Curious about the performance of short-term rentals in Honolulu, United States? Over the last year, the average occupancy rate was 74% with an ADR (Average Daily Rate) of 251€. Hosts earned on average 5172€ per month.

90-day occupancy forecast for Honolulu so you can update rates and stay ahead of competitors.
Key metrics to optimize your pricing strategy
Avg. Monthly Revenue
5172€
$4707 USD
YoY Revenue Change
-8%
vs. previous year
Occupancy Rate
74%
~22 days/month
Average Daily Rate
251€
$228 USD
Seasonality Index
37%
demand variation
Best Months
July, March
peak season
Worst Months
September, November
low season
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Honolulu runs a 74% average occupancy across about 266 booked nights a year, a striking 18 points above the US 56% national average and the standout occupancy figure in this batch. Its 251 euro average daily rate (about 228 dollars) is by far the highest here, and combined with that occupancy it produces average monthly revenue of 5,184 euros (around 4,713 dollars) per listing, more than double any other city in this group. This is a genuine premium market.
The one cautionary note is a 9% year-on-year revenue decline, the steepest drop in this batch, likely reflecting the tightening regulatory environment and supply adjustments rather than weak demand, since occupancy remains exceptional. The modest 37% seasonality index confirms steady year-round demand. Read together, the numbers describe a high-value, high-occupancy resort market whose economics are being reshaped by regulation, where a legal, resort-zoned permit is the gateway to outsized returns.
Average occupancy rate by month in Honolulu, compared with the same month a year earlier.
| Month | Occupancy | Prior year |
|---|---|---|
| Jul 2025 | 78.5% | 81.8% |
| Aug 2025 | 75.7% | 78.4% |
| Sep 2025 | 70.8% | 74.1% |
| Oct 2025 | 72.5% | 73.4% |
| Nov 2025 | 68.9% | 71.5% |
| Dec 2025 | 79% | 75.7% |
| Jan 2026 | 76% | 77.7% |
| Feb 2026 | 79.9% | 82.2% |
| Mar 2026 | 75.8% | 76.3% |
| Apr 2026 | 74.2% | 75% |
| May 2026 | 74.3% | 75.4% |
| Jun 2026 | 75.6% | 75.1% |
📌 Historical trends reveal seasonal highs – plan accordingly.
These figures reflect real-time demand in Honolulu, helping you plan and price strategically.
Honolulu, on the island of Oʻahu, is one of the world's premier beach-and-resort destinations, and its short-term rental demand is driven by high-value leisure tourism. Waikiki's hotel-and-beach strip, the surf at Diamond Head, the memorials at Pearl Harbor and the city's role as the arrival point for nearly all visitors to Oʻahu generate deep, year-round demand. Travellers come from the US mainland, Japan and across Asia-Pacific, drawn by warm weather, world-class beaches and the island's outdoor and cultural attractions, with Daniel K. Inouye International Airport feeding the flow.
This is a premium, supply-constrained resort market shaped heavily by regulation. With around 675 active listings tracked, Honolulu has one of the larger and most valuable STR bases in this batch, but strict county rules concentrate legal short-term letting into specific resort-zoned areas. Demand is robust and consistent enough that the market sustains the highest rates and revenue in this group, anchored by Waikiki's resort core and the steady pull of Hawaii as a bucket-list destination.
Honolulu is a remarkably steady market for a beach destination, with a seasonality index of just 37%, reflecting Hawaii's year-round warm climate and consistent visitor flow. The strongest months are July and March, lifted by US summer travel and spring-break demand, while September and November are the softest, the classic shoulder lulls between summer and the winter holiday surge. Even so, the swings are modest by resort standards.
The monthly series confirms the stability: occupancy rarely strays far from the 70s, peaking around 82% in February 2025 and holding near 79% through the December holidays, with the quietest months still in the high 60s. There is no dead season here, only gentle ebbs. For operators, this is the dream profile, a destination that fills reliably all year, so the strategy is less about surviving a deep off-season and more about optimising rates around the summer and holiday peaks while keeping the shoulder months strong with steady pricing.
Waikiki is the heart of legal short-term rental activity, its resort-zoned blocks of beachfront condos and hotel-condos commanding premium rates and steady occupancy from the constant tourist flow. This is where most compliant STR stock sits, near the beach, dining and Kalākaua Avenue.
Beyond Waikiki, Ko Olina on the leeward west side offers a planned resort enclave with lagoons and resort-zoned units suited to families and longer stays. Ala Moana and Kakaʻako, just west of Waikiki, blend urban condos with shopping and dining, though much of their stock falls outside resort zoning. Diamond Head and Kāhala offer upscale, quieter positioning. Across Oʻahu, the decisive factor is zoning: legal short-term letting is largely confined to resort-designated areas, making a unit's permit status far more important than its view.
Honolulu (the City and County of Honolulu, covering all of Oʻahu) has some of the strictest short-term rental rules in the United States. Under Ordinance 22-7 (Bill 41, 2022), rentals shorter than 90 days outside designated resort and apartment-zoned areas are heavily restricted, with legal short-term letting largely confined to resort zones such as Waikiki and Ko Olina. The ordinance also imposed operational requirements covering occupancy limits, guest registries and in-unit information.
The regime has been contested in court: federal rulings blocked parts of the 90-day minimum and protected certain pre-existing 30-day uses, so the practical enforcement threshold and the status of grandfathered properties have been in flux. Given this legal uncertainty and ongoing policy changes, anyone entering the Honolulu market should not assume a unit can be legally let short-term based on location alone; verify the property's specific zoning and permit status directly with the City and County of Honolulu's Department of Planning and Permitting before buying or onboarding.
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* Calculations based on 30 days/month. Actual results may vary depending on market, season, property type, and implemented strategy.
Honolulu averaged about 74% occupancy over the analysis period, roughly 266 booked nights a year. That is a striking 18 points above the US 56% national average and the highest occupancy in this batch. Thanks to Hawaii's year-round warm climate, demand is remarkably steady, with occupancy rarely straying far from the 70s in any month.
July and March are the strongest months, lifted by US summer travel and spring break, while September and November are the softest shoulder lulls. But with a low 37% seasonality index, there is no dead season, occupancy peaks near 82% and stays strong through the December holidays. Optimise rates around the summer and holiday peaks while keeping shoulder months priced steadily.
Yes, and zoning is decisive. Under Ordinance 22-7 (Bill 41), short-term letting under 90 days outside designated resort and apartment zones is heavily restricted, so legal STRs are largely confined to areas like Waikiki and Ko Olina. Court rulings have left enforcement and grandfathered uses in flux. Verify a property's specific zoning and permit status with the City and County's Department of Planning and Permitting before committing.
Waikiki is the heart of legal STR activity, its resort-zoned beachfront condos commanding premium rates and steady occupancy. Ko Olina on the west side offers a resort-zoned, family-friendly enclave for longer stays. Ala Moana and Kakaʻako blend urban condos with shopping but much falls outside resort zoning, while Diamond Head and Kāhala are upscale and quieter. Permit status matters far more than the view.