What is the BEST Location for a Return on a $1m STVR investment?

[Cole Schlack]

I would like to see what everyone is getting for returns on their Short Term Vacation Rental in the $1m value range

I will start, 

Waikoloa Beach Hawaii, Big Island Hawaii

Value $1m

2022 Gross Rent $87,422 (estimated for the end of the year) 

PM 20%- $16,844

Property Tax $6,360

HOA/Maintenance 11,808

Utilities   $6,780

Supplies $1,770

Net Profit 43,860

[Allan Smith]

A 4.5% cap rate on an STR seems low. Most short-term rentals I've seen including my own usually have at least a 10% cap. They are more risk so there's usually more income.