I live in a twin tower complex in Waikiki (rather not say the name, but you can figure it out.)  Rental vs owner occupied rate, 65-35%.  Our entire board of eight consists of absentee owners who own nearly 100 rentals.  These are not vacation rentals, but sweet government contracts to shipyard workers, armed forces and DoD employees for long term leases.  Right now the management companies are telling these owners to "sprinkler up", otherwise they'll lose these gravy train rentals.  Resident owners are outnumbered and screwed.