How Important Is The Timeshare Industry To Hawaii’s Economy?

hawaiian-timeshare-economyWith an island economy as unique as Hawaii, it’s no surprise tourism is a huge part of the reason the bills continue to get paid, but just how much of those tourism dollars do timeshares play a role in?

The American Resort Development Association (ARDA) recently commissioned Ernst & Young (EY) to conduct a study in order to determine just that. It has been found that the timeshare industry plays an important role in the island’s overall wealth.

The numbers break down as follows:

-$5.3 billion – consumer and business spending

-$1.8 billion – labor income

-$263 million – state and local tax revenue in 2016

-31,727 local jobs

The study also looked at timeshare owners living in Hawaii, and found that, of the 25,683 Hawaiian residents who own timeshares, 16.1 percent own a timeshare in their state.

This may come as a surprise to some, but the numbers show a booming industry and a very bright future for timeshares in the aloha state!

“With 95 resorts and more than 15,000 units, the timeshare industry is an important component of Hawaii’s tourism industry. It accounts for 13 percent of the state’s visitor lodging inventory and has a significant impact in terms of job growth, economic development and consumer spending.” – Mitchell A. Imanaka, ARDA-Hawaii Chairman