With the strongest second quarter on record, First Hawaiian Bank announced an 8.4% increase in same store sales for credit and debit card use. Hotels and shipping have posted four consecutive quarters to date which shows a healthy and thriving economy. Hotels continue to be the leader in economic growth for 13 out of 14 quarters measured. You can view the entire article via mauinow.com. The Hansen Ohana strives to keep you up to date on the latest happenings in the economy and real estate. Call us today should you or someone you know be interested in buying or selling real estate here on the Hawaiian Islands.
Tag Archives: economy
Paul Brewbaker Economic Summary
Long time Hawaii economist Paul Brewbaker made a presentation on Friday to more then 100 people at the Realtors Association membership meeting. The “bottom” of the market has passed. Low inventory is driving prices upward. Brewbaker said the lowest point had occurred around 2009 and 2010. You can read more on the membership meeting, and Paul Brewbaker via the Maui News here. This photo is of our very own Hansen Ohana broker Bob Hansen with Paul at another successful Paul Brewbaker Economic Summary. If you or anyone you know is interested in buying or selling property on the islands, don’t hesitate to call us today!
May Stats Are In
More record breaking stats are in for May. Residential sales of 105 homes in May were at a six-year high here in Maui. The median home price for a residential home also increased 22% since last year to $540,000. Condo sales remain steady and strong at 138 units sold. Prices for condos also rose 12% since last year to $381,500. On both Condos and Homes there is less than a 6 month supply on the market. This brings us to a solid Seller’s market. Here is a link to the real estate stats: http://www.mauirealestate.net/All-May2013.pdf
We are again at a time where multiple offers are coming in on well priced properties. If you are a first time home buyer looking to break into the real estate market, now is the time. Low inventory is driving prices and statistics are showing this trend in the market will continue. For sellers, having your property appraised and inspected in advance will encourage offers from buyers. If you’re a buyer, getting pre-approved so your house hunting adventure can be done with the confidence that you know your loan will be funded is strongly encouraged.
The Hansen Ohana strives to meet all of your real estate needs. Contact us today if you or someone you know is looking to buy or sell property here on the islands. We are happy to assist you!
Maui Tourism Exploding
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!
Hawaiian Airlines Ranks On Consumer Reports List
Congratulations to Hawaiian Airlines for being named into the Top 4 airlines by Consumer Reports. The report was based on customer satisfaction on multiple categories including, cabin cleanliness, ease of check in, comfort, and on-flight entertainment. You can read more about the report and the findings here.
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