2012 Growth "Modest"

Aloha Kakou:

Modest growth for 2012 is the key takeaway from a study issued today by University of Hawaii economists.

Regarding housing prices, Maui condominium prices were down compared to 2010, with a $325,000 median price in July. That's about 16.7 percent less than the $390,000 price for the same month a year earlier.

Homes too suffered a decline in price in July, with the median price of $410,000 down from last July's $500,000.

It has been reported that almost 40% of all home sales in the 2nd quarter of 2011 were foreclosures.

http://mauinews.com/page/content.detail/id/553032/UH-economists-say--recovery-has-slowed--but-not-stopped-.html?nav=10

Maui July Occupancy Flat, Spending Up

Aloha Kakou:

July's island-wide occupancy was only 392 fewer than last year.

Additional airline seats and a strong Canadian dollar mean the number of visitors from "north of the border" increased significantly this year with arrivals up almost 18% compared to last year.

Maui visitors spent $177 per person per day in July, up from $164 last July.

http://mauinews.com/page/content.detail/id/552768/Canadians-support-isle-s-steady-visitor-numbers.html?nav=10

Maui's June Not Impressive

Aloha Kakou:

Despite a promising start to 2010, Maui's hotel occupancy began slowing in April. That slowdown continued through June.

Maui's June occupancy was only one percentage point higher than that of June, 2010, at 66.7%.

Rate gains for the first six months of 2011 may seem impressive but they're coming in comparison to the low, low rates of 2010. RevPAR for Maui was up 16.2% to $179 from $154.

http://mauinews.com/page/content.detail/id/552531/Occupancy-recovery-slows.html?nav=10

Extreme Internet Charges

Aloha Kakou:

How much would you pay for daily internet service? $10, $20? Try $40 at the Airport Hilton in Rome. Yikes!

http://www.consumertraveler.com/today/highest-priced-hotel-internet-do-we-have-a-winner-or-rather-loser-in-rome/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+tripso+%28Consumertraveler.com%29

June Occupancy Decreases

Aloha Kakou:


Statewide occupancy decreased for the first time in a year and half during the month of June. June's occupancy rate of 70.7% was .7% lower than June of last year. Average Daily Rates (ADR) were up 9% compared to last June at $185.46.

Natural disasters and financial uncertainty seem to be causing potential guests to rethink a vacation to Hawaii,

http://www.staradvertiser.com/businesspremium/20110817_isle_hotel_occupancy_suffers_june_swoon.html

Condo Sales

Aloha Kakou:

Take a look at this list of west side condo units that have sold - it will give you an idea as to the potential value of what's on the market today.

http://www.ramaui.com/PopUp.php?Task=Solds&WhatIDX=Maui&UserID=48583e59d0aee&WhatOffice%5B%5D=5336&WhatSortType1=Class&WhatSortDirection1=DESC&WhatSortType2=ListPrice&WhatSortDirection2=ASC&Show=Full&WhatNumber=1&WhatPage=7&PropType=Condominium&WhatDistrict%5B%5D=Kaanapali

Hotel Rates To Stay Flat

Aloha Kakou:

Recent economic events have lead at least one analyst to conclude that hotel rates for the remainder of 2011 and through 2012 will remain flat.

http://www.businessweek.com/ap/financialnews/D9P001A00.htm