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!
Target comes to Maui
Exciting news for those of you who are Target lovers. Target is scheduled to open a store sometime in 2014. The store will be located at the new 24 Acre Punnene Shopping Center in Kahului. Also planned for the center will be eateries, retail stores and other services. Originally the first Target store on Maui was planned to be built in Kihei, but those plans fell through. With the variety of items Target has to offer, it will be a huge draw not only for the residents in Kahului, but for all the residents of Maui. You can read the entire article here provided by Pacific Business News.
March Statistics
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, pendings and sales including multiple offers on “well priced” listings. Hesitant buyers are now becoming Purchasers. Well priced properties are attracting multiple offers making for a quick sale. 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. Here’s the link to the Board of Realtors statistics report: http://www.ramaui.com/UserFiles/File/Stats/All-March2013.pdf For the next few days we will discuss the different areas of the island and how these statistics point to certain directions.
Tax Deadlines and 1031 Exchange What You Need To Know
Yes it’s that time again. Tax season. For many this time of year can be quiet stressful. It’s always best to get advice from a tax professional should you have questions regarding your returns and filing. Different forms and deadlines may apply to those doing a 1031 Exchange. Make sure you are in compliance and filing the correct forms. You can find more information here courtesy of OREXO.
2013 Merrie Monarch Festival
The Merrie Monarch festival began it’s week long series of events yesterday March 31. The festival is a celebration of the arts and culture of Hawaii. The first festival took place in 1963 and has since become a yearly tradition passed on from generation to generation. The festival brings together hula instructors, researchers, and professors of Hawaiian studies to teach new generations the arts and dances that make the Hawaiian culture so unique and special. You can read about the festival and see what events will be taking place here. Make sure to check out the collectible section with shirts, posters and tote bags available!
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