For many who are deliberating on a permanent move and Hawaii real estate purchase, employment is an important concern. You may know that the Honolulu economy is big, but what if you don't prefer an urban environment? What if you've taken a vacation to Maui and you prefer it over the other islands? In this case, looking at unemployment information may be helpful.
According to the state Department of Labor & Industrial Relations, Hawaii's seasonally adjusted unemployment rate was 4.4 percent in November, which was the same as last month, but 0.9 percent lower than the same month last year. The first thing you should know is that the nationwide seasonally adjusted unemployment rate was 7 percent in November. But how do the islands compare to each other?
The City and County of Honolulu unemployment rate for November was 4.2 percent. Maui County had the next lowest rate at 4.9 percent, and keep in mind that Maui County includes Molokai and Lanai. Kauai County's unemployment rate was 5.5 percent, with Hawaii County (the Big Island) at the top of the list with 6.2 percent. The countywide numbers weren't seasonally adjusted.
It would be interesting to see the breakdown of unemployment within Maui County, based on each of the islands. Maui's population is the largest of the three, but its natural places remain prominent and numerous. There is also a good deal of Maui real estate to choose from, as opposed to the much smaller markets on Lanai and Molokai.
If you feel that Maui is the right choice, we'd be happy to assist you in finding the ideal home, condo, or land to suit your needs. You'll find our contact information at the bottom of the page. Mahalo for reading this week!
RealEstateMauiHawaii.com - By Mark Harbison
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