Hawaii’s hotels have been on a roller-coaster ride of occupancy and revenue since tourism reopened in the wake of the COVID-19 pandemic. U.S. mainland tourists descended in droves; hotels raised rates and expected even better times when international travelers returned.

However, COVID fears and a strong dollar continue to depress international arrivals, and many Waikiki hotels — some seeking $700-and-up a night for advance holiday bookings — now find occupancies lower than in pre-pandemic times.

Enter the kamaaina discounts. These aren’t bargain-basement rates, but they could entice some locals into a holiday staycation — if inflation hasn’t already emptied wallets.