Gary's Blog

Friday, September 16, 2011

Maui News and Pick of the Day

Hot Pick of the DAY- Maluhia House #5!
Maluhia at Wailea is the ONLY single family detached home subdivision on the beach in Wailea.

Maluhia #5 Pool

For those who are only interested in the VERY BEST...Maluhia is Wailea's most luxurious beachfront community and sets the standards for high end resort living. Nestled among 10.5 oceanfront acres in Maui's most desirable location, Maluhia at Wailea is an extraordinary community composed of just 14 residences, which are THE ONLY single-family homes and home sites on Wailea's shoreline. Combining luxurious tropical living with unrivaled comfort, service, and privacy, Maluhia is a magical place, from the dramatic gated entrance to the private Beach Club which also houses Maluhia's resident concierge. The gentle terracing ensures a sense of privacy and exclusivity as well as guarantees extraordinary views that are actually deeded to each residence so that each homeowner and their guests will be able to enjoy the same unobstructed ocean views, as well as views of neighboring islands and breathtaking Maui sunsets, for years to come. This custom designed home takes full advantage of Maui's tropical climate and allows indoor & outdoor spaces to flow together naturally, with expansive lanais, a private pool & spa, a large waterfall & stream, and many other expensive custom finishes. The interior features a large designer kitchen, a gracious master bedroom with vaulted ceilings, and multiple expansive guest rooms.

Maui Visitor Spending and Arrivals Up

Hawai'i's tourism economy continues to fare well despite global economic uncertainty, with an increase in arrivals and visitors who are staying longer and spending more than they did in 2010.

Through the first seven months of the year, increased airlift to the neighbor islands has better distributed visitor arrivals and expenditures across the state, reaching $7.2 billion in total.

The Hawaii Tourism Authority anticipates continued growth through the fourth quarter and into 2012 with the continuation of China Eastern Airlines' direct service from Shanghai, additional flights from Korea and Japan, and Australia's Strategic Airlines launching service from Brisbane and Melbourne.

Hawaiian Airlines has just announced two NEW direct routes from the West Coast to Maui:

San José - Maui begins January 10 7X/week

Oakland - Maui begins January 11 3X/week

Oahu Real Estate Sales UP

There were 279 single-family homes sold in August, a nearly 21% increase from 231 in August 2010. Last month's median price was $557,500, down about 13% from $641,277 in the same month last year. Condo sales were also up last month, by 15%, to 338 units sold in August, vs. 294 last year, same period. It took only a 1% hit in median prices over the past year, to $300,000, a good sign of stability in the market.

The most recent stats for nationwide home prices is also encouraging. Rices rose 3.6% in the April-June quarter, according to the Standard & Poor's Case-Shiller home-price study. Prices rose in 19 of the 20 cities tracked in June from May. That was the third straight month of increased home prices.

More Positive News

It is easy to find bad news. It's funny how most news articles stress the negative side of the story. But there always seems to be good news out there too, if you look for it.

For example, a surge in demand for autos and aircraft drove orders for long-lasting manufactured goods, with a 4% increase last month, the biggest increase since March. All factory orders rose 2.4% in the same period, also the largest since March. Orders for motor vehicles and parts rose 9.8%, the largest increase since January 2003. This is great news on the heels of the sad 0.7% GDP growth announcement for the first half of 2011.

Hawaii Mortgage Delinquencies Fall Again

Delinquent mortgages fell to 4.9% of all mortgages in the second quarter, down from 5.7% a year ago.

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