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Hawaii Residents Confident About Economy

Economic confidence is up, based on job and income security.
February 20, 2015

Hawaii Residents Confident About Economy

Hawaii HomeA 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 recent years? At the worst point of the recession, confidence was at 61, while it was highest in 2005 at 151. Over the past year, confidence is between 114 and 116. The Resident Confidence Index starts at a base level of 100, which was established in 1999. Anything over 100 is positive, while anything under is negative.

The recession had a tremendous impact on the attitude of Hawaii home owners and residents, just as it did throughout the rest of the nation. In fact, it's safe to assume that a residual caution remains in the minds of the people, which continues to influence confidence levels. What would our number have been if there was no recession? How much of that residual caution is affecting our number, and how much of our confidence is rooted in current conditions versus fear of another bout of instability?

Despite the cautiousness instilled by the recession, our confidence is higher than the baseline. If the Hawaii real estate market is any indication, with its high demand and low inventory, we have more than enough confidence to go around. People's Pulse is measured by OmniTrak Group, a Honolulu research and market planning firm. Its president, Kathy Fujihara-Chong, expressed that people are now optimistic and comfortable about the future, while maintaining their caution. She also expressed that job and income security are both factors in our confidence levels, along with what is currently happening in the state.

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

Mark@RealEstateMauiHawaii.com

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