Aloha dear friends,
What makes a vacation rental successful in Hawaii?
I feel presenting an unbelievable experience that will keep your guests coming back year after year is key.
In my experience and years of managing vacation rental properties, I have found going the extra mile and thinking outside the box is important when purchasing a vacation rental property in Hawaii. As the beauty of Hawaii sells itself, it’s pretty easy to stay on top of your game here.
7 Tips For a Successful Hawaii Vacation Rental
1. Find a proven, successful vacation rental.
Purchasing an existing vacation rental home with proven numbers of income and expenses is important. This will make buyers feel more comfortable in the protection of profits they will receive and take advantage of tax deductions available. Understanding the ins and outs of the deductions is important.
2. Avoid timeshare properties.
Always make sure you read the fine print as with timeshares you could be paying more than needed and having extra costs that are not significant in the vacation rental programs.
3. Respond to inquiries ASAP.
It is important to respond to booking inquires within 10 minutes of inquiry and responding in a polite and enthusiastic manner.
4. Location, location, location.
People obviously come to Hawaii for the beaches and having a prime location close to the ocean is a huge benefit in the success of a vacation rental.
5. Have excellent property management.
Proper management there are many amazing management companies here on the island and finding a management company that could meet your needs and is available to your guests if you are not on island. They do take a percentage from 10%, Evolve is a great company. Then more local companies take between 20% to 30% of the vacation booking incomes, and what’s great is they handle any and all issues that may come up. Say the laundry machine is not working or guests are having issues trying to get in. This will definitely give you peace of mind.
I’ve always enjoyed presenting local Hawaii Chocolate upon the arrival or fresh flowers or a beautiful thank you card from a local artist. There are so many creative ways to make guests feel extra special while enjoying your home.
6. Maximize web exposure.
Maximize your platforms for extra exposure is a wonderful avenue especially with the Internet having so many different booking platforms available from Airbnb, VRBO, and even Expedia. Promoting your vacation rental on as many platforms as possible. Here is a list I found of 50 vacation rental platforms to promote your home.
7. Follow up with guests.
Make sure the management company you hire has a good follow-up system. A brief questioner to see how you can improve your rental is a nice gesture.
Here are 6 Areas I Recommend For Vacation Rental Property on Big Island:
- Kona – in the heart of Kona
- Mauna Lani
- Waikoloa Beach
- Puako, no HOA fees
- Mauna Kea Resort
- Four Seasons Hualalai
I have always felt multiple streams of income are powerful, and having a vacation rental in a top travel destination like Hawaii, in my opinion, you cannot go wrong. I have a number of clients who are ecstatic about their investment home here in Hawaii and gives them the freedom to come and enjoy Hawaii without all the expenses that a normal vacation would cost.
Making money while you sleep and owning a slice of heaven in Hawaii, there is nothing more exhilarating and refreshing.
If you are looking for a vacation rental property to invest in, contact me today, and let’s make your Hawaii Dream a reality.
808 333 2127