Timeshare resorts report occupancy rate of 91.8% in Q3
The Maui News
Maui County timeshare properties reached an average occupancy rate of 91.8 percent in the third quarter from July through September this year, according to a report released by the Hawai’i Tourism Authority.
The occupancy rate is 1 percentage point higher than the same period in 2017, it reported. Meanwhile, the county’s third-quarter occupancy for hotels was 76.6 percent.
The report is based on a survey of 15 participating timeshare properties and 3,098 units, according to Jennifer Chun, director of the authority’s tourism research.
During the third quarter, owner occupancy accounted for 51.8 percent of occupied rooms at Maui County timeshare resorts, the authority said. Exchange use made up 22.5 percent of occupied room nights, and transient occupancy represented 16.9 percent.
Maui County saw 81,847 timeshare visitors in the third quarter, the authority said. And, the timeshare market accounted for 10.7 percent of all visitor arrivals on Maui during the quarter. Timeshare visitors spent on average 8.8 days in Maui County.
The county’s participating timeshare properties generated $12.2 million in state and county taxes. There was $9.5 million in property taxes for the county’s coffers.
Employment was down in the third quarter at timeshare properties in the county. The authority’s report said there was a 1.5 percent decrease in the total number of resort operations employees and a 3.3 percent drop in the number of sales and marketing employees. The timeshare properties reported payroll of $10.6 million in the third quarter.
Statewide, Hawaii’s timeshare industry saw an occupancy rate of 90.1 percent in the third quarter, unchanged from the same period in 2017. The statewide hotel and condo occupancy rate was 79.7 percent.
Participation in the survey was 82.1 percent of registered timeshare units statewide, representing 53 participating properties and 9,665 units.