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Hawaii Unemployment and Bankruptcy Claims Fall in January

Positive statistics for Hawaii's economy in January.
February 08, 2013

Hawaii Unemployment and Bankruptcy Claims Fall in January

Home on Maui

By Mark Harbison

During the month of January, Hawaii unemployment claims fell by 20 percent and bankruptcy claims fell by 25 percent. These substantial changes are great news, especially the bankruptcies, which haven't been at such a low level since January of 2008, according to the U.S. Bankruptcy Court in Honolulu.

There were 159 bankruptcy filings in January this year, as opposed to 212 filings during the same month last year. Year over year, Chapter 7 filings fell by 31.5 percent, while Chapter 13 filings fell by 4.3 percent.

The unemployment data came from the state Department of Business, Economic Development and Tourism, which reported that there were 1,616 initial jobless claims filed statewide during the week that ended on January 26th. That was 20 percent lower than the same week last year. Unemployment filings are tracked on a weekly basis, rather than monthly, but it's still good news for January.

This information is encouraging for Hawaii's economy as a whole, and isn't very surprising, considering our growth in visitor arrivals and spending, combined with more commercial construction projects and the recent increase in state jobs.

Those looking for a home on Maui as a full time residence that are concerned with making a living should find this news encouraging. As for those in the market for a Maui investment property to use as a part-time residence, there are some excellent vacation rental management companies on the island.

We hope that these positive trends continue, and that the rest of the country follows a similar pattern with Hawaii. After all, our economy is influenced heavily by tourism, which comes from the U.S. mainland, and new Maui homeowners often move here from all over the country looking for a relaxed lifestyle, a beautiful natural environment, and warm weather. If you need any assistance with your search for Maui real estate, you'll find our contact information at the bottom of the page. Mahalo!

Blogs for February 2013

Hawaii State Revenue Increases by 12 Percent

Posted on February 22, 2013
Hawaii State Revenue Increases by 12 Percent

By Mark Harbison

Despite continuous reports on economic progress on Maui and throughout the state of Hawaii, a few individuals remain skeptical as to the validity of the news, and those responsible for gathering data on things like Maui real estate information, business performance, personal… Continue Reading

New Andaz Maui at Wailea Resort

Posted on February 15, 2013
New Andaz Maui at Wailea Resort

By Mark Harbison

An exciting new South Maui development recently made the news, and it's the Andaz Maui at Wailea. This 15-acre luxury resort is scheduled to open this summer. They've been working on it for about a year, with a $90 million price tag, but… Continue Reading

Hawaii Unemployment and Bankruptcy Claims Fall in January

Posted on February 08, 2013
Hawaii Unemployment and Bankruptcy Claims Fall in January

By Mark Harbison

During the month of January, Hawaii unemployment claims fell by 20 percent and bankruptcy claims fell by 25 percent. These substantial changes are great news, especially the bankruptcies, which haven't been at such a low level since January of 2008, according… Continue Reading

Maui Heart Disease Fundraiser for Women

Posted on February 01, 2013
Maui Heart Disease Fundraiser for Women

By Mark​ Harbison

Are you passionate about fighting heart disease? It is still the leading cause of death in the U.S. so chances are good that your life has been influenced by it in some way or another. If you consider how fast technology is evolving… Continue Reading

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Mark and Lisa

Mark A Harbison
R(B) (GRI) (CIPS) (TRC)

Mark@RealEstateMauiHawaii.com

(808) 283-3785

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