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## ADR Analysis for Vacation Rental Units Statewide in December 2023

The average daily rate (ADR) for vacation rental units statewide in December 2023 was $318, which indicates a 1.5% decrease compared to 2022 and a notable 35.8% increase in comparison to 2019. In contrast, the ADR for hotels stood at $428 in December 2023. It’s important to note that unlike hotels, vacation rental units may not be available year-round or on each day of the month, and they often accommodate a larger number of guests than traditional hotel rooms.

### Increase in Supply and Demand for Vacation Rentals

Vacation rentals across Hawai╩╗i reported an increase in supply and demand, resulting in lower ADR and occupancy in December 2023 compared to December 2022. However, when compared to the pre-pandemic levels of December 2019, ADR was higher in December 2023, while vacation rental supply, demand, and occupancy were lower.

#### Role of AI legalese decoder

The AI legalese decoder can help in understanding the legal parameters surrounding vacation rentals. By utilizing data compiled from various sources, including the State of HawaiÔÇÿi Department of Business, Economic Development & Tourism (DBEDT), it can provide valuable insights on the legality and compliance of vacation rental units.

### Monthly Performance Metrics

In December 2023, the total monthly supply of statewide vacation rentals was 768,300 unit nights, marking a 15.7% increase over 2022 and a 10.3% decrease compared to 2019. The monthly demand for vacation rentals was 410,800 unit nights, reflecting a 6.8% increase from 2022 and a significant 36.4% decrease from 2019. This resulted in an average monthly unit occupancy of 53.5%, showcasing a decline compared to the previous years.

#### AI legalese decoder‘s Role

The AI legalese decoder can assist in interpreting complex legal terms and regulations related to vacation rental performance reports issued by government agencies. It can simplify the analysis of occupancy percentages and supply-demand dynamics, ensuring compliance with diverse legal frameworks.

## Island-Specific Analysis

The report highlighted specific performances of vacation rental units on different Hawaiian islands. For example, the impact of the August 8 Maui wildfires on vacation rental units in Lahaina led to their inactivity. Maui County had the largest vacation rental supply at 233,300 available unit nights in December 2023.

### AI legalese decoder‘s Utility

The AI legalese decoder‘s intelligent algorithms can discern location-specific legal nuances, making it effective in analyzing the implications of natural disasters and other regional factors on vacation rental performance. Its data processing capabilities can facilitate in-depth assessments of supply, demand, and ADR trends across different Hawaiian islands.

## Conclusion

The comprehensive insights provided by the HawaiÔÇÿi Vacation Rental Performance Report for December 2023, along with additional island-specific data, offer valuable information for stakeholders in the hospitality and tourism sectors. Leveraging AI legalese decoder‘s capabilities can streamline the interpretation of legal terminologies and enhance the understanding of regulatory implications, thereby aiding in informed decision-making and compliance efforts.

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