Wall Street Journal on Hawaii Tourism!
November 20th, 2008 categories: Honolulu Real Estate 101, Rants & Riffs
Yesterday’s WSJ had some interesting thoughts on the state of Hawaii’s tourism business.
“High fuel prices earlier in the year, the bankruptcy filings of Aloha Airgroup Inc. and ATA Airlines Inc., which previously served the region, and the nationwide slump in consumer confidence has slammed Hawaii’s tourism industry. It welcomed 9.3% fewer visitors this year through September compared with the year-ago period, according to Hawaii’s Department of Business, Economic Development and Tourism.”
CLICK HERE TO READ THE WALL STREET JOURNAL ARTICLE.
Given this sluggishness, Hawaii is becoming a much better vacation value. So what does this mean for Honolulu real estate?
In the short term, I believe it means it is a very good time to buy…if you are a long-term player. In the long term, I expect the period in which we find ourselves will be viewed as having been a great buying opportunity (isn’t that what I just said?).
On a final note, pray for a nasty, cold winter and, if it happens, Hawaii tourism could turn around very quickly.
Hello from a cold weather town. Looking to cash in on us folks who are already starting to crave the warm weather (and a beautiful beach). I am sure that the tourism will pick up and it is a great point that a cold winter will bring the masses to the Islands for a nice getaway. Keep up the great blog. David