According to tourism officials, the growth of timeshare properties and interest in vacation ownership in the area will help Hawaii break its record of visitors for the year.
Based on data provided by the Hawaii Tourism Authority, timeshares saw a 4.9% increase within the first three months of 2015.
At a Chamber of Commerce Hawaii event this past Monday, Carl Bonham, the executive director at the University of Hawaii economic research organization, made the prediction, stating, “Total visitor arrivals hit a record in 2014, and we’ll hit one in 2015.”
Popular Oahu hotels have dramatically increased (in some cases doubled) room rates, which Bonham believes has been a factor in visitors shifting interest to Hawaii timeshare resorts.
Daniel Nahoopii, Tourism Authority Director, claims that the spike in timeshares may also be due to returning tourists looking for greater variety in their vacation accommodations.
“What we are seeing is that hotel usage hasn’t really dropped,” Nahoopii said. “It’s just that more people are coming, and they are staying in other accommodations like vacation rentals, condominiums and timeshares.”
CEO of the American Resort Development Association (ARDA), Howard Nusbaum, stated “Hawaii is the most sought-after timeshare destination, with nearly $1 billion in sales. At 85.2 percent you’ve also got the highest timeshare occupancy in the U.S.”
Nusbaum also reported that the timeshare industry generates an annual 4,000 jobs, with $100 million in wages and $67 million in tax revenue in Hawaii.
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