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!

Hawaii Job Market and Commercial Real Estate Up

2014 was a record-breaking year for commercial real estate sales.
February 06, 2015

Hawaii Job Market and Commercial Real Estate Up

Prospective Maui home buyers who are concerned with the economic health of the island should be happy to hear that Hawaii's unemployment rate dropped to 4 percent in December, compared to 4.7 percent in the same month in 2013. The rate is seasonally adjusted, and the information comes from the state Department of Labor & Industrial Relations. hawaii job market and commercial real estate

Concerned with how Hawaii measures up to the rest of the country? The national unemployment rate was 5.6 percent in December, so we are distinctly better off. The good news for the nation is that unemployment dropped by 1.1 percent compared to December of 2013, which is a more substantial change for the better. The more those numbers improve, the better the implications for the visitor industry, and therefore, Maui's economy.

The visitor industry isn't the only one thriving, although it does get a lot of attention. According to Colliers International Hawaii, commercial real estate transactions are actually booming at this point. The market had a record-breaking year in 2014 with $4.5 billion in transactions. The previous record was $4.3 billion. There were a total of 235 transactions in 2014. For reference, 40 percent of those were in the resort/golf/hotel category and 30 percent were in the retail category.

On the list of the five largest transactions, the sale of the Wailea Beach Resort Hotel came in third. We should see some interesting things from this beautiful oceanfront South Maui property, which sold with a $325.7 million price tag. Colliers expects 2015 to be a bit more modest, with 225 transactions over $1 million for a total of $3.8 billion so far.

We hope you've found this blog informative and enjoyable! As always, if you need assistance, you can find our contact information at the bottom of the page. Mahalo for reading this week!

Blogs for February 2015

Fairmont Kea Lani Completes $70 Million Renovation

Posted on February 27, 2015
Fairmont Kea Lani Completes $70-Million Renovation

The Fairmont Kea Lani is poised on a beautiful 22-acre oceanfront Wailea property, its exotic architecture and vivid white coloration like a beacon to the eyes of whoever passes by. The hotel just completed its three-year, $70-million renovation. Now, all of the 413 one-bedroom suites… Continue Reading

Hawaii Residents Confident About Economy

Posted on February 20, 2015
Hawaii Residents Confident About Economy

A report from People's Pulse revealed that Hawaii residents are generally confident about the current economic conditions of the state, as well as the direction it's going. The organization has been tracking confidence since 1999.

What have the numbers looked like over the ups and downs of… Continue Reading

Median Maui Real Estate Prices Down in January

Posted on February 13, 2015
Median Maui Real Estate Prices Down in January

If you've been considering a South Maui real estate purchase, but you're unsure about the timing, you will probably be interested to know that the median price of Maui homes sold in January fell by 17 percent. Of course this is largely due… Continue Reading

Hawaii Job Market and Commercial Real Estate Up

Posted on February 06, 2015
Hawaii Job Market and Commercial Real Estate Up

Prospective Maui home buyers who are concerned with the economic health of the island should be happy to hear that Hawaii's unemployment rate dropped to 4 percent in December, compared to 4.7 percent in the same month in 2013. The rate is seasonally… 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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