All Forum Posts by: Blake Lawrence

Thanks. My only concern with these pricera pushing a certain vacancy rate at 30 days is that Maui tends to rent a little differently. With the flights, travel time and more family geared vacations, 30 days out is more like 10 days out in urban centers. Can these features be tweaked to day 60 day vacancy instead?

All of this is extremely helpful.  With only one listing and the idea of tying to actual performance I lean towards Beyond but will check price labs as well.  We have a really high booking rate and my partners were doing pricing up until a few months ago when I bought them out. Pricing for Jan and Feb was probably 100 a night too low so I look forward to this. I assume all of them have a built in functionality to edit minimum stays so that if you get july 1-8 and July 9-10, you can open yourself up with a single nigh t(if someone really wants to waste their money on that).

I have been going back and forth trying to decide which one is best - Beyond Pricing, Price Labs or Wheel House.   I have a condo in Lahaina, Maui that is part of a large complex (Aina Nalu by Outrigger). The unit is not that unique and there are several comparable units on the same property. A big problem I've seen is that some people use the pricer to price units that are very unique, something which doesn't affect me.  For just one unit (for now) and with a good amount of comparable or identical units, which of the 3 would be the best for me?   Obviously pricing structures are a bit different but if one is much better than the others then pricing difference should be negligible

Appreciate all the feedback.  As most have said, hopefully June gets better. In terms of lock down, I know Maui extended the 14 day quarantine yesterday but have not seen a specific date yet.  Hopefully some news soon there about opening back up as I am pretty booked out already for June and July.

If anyone has linked up with one of the nursing sites, do they operate one month at a time or are they similar to STR and request multi day stays for traveling nurses?

Originally posted by @John Underwood:

Don't think you can get ppp unless you have full time employees.

Ya that's what I was thinking. Understandably the purpose is to keep people on payroll, I just wish there was something for us who were getting hammered by cancellations.  Have a rental on an island thats 5 hours away from the closest major airport is not ideal right now.

I must have missed this but what $5000 program was airbnb offering?

Thanks.   The main issue is there are still some may reservations that are active and at pre-corona prices.  I would hate to cancel those just to be able to even start to look. 

Financially has anyone tried the PPP with a STR? Is it even worth it?

I run a few different businesses and my one property in Maui under a LLC has been put on the back burner due to the others having a large financial commitment. I just re-financed the condo so as to buy the my 50/50 partners half. The LLC and the loan will only be controlled by me in the coming week or so. Luckily this means I skip the May payment. Maui has forbidden STRs until May 1 and I am losing a lot of may reservations we speak (airbnb and vrbo).

I applied for the EIDL but not sure I did it right. Its an LLC but we don't take a salary. Is it possible to apply for PPP and just use the income from 2019 as the total salary? Are there any hawaii or maui specific programs out there? They do not have much a social media presence so its tough to find any info from them. Lastly, I've seen some people suggesting to get longer term tenants in there instead of vacationers. Any suggestions for sites? I know there are a few for traveling nurses but I've never had to look into it much further.

Any other tips or tricks for those in the same position would be greatly appreciated.

Thanks!

Thank you for that info, I had price labs on my to do list, but will make that a priority

Lahaina, our cleaning is also 195 which makes a big difference (note to self, might be time for a new cleaner).