Honolulu Hotel Occupancy Leads Hawaii
August 19th, 2010 categories: The Market
Pacific Business News is reporting the following.
“Oahu maintained the highest occupancy rate at 87.8 percent, up 4 percentage points from a year ago.”
CLICK HERE TO READ THE ENTIRE ARTICLE
This may explain why a past client mentioned that Honolulu doesn’t feel like it is having economically hard times. He noted that malls and restaurants are packed. What does this mean for Honolulu real estate?
Though hotel occupancy is a single indicator, it is one of the more important ones in our market. As tourism improves, businesses reliant on visitors will do better and this will strengthen other sectors too. If you have not yet purchased your part of Oahu, then now may be a great time to do to step up and buyer your house or condo.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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Seats For More Behinds
August 6th, 2010 categories: The Market
A friend of mine in the car business once told me, “There is an okole for every seat”. One of the challenges Hawaii’s tourism market faced over the last few years was the loss of air carrier flights. The fewer the flights and the fewer the people that could come to our beautiful islands. The Honolulu StarAdvertiser is reporting the addition of a significant number of airline seats.
“An influx of new airline seats to Hawaii from the mainland this year will make up about half of the 1 million seats that were lost in 2008 and 2009.” CLICK HERE TO READ THE ENTIRE ARTICLE
Additional flights will mean more tourists and this will lead to a further recovery of our very important tourism market. As tourism gets healthier demand for Honolulu real estate will rise, which means now may be a terrific time to buy. Let’s hope the additional seats fill quickly with more okoles.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net
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Recovering Tourism-Good For Honolulu Real Estate
July 8th, 2010 categories: The Market
Pacific Business News is reporting a significant increase in hotel occupancy rates.
“Oahu maintained the highest occupancy rate at 86.3 percent, up 11 percentage points from a year ago.”
CLICK HERE TO READ THE ENTIRE ARTICLE
Since tourism is one of the main driving forces in our economy, increasing hotel occupancy rates portend the need for more employees and goods. As these increase, you should see positive growth in our local economy. I am hopeful that this positive momentum will continue to build and that our real estate market has bottomed. The last sentence may sound cautious and it is meant to seem that way. My concern has a great deal to do with the national economy and Federal governmental policies. Without expanding on my trepidation, let’s look for the best.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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The Gulf Oil Spill, Tourism & Honolulu Real Estate
June 24th, 2010 categories: Rants & Riffs, The Market
My recent conversation with a high-level hotel insider leads me to believe that the tragedy in the Gulf of Mexico will lead to a pick up of tourism in Hawaii. If this happens, there will be a positive impact on the economy and, if that happens, Honolulu real estate should gain positive benefits.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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Tourism’s Improvement A Good Sign For Real Estate
June 14th, 2010 categories: The Market
The new StarAdvertiser newspaper is reporting a strengthening tourism market.
“Hawaii hotels inched closer to recovery in April, with still-heavy discounting feeding into marginal gains in occupancy and room tax revenue.”
CLICK HERE TO READ THE ENTIRE ARTICLE
Remember, real estate markets are driven by attitudes and over the last few months we have been seeing more and more good news coming into the Honolulu home and condo market. If it continues, the first half of 2010 may be viewed as the turning point in our market.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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Improving Tourism-Good Sign For Honolulu Real Estate
May 11th, 2010 categories: For Buyers, The Market
The Honolulu Advertiser is reporting some very good news about the Hawaii tourism market.
“Average statewide occupancy rose to 70.6 percent in March from 65.2 percent a year earlier. Occupancy has increased in six out of the past seven months. But with deep discounting, hotels hadn’t been able to post an increase in revenue per available room — until March.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE
This is just another bit of good news that points to an improving economy. As markets get healthier, the job market should get well and real estate should move in concert. Combine this good news with good prices and low interest rates and it may be the time for Honolulu home buying fence sitters to buy. Here is a caveat, buy within your means and plan on living in the home for at least 3 years or longer.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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Let The Good News Roll
April 28th, 2010 categories: The Market
Markets are driven by a compilation of attitudes and news. Lots of negative news and we see attitudes go negative. This is what we saw in 2007 and 2008, and then we saw the proverbial “stuff” hit the fan. Right now I see the opposite happening, more and more good news is showing up and I am finding lots of people starting to feel good about their prospects and the Honolulu real estate market. Today’s Honolulu Advertiser is reporting a strengthening tourism market.
“Industry leaders say they expect the gains to continue in the months ahead given the number of flights to Hawai’i being added by airlines this spring and summer.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICLE
What does this mean for real estate in core Honolulu? At a minimum, it is a safe bet that our market has bottomed (in most market segments) and I am starting to sense that leading indicator markets are firming. This means it may be a great time to buy if you have not already yet done so!
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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Silver Lining In Cloud Of Doom
February 25th, 2010 categories: The Market
AS mentioned in previous blogs tourism is important to Honolulu’s economy and a recent article in the Honolulu Advertiser confirms that 2009 was a brutal year for hoteliers.
“2009 has been a tough year for the visitor industry both in Hawai’i and nationally,” Toy said. “The speed and depth of the downturn was unprecedented and the hotel industry has never experienced the level of rate discounting that is still in the market.” CLICK HERE TO READ THE ENTIRE HONOLULU ADVERTISER ARTICL
Here is the silver lining. Everything cycles and before things can go up they need to bottom out. Later in the article they go on to say the following, “However, the lower hotel rates, along with aggressive marketing and more flights to the Islands, appear to be helping stem the decline in occupancy.” What does this mean for Honolulu real estate?
Even with slowness in tourism, I believe the Honolulu real estate market is at a bottom and may be experiencing some appreciation. This means that as other economic sectors improve (tourism as an example), you will see Honolulu real estate prices get better too. The moral of the story for buyers is that now is the time to buy. For sellers, in the short-term, because of good financing and firming values, it is a good time to sell. Over the long haul if you can wait your real estate should experience significant appreciation.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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Good Signs From The California Market
February 17th, 2010 categories: The Market
The Los Angeles Times online is reporting some really good news.
“Home sale prices in Southern California showed fresh strength in January, bouncing 8.6% from the same month one year earlier — a period when the market was inundated with steeply discounted bank-owned properties.” CLICK HERE TO READ THE LA TIMES ARTICLE
As I have said in the past, in order for the Honolulu real estate market to get really healthy, the Hawaii tourism business needs to get stronger. In the past, Californians have made up a large percentage of visitors to Hawaii, so an improving Southern Californian real estate market may portend good things for their economy and for us.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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Strengthening Tourism Good For Honolulu Real Estate Market
December 23rd, 2009 categories: Rants & Riffs, The Market
Call it trickle down economics or whatever you like, but Pacific Business News in reporting positive things for Honolulu’s tourism market.
“Compared with the first half of the year, the last three months have been downright prosperous, helped by annual events like the marathon and North Shore surfing, and international conventions that drew tens of thousands of attendees.” CLICK HERE TO READ THE ENTIRE ARTICLE
As tourism improves, the Hawaii job market will improve and as it improves almost everything else will get better. Here is another sign that improvement is coming which means that today’s home and condo prices could be at or very near the low in the real estate market.
To me, the big question is when we will start to see price appreciation and I don’t have a clear answer. Traditionally, the core Honolulu single-family residence market leads the Oahu real estate market out of recession. Given the low level of inventory at the end of November, I expect a change sooner than later.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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