Category Archives: Economy

Maui Tourism Exploding

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So far this year, an estimated 200,000 visitors have come to Maui each month. On average we have welcomed 23,000 visitors daily.  The revenue generated from tourism has supported an additional 3,000 jobs.  During the first four months of 2013, visitor spending was an estimated  $1.4 billion dollars.  Travlers from international countries has increased helping with the explosion.  Tourist from New Zealand, China, and Australia have  shown a double digit  increase.  Maui has been hard at work on increasing the diversity of travelers visiting the island. The entire article, curtsey of Mauitvnews.com is viewable here.  If you visit Maui, and decide to make it your permanent residence, contact the Hansen Ohana to make living in paradise a reality!

Hawaii Room Rates Highest in US Market

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Hawaii hotels took in the most revenue for the first quarter with $973.5 million thus far.  A new report done by Hospitality Advisors LLC and Smith Travel Research have Hawaii in the top spot among hot travel destinations such as New York and Florida.  If you factor in total hotel revenue (beverages, parking, etc.) the first quarter total jumps to $1.43 billion.  A 14.7 percent increase from 2012’s first quarter.  The Big Island saw the biggest jump in growth across the board for room rates and occupancy.

The demand, although likely to taper off, shows the strong growth of the current market.  The entire article is available to view here curtsey of Pacific Business News.  The Hansen Ohana strives to keep you up to date with the latest market new from throughout the islands!

Hawaii Home-Price Increases For March

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Irvine based Corelogic has ranked Hawaii No. 5 highest for home appreciation for the month of March in comparison to the same month in 2012.  With an appreciation of 14.3 percent, Hawaii’s increase is almost 4% over the national average of 10.5 percent in March.  This increase trend which started in 2012 and has continued in 2013, is driving the market with the home buying trend.  You can read the entire article provided by Pacific Business News here  .  If  you or anyone you know is looking to buy or sell property, call the Hansen Ohana today!  We would be happy to assist you with all your real estate needs!

April 2013 Newsletter

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Aloha!  Spring has sprung and the first quarter of 2013 is complete.  We’ve had a very busy first quarter experiencing the real estate upsurge so widely discussed.    As a participant in the Sales end of the real estate market it is clear that there are increased showings, properties going under contract and sales including multiple offers on “well priced” listings.  Hesitant buyers are now becoming Purchasers as they learn of the “hot” markets on the Mainland and see how quickly our local Maui market is changing.  Traditionally Maui follows shortly after California and most of California has recovered.Maui’s well priced properties are attracting multiple offers with very few days on market, often resulting in quick closings. Inventories have declined 14-16% over the past 12 months in Residential and Condo classes. REO (Foreclosures) and Short Sales are dwindling, with any “hidden inventory” (or overhang) backlog slowly trickling onto the market. Mortgage Interest Rates are still near historic record lows which may help motivate would-be Buyers to go ahead and buy IF they can qualify for a loan.  Stringent lender underwriting has softened somewhat and many lenders are offering more new loan programs which also helps.  Although we are seeing increased financing as buyers take advantage of the current low interest rates, there continues to be more than 50% cash buyers.MAUI’S  FIRST QUARTER REAL ESTATE STATISICS ARE IN:

http://www.ramaui.com/UserFiles/File/Stats/All-March2013.pdf

IPhone App:  We are very proud that our IPhone app is available at

http://appstore.com/HawaiiRealEstateApp/

Our Android App is now available for those who utilize an Android:

https://play.google.com/store/apps/details?id=com.mauirealestate.hawaiire

MORE REAL ESTATE INFO:

New Pricing Introduced at Honua Kai:

Call for Details.

Andaz Hotel Update:

Published in the Maui News April 18th in the Maui Scene section, Andaz is targeting June 28th to open.

Wailea Suites Update:

The maintenance fees have been lowered from $2,100 to $1,192 for a one bedroom one bath suite.   The first closing just occurred at $749,000.

Other new projects coming:

There are several condominium projects coming on line.  If you would like to be placed on the interest lists, please email dad@MauiRealEstate.NET or call us at 808-283-9456.

Our featured listings for this week are:

Wailea Ekahi 18D is a phenomenal value with great views of Keawakapu Beach with sounds of the ocean.  Turnkey: http://www.mauirealestate.net/GetSearch.php?WhatMLS=354738

The ground floor Wailea Beach Villas Penthouse with ocean views is outstanding with fabulous furnishings:   http://www.mauirealestate.net/GetSearch.php?WhatMLS=354259

If you need a large Villa, G101 has the private splash pool and additional square footage: http://www.mauirealestate.net/GetSearch.php?WhatMLS=354390

We also have some Wailea Kai home values:

http://www.mauirealestate.net/GetSearch.php?WhatMLS=354625

http://www.mauirealestate.net/GetSearch.php?WhatMLS=354470

The Hansens are now accepting new listings.  If you or someone you know has been considering selling property on Maui please contact us for a no obligation consultation.  We have been involved in over 650 successful transactions on Maui and currently have many of our listings under contract.  We utilize cutting edge technology with an extensive internet presence as well as regular print media including glossy magazine ads in Canada, Maui and to the Christie’s International Real Estate extensive worldwide base.

http://www.christiesrealestate.com/eng/sales/96753-kihei-hi-usa

Please visit us on our top ranked website www.MauiRealEstate.NET for regular market updates as well as other helpful information and statistics.  We are constantly enhancing the features of our website and welcome your feedback and suggestions.

With Warmest of Aloha,

Bob, Clint and Donna

The Hansen Ohana Real Estate Group

Maui Estates International LLC

 

Strongest First Quarter In The Past 4 Years

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First Hawaiian Bank has some positive economic news to report.  This years quarter is the strongest we have seen in the past four years.  The bank conducts the Business Activity Report (BAR) on 16 different sales sectors.  Those sectors include autos, travel, and home improvement to name a few.  Sales of nearly $800 million were recorded, a record for any quarter to date, with all categories showing a positive gain for the first quarter.  Leading the gain was tourism posting a double digit increase from last year.  The entire article provided by mauinow.com can be viewed here.  With economy outlooks looking positive, now may be the time to consider buying real estate.  The Hansen Ohana, your full service real estate office, can  help you with any and all your real estate needs.  Contact us today!