Real Estate Maui Hawaii Blog

Mark and Lisa bring you the latest on the Hawaii real estate market, events, fundraising benefits, news, sports, new island developments, tips to help you buy or sell a home and more. Subscribe to receive updates on our weekly blog today!

Wailea Resort Performance and South Maui Real Estate

The value of South Maui real estate and vacation experiences.
August 01, 2014

Wailea Resort Performance and South Maui Real Estate

South Maui Real EstateThe visitor industry influences many aspects of life on Maui, and especially South Maui, our favorite part of the island. A recent report from Hospitality Advisors LLC and STR Inc. revealed that Hawaii's average daily room rates rose almost 4 percent in May, compared to the same month last year. Occupancy also nudged up 0.6 percentage points to 72.7 percent. Thanks to these combined factors, hotels earned $390 million that month, which is a new record for the month of May. That's the statewide data, but what about Maui?

Maui has always had a higher average daily room rate than the other islands, and May was no exception, with a 3.1 percent increase to $261.20. Fortunately, there was also some occupancy growth, which came out to a 1.1 percent increase for 67.3 percent. The interesting part for prospective South Maui real estate buyers is that the luxury Wailea resort area performed better than the island-wide averages.

The Wailea resort area saw a 4.2 percent increase in occupancy to 71.9 percent, and a 2 percent increase in average daily room rates to $377.82. Compare that to the rest of Maui, and then to the rest of the state, and it proves that there are visitors willing to spend more for what they consider a preferable experience.

For those of you who want to live in the place where so many people drop so much money to visit, we're here to assist you in every step of the real estate purchase process. Keep in mind that while real estate is expensive here, there are still good deals to be found if you have a realistic attitude. Tourism is up, the economy is up, home prices are up, and Hawaii's home appreciation is excellent.

If you need our assistance, as always, you'll find our contact information at the bottom of the page. Mahalo!

RealEstateMauiHawaii.com - By Mark Harbison

Blogs for August 2014

Join Our Tennis Tourney Fundraiser

Posted on August 29, 2014
Join Our Tennis Tourney Fundraiser

Fun, productive community events are a major point of interest for us. When we're not assisting those in search of their South Maui dream home or condo, we like to be involved in events that bring the community together. That's why we'd like to share our… Continue Reading

Hawaii Foreclosures Down in July

Posted on August 22, 2014
Hawaii Foreclosures Down in July

According to RealtyTrac, Hawaii foreclosures plunged by 50 percent in July, compared to the same month last year. Why such a dramatic change? Yes, the economy has been improving, but there are a few factors in particular that analysts credit. First, unemployment has fallen significantly since… Continue Reading

New South Maui Residential Development

Posted on August 15, 2014
New South Maui Residential Development

Keeping an eye on South Maui real estate developments? Alexander & Baldwin Inc. recently won their final zoning approval for the 600-unit housing project they've been planning for 95 acres in the South Maui area. Low housing inventory and high demand are major driving forces behind… Continue Reading

Construction Trends and the Economy

Posted on August 08, 2014
Construction Trends and the Economy

In a time of such economic transition, it can be hard to get a clear assessment of where we stand, not just on a state level, but on a national level as well. The construction market can tell us a whole lot about conditions in various… Continue Reading

Wailea Resort Performance and South Maui Real Estate

Posted on August 01, 2014
Wailea Resort Performance and South Maui Real Estate

The visitor industry influences many aspects of life on Maui, and especially South Maui, our favorite part of the island. A recent report from Hospitality Advisors LLC and STR Inc. revealed that Hawaii's average daily room rates rose almost 4 percent in May,… Continue Reading

Archives
Mark and Lisa

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

Mark@RealEstateMauiHawaii.com

(808) 283-3785

Coldwell Banker Island Properties
Shops at Wailea, Suite B-35
3750 Wailea Alanui * Kihei, HI 96753
Meyer Computer, Inc.
Web Services provided by Meyer Computer, Inc.
Web Hosting & Design