Barbara Abe

A new forecast released by the University of Hawai'i Economic Research Organization says some smaller Asian economies are leading a rebound, but that larger nations, notably the U.S. and Japan, will have less growth.

"The anticipated slow pace of global growth will likely mean a sub-par recovery for Hawai'i," said the report being released today. The forecast concentrates on global economics and is a predecessor to one focusing solely on Hawai'i that will be released next month. One positive is the stronger yen against the dollar, which might result in higher Japanese tourist spending.

Experts agree that Hawaii's rebound from the economic doldrums will depend on the state's leading industry, tourism. "Growth has also returned to the U.S. and Japan, but the depth of the decline, lost household wealth, and lingering credit problems mean that full recovery will take a number of years," the UHERO forecast said.

Read more at Honolulu Advertiser.

With the tax incentives for buyers and homeowners just passed into law, it's a great time to take advantage of our high inventory and reduced prices. It's only a matter of time before our economy - and housing prices - recover. Don't lose this opportunity.

Google announced that O'ahu and Maui are the latest venues covered by Street View, which allows Web users to go from a map view of a spot on Oahu or Mau to zoom in and see what it looks like from ground level. Hawai'i is the 50th state to get the Google Street View technology (the the year of its 50th anniversary of statehood).

The Hawai'i images were captured this summer by a car rigged with an 8-foot-tall stalk topped with a ring of cameras. Now you see your own house, and can rotate the image to see houses on the other side of the street.

Laura Melahn, Google product marketing manager, said in the Google blog, "Being born and raised on O'ahu, I like to think we saved the best for last. With our imagery of O'ahu and Maui, you can now take a virtual vacation to white sandy beaches, revisit special places from your honeymoon, or plan your next getaway. We've worked with the Hawai'i Visitors and Conventions Bureau to create collections in our new Street View Gallery featuring Hawaii's best beaches and hometown favorites of President Obama."

To use the feature on Google maps, drag the orange man icon on the upper left corner onto the spot on the map you'd like to see from ground level. When you open Google Maps, click on "Welcome Hawaii" and the Gallery opens. You can enjoy photos of Sandy Beach (see my earlier post on the high surf there this weekend), Hanauma Bay, Makapuu, and more. To use Google Earth, download Google Earth 5 or open the program. Then zoom in to your favorite Oahu or Maui location, visit Hawaii Kai, and you'll see why it is such a special place. Call or email for "on location" 1st hand information about life in our beautiful Islands.

We often think of Maunalua Bay as Hawaii Kai's main water resource, but Sandy Beach is also in Hawaii Kai, and a rare combination of a strong high pressure to the north and low pressure to the west caused strong surf yesterday all along Oahu's eastern shores. (photo courtesy of Honolulu Advertiser)

Waves of 5 feet inside Hanauma Bay were reported. At Sandy Beach, only the most experienced surfers braved the surf yesterday. Lifeguard Lt. J.R. Sloane said, "It's very rare that we get a swell like this out of the northeast direction."

Lifeguards closed Makapu'u to swimmers. The National Weather Service issued a high surf warning through 6 p.m. today for east-facing shores of O'ahu and Kaua'i. Surf is expected to be 12 to 18 feet and will gradually decrease, but will remain elevated through the weekend, according to the weather service.

All islands are affected. The surf kept a Young Brothers barge from docking at Kahului Harbor on Maui. The ship will try again today after it attempted to enter the harbor twice yesterday. In Hilo, on the Big Island, Bayfront Highway was closed in both directions near Hilo Bay from Waianuenue Avenue to Pauahi Street because of high surf. The high surf prompted Kaua'i officials to issue a warning to beachgoers not to go near wet sand or in the water at all north or east side beaches from Ha'ena, Hanalei and Ke'alia where surf was reported at 15 to 25 feet.

Watch a short video of the surf in Kailua Bay in the Honolulu Advertiser report, and see more photos.

These conditions remind us we live on an island in the middle of lots of water, but it's still beautiful, and gives our surfers plenty of challenges. Contact me for Relocation Information for Hawaii Kai, or if you are on Oahu visiting, let's talk about buying opportunities.

View from Plaza Hawaii Kai Plaza Hawaii Kai

The condo market in Hawaii Kai adjusted downward slightly in October, from 21 sales to 16. Low sale was $365,000 for a 1 bedroom/1 bath in the Heritage House on the 10th floor, and high sale, $615,000 for a 2 bedroom/2 bath in Plaza Hawaii Kai on the 9th floor.

For single family in Hawaii Kai, 26 sales closed both in September and October. This past month, the low sale was a 3/2 zero lot line detached home in Kalama Valley, and the high sale a $2,500,000 sale of a view home on almost .5 acre in Triangle.

To learn more about these condo complexes and neighborhoods, request the free reports for each on my site. I can give you current sales statistics on any community in Hawaii Kai.

Wouldn't you like to wake up to one of these views every day?

EBay founder Pierre Omidyar and his wife, Pam, have given the Hawaii Community Foundation a $50 million gift, believed to be the largest single gift from a living donor in the state's history.

The money will be used to start several community initiatives over six years, as well as support Pierre and Pam Omidyar's ongoing interests through the foundation's Omidyar Ohana Fund.

"Pam and I are privileged to call Hawaii home," Omidyar said in a statement. "Given the economic crisis and hardships throughout the state, we felt it was especially important at this time to expand our philanthropy in the islands."

The couple has supported several local causes and organizations in the Islands. They helped to launch Kanu Hawaii, backed the expansion of Mao Organic Farms in Waianae and most recently launched the Ulupono Initiative, which makes nonprofit grants and for profit investments aimed at sustainability.

Pam grew up in Hawaii Kai and attended Iolani School. She said, "That experience was a strong reminder of the important role community plays in every aspect of life here in the islands." Pierre attended Punahou School in the 8th and 9th grades, from 1979 to 1981. They moved back to Oahu in 2006.

The Hawaii Community Foundation plans to use the first $16 M for 3 initiatives:

1. The Omidyar Ohana Fund will provide a $4 million grant toward the Community Stabilization Initiative, an $8 million, six-year plan to help families and individuals get through the recession through use of government resources, credit counseling and mortgage prevention services. The balance of the cost must be matched by other donors, foundations and government agencies over the next six years.

2. $6 million over six years will go to the Omidyar Innovation Fund, a grant program to be launched next year that will seek to spur innovation in Hawaii's social sector and will provide matching funds for qualifying organizations.

3. The third initiative is a $6 million, six-year challenge grant, to be matched by other donors, for building a sustainable complex at Punahou School to be named the Omidyar Kindergarten-First Grade Neighborhood.

All three of the first initiatives have a matching component. Punahou School will do its own fundraising for the K-1 campus, while the foundation will work on raising donations to match the others.

The Hawaii Community Foundation, a statewide grantmaking organization that works with local nonprofit organizations, has provided more than $160 million in grants and contracts between 2000 and 2008.

The Omidyars have been very active and generous in philanthropy work. They have founded the Omidyar Network, Humanity United and HopeLab. The Omidyar Network plans to spend $30 million over three years to support global entrepreneurship, especially in India and sub-Saharan Africa.

All of Hawaii will benefit for years to come from the gifts by the Omidyars. Mahalo nui loa for your Aloha.

Contact me to learn about our island lifestyle and to consider a real estate purchase while our prices and rates are low. When folks like Pierre and Pam Omidyar choose to make Hawaii home, to come back home, we must have somethng special to offer.

(resource: Pacific Business News)