02 May New blog and web site
I have a whole new look on my blog and web site. Hope you enjoy it.
Home prices drive rebound in resort homes sales. Buyers demand for Hawaii homes broadly rebounded last year, and a new report shows that the same was true for one segment of the state’s housing market: resort residences. According to an article in the Honolulu Advertiser, renowned economist Ricky Cassiday is quoted as stating that resort sales of condominiums and single family homes have increased and stopped a 4 year slide in prices. This rebound was aided by improved confidence among buyers but the biggest driver was reduced prices. The average sales price of a resort home today is down 14% from last year and down 29% from 2008. This proves again that it is a great time to invest in Hawaii real estate.
Unemployment decreases in Hawaii. All islands saw decreases in the number of claims for unemployment filed last week., Kauai claims down 32%. A lot of this is attributed in an increase in occupancies in our hotels and condominiums. Occupancies are still not up to 2006 levels but the tourists that are coming are spending more money on activities, dining out and shopping than in the last 3 years. Kauai has seen double digit increases in tourism for the last 3 months in a row.
New airline service to the Island. Both Alaska Airlines and Southwest Airlines are increasing flights to Hawaii and Kauai in particular. Alaska Airlines may actually be entering the inter island market either in competition or with an agreement with Go/Mokulele to replace their service. Southwest Airlines may also decide to enter the inter island market if Alaska Airline doesn’t. The good news is that it appears that significant competition going forward will improve opportunities for reasonably priced airfares between the US mainland and Hawaii as well as inter-island.
Kauai goes Hollywood. Kauai will actually get to play itself in a new movie filmed here starring George Clooney and Judy Greer titled “The Descendants“. the filming has already taken place here and on Oahu and the crew was put up here on Kauai at the Saint Regis Princeville Resort. Scenes were filmed at the resort as well. Approximately $15 million of the $20 million budget was spent filming on Kauai and upwards of 300 extras were hired. The cres talked about the beauty of the island but also the kindness of the people that call this place home. ” Soul Surfer”, a story about our own Bethany Hamiliton is playing in theaters right now and Sonya Chung has a starring role as Bethany’s nemesis. It is hard to see Sonya in a hard edged role when most of us know her as one of the sweetest, kindest, cutest Zumba instructors ever. she and her sister Lila have their own Zumba Studio called Zuga located in Kalaheo. Sonya and Lila were also both models for Roxy but came home to roost here on Kauai.
Taste of Waimea is coming up May 12th from 5-7 PM on the Plantation Lawn at the Aston Waimea Plantation Cottages. The event features pupus, spirits, and Hawaiian music including special musical performances by the Makaha Sons. The event honors all US armed forces with special recognition going those brave soldiers in the Kauai Pacific Missile Range, National Guard stationed in Hanapepe and Kauai veterans. This is a really fun event for a very good cause.