387. How to Run a Modern (and Clean!) Hostel with Hawaii’s Hostel Guys, Mike and Nate

Episode • Aug 22, 2024 • 58m

Today’s expert guests are the owner/operators of Howzit Hostels, a growing brand of hostels based in the Hawaiian Islands. Michael and Nathan discuss their journey beginning with investing in short-term rentals to scaling up to commercial and hospitality properties. They currently own two hostels, one in Maui and the other on the Big Island of Hawaii, with a combined bed count of approximately 140 beds.

Within only 3 years of opening, Howzit Hostels won the 2024 award for #1 Small Hostel in North America. Current annual gross revenues from their hostel business are expected to exceed $2.75 million. Their goal is to grow to 400 beds within the Hawaiian Islands and 4,000 beds in North America.

Michael and Nathan explain why hostels are not only an excellent investment but a feel-good business that brings people together to share incredible experiences.

(00:01:34) STRShare: @the_avian_lakearrowhead

(00:02:57) Introducing Mike and Nate of Howzit Hostels

(00:16:54) Hostel vs. Short-Term Rental vs. Hotel

(00:36:02) What’s it Like to Manage a Hostel?

(00:47:23) Running the Numbers on Hostel Management

Resources:

• Click here for full show notes

• Instagram: @howzithostels

• Book a Hostel: howzithostels.com

• Investment Website: vortexmaui.com

• Investment Instgram: @mikeandnate_thehostelguys

• Swell Vacation Rentals: swellvacationrentals.com