Why Maui is a Great Place to Invest in STRs
Sure, Maui is known for its beautiful beaches, warm weather, luscious rainforests, waterfalls, hiking, surfing and a myriad of other water activities, but did you know that Maui is also a great place to invest in short-term rental properties? Well it is. Here’s why.
Maui’s tourism industry is booming. We literally play host to millions of tourists each year, all of whom need a place to stay while they’re here.
We have a pretty wide variety of short-term rental properties on the island. From luxury resorts to cozy cottages, there’s something for every type of traveler, and every type of investor. Whether you’re looking for a high-end property on the beach or something more affordable, Maui has something to offer. Ok, well maybe “more affordable” is a relative term.
With a high demand for rental properties and limited supply – they’re not making any more short term rental approved properties on the island, investors can expect steady rental income and good returns on their investment. In fact, because of our high level of demand, we’ve seen crazy growth in nightly rates over time.
Unlike other markets that can be subject to fluctuations, the Maui’s real estate market is known for being stable and predictable, which is great news for investors looking to invest in short-term rental properties.
And with no real slow season ( I mean, our weather is typically between 82 and 88 degrees all year long) you can expect pretty solid occupancy rates all year long.
Finally, investing in short-term rental properties on Maui can be a great way to diversify your investment portfolio. This type of investment can provide a steady stream of income, along with giving you the added bonus of a pretty nice place to get away.