The ending of Maui's sugarcane production has been a hot and contentious topic this year. If you've been keeping an eye on the news along with the Maui real estate market, this subject has been hard to miss, and signifies a dramatic change to the island's agricultural landscape, not to mention the ending of a long and rich era of our history. News has recently come down the pipeline that Hawaiian Commercial and Sugar Co.'s land could be used for renewable energy projects, such as biofuel crops.
Hawaiian Commercial and Sugar Co. is a subsidiary of Alexander and Baldwin Inc. (A&B), which has been in discussion with Hawaiian Electric Co. (HECO) about a potential deal for renewable energy. With 36,000 acres currently transitioning out of sugar production, the question is how to keep that land productive for its owners and the economy. Currently, hemp is under consideration as a biofuel crop, along with other kinds of renewable energy projects.
According to Alan Oshima, president and CEO of Hawaiian Electric, different kinds of crops have been considered in the past, and new technologies may be considered for implementation in the future. In any case, he has made assurances that discussions will continue between HECO and A&B.
Hawaiian Electric is also in discussion with other large landowners in Hawaii, including Kamehameha Schools, which is the largest private landowner in the state. According to Oshima, the island of Maui is a priority for renewable energy development, and so is the exchange of information they are fostering with A&B.
Hawaiian Commercial and Sugar Co. operations involved over 600 employees slated to be laid off, so residents are watching future development plans very carefully. Their decisions will have a big influence on Maui's economy, jobs and even its culture moving forward, just as they have in the past.
We'll continue to follow these changes as they unfold, so check back each Friday for our latest Maui real estate and lifestyle blog post if you're interested. If you need our assistance with your Maui real estate search, you'll find our contact information at the bottom of the page. Mahalo!
Finding an affordable Maui condo in South Maui is easier than you might think, despite rising real estate prices. You just have to know where to look. This week, we'd like to feature Kamaole Beach Royale Resort, located across the street from Kamaole Beach Park I and just a short walk from many of Kihei's shops, activities and restaurants.
Aside from its convenient location, Kamaole Beach Royale condos offer a nice breadth of floor plan choices, ranging from one bed/one bath to two and three bedrooms/two baths. Some feature breathtaking ocean vistas, where flaming sunsets light up the sky each night over the ocean and the neighboring islands. These condos are ideal for use as a primary residence, a secondary vacation home, or just for use as a short-term vacation rental. The amenities add to the property's comfort and appeal.
Kamaole Beach Royale features a charming swimming pool surrounded by a lush, tropical garden. Speaking of gardens, there is actually a rooftop garden as well. It's a great spot for getting some sun and spending time with friends. The Aloha Room is also available for uses like conferences and family functions.
Listings currently include one bed/one bath units ranging from about $390,000 to $480,000. If you are searching for an affordable South Maui condo, this is one resort that's worth checking back on for future listings that might meet your needs and preferences. If price and location are your priorities, Kamaole Beach Royale may have just what you're looking for.
If you have any questions for us, or you'd like to schedule a viewing at a listing that interests you, we'd be happy to help. If you need us to help you narrow down your search, we will be glad to put our many years of expertise to work on your behalf. Should you need to reach us, you'll find our contact information at the bottom of the page. Mahalo!
Thinking about buying a Maui home or condo for use as a vacation rental property? Many savvy buyers have observed that Hawaii's slow and steady visitor industry growth has been widely covered in business related news throughout the post recession years. Mostly, the information involves statistics on daily spending, hotel occupancy, etc. But another significant indicator of the visitor industry and Hawaii's economic performance in general comes from the airlines.
Hawaiian Airlines recently reported a 3.6 percent increase in their number of passengers in March, compared to the same month last year. The figure jumped from 887,346 to 919,547. Since the airline tends to be highly rated in customer satisfaction and is often the most on-time carrier in the U.S., it has become popular not only with vacationers, but also with residents and business travelers. As such, it tends to be a pretty good barometer for Hawaii's growth.
The airline also reported a 5.3 percent increase in traffic (revenue passenger miles) during the same period, and a capacity (available seat miles) increase of 3.1 percent. Load factor (percentage of seating filled) was up 1.7 percent to 82.9 percent full.
In the Maui real estate market, we often urge buyers to look at long-term trends for the clearest picture of industry performance, and that is no different for the airlines, which is why the year-to-date statistics were so interesting. So far this year, Hawaiian Airlines' passenger count was up 4.9 percent to 2.65 million. Traffic was up 5.8 percent, capacity 3.3 percent, and load factor up 2 percent to 81.1 percent. It's a good sign when the year-to-date statistics show more growth than you see in a given month.
When it comes to real estate investments, getting a sense of the big picture is vital, and we hope this information has helped in that regard. For more information about the real estate market itself, or finding the right property for your needs, we would be happy to assist you. If you should need us, you'll find our contact information at the bottom of the page. Mahalo!