Nanohole arrays exhibit unique surface plasmon resonance (SPR) characteristics according to hole periodicity, diameter, and excitation wavelength (λ(SPR)). This contribution investigates the SPR characteristics and surface sensitivity of various nanohole arrays with the aim of tuning the parameters for optimal sensing capability. Both the Bragg surface plasmons (SPs) arising from diffraction by the periodic holes and the traditional propagating SPs are characterized with emphasis on sensing capability of the propagating SPs. Several trends in bulk sensitivity and penetration depth were established, and the surface sensitivity was calculated from bulk sensitivity and penetration depth of the SPs for different analyte thicknesses. Increased accuracy and precision in penetration depth values were achieved by incorporating adsorbate effects on substrate permittivity. The optimal nanohole array conditions for highest surface sensitivity were determined (820 nm periodicity, 0.27 diameter/periodicity, and λ(SPR) = 1550 nm), which demonstrated an increase in surface sensitivity for the 10 nm analyte over continuous gold films at their optimal λ(SPR) (1300 nm) and conventional visible λ(SPR) (700 nm).