Airbnb Hosts in Hawaii Make HOW MUCH?!

Wondering how much do Airbnb hosts make in one of the most expensive and sought-after vacation markets in the world? Hawaii's short-term rental scene produces some of the most jaw-dropping revenue figures anywhere in the country — including at least one property that crossed $1.2 million in annual revenue.

But headline numbers don't tell the whole story, especially when purchase prices, HOA fees, and operating costs are factored in.

Watch the full video above or keep reading for the complete breakdown.

How Much Do Top Hawaii Airbnb Hosts Actually Make?

Using AirDNA data for the Kailua-Kona market on the Big Island, the top-performing Airbnb property generated $1.2 million in revenue over the last 365 days. The second-best property came in at $907,000. Several others cleared the $750,000 mark.

To put that in context: in most U.S. markets, $750,000 is enough to buy multiple investment properties outright. In Hawaii, a single STR is generating that amount in annual revenue. That's a level of performance that most experienced investors have never seen in a single market analysis.

And this isn't a fluke driven by one outlier property. There are a handful of listings in this one market clearing seven figures or near it. That's what a mature, high-demand, internationally recognized vacation destination looks like when short-term rental demand is firing on all cylinders.

For context, $100,000–$200,000 per year from a well-run STR is considered strong performance in most U.S. markets. Hawaii is operating in an entirely different tier.

What Drives Revenue This High?

The properties generating the biggest numbers in Kailua-Kona share a few common traits worth understanding — because they matter when evaluating any listing, not just the trophy properties.

Location and Views

The $1.2 million property features ocean views, a private garden oasis, and an open-plan design built for entertaining. These aren't incidental details — they're the core product being sold. Guests paying $3,600 per night are buying an experience, not just a bed.

The second-highest earner sits adjacent to a golf course, near a Four Seasons resort, with access to the resort's amenities and neighbor's pool and hot tub. That's a stacked value proposition that commands premium nightly rates even if the interior decor is slightly dated.

Demand Fundamentals

Hawaii is one of the most established short-term rental markets in the world. International travelers, destination weddings, anniversary trips, multi-generational family vacations — the demand drivers are deep and diverse. That stability commands a premium, which is part of why prices are so high. More on that in a moment.

Listing Quality Isn't Always the Deciding Factor

Interestingly, the top-earning property had only 20 photos and 32 reviews — not the polished, optimized listing you'd expect from a million-dollar earner. This suggests a significant portion of bookings may come through direct channels or other platforms beyond Airbnb.

For hosts relying primarily on the Airbnb hosting service, this is a useful reminder: the property itself does much of the selling in elite markets.

For tips on building a listing that competes, 7 Keys to a Great Airbnb Listing is a solid starting point.

What Does a Typical Airbnb Host Earn in Hawaii?

The million-dollar properties are real, but they're outliers. What does a more typical Airbnb host earn in this market?

Using AirDNA's revenue data for 3-bedroom properties in Kailua-Kona accommodating 4–6 guests (223 active listings in the dataset), the numbers break down like this:

• 50th percentile (median): Approximately $98,000–$100,000 per year in recent data
• 75th percentile: Approximately $174,000 projected for recent full-year data
• Top 10% of listings: Substantially higher, approaching the trophy-property territory

The market also showed a dramatic recovery post-pandemic. After dipping in 2020 (Hawaii was hit hard as an international travel destination), bookings surged in 2021 — likely driven by domestic travelers who couldn't fly internationally but were willing to hop a domestic flight to a premier destination.

By recent data, 75th-percentile properties were pacing 34% ahead of the prior year. That's an unusual jump even by STR industry standards.

The leading theory: a massive backlog of destination weddings — Hawaii is one of the most popular wedding locations in the country — combined with general travel demand rebounding all at once.

For investors curious how Hawaii compares to other markets, How Much Do Airbnbs Make in Arizona? offers a useful contrast with a mainland Sun Belt market.

Running the Numbers: A Real Hawaii STR Deal Analysis

To answer the question of whether strong gross revenue actually translates to strong returns, BNB Mastery walked through a real listing currently on the market in Kailua-Kona: a 3-bedroom, 3-bathroom condo at 1,500 square feet listed for $949,000.

This property was previously operated as a short-term vacation rental, which makes it more likely to be licensable again — an important consideration given Hawaii's strict STR licensing requirements. Never buy a Hawaii STR property without verifying local regulations during due diligence.

Purchase Assumptions

• Purchase price: $949,000
• Down payment: 20% (~$190,000)
• Mortgage rate: 6.5% (adjust based on your lender)
• Furnishing cost: ~$11,000 (relatively simple setup for a condo)
• Rehab: $0 (condo in decent condition — always get an inspection)

Revenue Projections

Based on the AirDNA data, three revenue scenarios were modeled:

The $174,000 figure is compelling on paper, but it reflects a data anomaly year. Using it as a base-case projection would be aggressive. The more honest expectation for a condo (not a standalone home) in this price range is closer to $100,000 per year — which, given the cost structure, barely breaks even.

For a deeper look at how to run this kind of analysis yourself, How to Analyze a Short Term Rental Property walks through the full methodology step by step.

The Operating Costs That Eat Into Returns

Hawaii's operating costs are genuinely brutal. Here's what the expense stack looks like for this specific property:

• HOA fees: $1,047/month ($12,564/year) — for a building constructed in 1979
• Property taxes: $218/month ($2,616/year)
• Insurance: ~$3,000/year (estimated; HOA may include some coverage, but short-term rental insurance is typically separate)
• Cleaning: ~$200 per clean; roughly $300/week when factoring in turnover frequency
• Cable/internet: ~$1,200/year
• Electricity: ~$2,400/year (estimate — verify with the seller)
• Maintenance reserve: Set aside even for condos; interior wear-and-tear adds up
• Advertising/platform fees: Standard Airbnb host fees apply

One advantage of a condo: no snow removal or yard maintenance ($1,200/year savings vs. a standalone home). But that savings is more than swallowed by the HOA dues.

The key takeaway here is that high gross revenue doesn't automatically mean strong net returns. Expense discipline is what separates profitable STR investors from those who lose money on paper-attractive deals. The unexpected costs of Airbnb investing are one of the most common blind spots for new investors entering premium markets like Hawaii.

The Cash-on-Cash Reality Check

BNB Mastery generally recommends a minimum 15% cash-on-cash return as the threshold for a deal worth pursuing. In most stable, lower-risk markets, that bar is achievable. In Hawaii, it's a different story.

Here's why premium vacation markets compress returns:

• High demand and proven STR viability attract more buyers, pushing prices up
• Buyers accept lower returns in exchange for lower regulatory and market risk
• The stability of the market is already priced in — you're paying for certainty

For this specific Kailua-Kona condo, the realistic return at $100,000 revenue is approximately break-even. At $130,000 (a moderately optimistic scenario), the cash-on-cash return is around 14% — just below the 15% threshold. At $60,000–$73,000 (a realistic worst case), the investor is losing $25,000 per year.

That's not a margin of error — that's a structural problem. In this analysis, the property simply doesn't pencil out at its current asking price unless it genuinely performs at the 75th percentile or above, consistently, for years.

Investors looking for a more systematic way to evaluate STR deals before making offers should explore the BNB Investing Blueprint, which provides a repeatable framework for running these projections on any market.

Pro tip: When comparing revenue data, always look at comps that are actually comparable. A standalone 3-bedroom oceanfront home and a 3-bedroom condo are very different products — even if they're in the same ZIP code. Dig into the actual comps for the specific property type before making assumptions.

The Co-Hosting Alternative for Hawaii Hosts

Not every opportunity in the Hawaii STR market requires buying a $950,000 property. One path that's growing rapidly — and doesn't require a large capital outlay — is becoming an Airbnb co host.

A co-host manages a property on behalf of the owner, handling everything from listing optimization to guest communication to coordinating cleaners. In exchange, the co-host earns a percentage of revenue — typically 10–30% depending on the scope of services and the market.

In a market where a single property earns $100,000–$174,000 per year, even a 15% management fee generates $15,000–$26,000 annually from one property. Scale that to five or ten properties and the math becomes compelling without requiring any of the capital risk of ownership.

For hosts curious about logging into their accounts and exploring the co-hosting feature, the Airbnb host login portal allows property owners to officially add co-hosts to their listings, formalizing the arrangement within the platform.

Hosts interested in building a formal co-hosting business — rather than just taking on one-off management gigs — can find a structured approach through BNB Mastery's Co-Hosting Program, which covers everything from landing first clients to scaling operations across multiple properties.

For more context on why this model is gaining traction, 3 Reasons Why Airbnb Co-Hosting is Booming breaks down the business case clearly.

Connecting with other hosts navigating similar decisions — whether to buy, co-host, or both — is also valuable. The BNB Tribe community brings together active STR hosts and investors who share real data, deal analyses, and market insights on an ongoing basis.

Final Verdict: Is a Hawaii Airbnb Worth It in 2026?

The question of how much do Airbnb hosts make in Hawaii has two very different answers depending on the property. The top performers are genuinely jaw-dropping — $1.2 million from a single listing is not a number that shows up in most markets anywhere in the country.

For the right property at the right price, Hawaii STR investing can be exceptional.

But the specific condo analyzed here — a 3-bed, 3-bath unit at $949,000 with $1,047/month HOA fees — doesn't clear the return threshold that makes a deal worth pursuing. At realistic revenue projections, it breaks even at best and loses money at worst.

In 2026, with borrowing costs still meaningful and operating expenses elevated across the board, the margin for error on an expensive property is thin.

The lesson isn't that Hawaii is a bad STR market. It's that every deal lives or dies on the specific numbers, not the market's reputation. Run the actual data. Compare genuine comps. Know your worst-case scenario before you sign anything.

For investors who want to continue exploring high-performing markets and alternative property types, unique property types like geodesic domes and treehouses are generating strong returns in markets where traditional properties are overpriced.