This really shows how popular this location is with vacationers looking for a property throughout the year. This is a huge part of the tourist industry but why exactly is Hawaii so popular for this purpose?
First of all, Hawaii is well known for its sun and amazing beaches. Most people when they think about going on vacation, picture an amazing destination like this. This is definitely the number one reason why people are interested in renting property vacations here but this is by no means the only reason. If you look around the rental market throughout the year, it’s likely that you can get a really good deal on a rental property in Hawaii depending on the type of place you want to go for.
More and more people are renting our their properties or even just a room on Airbnb in Hawaii, to appeal to the many people looking for houses to rent here. The expansion in rental houses has some good points but it’s definitely spelling bad news for residents who are interested in buying properties in Hawaii permanently. The cost to buy houses is being less affordable, with more rental properties being aimed at vacationers throughout the year.
There is no doubt that Hawaii is a beautiful location that people enjoy visiting on their vacation. With a variety of condos, villas, standard apartments are more to rent, you have lots of choice and a big decision on your hands.