"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

Moments of Aloha

Aloha Kakou:

Last Saturday, Outrigger Maui Eldorado was fortunate to have two entries in the Moments of Aloha section of the company's weekly newsletter, Saturday Briefing.

Way to go, Mary Ann and Tamara!

Please congratulate these two outstanding employees when you see them next.

http://saturdaybriefing.outrigger.com/uncategorized/moments-of-aloha-2/

Rate Recovery "Years Away"

Aloha Kakou:

We know that occupancy is up because rates are down. According to Joseph Toy, president and CEO of Hospitality Advisors LLC, while rates may begin to recover mid-2011, rates may not fully recover to pre-downturn levels until 2014.

http://www.travelweekly.com/Hawaii/article3_ektid219682.aspx