Key Information- http://www.federalhousingtaxcredit.com/key_info.php

Following are key points that prospective home buyers should be aware of when considering a home purchase under the tax credit program.

• A tax credit of up to $8,000 is available for first-time home buyers purchasing on or after January 1, 2009 and on or before April 30, 2010. In cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• A tax credit of up to $6,500 is available for repeat home buyers who have owned a home for five consecutive years out of the prior eight years. The repeat home buyer tax credit applies to houses sold after November 6, 2009 and on or before April 30, 2010. In cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
• Income limits of $125,000 for individuals and $225,000 for married couples filing jointly apply to all sales occurring after Nov. 6, 2009.
• The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009 are $75,000 for individual taxpayers and $150,000 for married couples filing jointly.
• Homes priced above $800,000 are not eligible for either the first-time home buyer tax credit or the repeat home buyer tax credit.
• Expanded tax credit benefits apply to members of the military, the foreign service and the intelligence community.
• Home purchases in 2010 may be claimed on an amended 2009 income tax return.
• Persons who are claimed as dependents by a taxpayer or who are under age 18 do not qualify for a tax credit.
• Home purchases from relatives of the taxpayer or the taxpayer’s spouse do not qualify for the tax credit. The IRS defines relatives as ancestors (parent, grandparent, etc.), lineal descendants (child, grandchildren, etc.) and spouses.
• Married couples are not eligible to claim the first-time home buyer tax credit if either spouse has previously owned a home. They may, however, qualify for the repeat home buyer tax credit.
• Neither the first-time home buyer tax credit nor the repeat home buyer tax credit have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
• Taxpayers must submit a copy of the HUD-1 settlement statement and IRS Form 5405 to claim either the first-time home buyer tax credit or the repeat home buyer tax credit.

By HARRY EAGAR, Staff Writer 

POSTED: March 31, 2010 

Maui County welcomed 174,027 visitors in February, a gain of more than 7 percent compared with the same month last year. Every other county showed an erosion in the already weak traffic count, although small ones. 

Maui island did even better with visitors who chose to stop at just one island, with those visits up 12.4 percent. Maui island’s increase in visitors in February comes on the heels of a 2.4 percent increase in January. February marks the second consecutive month of positive growth in visitor numbers since December 2005. 

The statistics are published by the Hawaii Tourism Authority. 

Although this was a February without a Pro Bowl on Oahu, overall the numbers held almost steady. The statewide count was 531,094, up 0.7 percent. Oahu was down 1 percent to 312,371. Kauai was off 3 percent to 69,896, and the Big Island fell 0.7 percent to 102,635. 

”Momentum from the strong fourth quarter in 2009 continued through February 2010 as anticipated,” said Mike McCartney, president and chief executive officer of the Hawaii Tourism Authority. ”We are especially pleased that despite the Pro Bowl not being in Hawaii this year, total visitor arrivals and spending held stable over last year.” 

Maui and the Big Island are showing net gains for the first months of the year, although early 2009 was a very slack time. In normal times, Maui would have closer to 200,000 visitors in February. 

Still, state Tourism Liaison Marsha Wienert was encouraged that things are starting to turn around, helped by an increase in flights. 

“We continue to be encouraged by the improving performance of our visitor industry. We also appreciate the unwavering commitment the industry has demonstrated in rejuvenating our economy,” she said. 

Flights from Canada and Asia were up by notable amounts, and since February even more Mainland routes have been added. 

“It is clear that the strengthening of international economies has resulted in increased demand for travel, and Hawaii has certainly benefited from this improvement,” Wienert said. 

For two months, Maui has welcomed 321,934 visitors, a gain of 4.8 percent. Visitor-days are up even more, by 5.5 percent, but discounting is keeping overall spending from rising as much. 

So far this year, per person per day spending on Maui is unchanged at $178.80. Statewide, however, it is down $4 to $171. February spending on Lanai averaged $261.10, down 27.1 percent; and visitors spend an average of $108.40 per day on Molokai, up 8.3 percent. 

Lanai tourism was up 10.5 in February to 5,789. Molokai tourism was down 3 percent to 4,246. 

Among the top four visitor markets, losses in arrivals by air from U.S. West (2.6 percent) and U.S. East (8.2 percent) were offset by growth from Japan (2.5 percent) and Canada (16.2 percent), the tourism authority said. 

For the first two months of 2010, total spending by air visitors grew $31.4 million to $1.8 billion, a 1.7 percent increase over the same two-month period last year, the authority said. Total visitor days rose 2.5 percent while total arrivals by air and cruise visitors increased 1.4 percent from the same period last year to 1 million visitors, it said. 

* The Associated Press contributed to this report. Harry Eagar can be reached at heagar@mauinews.com. 

South Maui Condominium 

Best Buy List 

As of March 25, 2010 

Price                Condominium             Loc      Vac      Comments 

$   127,900      Southpointe 22-205                  NK      N         2BR (REO) Price! 

$   134,900      Kihei Villages 28-201 (New)    NK      N         2BR (REO) Price! 

$   141,740      Haleakala Gardens 19A (New)NK       N         3BR (REO) Price! 

$   249,000      Kihei Kai Nani 103                  SK       Y         1BR Nice & Price! 

$   264.957      Kauhale Makai 329                  NK      Y         1BR Oceanfront/Oceanviews 

$   322,900      Haleakala Shores B307            SK       Y         2BR (REO) Large & Price! 

$   319,000      Maui Banyan H114                  SK       Y         1BR Location & Price! 

$   325,000      Kihei Akahi C307                    SK       Y         1BR Loc, Oceanviews, Price 

$   329,900      Kai Ani Village 2-204   SK       N         2BR New & Nice! 

$   345,000      Awihi Townhouse 4                  SK       N         2BR Price Gar Oceanviews! 

$   359,000      Hale Kai O Kihei A217            NK      Y         1BR Nice & Oceanfront! 

$   395,000      Hale Kanani 3-106                   SK       N         2BR Price & Nice! 

$   425,000      Sugar Beach 409                      NK      Y         1BR Sandy Bch Oceanfront! 

$   489,000     Grand Champions 37                W        Y         2BR Large & Price! 

$   449,000      Grand Champions 103 W        Y         1BR (short sale) On GC! 

$   535,000      Wailea Fairway Villa P103       W        N         2BR On GC & Oceanviews! 

$   569,000      Kihei Beach 503                       NK      Y         1BR Nice Oceanfront! 

$   574,475      Maui Kamaole C206 (New)     SK       Y         2BR Nice, Price, Oceanviews 

$   599,000      Palms at Wailea 202                 W        Y         1BR Nice & Price! 

$   629,000      Nani Kai Hale 509                   NK      Y         1BR Spectacular Oceanfront! 

$   639,000      Wailea Ekolu 1304                   W        Y         1BR Great Oceanviews! 

$   659,000      Ke Alii Oc Villa K101  SK       N         3BR Large & Great Price! 

$   695,000      Wailea Palms 3708                   W        N         1BR Nice & Oceanviews! 

$   729,000      Royal Mauian 508                    SK       Y         1BR Beautiful Oceanfront! 

$   800,000      Hokulani Golf Villa 34 SK       N         2BR Res Condo! 

$   849,000      Kai Malu 20B                          W        N         3BR Res Condo Great Price! 

$   999,000      Mana Kai 409 (New)               SK       Y         2BR Beautiful Oceanfront! 

$1,195,000      Royal Mauian 610                    SK       Y         2BR Beautiful Oceanfront! 

$1,795,000      Hoolei T-1                               W        Y         3BR New, Large, Price! 

$1,599,000      Maalaea Surf H5                      NK      Y         2BR Spectacular Oceanfront! 

$2,345,000      Makena Surf B303                   Mak     Y         2BR Spectacular Oceanfront! 

$2,395,000      Polo Beach 207                        W        Y         2BR Spectacular Oceanfront! 

(New)=New Additions to List,  Vac=Vacation Rentals allowed in project Y=Yes, N=No  Mak=Makena,  W= Wailea,  SK= South Kihei,  NK= North Kihei,  M= Maalaea 

By BRIAN PERRY, City Editor 

POSTED: March 27, 2010 

KAHULUI – Maui tourism got a bit of a lift Friday when Alaska Airlines began daily service between Kahului and Sacramento, Calif. 

More than 150 passengers on the airline’s first flight of its new direct connection between Maui and the West Coast were greeted at Kahului Airport with lei, hula dancers and Hawaiian music. 

Sacramento resident Meredith Santos said the five-hour flight was “wonderful.” 

She and her husband, Freddy, came to enjoy spring break with their sons, ages 6 and 3-1/2. With the direct service, she said, it would be more likely that her family would vacation on Maui. 

Rich Labate, a resident of Sacramento suburb El Dorado Hills, said he was disappointed when Aloha Airlines shut down in the spring of 2008 and stopped doing direct flights to Maui. He said it’s more convenient for his family to fly direct. 

“This is great, to bypass Honolulu,” he said after arriving with his wife, Jacqueline, and two teenage daughters. 

Sacramento resident Juliette Luong came to Maui for a week during the spring break with her husband, Eric Van Ostrand, a daughter and two sons. Friday marked the seventh consecutive year the couple’s family has vacationed for a week during spring break on the Valley Isle. 

The couple also was disappointed to lose the direct service provided by Aloha and needed to fly to Maui via Honolulu last year. 

“We were so happy when we learned that Alaska’s flying nonstop,” she said. 

Cheryl Marcell, deputy director of marketing and public relations with the Sacramento County Airport System, said there’s a significant amount of demand for Hawaii and, in particular, Maui, travel from residents of the Sacramento area. 

Sacramento airport officials approached Alaska Airlines about establishing a direct flight to Maui after Aloha shut down, and they were “very excited” when the air carrier agreed to fly direct to the Valley Isle, she said. 

California residents who’ve already visited Oahu tend to favor Maui in order to have a “tropical, lush” vacation, she said. 

For Maui residents thinking about flying to Sacramento, the airport there is about a 40-minute drive to Napa Valley wine country; 60 minutes to Reno, Nev.; 90 minutes to Lake Tahoe, Calif.; and two to 2 hours to San Francisco, depending on traffic, Marcell said. 

Steve Jarvis, Alaska Airlines’ vice president of marketing, said the airlines’ new direct Maui connection increases the carrier’s offerings between Hawaii and West Coast locations. Aside from Sacramento, those destinations are Oakland and San Jose in California, Portland, Ore., Seattle and Anchorage, he said. 

Alaska Airlines already has daily direct Maui connections with Portland and Seattle, four days a week with Oakland (Mondays, Wednesdays, Fridays and Saturdays) and three days a week with San Jose (Tuesdays, Thursdays and Sundays). The airline is scheduled to add a second daily flight to Seattle on June 10. 

The new daily Alaska Airlines flight to Kahului leaves Sacramento at 8:15 a.m. and is scheduled to arrive on Maui at 10:50 a.m., although it came in about 20 minutes early Friday. Through April 10, the airline departs Kahului at 11:50 a.m. and arrives in Sacramento around 8 p.m. (Beginning April 11, the airline leaves Maui at 1:50 p.m. and gets in to Sacramento at approximately 10 p.m.) 

Each flight accommodates 16 passengers in first class and 141 in the main cabin.