July set new records for Hawaii’s tourism industry according to a report from the Hawaii Tourism Authority (HTA). If you were considering investing in West Maui real estate with the potential for use as a vacation rental, you may find the following report interesting. Also, it’s a great way to earn some extra cash on your investment.
According to the HTA, Hawaii had no less than 835,417 visitors in July, which is the highest number of any given month, ever. Not only does this news reflect a healthy tourism industry, but a healthier economy throughout the U.S., which is where the majority of these visitors are coming from, and the numbers are only climbing.
Visitors from the U.S. West increased by 5.3 percent, while arrivals from the U.S. East were about the same. Japan arrivals fell by 3.6 percent, while Canada arrivals fell by 3.1 percent. None of this was enough to stop the record, stemming from the growing number of visitors from the West, which is a big market. The decline from Japan is believed to be linked to a reduction in airline seating capacity.
This record was a 2.1 percent increase from the last one, which was set in the same month last year when Hawaii had 818,454 visitors. A little under a thousand came by cruise ship, while the rest arrived via air travel.
Visitor expenditures also increased, adding up to $1.44 billion in July, which was 1.5 percent more than the $1.42 billion spent in July of last year. Last but not least, average daily spending increased by 0.5 percent to $190.20 per person.
Whether you’re interested in buying a second Maui home for your own exclusive use or as a vacation rental, this growing attraction to Hawaii from the West Coast reveals opportunity for returns on that investment. If you need assistance with your search, you’ll find our contact information at the bottom of the page. We’ll be happy to set up a viewing if you have a specific property or properties in mind. If you’re still looking, we’ll be happy to help you with your search as well. Mahalo!