12 thoughts on “Turbulent Hawaii Vacation Rental News As Vacasa Plummets”
Ben H
I hope they all fail. Vacasa is so greedy, charging $200 for a cleaning fee in top of other fees. These vacation rentals no longer offer a cheaper alternative to hotels. Most times they’re even more expensive than hotels. Maui rentals are like $300 per night or Waikiki at $250 per night and they’re not even in nice condos. Very mediocre accomodations but very expensive indeed. I hope they all fail because of their greed.
Is it possible that we are seeing a possible public response to the Rising Prices in Hawaii? Compared with Resorts and Hotels the Short Term Rental Market is a breath of fresh air. With prices per night averaging less than 20% compared to the alternative it’s easy to see why the STR’S must be eliminated. Even with less rentals available due to whatever circumstances the market isn’t booking that well, could it be reflective of Council’s regulations and the public unsure of if they can book? It seems that it is Industry Wide, is it possible that everyone has Overpriced Themselves and now must sit back waiting for a sign of what to do? With the Entire Resort, Hotel and STR Industry in Hawaii suffering a Loss of Tourists bookings, reexamine!
Beware….we rented a Vacasa property in Oregon recently and it was in bad condition when we arrived. We didn’t stay in the house and they have not return us a reasonable refund. Not sure we will ever use them again.
Lol I work at Vacasa and they may be a lot of things but unprofitable is not one of them. Our 3rd quarter results just posted and we succeeded projections, again.
Our 2nd quarter revenue was $310 million, a 31% year-over-year increase. As I said there’s plenty of issues but our ability to make money isn’t one of them.
The WA/OR coast, where I’m located, is up 550% this year. 🤑😑
Despite the 2nd quarter results that showed Exactly what the consensus was at the time of a Very Strong Rental Season in which basically Every Company And Service of this type did well, weeping over 3rd and then 4th quarter softened market bookings began already! The probability of a “Soft Market” in 2023 is predicted. Vacasa missed their own income projections and expected it through at least 4Q2022. Sounds less “Rosey” then what you’ve indicated as a Whole, good company though. Still a Buy/Hold.
In the current environment of state government a d locals hoping for a decrease in visitor numbers, this will be viewed as a good thing by some. It may even go on to get some rental property owners to sell off and that could lead to a downturn in prices for housing. All to be viewed as good news for locals.
Skip this sounds good to “certain investors” because of the potential for good returns on undervalued housing which will continue to be outside of the price range for the average Hawaiian home seekers. Definitely against your thinking the housing market will take a bit of a drop with the glut of former STR Properties. Once the prices are low enough the feeding Frenzy will begin and drive the housing market to the Expensive Side putting the properties even Further Away from the average Hawaiians Budget and Price Point. It’s Past Time for the State to Build “Affordable Housing” for Hawaiians in sufficient numbers.
What a Debacle for the Big Ticket Resorts and Hotels, Expansions and New Constructions planned to add rooms in a slightly depressed market. 🙁 With a Court Date scheduled for February hopefully the Justice System will rule in favor of the STR Market and Add Fuel to the Fire 🔥 sending a Shockwave at the Council and Hoteliers that will sting their Hands and keep them up at night. Keeping My Prayers going for this Righting of Wrongs.
Aloha Rob+Jeff. Interesting article and not surprising that Vacasa stock plummeted. I have used them 2x’s since they took over Pacific Kauai Real Estate office in Kapaa. Needless to say I was very disappointed when they changed weekly rentals to daily rental rates that were almost twice the amount than before. So I basically paid the same amount for 4 days that I used to pay for 7. Really overpriced for sure. Especially since I found numerous cleaning flaws. Kitchen stove vent/fan caked with bugs/grease that could fall into your pot while cooking. Just 1 example. I clean for a living, so am very detailed oriented on specific things that really matter. I actually got a cleaning refund a year ago because of “terrible cleaning” by their team.
Seeee we jacked up our prices, everywhere not just in Hawaii and we were still booked solid every weekend all summer, how does that scream floundering profits, Debram obviously still stayed with us and so did everyone else. Not saying it’s worth it nor that I agree with the price hike, just disagree with anyone trying to say we didn’t make a pile of money this year.
Your Employer has made quite a lot of money, anyone doubting the results through the end of 2Q2022 just needs to learn how to read. Great for the Company. Projections to the end of 4Q2022 are Not Enthusiastic and Analysts expect the downturn to last possibly into 2Q2023 at least. Profitability to take Hits but still be there. The company is in a good position to whether a short-term market like what is predicted with less overall profits.
I hope they all fail. Vacasa is so greedy, charging $200 for a cleaning fee in top of other fees. These vacation rentals no longer offer a cheaper alternative to hotels. Most times they’re even more expensive than hotels. Maui rentals are like $300 per night or Waikiki at $250 per night and they’re not even in nice condos. Very mediocre accomodations but very expensive indeed. I hope they all fail because of their greed.
Is it possible that we are seeing a possible public response to the Rising Prices in Hawaii? Compared with Resorts and Hotels the Short Term Rental Market is a breath of fresh air. With prices per night averaging less than 20% compared to the alternative it’s easy to see why the STR’S must be eliminated. Even with less rentals available due to whatever circumstances the market isn’t booking that well, could it be reflective of Council’s regulations and the public unsure of if they can book? It seems that it is Industry Wide, is it possible that everyone has Overpriced Themselves and now must sit back waiting for a sign of what to do? With the Entire Resort, Hotel and STR Industry in Hawaii suffering a Loss of Tourists bookings, reexamine!
Good information.
Beware….we rented a Vacasa property in Oregon recently and it was in bad condition when we arrived. We didn’t stay in the house and they have not return us a reasonable refund. Not sure we will ever use them again.
Lol I work at Vacasa and they may be a lot of things but unprofitable is not one of them. Our 3rd quarter results just posted and we succeeded projections, again.
Our 2nd quarter revenue was $310 million, a 31% year-over-year increase. As I said there’s plenty of issues but our ability to make money isn’t one of them.
The WA/OR coast, where I’m located, is up 550% this year. 🤑😑
Despite the 2nd quarter results that showed Exactly what the consensus was at the time of a Very Strong Rental Season in which basically Every Company And Service of this type did well, weeping over 3rd and then 4th quarter softened market bookings began already! The probability of a “Soft Market” in 2023 is predicted. Vacasa missed their own income projections and expected it through at least 4Q2022. Sounds less “Rosey” then what you’ve indicated as a Whole, good company though. Still a Buy/Hold.
In the current environment of state government a d locals hoping for a decrease in visitor numbers, this will be viewed as a good thing by some. It may even go on to get some rental property owners to sell off and that could lead to a downturn in prices for housing. All to be viewed as good news for locals.
Skip this sounds good to “certain investors” because of the potential for good returns on undervalued housing which will continue to be outside of the price range for the average Hawaiian home seekers. Definitely against your thinking the housing market will take a bit of a drop with the glut of former STR Properties. Once the prices are low enough the feeding Frenzy will begin and drive the housing market to the Expensive Side putting the properties even Further Away from the average Hawaiians Budget and Price Point. It’s Past Time for the State to Build “Affordable Housing” for Hawaiians in sufficient numbers.
What a Debacle for the Big Ticket Resorts and Hotels, Expansions and New Constructions planned to add rooms in a slightly depressed market. 🙁 With a Court Date scheduled for February hopefully the Justice System will rule in favor of the STR Market and Add Fuel to the Fire 🔥 sending a Shockwave at the Council and Hoteliers that will sting their Hands and keep them up at night. Keeping My Prayers going for this Righting of Wrongs.
Aloha Rob+Jeff. Interesting article and not surprising that Vacasa stock plummeted. I have used them 2x’s since they took over Pacific Kauai Real Estate office in Kapaa. Needless to say I was very disappointed when they changed weekly rentals to daily rental rates that were almost twice the amount than before. So I basically paid the same amount for 4 days that I used to pay for 7. Really overpriced for sure. Especially since I found numerous cleaning flaws. Kitchen stove vent/fan caked with bugs/grease that could fall into your pot while cooking. Just 1 example. I clean for a living, so am very detailed oriented on specific things that really matter. I actually got a cleaning refund a year ago because of “terrible cleaning” by their team.
Seeee we jacked up our prices, everywhere not just in Hawaii and we were still booked solid every weekend all summer, how does that scream floundering profits, Debram obviously still stayed with us and so did everyone else. Not saying it’s worth it nor that I agree with the price hike, just disagree with anyone trying to say we didn’t make a pile of money this year.
Your Employer has made quite a lot of money, anyone doubting the results through the end of 2Q2022 just needs to learn how to read. Great for the Company. Projections to the end of 4Q2022 are Not Enthusiastic and Analysts expect the downturn to last possibly into 2Q2023 at least. Profitability to take Hits but still be there. The company is in a good position to whether a short-term market like what is predicted with less overall profits.