After hitting a low in 2009, visitor spending on Maui has risen tremendously. In 2012 spending increased 18.8% to $3.6 billion. In just December alone, Maui visitors spent $357.8 million. Arrivals via air were up as well for 2012 increasing 5.9%. With all these visitors to our island, tourism based jobs rose 34,000 in 2012. You can read more via mauinow.com here. If you or anyone you know is looking to buy or sell real estate on the Islands, contact the Hansen Ohana!
The appeal of living on Maui just keeps growing! Maui has the weather, the great recreational sports, and the beautiful surroundings. Need another reason? Low unemployment! Maui’s seasonally adjusted unemployment rate for December was down to 5%. That is a 1.9% decrease from the same time last year. The national average for the seasonally adjusted unemployment rate was 7.8%. 2.8% higher then that here on Maui. If you or someone you know is considering relocating to Maui, the Hansen Ohana has all the resources needed to call Maui home. The entire article on Maui Unemployment can be viewed curtesy of mauinow.com.
Real property tax problems such as delinquent taxes and incorrect condominium classifications can be avoided by keeping RPT mailing addresses current.
12/31/2012 is the filing deadline for the home owner exemption, circuit breaker tax credit, ag zoning, ag use valuations and condominium classifications.
*All forms are available at www.mauipropertytax.com
According to Inman News, almost every major market in the U.S. has posted double-digit decreases in listings for sale.
With the decreasing inventory, buyers are getting more frustrated with what’s available. According to a recent survey by Redfin, 7 out of 10 homebuyers surveyed reported that they’ve faced competition on at least one of their offers recently, but 31 % say they would back off when faced with a multiple offer situation.
Our recommendation is that if you are interested in a property that is priced right, make your highest and best offer right away. We see all too often when buyers come in at 80 % of what the property is worth, try to negotiate, and end up losing the property to another buyer that made a higher offer.
The inventory on Maui has also decreased in all districts. See inventory report from August to September 2012. The Central Maui and Kihei areas now only have 4 months of available inventory.
The June statistics from the Realtor’s Association of Maui (RAM) showed some very interesting developments. June’s Residential Sales rose to a 14 month high of 86 homes while Condo Sales rose to 120 Condo units sold. The Residential home median price rose dramatically to $575,500 (a 46-month high), while the Condo median price rose to $372,990. Land median price declined to $310,000. To discuss a specific complex or region to the market in general please call or email The Hansens directly at 1-800-291-5535 or (808)280-2764. Click here for the full report from RAM: http://www.ramaui.com/UserFiles/File/Stats/All-June2012.pdf
Hawaii Real Estate Blog 
You must be logged in to post a comment.