According to the Hawaii Tourism Authority, its projection for 2013 arrivals to Hawaii has increased from 8.1 to 8.5 million visitors, a change that will make a major impact on the economy in a positive way, assuming the projection is accurate. After the excellent recovery of Maui’s visitor industry over recent years, we’re not surprised that these trends are expected to continue.
With this increase figured in to expenditure calculations for 2013, the HTA is expecting about $15.8 billion for Hawaii’s economy. At their 2013 Spring marketing update, HTA’s vice president for brand management, David Uchiyama, said that the revisions were made based on the current trends of all the markets.
This is more great news for those interested in buying Maui real estate for use as a vacation rental property. With a dwindling percentage of bank-owned properties on the market, real estate prices are stabilizing at a more normal level, so if you are still looking for a good deal, we would be happy to help advise you.
If you are concerned as to the consistency of the economic recovery in Hawaii, based on the visitor industry, consider 2012, when we reached a tally of just under 8 million visitors. The HTA also expects increased airlift throughout 2013, and there will be a stronger emphasis on Neighbor Island visitor distribution, which is good news for Maui.
Hawaii came close to reaching 8 million visitors in 2012, but fell just short with 7.99 million visitors. Increased airlift throughout 2013 and a focus on visitor distribution to the Neighbor Islands should help the state to surpass the 8 million visitor threshold and potentially reach the HTA’s new visitor arrival goal. Let’s hope the trends that spurred these sunnier projections are everything the HTA expects! Meanwhile, if you need any assistance with your Maui real estate search, you’ll find our contact information at the bottom of the page. Mahalo!