Gary Bland R (S) E-Pro, ABR

Bank of Hawai‘i Chief Economist Paul Brewbaker addressed a crowd of local business owners at the Maui Chamber of Commerce Economic Update luncheon Feb. 6, and predicted "it is highly likely that our economy will scrape the bottom of the barrel in 2009-before bouncing back in 2010.

"We're definitely in a very treacherous place right now," he said, "and policymakers and government [officials] need to make policies to help us," he continued.

"And for what it's worth, Brewbaker added, Hawai‘i's economic conditions follow a generalized pattern of synchronicity of those on the Mainland. From new housing construction to unemployment rates, the islands are in synch with the national cycle-a sharp contrast from 1990, when the state was at a "peak," and the Mainland was in a "trough." Yet the rise in unemployment is a dark cloud in Hawai‘i's typically sunny skies. "I'm sorry to tell you, but it [unemployment] is ramping up right now," said Brewbaker. "I think Hawai‘i is more exposed to the side effects of this recession."

But despite the doom and gloom overshadowing his first forecast of the new year, Brewbaker guaranteed there will be warmer, sunnier skies on the economic horizon. "Our economic recovery will arrive in the fourth quarter of this year," he said, noting the gradual upturn in tourism, resiliency of "real time" valuation and the efforts of monetary and fiscal policymakers who continue to "look for ammunition."

"Sure, it's been rough," he said, "but I don't think it can get any worse, so hang in there-we'll get through this."

Read more on Maui Weekly and the Bank of Hawai‘i Economics Research Website.

Gary Bland, REALTOR
gary@garybland.com
www.garybland.com
808-385-1265

Partners with Jeff Manson
American Dream Realty
Hawaii real estate team services Maui - Kauai - Oahu - Big Island Hawaii
Hawaii MLS homes for sale search of Oahu - Maui - Kauai - Big Island

There are many beautiful condos on Maui which - because of our economic downturn - have great deals available for buyers! Visit my Hawaii State Condo Guide for details on any of the complexes here on Maui.

Featured this week is the Na Hale O Makena, 4955 Makena Road, Makena, HI 96753. There are 40 units in Na Hale O Makena, which was built in 2002 as a complex across from the ocean in Makena. 6 buildings, each with 2 floors, take up 6.18 acres. Both vacation and long-term rentals are allowed; owner occupancy is 95%; units are sold in fee simple. No pets are allowed.

Amenities include:
BBQ area
Pool
Hot tub/spa
Recreation area
Cabana/Club house
Beach/Beach access
Security Guard
Air Conditioning
Association pays cable
Storage

Apartment Furnishings:
Dishwasher
Refrigerator
Range/Oven
Microwave
Washer/Dryer
Water heater

Interior sq ft runs from 2049/2088 for a 2 or 3 bedroom/2.5 bath home to 2773 sq ft for a 3 bedroom/3.5 bath. 3 units sold in 2008 - a 2 bedroom/2.5 bath home of 2116 sq ft for $1,750,000, a 3 bedroom/2.5 bath of 2116 sq ft for $1,835,000, and a 2 bedroom/2.5 bath home of 2183 sq ft for $1,875.00. Average days on market was 133 for these 3 units. Last sale was July 10, 2008.

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Gary Bland, REALTOR
gary@garybland.com
www.garybland.com
808-385-1265

Partners with Jeff Manson
American Dream Realty
Hawaii MLS Condos search of Maui - Kauai - Oahu - Hawaii
Hawaii homes for sale in Oahu - Maui - Kauai - Big Island

Saturday, March 14, will be the 2nd annual Maui County Ag Festival on the luau grounds of Maui Tropical Plantation in Waikapu. This is a must-attend event for folks who want to learn about local agriculture and its role in a sustainable future Maui. Presented through a partnership with Maui County Farm Bureau and Maui County Office of Economic Development, supported by partners including HI Dept. of Agriculture and UH College of Tropical Agriculture, the festival's goal is to raise and maintain awareness of the viable business of agriculture on Maui and the value of local foods. Festival hours will be 9 - 4; admission free. For Taste Education tickets and more information, visit Maui County Farm Bureau.

Festival Highlights:

1. Farmers Market - talk story with farmers, learn about farm groups

2. Farm Products - discover gourmet items in Grown on Maui produce

3. Farm & Barnyard Games - Ag games kids play

4. Education - Careers supporting Maui Agriculture

5. Information - UH specialists answer farming and pest questions

6. Center Stage - Demonstrations and contest winners

7. Victory Farm - Visit a real on-site farm

8. Wellness - Fresh produce = good health

9. Taste Education - Chefs prepare locally-grown and raised products (fees apply)

Mahalo to Agriculture Hawaii, a quarterly magazine of the Honolulu Advertiser, for resources used in this blog.

See you there!

Gary Bland, REALTOR
gary@garybland.com
www.garybland.com
808-385-1265

Partners with Jeff Manson
American Dream Realty
Hawaii team services Maui - Kauai - Oahu - Big Island Hawaii plus Hawaii foreclosures
Hawaii real estate search of Oahu - Maui - Kauai - Big Island

Coastal Living has named Mama's Fish House as one of the 10 most romantic island inns in the U.S. (Read what Coastal Living has to say on Maui.)

Mama's Fish House, just off the scenic Hana Highway, features a handful of cottages under coconut palms on Maui's North Shore. The decor is Old Polynesia and the atmosphere low-key, typical of tropical laid-back attitude.

As reported by CNN, "A short drive west takes you to the town of Paia. A short drive east reveals the bright sails of windsurfers swooping just off Hookipa Beach. And simply staying put ensures the pleasures of lounging on the sand in front of your cottage or savoring the seafood at Mama's Fish House Restaurant next door. "

No need to rough it here. Amenities include A/C, kitchens, wireless access & fax, laundry facilities, private phone line, TV & DVD player, daily maid service, in-room safe, free parking, and beach BBQ. Each unit is unique - the 2-bedroom floor plan shown on the web site is 850 sq ft.

Executive garden guest rooms offer a private courtyard, king bed, kitchenette and luxury bath. Rooms from $450/night, designed for couples who want a romantic hideaway.

Luxury beachfront cottages also offer a fully equipped kitchen and large covered open lanai facing the blue Pacific off Maui. These are $575.00/night.

Contact the Inn at Mama's Fish House, 808-579-9764, 800-860-HULA. 799 Poho Place, Paia, HI 96779, inn@mamasfishhouse.com. Be sure and visit Mama's Fish House for promotions and reservations.

When you're ready to think about the real estate opportunities here, after you relax at Mama's for a few days, contact me to show you the island.

Gary Bland, REALTOR
gary@garybland.com
www.garybland.com
808-385-1265

Partners with Jeff Manson
American Dream Realty
real estate in Hawaii on the following islands Maui - Kauai - Oahu - Hawaii Big Island
Hawaii Oahu real estate company offers Oahu - Maui - Kauai - Big Island

The Maui News ran a depressing story today for hotel owners, but good news for travelers planning a get-away to Maui:

"Maui hotel occupancy rates plunged to 56.8 percent in December, capping a sickening plunge that consultant Joseph Toy called the most dramatic in 25 years of observing.

Statewide occupancy rates have not been as low since December 2001. They were 60.9 percent, down from 70.4 percent in December 2007.

In a normal year, December is a split month on Maui. The first days are typically slow, the tail end of a generally soft period that begins with September. Then, toward the end of the month, rooms are scarce as the high season gears up.

Not this past December. While occupancy had been 71.2 percent in 2007, it was 14.4 percentage points lower in 2008.

The slide in occupancy accelerated a little on Maui compared with November, although Maui's occupancy numbers have been tumbling for months now." Read the entire article on the Maui News.

The good news is the strong euro price against the dollar, and low airfares. The hospitality industry will welcome visitors and do all they can to insure you want to come back.

Bookings in maui vacation rentals are done as well.

While you are here, spend some time looking at the real estate values - it's a buyer's market and we have great opportunities for investors!

Gary Bland, REALTOR
gary@garybland.com
www.garybland.com
808-385-1265

Partners with Jeff Manson
American Dream Realty
homes for sale in Hawaii on the following Maui - Kauai - Oahu - Hawaii Big Island
Oahu real estate company offers Oahu - Maui - Kauai - Big Island