Rapid changes in an industry that grew very quickly. Hawaii vacation rentals are under pressure following this news.
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41 thoughts on “1,300 Jobs Culled At Largest Hawaii Vacation Rental: Shocks Industry”
Rapid changes in an industry that grew very quickly. Hawaii vacation rentals are under pressure following this news.
We recently rented from Vacasa for just 2 days and were deluging by their annoying emails that went on and on even after the rental. Also the management costs equaled the rental fees. We would never rent through them again.
Every vacation home owner I know is unhappy with vacasa. They have marginalized local community rental agencies and wages. One owner told me phone support was in Asia and useless. A layoff of 1300 people in Hawaii is bad, but the local agencies will hire them back. The vacation market in Hawaii is strong. Expedia and Airbnb surveys show that vacation travel is very important to consumers in 2023, and they are still willing to spend $ on domestic and international locations. Mahalo and thanks, Mark
I wanted to take my family on an inter island vacation in a couple months. However, with hotel costs as high as they are it’s cheaper to fly and stay on the mainland than it is to do an inter island vacation.
Well the problem is they do not know how to manage units . They dont stress to old elderly owners that do not want to put a pennie to update there (1970) units that are dated with old furniture an bedding etc. But owner still charges like its updated. The management teams have no experience in manage owners .These are commercially run places an that’s what’s missing.
I see opportunity for a great operator.
Our Maui condo rental agency sold out to Vacasa. We changed agents as quickly as we could. We have decades of experience both owning and managing rental properties, mostly on the mainland. Their customer service was terrible. We switched to a local company and the difference has been night and day.
To me it sounds like Vacasa has a good, profitable, business model, however, they have spent too much time growing while not dedicating enough time and effort to control their spending and other essential controls which are plaguing the business. To that end if they don’t address those problems they will be in receivership within 18 months. The Hawaiian Market “Could” become a losing proposition within the next few months depending upon a Court Decision of a case that should begin within the month pitting Oahu Council’s unreasonable Overreach against STR Owners Property Rights. If the Property Owners are Successful the STR Market will continue and Hopefully can recover losses incurred. If they lose the Owners, STR’S, and Tourists Lose.
After dealing with Vacasa once, I would Never secure a rental through them again. There is no way to deal with one individual, no common thread with an issue. Had to explain problem at least 10 times to 10 different people before issued resolved. No one bothered to contact me after writing a letter of complaint. Love dealing with other local Hawaii property management companies.
Our experience was the same. They refuse to give any documentable information. No last names, no direct phone numbers, no titles, never take any responsibility or action. Terrible company.
We rented at Mahina Surf for years. Then Vacasa took over
Fees are high, rent has doubled per day
No more Vacasa for us
Vacasa is the worst. I reported them to the North Carolina Real Estate Commission and NCREC “slapped their fingers” no penalties. Vacasa put the blame on housekeeping, but problems obviously were not them. The property had broken (slum-like) furniture in almost every room, roaches, and they ignored our complaints. Rented for 2 wks and left after 1. Had to fight to get money for week we left. They tried to gaslight us – after we left, they replaced some furniture and said how wonderful it was and we missed out! Vacasa doesn’t treat owners or renters fairly by outrageous charges with no real value. They buy mom and pop real estate companies removing any real choice for renters. Avoid them! Never had a problem w/VRBO or AirB&B in 20 yrs.
AirB&B is no better, my friend, although more responsive to guests than hosts