Good News From July Compared To Last Year

Aloha Kakou:

Maui's occupancy and room revenue were up this year in July as compared to last year.

Last year's occupancy of 61.5 was bested by 2010's 73.1 July's room revenue was up 18.1% compared to last year.

Rates were down, though, this year with ADR coming in about $18 lower than 2009.

Of course, the numbers were so low last year that any increase in actual dollars or arrivals would have an impact on this year's numbers.

http://mauinews.com/page/content.detail/id/540993/Pleasant-news-for-hoteliers.html?nav=10

Now They're Hiding On The Internet

Aloha Kakou:

Sometimes, no news is definitely good news, especially when it comes to that latest scourge, bed bugs. Someone has created a website to report sitings of the critters and, since we have had no incidents, we come up clean.

http://www.bedbugreports.com/details/181780

Hawaii Third Highest In Hotel Rates

Aloha Kakou:

While hotel rates have begun to rebound in other parts of the US, Hawaii's have remained steady from last year, making hotel rates here the third highest in the country.

Corporate and incentive travel has yet to rebound in the Hawaii market. Without that underlying demand, it's difficult to increase rates as rooms are not as full as they had been in prior years.

http://www.staradvertiser.com/business/businessnews/20100914_Isle_hotel_rates_third-highest.html

Condo Bill Passes; AOAO To Report Usage

Aloha Kakou:

On September 3, the Maui County Council passed a bill which required condo associations to report to the county Finance Director the way in which each unit is being utilized, either as a residence, or as a short term or long term rental.

The bill was a compromise from the initial proposal which would have taxed condo units based on the zoning of the condo property. The proposed taxation, otherwise known as "highest and best use", is the method by which all other property on Maui is taxed.

The county Finance Director believes that currently the county is losing $8.5 million in tax revenue due to incorrect reporting of use.

http://mauinews.com/page/content.detail/id/540022/Council-OKs-condominium-tax-rates-bill.html?nav=10

More For Sale

Aloha Kakou:

Sue DeLoria, the Whaler's Realty realtor who provided us with the list of units for sale, has an article in the most recent Lahaina News mentioning her listings. Sue also adds a nice plug for the Outrigger rental program.

http://www.lahainanews.com/page/content.detail/id/501266/Maui-Eldorado-in-the-Heart-of-Kaanapali.html?nav=20

What's For Sale

Aloha Kakou:

Please see this list of units for sale. Along with some additions, there are some new prices as well. Thanks to Sue DeLoria of Whaler's Realty for providing this information.

Maui Eldorado 2661 Kekaa Drive Maui HI 96761
Current Active Listings 9/8/2010


J-211 Studio $279,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext.533 / Cell 808-250-5948

I-203 Studio $299,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 808-250-5948

L-102 1B/2B $370,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 808-250-5948

I-201 1B/1B $398,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 808-250-5948

C-202 1B/1B $399,000 LH Derek Escalera Whalers Realty Inc.
661-8777 ext.229 / Cell 264-4617

J-120 Studio $399,000 LH Betty Sakamoto Sakamoto Properties Ltd
669-0070 / Cell 870-7062

J-109 Studio $399,000 LH Nancy Montoya Whalers Realty Inc.
661-8777 ext.518/ 250-5073

D-206 1B/2B $425,000 LH Fred Haywood Realty
579-8848/ Cell 870-4904

C-102 1B/1B $425,000 LH Betty Sakamoto Sakamoto Properties
669-0070 / Cell 870-7062

K-202 1B/2B $454,000 LH Thomas Brozozowski Roos Realty Inc.
667-9163/ Cell 280-0113

G-105 1B/2B $460,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext.533 / Cell 808-250-5948

K-100 2B/2B $590,000 LH Robert J Cartwright Whalers Realty Inc.
661-8777 ext 223

K-213 2B/2B $850,000 LH Thomas Brozozowski Roos Realty Inc.
667-9163/ Cell 280-0113

A-211 2B/2B $875,000 LH Susan C DeLoria Whalers Realty Inc
661-8777 ext.533 / Cell 808-250-5948

I-204 2/2B $1,195,000 LH Casey Fukuda Sakamoto Properties Inc.
669-0070 / Cell 264-5362

Updated Cabana Update

Aloha Kakou:

Work has begun on the cabana's new kitchen. Sam and crew have pretty much finished removing the old cabinets and are working at revamping the plumbing and the electrical portions. The new cabinets are next on the list to be installed.

And the transplanted grass still looks good!

"Don't Expect A Rapid Snapback"

Aloha Kakou:

At Maui's annual economic outlook meeting yesterday, the tone was positive but cautiously so.

Maui's unemployment rate remains at about 8% and local businesses have yet to see the increase in business that has affected the tourism sector.

New construction, while improving on other islands, remains flat on Maui, at least in part to local affordable housing and water ordinances.

Leroy Laney, finance and economics professor at Hawaii Pacific University, said, "Barring unforeseen misfortunes, economic recovery is under way or imminent, but do not expect a rapid snapback."

http://mauinews.com/page/content.detail/id/539990/Economies-improving--but-recovery-is-fragile.html?nav=10

Beware The Promise Of Guaranteed Results

Aloha Kakou:

Condo owners are upset that this New Zealand development company has reneged on it's promise of providing guaranteed returns for three years and has gone into liquidation. The promise of guaranteed rental results is only as strong as the financial position of the company making that promise.

http://www.hotelsmag.com/MembersOnly/webNews/details.aspx?item=18258

Kaanapali Golf Courses To Remain Apartment Zoned

Aloha Kakou:

The Maui County Council's Land Use Committee has rejected a bill to change the zoning for both Kaanapali golf courses from their current apartment district zoning to that of golf course park district.

http://mauinews.com/page/content.detail/id/539949/Rezoning-tabled-for-Kaanapali--courses.html?nav=10

Maui July Vistor Count Up

Aloha Kakou:

Maui's visitor count in July was 211,477, an 11.5% increase over July, 2009. Visitor spending was up too, to $179.40 per person per day, a 14.2% increase from the same month last year.

Half of Maui's visitors were from the US Western section of the country.

The number of visitors from Canada was up 22.3% this July to a total of 10282 visitors for the month.

http://mauinews.com/page/content.detail/id/539899/Maui-records-gains-in-visitors---11-5-.html?nav=10

July Good, Autumn Not So Much

Aloha Kakou:

July was the best month in five years for Hawaii's occupancy, according to the most recent figures from the Hawaii Tourism Authority.

The total number of visitors to the state was about 680,000, up 9% from last year.

Several city wide meetings and conventions as well as the semi-annual RIMPAC exercise meant more people coming to Oahu this year.

"The overall economic outlook isn't negative, but it certainly isn't robust," David Carey, president and chief executive officer of Outrigger Enterprises Group, said. "Several of our core market states are doing poorly. There are a big chunk of people who are flat out of work, and they used to be our customers."

http://www.staradvertiser.com/business/20100901_July_tourism_hits_5-year_high.html#axzz0yJJApIGi