Abstract: As an important component of rural tourism attraction, Taiwan’s homestays have been developing toward specialization and high quality, and thus become an important choice for tourists’ recreations. Based on the introduction of the development process of Taiwan’s homestays, the homestays in Jiufen, Sanyi Township of Miaoli and Kending were selected as the research objects, in order to conduct indepth interviews with the owners and the officials of peasant associations. Then, by analyzing the interview manuscripts, it was found that people, objects, and cooperation were the key success factors for Taiwan’s homestays. Furthermore, there were some existing problems in the development of Taiwan’s homestays, which were worth thinking about and prevention in the development of Hainan’s homestays.