Transient Vacation Rentals on Oahu: Socio-Economic and Fiscal Impacts and Policy

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Dr. Prahlad Kasturi
Dr. Prahlad Kasturi
2
Dr. Thomas A. Loudat
Dr. Thomas A. Loudat
1 Radford University

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GJMBR Volume 18 Issue B6

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We estimated the socio-economic and fiscal impacts of Short Term Rentals (STRs) on the City and County of Honolulu. The study was commissioned by the Hawaii Vacation Rental Owners Association (HVROA) on the island of Oahu in 2012. The study was aimed at informing the debate on the Planning Commission’s draft bill and underlining the economic consequences of the Department of Planning and Permitting’s announced intent to strengthen existing law and shut down STRs without permits in the near future. Our study showed significant economic benefits to the populace of Oahu. These included contributions to economic output between $752.3 million and $1.10 billion, contributions to earnings between $240.6 million and $339.2 million along with the generation of 7,566 to 9,993 jobs in the County. Several articles appearing in October 2017 both in the Honolulu Star Advertiser and the Honolulu Travel Forum show that Oahu is still looking at Short Term Rental regulation changes. Thus the issue which is an ongoing concern could benefit from the policy discussion in the paper.

Funding

No external funding was declared for this work.

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The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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Not applicable for this article.

Dr. Prahlad Kasturi. 2018. \u201cTransient Vacation Rentals on Oahu: Socio-Economic and Fiscal Impacts and Policy\u201d. Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 18 (GJMBR Volume 18 Issue B6): .

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Issue Cover
GJMBR Volume 18 Issue B6
Pg. 25- 45
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Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-B Classification: JEL Code: Z13
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v1.2

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September 7, 2018

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English

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We estimated the socio-economic and fiscal impacts of Short Term Rentals (STRs) on the City and County of Honolulu. The study was commissioned by the Hawaii Vacation Rental Owners Association (HVROA) on the island of Oahu in 2012. The study was aimed at informing the debate on the Planning Commission’s draft bill and underlining the economic consequences of the Department of Planning and Permitting’s announced intent to strengthen existing law and shut down STRs without permits in the near future. Our study showed significant economic benefits to the populace of Oahu. These included contributions to economic output between $752.3 million and $1.10 billion, contributions to earnings between $240.6 million and $339.2 million along with the generation of 7,566 to 9,993 jobs in the County. Several articles appearing in October 2017 both in the Honolulu Star Advertiser and the Honolulu Travel Forum show that Oahu is still looking at Short Term Rental regulation changes. Thus the issue which is an ongoing concern could benefit from the policy discussion in the paper.

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Transient Vacation Rentals on Oahu: Socio-Economic and Fiscal Impacts and Policy

Dr. Prahlad Kasturi
Dr. Prahlad Kasturi Radford University
Dr. Thomas A. Loudat
Dr. Thomas A. Loudat

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