Visitors arriving on Maui has increased 4.1% so far this year and up 5.8% in July. The average stay for a visitor is almost 8 days, with the average spending for each visitor $199.90. A jump from the same time reported last year. Visitors to Maui spent $360 million in July alone. A total of $2.3 billion for the first 7 months this year. Visitors have spent on average $11 million dollars a day in Maui County.
Visitors have also increased on Lanai (up 10.2%) and Moloka’i (up 5.7%). The Hawaii Tourism Authority contributes the efforts of the visitor industry with the low unemployment rate and strong budget.
To read this article in its entirety, courtesy of Mauinow.com click here. If you or anyone you know is interested in buying or selling property on the islands, call the Hansen Ohana today!
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.
Maui December stats are in! Condo sales increased to a 33 month high of 138 units sold. Maui is one of the few markets experiencing multiple offers on properties due to an inventory reduction of 20% and properties being priced more competitively. You can read about the market trends and sales stats proved by the Realtors Association of Maui here. If you or someone you know is considering buying or selling property on the islands, don’t hesitate to contact the Hansen Ohana!