Introduction
When it comes to investing in the Airbnb market, few destinations can rival the allure of Kihei, Hawaii. Located on the beautiful island of Maui, Kihei offers stunning beaches, a tropical climate, and a thriving short-term rental market that is a dream come true for both property owners and vacationers. In this blog post, we’ll explore the current state of the Airbnb (or short-term) rental market in Kihei, HI, and provide valuable insights for those considering an investment in this tropical paradise.
Key Data Points
Let’s begin by looking at some crucial data points that provide a snapshot of the short-term rental market in Kihei:
Property Appreciation and Value
- Homes in Kihei depreciated by 1.00% according to Zillow.
- The median home value stands at an impressive $1,117,994, according to Zillow.
Short-Term Rental Supply and Performance
- Chalet reports a total of 5,524 active short-term rentals in Kihei.
- The average daily rate for these rentals is $426.20, making it a lucrative market.
- Occupancy rates are high at 73%, ensuring steady bookings and income.
- Annual revenue for short-term rentals averages a remarkable $87,900.
Investment Metrics
- The average gross yield for short-term rentals in Kihei is an attractive 7.86%.
- Property tax is relatively low, averaging 0.32% according to SmartAsset.
These statistics indicate that Kihei, HI, offers a robust and profitable short-term rental market, making it a hotspot for Airbnb investors. Now, let’s address some common questions related to Kihei, HI:
Top 200 Airbnb Rental Markets
Instantly compare top 200 short-term (Airbnb) rental markets in the US
Instantly compare top short-term rental (Airbnb) markets in the US by gross yield, occupancy rates, revenue, and a lot more…
Frequently Asked Questions
1. What is the median household income in Kihei, HI?
The median household income in Kihei, HI, is $83,293, reflecting a comfortable standard of living.
2. What is the climate of Kihei, HI?
Kihei enjoys a tropical climate with warm temperatures year-round. It is known for its sunny and dry weather, making it an ideal destination for vacationers.
3. What is the population size of Kihei, HI?
As of my last knowledge update in January 2022, Kihei’s population was approximately 21,140 residents. This number may have changed slightly since then.
4. What sports teams are based in Kihei, HI?
Kihei, being a smaller town on Maui, doesn’t host major professional sports teams. However, it’s a paradise for water sports enthusiasts and outdoor activities.
5. What colleges are located in Kihei, HI?
Kihei doesn’t have any colleges or universities within its boundaries. Students often commute to other parts of Maui or the nearby island of Oahu for higher education.
6. What is the crime rate in Kihei, HI?
Kihei is generally considered a safe and peaceful community. Crime rates are relatively low, especially compared to larger urban areas.
7. Where are the visitors coming from to Kihei, HI?
Kihei attracts visitors from various parts of the world, with a significant portion coming from the mainland United States and Canada.
8. What is the total number of visitors to Kihei, HI?
Kihei, being a popular tourist destination, welcomes a substantial number of visitors annually. The exact number may vary from year to year.
9. What are the biggest tourist attractions in Kihei, HI?
Some of the most popular tourist attractions in Kihei include its stunning beaches, vibrant marine life for snorkeling and diving, scenic parks, and the vibrant Kalama Park.
10. When is the peak season in Kihei, HI?
The peak tourist season in Kihei typically runs from December to April when visitors flock to escape colder climates and enjoy the warm Hawaiian weather. During this time, Airbnb rentals experience high demand and can command premium rates.
Conclusion
Kihei, HI, is a tropical paradise not just for vacationers but also for savvy investors looking to enter the thriving Airbnb or short-term rental market. With stunning beaches, favorable property appreciation trends, and impressive financial metrics, Kihei offers an enticing opportunity for those considering a profitable vacation rental investment. If you’re thinking about dipping your toes into this real estate market, Kihei should definitely be on your radar.
