March Maui Expeditures, Arrivals Up

Aloha Kakou:

The Hawaii Tourism Authority today released visitor numbers for March.

Total Maui tourism expenditures were up almost 10% compared to March, 2010, to $283.2 million.

Maui had 11.3% more arrivals this March compared to last at 201,602.

Per person expenditures per trip declined a little more than 1% to $1404 from last year's $1422.

http://www.hawaiitourismauthority.org/documents_upload_path/tr_documents/March%202011%20Visitor%20Stats%20PR%20(FINAL).pdf

Maui Eldorado Sale Listings

Aloha Kakou:

Here's the most recent list of units for sale at the Maui Eldorado, as provided by Susan DeLoria of Whaler's Realty:

Maui Eldorado Current Active Listings 4/21/2011

J-118 Studio $265,000 LH Jim Foster Chase N Rainbows 661-7994/ Cell 870-5858

J-120 Studio $299,000 LH Anastasia Tagayuna Prudential Maui Realtors
661-5200 / Cell

J-109 Studio $300,000 LH Nancy Montoya Whalers Realty Inc.
661-8777 ext.518/ 250-5073

G-105 1B/2B $305,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext.533 / Cell 250-5948

K-215 Studio $315,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 250-5948

I-201 1B/1B $329,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 250-5948

E-205 Studio $338,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext 533/ Cell 250-5948

C-102 1B/1B $349,000 LH Betty Sakamoto Sakamoto Properties
669-0070 / Cell 870-7062

D-206 1B/2B $349,500 LH Fred Haywood Realty
579-8848/ Cell 870-4904

K-110 Studio $350,000 LH Bud Kilmer Prudential Maui Realtors
661-5200/ Cell 280-0435

A-210 Studio $350,000 LH Susan C DeLoria Whalers Realty Inc.
661-8777 ext.533 / Cell 250-5948

C-202 1B/1B $360,000 LH Derek Escalera Whalers Realty Inc.
661-8777 ext.229 / Cell 264-4617

K-202 1B/2B $375,000 LH Thomas Brozozowski Roos Realty Inc.
667-9163/ Cell 280-0113

C-201 Studio $399,000 LH Joline Dorner Lowson and Associates
661-8771 / Cell 276-9015

B-103 1B/1B $412,500 LH Donna Nabavi Coldwell Banker
669-6565/ Cell 276-5230

D-102 1B/2B $525,000 LH Nancy Montoya Whalers Realty Inc.
661-8777 ext.518/ 250-5073

K-100 2B/2B $570,000 LH Robert J. Cartwright Whalers Realty Inc.
661-8777 ext.222

C-205 2B/2B $975,000 LH Mischelle Lawrence Whalers Realty Inc.
661-8777 ext. 521/ 264-3337

I-204 2/2B $1,175,000 LH Casey Fukuda Sakamoto Properties Inc.
669-0070 / Cell 264-5362

Maui Council Debates Property Taxes

Aloha Kakou:

The Maui County Council yesterday heard testimony from hotel general managers and directors regarding the effect proposed property tax rates would have on the visitor industry.

http://mauinews.com/page/content.detail/id/548582/Visitor-industry-leaders--Tax-burden-high.html?nav=10

Here are comments regarding the meeting from Carol Reimann, Executive Director of the Maui Visitor Bureau, who attended the meeting:

"Here is a short list of subsequent discussions on the floor:
· taking another look at the homeowner rate - at $2.50 we are the lowest in the State, if not the Country. Coupled with the homeowner exemption – we’ve created an environment of investment speculation in real estate.
· homeowner exemption - which is currently $300,000, the highest in the state
· revamping the circuit breaker credit - so that it only benefits those who are in need (currently, it was reported that there were homeowners in the $5-$10 million bracket receiving circuit breaker credits!)
· the fact that other counties treat commercial and hotel/resorts the same
· the fact that timeshare are treated the same as hotel/resorts in all other counties
· the hotel/resort classification includes hotels & condos on 9,754 hotel-zoned parcels of land. Currently the category includes only 28 hotels on 285 parcels; the remaining parcels are primarily condos. They discussed possibly breaking apart the 28 hotels into a separate category because fluctuations in valuations of hotels vs condos are often not at the same level, making it difficult for the County to adjust RPT rates in a fair manner.
· Mike White pointed out that the way our RPT rates are structured has created a scenario where our businesses provide the lion’s share – carrying the weight of homeowners. He also shared statistics that clearly shows how most homeowners do not pay their share of governmental services that they enjoy.
· Riki Hokama noted that RPT rates are not about fairness, but is a tool that has been used to set policy for land use. He is also quoted in the Maui News today – his quote clearly reflects his displeasure with our timeshare partners.
· here’s an interesting statistic - 30% of homeowners pay the minimum in real property tax - $150 per year!!!"

Southwest To Hawaii

Aloha Kakou: When Southwest Airlines takes delivery of it's first 737-800's next January, it is possible that the airline will consider Hawaii as a destination. See the quote from David Carey, president and CEO of Outrigger Enterprises Group, at the end of the article. http://www.staradvertiser.com/business/20110418__Isles_within_reach.html

Maui Home Prices Stay Low

Aloha Kakou: Home prices on Maui continue to stay low as short sales and foreclosures weigh down market prices. During the first quarter of 2011, only 28 condos were sold in Kaanapali as compared to 82 for the first quarter of 2010. The average Kaanapali condo price was $872,095 and the median price was $670,000. Keep in mind these prices include condos in the oceanfront properties of the Whaler and the Alii as well as in the new Honua Kai. http://mauinews.com/page/content.detail/id/548259/Distressed-properties-keep-Maui----.html

How Big Is Your TV?

Aloha Kakou: Hotel room televisions are getting larger as price and energy consumption both drop. Many properties are now converting their sets to 37 inches. http://www.buyerinteractive.com/buyer/article.aspx?articleid=20320

February Visitor Numbers Up

Aloha Kakou: February's average daily room rate increased $21 this year, up to $257 compared to last year. Occupancy was also up to 83.5%, compared to last February's 77.7%. Maui's number of Canadian visitors was up almost 20% this year as compared to 2010. While the state as a whole will be affected by declining visitor numbers due to Japan's crises, Maui and the Outrigger Maui Eldorado will not be greatly impacted as the number of visitors from that country has always been a very small part (about 5%) of the overall visitor picture. http://mauinews.com/page/content.detail/id/547984/February-visitor-count-goes-up-again-but------.html?nav=10

United Changes Frequent Flyer Program

Aloha Kakou: In conjunction with it's merger with Continental, United is making some changes to it's frequent flyer program beginning June 15. The changes are announced on United's website. Upgrades to Hawaii will now cost fewer dollars and more miles, 17,000 to 25,000 each way plus $125. http://www.consumertraveler.com/today/united-quietly-rolls-out-mileage-program-changes-for-june-%e2%80%94-too-quietly/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+tripso+%28Consumertraveler.com%29

State, Island Rates & Occupancy Up

Aloha Kakou: Visitor industry metrics were up for the month ending March 23, with Maui’s 80.6 percent occupancy rate up 5.4 percentage points compared to the same week in 2010. Rates were also up on Maui; $266.39 was 14.6% higher than last year. http://www.bizjournals.com/pacific/news/2011/04/01/hawaii-hotels-see-more-guests-as-rates.html

Do You Want To Buy A Hotel?

Aloha Kakou: The Kapalua Ritz Carlton goes on the block in May as the result of foreclosure. I don't know how much of a deal you could get with $263 million outstanding debt. http://www.bizjournals.com/pacific/news/2011/03/28/ritz-carlton-in-kapalua-to-be-sold-at.html