It sure is a good time to be in the short-term rental business!
This past February, over 137,000 visitors arrived to the Big Island of Hawai’i, a 23.7% increase from February of 2022. Our island kept pace with the rest of the state in growing both our total number of visitors and total spending, with most metrics now either rivaling or overtaking entirely the comparable 2019 figures, according to the latest monthly economic indicator report released by the Department of Business, Economic Development, and Tourism (DBEDT) released this month.
What’s more, international visitors increased by a whopping 255% year-over-year, with 16,500 flights from abroad touching down in either Kailua or Hilo. Our friends from Canada and Japan led the way in this regard, with Japan increasing their year-over-year tallies throughout the state by an astronomical +1,122% increase from February of last year!
And speaking of the Aloha State at large, in total 753,750 travelers came for a visit in the month of February—which is the latest monthly stats made available by the DBEDT—with total arrivals by air increasing by 17.6% year-over-year.
With daily passenger counts and spending growing it’s an excellent time to invest in a vacation rental property to add to your portfolio. Thankfully Karen Bail is the Big Island’s #1 expert in all things real estate, including all the ins and outs of ensuring your next property is properly set up with the county for maximum returns. Give her a call today and let’s get going on making 2023 your best year yet!