Date: Saturday, August 6, 2011
Time: 9:00am – 10:00am
Location: Good Shepherd Church Parish Hall, Wailuku
(Below McDonald’s at 2140 Main Street)
RSVP: by August 5, 2011 to Na Hale O Maui
(808)244-6110
Email: Info@nahaleomaui.org
Friday, July 29, 2011
Wednesday, July 27, 2011
Maui Continues To Enjoy Increased Tourism As 607,264 Tourists Visited The State In June ~ Tourist Spending Remains Strong
Tourist arrivals down 2.9% in June, but spending increased
By Alan Yonan Jr.
Article from: Star-Advertiser
The number of visitors traveling to Hawaii declined in June for the first time in nearly two years amid rising airfares, but visitor spending continued to rise at a near-record pace, the Hawaii Tourism Authority reported Tuesday.
The 607,264 tourists who came to the state in June represented a 2.9 percent decline from June 2010, HTA said. It was the first drop since November 2009 when arrivals fell by 1.8 percent. Visitor spending totaled $1.04 billion in June, $120 million more than the same month a year earlier.
At the current pace, spending is on track to hit $12.6 billion this year, just shy of the record $12.8 billion visitors pumped ino the Hawaii economy in 2007, said Mike McCartney, HTA president and chief executive officer. HTA also is projecting visitor arrivals to reach 7.3 million in 2011, which would be the fourth highest on record.
MONEY TALKS
The monthly visitor expenditures of visitors to Hawaii and the percentage change from the year-ago period.
2011
MONTH SPENT CHANGE
June $1.04B +13.1%
May $912.3M +5.9%
April $920.7M +20.2%
March $980.7M +11.8%
February $1.01B +18.7%
January $1.18B +19.8%
Total $6.04B +18.4%
2010
MONTH SPENT CHANGE
December $1.11B +17.9%
November $976.0M +30.4%
October $961.5M +24.7%
September $880.2M +22.2%
August $1.08B +30.0%
July $1.11B +23.3%
June $948.9M +16.1%
May $861.4M +15.9%
April $765.8M -0.7%
March $877.3M +12.0%
February $853.5M +0.8%
January $985.8M +4.1%
Total $11.4B +16.2%
Source: Hawaii Tourism Authority
Business is brisk at many Hawaii enterprises that cater to tourists. Thomas Kafsack, who owns Surfing Goat Dairy on Maui with his wife, Eva Maria, said sales at the popular tourist attraction were up 41 percent in June from the same month last year.
“The last two years have been pretty good, but things really took off this year when we added goat cheese truffles to our selection. People have been buying them like crazy in our shop and on the Internet,” Kafsack said.
He also said several companies that are hosting APEC-related events on Maui have booked Surfing Goat Dairy to provide food for their events this fall.
Maui was the only major island with an increase in visitors in June, with arrivals rising by 2.2 percent. June arrivals were down 6.3 percent on Hawaii island, 4.5 percent on Oahu and 0.4 percent on Kauai.
June’s statewide decline in tourist arrivals followed a meager 0.6 percent increase in May, both months in which airfares from the mainland to Hawaii were up by double digits over year-earlier levels. Airfares were 27 percent higher in June and 17 percent higher in May, according to HTA. Another factor that could be suppressing arrivals is rising hotel room rates.
The average daily room rate in Hawaii rose 10 percent to $175.92 in May and is expected to increase again in June.
Arrivals from all major tourist markets declined in June, except for Canada. The biggest drop was from Japan, which is still recovering from an earthquake, tsunami and nuclear plant breach in March. The 84,950 visitors who traveled to Hawaii from Japan in June was about 16,000 fewer than in June 2010. Through the first six months of the year, arrivals from Japan are down 9 percent from the same period in 2010.
Cliff Tai, who owns Hawaii Beach Bums luggage and surfboard storage in Honolulu, said his business picked up when several airlines added flights to Hawaii this spring.
Tai said he still has not fully recovered from the closing of Aloha and ATA airlines in 2008 and the subsequent downturn in tourism. Hawaii Beach Bums relies on tourists for its luggage storage business, while many of its surfboard storage customers are pilots and flight attendants who want to get in a quick surfing session during a layover in Honolulu, he said.
“I’m glad to see that Alaska Airlines is adding a flight from San Diego this fall. I’d like to see more direct flights from the mainland,” Tai said.
By Alan Yonan Jr.
Article from: Star-Advertiser
The number of visitors traveling to Hawaii declined in June for the first time in nearly two years amid rising airfares, but visitor spending continued to rise at a near-record pace, the Hawaii Tourism Authority reported Tuesday.
The 607,264 tourists who came to the state in June represented a 2.9 percent decline from June 2010, HTA said. It was the first drop since November 2009 when arrivals fell by 1.8 percent. Visitor spending totaled $1.04 billion in June, $120 million more than the same month a year earlier.
At the current pace, spending is on track to hit $12.6 billion this year, just shy of the record $12.8 billion visitors pumped ino the Hawaii economy in 2007, said Mike McCartney, HTA president and chief executive officer. HTA also is projecting visitor arrivals to reach 7.3 million in 2011, which would be the fourth highest on record.
MONEY TALKS
The monthly visitor expenditures of visitors to Hawaii and the percentage change from the year-ago period.
2011
MONTH SPENT CHANGE
June $1.04B +13.1%
May $912.3M +5.9%
April $920.7M +20.2%
March $980.7M +11.8%
February $1.01B +18.7%
January $1.18B +19.8%
Total $6.04B +18.4%
2010
MONTH SPENT CHANGE
December $1.11B +17.9%
November $976.0M +30.4%
October $961.5M +24.7%
September $880.2M +22.2%
August $1.08B +30.0%
July $1.11B +23.3%
June $948.9M +16.1%
May $861.4M +15.9%
April $765.8M -0.7%
March $877.3M +12.0%
February $853.5M +0.8%
January $985.8M +4.1%
Total $11.4B +16.2%
Source: Hawaii Tourism Authority
Business is brisk at many Hawaii enterprises that cater to tourists. Thomas Kafsack, who owns Surfing Goat Dairy on Maui with his wife, Eva Maria, said sales at the popular tourist attraction were up 41 percent in June from the same month last year.
“The last two years have been pretty good, but things really took off this year when we added goat cheese truffles to our selection. People have been buying them like crazy in our shop and on the Internet,” Kafsack said.
He also said several companies that are hosting APEC-related events on Maui have booked Surfing Goat Dairy to provide food for their events this fall.
Maui was the only major island with an increase in visitors in June, with arrivals rising by 2.2 percent. June arrivals were down 6.3 percent on Hawaii island, 4.5 percent on Oahu and 0.4 percent on Kauai.
June’s statewide decline in tourist arrivals followed a meager 0.6 percent increase in May, both months in which airfares from the mainland to Hawaii were up by double digits over year-earlier levels. Airfares were 27 percent higher in June and 17 percent higher in May, according to HTA. Another factor that could be suppressing arrivals is rising hotel room rates.
The average daily room rate in Hawaii rose 10 percent to $175.92 in May and is expected to increase again in June.
Arrivals from all major tourist markets declined in June, except for Canada. The biggest drop was from Japan, which is still recovering from an earthquake, tsunami and nuclear plant breach in March. The 84,950 visitors who traveled to Hawaii from Japan in June was about 16,000 fewer than in June 2010. Through the first six months of the year, arrivals from Japan are down 9 percent from the same period in 2010.
Cliff Tai, who owns Hawaii Beach Bums luggage and surfboard storage in Honolulu, said his business picked up when several airlines added flights to Hawaii this spring.
Tai said he still has not fully recovered from the closing of Aloha and ATA airlines in 2008 and the subsequent downturn in tourism. Hawaii Beach Bums relies on tourists for its luggage storage business, while many of its surfboard storage customers are pilots and flight attendants who want to get in a quick surfing session during a layover in Honolulu, he said.
“I’m glad to see that Alaska Airlines is adding a flight from San Diego this fall. I’d like to see more direct flights from the mainland,” Tai said.
Tuesday, July 26, 2011
A Great Article On Real Estate Myths And The Importance of Knowing Local Real Estate Trends Not Nationwide
Don’t fall for real-estate myths in this market
You’re not going to get 50% off the asking price on a home, and the good houses in the good neighborhoods go fast.
Posted by Teresa at MSN Real Estate
Article from: RealEstate.MSN.Com
It’s easy to think that because we’re in a buyers market, buyers can call all the shots: Wait weeks before deciding whether to make an offer on a particular house, find grateful acceptance of lowball offers or scoop up homes for 50% of the asking price.
Your worst real-estate enemy? You
Good luck with that. Clinging to those and other popular myths may keep you from getting the house you want.
I’m always amused to see how unrealistic some of the would-be buyers are on the TV house-hunting shows. But when I was 25, I knew everything, too — even if I didn’t realize my life would never be complete without granite countertops and stainless-steel appliances.
Syndicated columnist Lew Sichelman had a column in last weekend’s Los Angeles Times about some of the real-estate myths that can keep buyers from getting the homes they want.
“… many people believe they can make any bid they want, no matter how ridiculous, because it’s a buyers market. False,” he wrote. “Even foreclosures and short sales are never priced at half their value ‘or anything even close to that type of fire-sale discount,’ says Christina Rordam of Exit Real Estate Results in Longwood, Fla.”
Is the buyers market a mirage?
No one can predict how a particular seller will respond to an offer, whether the seller is an individual or a bank. If the seller doesn’t like you, you run the risk that he will refuse to deal with you.
Here are some other myths that could doom your purchase:
If the house has been on the market a long time, the seller will take a low offer. Wrong. The house could be on the market a long time because the seller not only won’t take a low offer but also won’t take a reasonable offer.
A distressed property is always cheaper. Maybe it is and maybe it isn’t. Lenders aren’t always logical in their negotiations, so you may get as good a deal or better from a realistic homeowner.
If you look long enough, you’ll find your perfect house. Afraid not. The perfect house doesn’t exist, at least not in your price range. And that’s true no matter what your price range.
Your family and friends will give you good advice about real estate. They’ll give you advice, all right. But it is unlikely to be as good as the advice you’ll get from a professional.
We’ll offer one more piece of advice: All real estate is local. Very local.
Don’t fall victim to a lying seller
That means that while it may be a buyers market nationwide, or even in your city, it could easily be a sellers market in your first-choice neighborhood. Do your homework.
Look at houses for sale in your desired neighborhood
If you’re thinking of buying a home, we suggest you dig into the articles in in the homebuyer’s section of MSN Real Estate. That should save you from a few misconceptions and a lot of wasted time.
**Thank you to Teresa at MSN Real Estate for this important insight on knowing your local real estate market and consulting a real estate professional. If you have questions about a particular property or a particular area please call The Hansen Ohana directly at (808)879-3667**
You’re not going to get 50% off the asking price on a home, and the good houses in the good neighborhoods go fast.
Posted by Teresa at MSN Real Estate
Article from: RealEstate.MSN.Com
It’s easy to think that because we’re in a buyers market, buyers can call all the shots: Wait weeks before deciding whether to make an offer on a particular house, find grateful acceptance of lowball offers or scoop up homes for 50% of the asking price.
Your worst real-estate enemy? You
Good luck with that. Clinging to those and other popular myths may keep you from getting the house you want.
I’m always amused to see how unrealistic some of the would-be buyers are on the TV house-hunting shows. But when I was 25, I knew everything, too — even if I didn’t realize my life would never be complete without granite countertops and stainless-steel appliances.
Syndicated columnist Lew Sichelman had a column in last weekend’s Los Angeles Times about some of the real-estate myths that can keep buyers from getting the homes they want.
“… many people believe they can make any bid they want, no matter how ridiculous, because it’s a buyers market. False,” he wrote. “Even foreclosures and short sales are never priced at half their value ‘or anything even close to that type of fire-sale discount,’ says Christina Rordam of Exit Real Estate Results in Longwood, Fla.”
Is the buyers market a mirage?
No one can predict how a particular seller will respond to an offer, whether the seller is an individual or a bank. If the seller doesn’t like you, you run the risk that he will refuse to deal with you.
Here are some other myths that could doom your purchase:
If the house has been on the market a long time, the seller will take a low offer. Wrong. The house could be on the market a long time because the seller not only won’t take a low offer but also won’t take a reasonable offer.
A distressed property is always cheaper. Maybe it is and maybe it isn’t. Lenders aren’t always logical in their negotiations, so you may get as good a deal or better from a realistic homeowner.
If you look long enough, you’ll find your perfect house. Afraid not. The perfect house doesn’t exist, at least not in your price range. And that’s true no matter what your price range.
Your family and friends will give you good advice about real estate. They’ll give you advice, all right. But it is unlikely to be as good as the advice you’ll get from a professional.
We’ll offer one more piece of advice: All real estate is local. Very local.
Don’t fall victim to a lying seller
That means that while it may be a buyers market nationwide, or even in your city, it could easily be a sellers market in your first-choice neighborhood. Do your homework.
Look at houses for sale in your desired neighborhood
If you’re thinking of buying a home, we suggest you dig into the articles in in the homebuyer’s section of MSN Real Estate. That should save you from a few misconceptions and a lot of wasted time.
**Thank you to Teresa at MSN Real Estate for this important insight on knowing your local real estate market and consulting a real estate professional. If you have questions about a particular property or a particular area please call The Hansen Ohana directly at (808)879-3667**
Monday, July 25, 2011
First Hawaiian Bank Deposits Hit Record High ~ CEO Notes Improving Hawaii Economy
First Hawaiian deposits hit record high
By Dave Segal
Article from: Star-Advertiser
First Hawaiian Bank, the state’s largest bank in terms of assets, posted flat second-quarter earnings compared with a year ago but saw deposits jump 11.6 percent to a record $11.7 billion.
The bank, which released its earnings today, said net income slipped 0.4 percent to $54.5 million from $54.7 million in the year-earlier quarter. Deposits, though, increased from $10.8 billion in the first quarter and $10.5 billion in the second quarter of 2010.
“The deposit growth is reflective of both an increase in market share and also a wait-and-see attitude by our customers,” First Hawaiian Chairman and CEO Don Horner said. “The economy is improving, but our businesses are choosing to pay down debt and build cash reserves.”
Still, Horner said that despite weakness in the construction sector and sluggishness in employer hiring, the tourism and retail sectors are “producing positive trends which reflect improvement in consumer confidence.”
Last week, First Hawaiian, the state’s largest local credit and debit card processor of merchant services, said card sales at businesses open at least a year rose 8 percent over the same period a year ago and followed first-quarter growth of 10.7 percent.
“First Hawaiian remains committed and well positioned to supporting our customers, especially during these challenged economic times.”
The bank said total assets rose 0.3 percent to $14.8 billion last quarter from $14.7 billion a year ago but fell from $15.2 billion at the end of the first quarter. Loans and leases increased 2.2 percent to $8.2 billion from $8.1 billion a year ago but remained even with the first quarter of this year.
Nonperforming assets remained one of the strongest in the U.S. at 0.2 percent of total assets, the same level as a year ago.
“The bank’s strong credit quality has been consistent through the economic cycle,” Horner said. “In many ways the bank is old-fashioned because we look to our customers’ strength and character rather than the strength of their credit score. That credit philosophy has served us well.”
Horner said a challenge for the bank going forward is the lack of growth in its loan portfolio because of a decrease in demand.
“Given our strong deposit growth, the bank has substantial liquidity to lend,” he said.
First Hawaiian, a wholly owned subsidiary of French banking giant BNP Paribas, is not required to separately report its earnings, but does so voluntarily each quarter.
The Honolulu-based bank, founded in 1858, has 58 branches in Hawaii, three on Guam and two on Saipan.
By Dave Segal
Article from: Star-Advertiser
First Hawaiian Bank, the state’s largest bank in terms of assets, posted flat second-quarter earnings compared with a year ago but saw deposits jump 11.6 percent to a record $11.7 billion.
The bank, which released its earnings today, said net income slipped 0.4 percent to $54.5 million from $54.7 million in the year-earlier quarter. Deposits, though, increased from $10.8 billion in the first quarter and $10.5 billion in the second quarter of 2010.
“The deposit growth is reflective of both an increase in market share and also a wait-and-see attitude by our customers,” First Hawaiian Chairman and CEO Don Horner said. “The economy is improving, but our businesses are choosing to pay down debt and build cash reserves.”
Still, Horner said that despite weakness in the construction sector and sluggishness in employer hiring, the tourism and retail sectors are “producing positive trends which reflect improvement in consumer confidence.”
Last week, First Hawaiian, the state’s largest local credit and debit card processor of merchant services, said card sales at businesses open at least a year rose 8 percent over the same period a year ago and followed first-quarter growth of 10.7 percent.
“First Hawaiian remains committed and well positioned to supporting our customers, especially during these challenged economic times.”
The bank said total assets rose 0.3 percent to $14.8 billion last quarter from $14.7 billion a year ago but fell from $15.2 billion at the end of the first quarter. Loans and leases increased 2.2 percent to $8.2 billion from $8.1 billion a year ago but remained even with the first quarter of this year.
Nonperforming assets remained one of the strongest in the U.S. at 0.2 percent of total assets, the same level as a year ago.
“The bank’s strong credit quality has been consistent through the economic cycle,” Horner said. “In many ways the bank is old-fashioned because we look to our customers’ strength and character rather than the strength of their credit score. That credit philosophy has served us well.”
Horner said a challenge for the bank going forward is the lack of growth in its loan portfolio because of a decrease in demand.
“Given our strong deposit growth, the bank has substantial liquidity to lend,” he said.
First Hawaiian, a wholly owned subsidiary of French banking giant BNP Paribas, is not required to separately report its earnings, but does so voluntarily each quarter.
The Honolulu-based bank, founded in 1858, has 58 branches in Hawaii, three on Guam and two on Saipan.
Friday, July 22, 2011
First Hawaiian Bank Deposits Hit Record High ~ CEO Notes Improving Hawaii Economy
First Hawaiian deposits hit record high
By Dave Segal
Article from: Star-Advertiser
First Hawaiian Bank, the state’s largest bank in terms of assets, posted flat second-quarter earnings compared with a year ago but saw deposits jump 11.6 percent to a record $11.7 billion.
The bank, which released its earnings today, said net income slipped 0.4 percent to $54.5 million from $54.7 million in the year-earlier quarter. Deposits, though, increased from $10.8 billion in the first quarter and $10.5 billion in the second quarter of 2010.
“The deposit growth is reflective of both an increase in market share and also a wait-and-see attitude by our customers,” First Hawaiian Chairman and CEO Don Horner said. “The economy is improving, but our businesses are choosing to pay down debt and build cash reserves.”
Still, Horner said that despite weakness in the construction sector and sluggishness in employer hiring, the tourism and retail sectors are “producing positive trends which reflect improvement in consumer confidence.”
Last week, First Hawaiian, the state’s largest local credit and debit card processor of merchant services, said card sales at businesses open at least a year rose 8 percent over the same period a year ago and followed first-quarter growth of 10.7 percent.
“First Hawaiian remains committed and well positioned to supporting our customers, especially during these challenged economic times.”
The bank said total assets rose 0.3 percent to $14.8 billion last quarter from $14.7 billion a year ago but fell from $15.2 billion at the end of the first quarter. Loans and leases increased 2.2 percent to $8.2 billion from $8.1 billion a year ago but remained even with the first quarter of this year.
Nonperforming assets remained one of the strongest in the U.S. at 0.2 percent of total assets, the same level as a year ago.
“The bank’s strong credit quality has been consistent through the economic cycle,” Horner said. “In many ways the bank is old-fashioned because we look to our customers’ strength and character rather than the strength of their credit score. That credit philosophy has served us well.”
Horner said a challenge for the bank going forward is the lack of growth in its loan portfolio because of a decrease in demand.
“Given our strong deposit growth, the bank has substantial liquidity to lend,” he said.
First Hawaiian, a wholly owned subsidiary of French banking giant BNP Paribas, is not required to separately report its earnings, but does so voluntarily each quarter.
The Honolulu-based bank, founded in 1858, has 58 branches in Hawaii, three on Guam and two on Saipan.
By Dave Segal
Article from: Star-Advertiser
First Hawaiian Bank, the state’s largest bank in terms of assets, posted flat second-quarter earnings compared with a year ago but saw deposits jump 11.6 percent to a record $11.7 billion.
The bank, which released its earnings today, said net income slipped 0.4 percent to $54.5 million from $54.7 million in the year-earlier quarter. Deposits, though, increased from $10.8 billion in the first quarter and $10.5 billion in the second quarter of 2010.
“The deposit growth is reflective of both an increase in market share and also a wait-and-see attitude by our customers,” First Hawaiian Chairman and CEO Don Horner said. “The economy is improving, but our businesses are choosing to pay down debt and build cash reserves.”
Still, Horner said that despite weakness in the construction sector and sluggishness in employer hiring, the tourism and retail sectors are “producing positive trends which reflect improvement in consumer confidence.”
Last week, First Hawaiian, the state’s largest local credit and debit card processor of merchant services, said card sales at businesses open at least a year rose 8 percent over the same period a year ago and followed first-quarter growth of 10.7 percent.
“First Hawaiian remains committed and well positioned to supporting our customers, especially during these challenged economic times.”
The bank said total assets rose 0.3 percent to $14.8 billion last quarter from $14.7 billion a year ago but fell from $15.2 billion at the end of the first quarter. Loans and leases increased 2.2 percent to $8.2 billion from $8.1 billion a year ago but remained even with the first quarter of this year.
Nonperforming assets remained one of the strongest in the U.S. at 0.2 percent of total assets, the same level as a year ago.
“The bank’s strong credit quality has been consistent through the economic cycle,” Horner said. “In many ways the bank is old-fashioned because we look to our customers’ strength and character rather than the strength of their credit score. That credit philosophy has served us well.”
Horner said a challenge for the bank going forward is the lack of growth in its loan portfolio because of a decrease in demand.
“Given our strong deposit growth, the bank has substantial liquidity to lend,” he said.
First Hawaiian, a wholly owned subsidiary of French banking giant BNP Paribas, is not required to separately report its earnings, but does so voluntarily each quarter.
The Honolulu-based bank, founded in 1858, has 58 branches in Hawaii, three on Guam and two on Saipan.
Wednesday, July 20, 2011
Interesting Developments For Company Looking To Buy Hawaii’s Main Electric Utility And Move It Away From Fossil Fuel
Heavy hitters join board to gird for HEI bid
Ex-officials of the CIA and federal Energy Department ante up as the $35 billion plan gains momentum
By Andrew Gomes
Article from: Star-Advertiser
A $35 billion plan to buy Hawaii’s main electric utility and quickly get it off fossil fuel while reducing rates for consumers was greeted with heavy skepticism in January when the ambitious endeavor was made public.
Some dismissed the initiative by an entrepreneurial Minnesotan who moved to Hawaii last year as unrealistic or, worse, a joke. Others lauded the idea but figured it was financially impossible and wouldn’t gain traction.
But since then the venture named Ku‘oko‘a Inc. has attracted several leaders with powerful connections, including a past chief of the Central Intelligency Agency and a former deputy secretary of the federal Department of Energy.
T.J. Glauthier, the Energy Department’s No. 2 official from 1999 to 2001, and R. James Woolsey, CIA director from 1993 to 1995, have joined Ku‘oko‘a as investors and board members.
Rob Robinson, a Hawaii venture capitalist and professor of entrepreneurship and e-business at the University of Hawaii, is another investor taking a seat on the board recently.
And Rick Blangiardi, general manager of local TV broadcaster Hawaii News Now, agreed to serve as Ku‘oko‘a’s board vice chairman.
In all, Ku‘oko‘a has eight board members, and the addition of one or two more is being considered.
The company’s goal is to buy Hawaiian Electric Industries Inc., which provides power to about 95 percent of the state’s population, and shift it completely from its current dependence on imported oil to alternative energy sources within 10 years.
Of the eight board members, seven aren’t involved in running Ku‘oko‘a as employees or executive officers. But they all have invested money in the startup, giving them a financial stake in realizing the plan, according to Alan Tang, Ku‘oko‘a’s chief strategy officer and the owner of local marketing firm Olomana Marketing.
“They are committed to the vision,” Tang said.
Individual investments weren’t disclosed, but Tang said the total amount is roughly a “few hundred thousand dollars.” Some local business leaders said Ku‘oko‘a’s founder sought $20,000 investments with offers for a seat on the board.
Investments tied to board positions are common for startup companies trying to raise seed capital, according to corporate governance experts. Such board members differ from independent directors, who typically provide guidance to well-established companies and are paid for attending meetings.
Glauthier, who is involved in the private-sector energy industry and was on the 2008 transition team helping Barack Obama assume the presidency, said he examined Ku‘oko‘a closely.
“I looked at it hard before agreeing to sign on,” he said. ”I believe it’s feasible.”
Woolsey, whose introduction to Ku‘oko‘a was made by Glauthier, said he has high regard for Glauthier’s judgment of people and technology. Woolsey is also a founding member of an organization dedicated to freeing the United States from its dependence on oil for fuel, and views Hawaii as an opportunity to demonstrate that independence from oil can be achieved.
“It’s a very interesting opportunity,” Woolsey said of Ku‘oko‘a, which is the Hawaiian word for freedom or independence. “It seems to me it’s really worth a try.”
Ku‘oko‘a’s vision is to tap a variety of renewable energy sources to replace oil as Hawaii’s main source for electricity. The backbone of the plan is to derive most electricity from geothermal energy on Hawaii island and Maui for delivery to Oahu and other islands via undersea cables.
Geothermal power is proven and has the benefit of not being an intermittent source of energy like the sun and wind. An existing geothermal plant on Hawaii island, Puna Geothermal Venture, supplies about 20 percent of that island’s electricity needs.
Other power sources such as wind, solar, biofuel, wave and ocean thermal energy would likely also play roles, though geothermal would supply the base load and is the linchpin to Ku‘oko‘a’s plan, according to Roald Marth, a self-described nerd from Minnesota who started Ku‘oko‘a and is the company’s chief executive officer.
Marth told a Rotary Club of Honolulu meeting in April that geothermal energy might even be able to oversupply the state with power, allowing extra power to be exported if converted to another form such as liquid hydrogen.
The exports and fixed energy costs, according to Marth, would not only insulate ratepayers from higher oil prices and electricity rates, but also would cut the cost of electricity to 20 cents per kilowatt-hour statewide. Presently the rate is about 30 cents on Oahu and around 40 cents on neighbor islands.
Marth also told the Rotary Club group that a state plan to reduce Hawaii’s dependence on oil, the Clean Energy Initiative, will result in too little alternative energy too late.
The initiative, launched in 2008 with support from the U.S. Department of Energy, has a goal to reduce statewide energy consumption by 30 percent through efficiency and shift 40 percent of production to renewable sources by 2030. Renewable energy production under the initiative is largely based on planned but controversial wind farms on Maui and Lanai.
Even if the state’s goal is achieved, Hawaii could still be 60 percent reliant on oil that could cost $300 or $400 a barrel — enough to drive the price of a kilowatt-hour of electricity to 80 cents, Marth told the group.
“The Hawaii Clean Energy Initiative does not go far enough and does not go fast enough,” he said. “The cost of electricity and the cost of fuel is killing the economy of Hawaii — and it can be fixed.”
Of course, Ku‘oko‘a’s plan is far from being realized, and faces monumental obstacles.
The company is still in a formation stage, has no physical office and has not made a formal bid to buy Hawaiian Electric.
Hawaiian Electric saidin January that it would not acknowledge or comment on any purchase offer it might receive, and the company reiterated that position last week.
Buying Hawaiian Electric — with its subsidiaries on Oahu, Maui and Hawaii island — would be at least a $2.3 billion proposition based on the company’s market value.
Marth has estimated total costs of buying the utility plus shifting it to 100 percent renewable energy production and delivery could be roughly $35 billion over 10 years.
To date, Marth has raised some seed money from investors but has largely funded Ku‘oko‘a himself. He said he has personally contributed $1.2 million. Most of that, according to Tang, is to pay salaries for eight executives and a similar number of employees.
Marth claims to have 26 investment bankers interested in financing the $35 billion plan. “I’m fighting off the money right now,” he said at the Rotary Club meeting.
Some observers question whether it’s feasible to run a cable along the extremely rough and deep Alenuihaha Channel between Hawaii island and Maui.
Marth says it can be done, though not easily or cheaply. According to Puna Geothermal, the state investigated the feasibility of an Alenuihaha Channel cable in the 1980s and concluded it was possible but too costly without considerable government subsidies. The state estimates it will cost $800 million to $1 billion to install a cable linking Oahu to wind farms on Molokai and Lanai.
Marth has said a company like Hawaiian Electric with public shareholders interested in growing quarterly profits faces a disincentive to invest billions of dollars in renewable energy production.
A company like Ku‘oko‘a with private capital focused on long-term returns from renewable energy investments is necessary to make the conversion, he said.
One big concern for local consumers and businesses is whether such a return could be achieved without coming at the expense of ratepayers. Some stock analysts and energy industry experts have expressed doubt about Ku‘oko‘a’s plan penciling out.
Another uncertainty is whether the state Public Utilities Commission, which regulates utilities, would approve a purchase of Hawaiian Electric.
Beside the technical and financial issues, much skepticism raised in January focused on the people leading Ku‘oko‘a.
Marth, 46, is a former real estate agent and motivational speaker who later co-founded and sold two companies — one that provided technology and software training for the real estate industry and one that provided Internet services to real estate agents.
Two initial partners also helped Marth start Ku‘oko‘a. One is Richard Ha, owner of Hamakua Springs Country Farms on Hawaii island. Ha, who is Ku‘oko‘a’s board chairman, has researched alternative energy as a source for his business and is co-chairman of a state advisory group on geothermal energy.
Ku‘oko‘a’s other initial partner is Ted Peck, who quit his job as the state’s energy administrator to become company president. Peck, among other things, directed Hawaii’s Clean Energy Initiative.
Marth has said Ku‘oko‘a has been belittled as a plan by a motivational speaker, a tomato farmer and a bureaucrat. He told the Rotary Club audience that the founding partners have a lot of talent and drive that is now being combined with board members and others on Ku‘oko‘a’s team to move the initiative forward.
“We’re not just the tomato farmer and the bureaucrat and the motivational speaker trying to buy an electric utility,” Marth said. “That’s not what we’re about. We’re a bunch of really, really smart, determined people with a little bit of money who are trying to build a new industry in Hawaii.”
Ex-officials of the CIA and federal Energy Department ante up as the $35 billion plan gains momentum
By Andrew Gomes
Article from: Star-Advertiser
A $35 billion plan to buy Hawaii’s main electric utility and quickly get it off fossil fuel while reducing rates for consumers was greeted with heavy skepticism in January when the ambitious endeavor was made public.
Some dismissed the initiative by an entrepreneurial Minnesotan who moved to Hawaii last year as unrealistic or, worse, a joke. Others lauded the idea but figured it was financially impossible and wouldn’t gain traction.
But since then the venture named Ku‘oko‘a Inc. has attracted several leaders with powerful connections, including a past chief of the Central Intelligency Agency and a former deputy secretary of the federal Department of Energy.
T.J. Glauthier, the Energy Department’s No. 2 official from 1999 to 2001, and R. James Woolsey, CIA director from 1993 to 1995, have joined Ku‘oko‘a as investors and board members.
Rob Robinson, a Hawaii venture capitalist and professor of entrepreneurship and e-business at the University of Hawaii, is another investor taking a seat on the board recently.
And Rick Blangiardi, general manager of local TV broadcaster Hawaii News Now, agreed to serve as Ku‘oko‘a’s board vice chairman.
In all, Ku‘oko‘a has eight board members, and the addition of one or two more is being considered.
The company’s goal is to buy Hawaiian Electric Industries Inc., which provides power to about 95 percent of the state’s population, and shift it completely from its current dependence on imported oil to alternative energy sources within 10 years.
Of the eight board members, seven aren’t involved in running Ku‘oko‘a as employees or executive officers. But they all have invested money in the startup, giving them a financial stake in realizing the plan, according to Alan Tang, Ku‘oko‘a’s chief strategy officer and the owner of local marketing firm Olomana Marketing.
“They are committed to the vision,” Tang said.
Individual investments weren’t disclosed, but Tang said the total amount is roughly a “few hundred thousand dollars.” Some local business leaders said Ku‘oko‘a’s founder sought $20,000 investments with offers for a seat on the board.
Investments tied to board positions are common for startup companies trying to raise seed capital, according to corporate governance experts. Such board members differ from independent directors, who typically provide guidance to well-established companies and are paid for attending meetings.
Glauthier, who is involved in the private-sector energy industry and was on the 2008 transition team helping Barack Obama assume the presidency, said he examined Ku‘oko‘a closely.
“I looked at it hard before agreeing to sign on,” he said. ”I believe it’s feasible.”
Woolsey, whose introduction to Ku‘oko‘a was made by Glauthier, said he has high regard for Glauthier’s judgment of people and technology. Woolsey is also a founding member of an organization dedicated to freeing the United States from its dependence on oil for fuel, and views Hawaii as an opportunity to demonstrate that independence from oil can be achieved.
“It’s a very interesting opportunity,” Woolsey said of Ku‘oko‘a, which is the Hawaiian word for freedom or independence. “It seems to me it’s really worth a try.”
Ku‘oko‘a’s vision is to tap a variety of renewable energy sources to replace oil as Hawaii’s main source for electricity. The backbone of the plan is to derive most electricity from geothermal energy on Hawaii island and Maui for delivery to Oahu and other islands via undersea cables.
Geothermal power is proven and has the benefit of not being an intermittent source of energy like the sun and wind. An existing geothermal plant on Hawaii island, Puna Geothermal Venture, supplies about 20 percent of that island’s electricity needs.
Other power sources such as wind, solar, biofuel, wave and ocean thermal energy would likely also play roles, though geothermal would supply the base load and is the linchpin to Ku‘oko‘a’s plan, according to Roald Marth, a self-described nerd from Minnesota who started Ku‘oko‘a and is the company’s chief executive officer.
Marth told a Rotary Club of Honolulu meeting in April that geothermal energy might even be able to oversupply the state with power, allowing extra power to be exported if converted to another form such as liquid hydrogen.
The exports and fixed energy costs, according to Marth, would not only insulate ratepayers from higher oil prices and electricity rates, but also would cut the cost of electricity to 20 cents per kilowatt-hour statewide. Presently the rate is about 30 cents on Oahu and around 40 cents on neighbor islands.
Marth also told the Rotary Club group that a state plan to reduce Hawaii’s dependence on oil, the Clean Energy Initiative, will result in too little alternative energy too late.
The initiative, launched in 2008 with support from the U.S. Department of Energy, has a goal to reduce statewide energy consumption by 30 percent through efficiency and shift 40 percent of production to renewable sources by 2030. Renewable energy production under the initiative is largely based on planned but controversial wind farms on Maui and Lanai.
Even if the state’s goal is achieved, Hawaii could still be 60 percent reliant on oil that could cost $300 or $400 a barrel — enough to drive the price of a kilowatt-hour of electricity to 80 cents, Marth told the group.
“The Hawaii Clean Energy Initiative does not go far enough and does not go fast enough,” he said. “The cost of electricity and the cost of fuel is killing the economy of Hawaii — and it can be fixed.”
Of course, Ku‘oko‘a’s plan is far from being realized, and faces monumental obstacles.
The company is still in a formation stage, has no physical office and has not made a formal bid to buy Hawaiian Electric.
Hawaiian Electric saidin January that it would not acknowledge or comment on any purchase offer it might receive, and the company reiterated that position last week.
Buying Hawaiian Electric — with its subsidiaries on Oahu, Maui and Hawaii island — would be at least a $2.3 billion proposition based on the company’s market value.
Marth has estimated total costs of buying the utility plus shifting it to 100 percent renewable energy production and delivery could be roughly $35 billion over 10 years.
To date, Marth has raised some seed money from investors but has largely funded Ku‘oko‘a himself. He said he has personally contributed $1.2 million. Most of that, according to Tang, is to pay salaries for eight executives and a similar number of employees.
Marth claims to have 26 investment bankers interested in financing the $35 billion plan. “I’m fighting off the money right now,” he said at the Rotary Club meeting.
Some observers question whether it’s feasible to run a cable along the extremely rough and deep Alenuihaha Channel between Hawaii island and Maui.
Marth says it can be done, though not easily or cheaply. According to Puna Geothermal, the state investigated the feasibility of an Alenuihaha Channel cable in the 1980s and concluded it was possible but too costly without considerable government subsidies. The state estimates it will cost $800 million to $1 billion to install a cable linking Oahu to wind farms on Molokai and Lanai.
Marth has said a company like Hawaiian Electric with public shareholders interested in growing quarterly profits faces a disincentive to invest billions of dollars in renewable energy production.
A company like Ku‘oko‘a with private capital focused on long-term returns from renewable energy investments is necessary to make the conversion, he said.
One big concern for local consumers and businesses is whether such a return could be achieved without coming at the expense of ratepayers. Some stock analysts and energy industry experts have expressed doubt about Ku‘oko‘a’s plan penciling out.
Another uncertainty is whether the state Public Utilities Commission, which regulates utilities, would approve a purchase of Hawaiian Electric.
Beside the technical and financial issues, much skepticism raised in January focused on the people leading Ku‘oko‘a.
Marth, 46, is a former real estate agent and motivational speaker who later co-founded and sold two companies — one that provided technology and software training for the real estate industry and one that provided Internet services to real estate agents.
Two initial partners also helped Marth start Ku‘oko‘a. One is Richard Ha, owner of Hamakua Springs Country Farms on Hawaii island. Ha, who is Ku‘oko‘a’s board chairman, has researched alternative energy as a source for his business and is co-chairman of a state advisory group on geothermal energy.
Ku‘oko‘a’s other initial partner is Ted Peck, who quit his job as the state’s energy administrator to become company president. Peck, among other things, directed Hawaii’s Clean Energy Initiative.
Marth has said Ku‘oko‘a has been belittled as a plan by a motivational speaker, a tomato farmer and a bureaucrat. He told the Rotary Club audience that the founding partners have a lot of talent and drive that is now being combined with board members and others on Ku‘oko‘a’s team to move the initiative forward.
“We’re not just the tomato farmer and the bureaucrat and the motivational speaker trying to buy an electric utility,” Marth said. “That’s not what we’re about. We’re a bunch of really, really smart, determined people with a little bit of money who are trying to build a new industry in Hawaii.”
Friday, July 15, 2011
Retail And Tourism Sectors Continue To Lead Hawaii’s Economic And Employment Recovery
Jobless recovery persists in Hawaii
Retail and tourism sectors rise but the construction industry “has yet to turn the corner”
By Dave Segal
Article from: Star-Advertiser
Credit card sales at businesses open at least a year rose 8 percent over the same period a year ago, according to a second-quarter business activity report released today by First Hawaiian Bank.
First Hawaiian Bank reports that Hawaii hotels had the second-largest increase in year-over-year transaction volume at 15.1 percent and accounted for the highest transaction volume at $149.9 million.
Consumers pulled out their credit and debit cards more liberally last quarter and increased spending at Hawaii hotels and restaurants as the tourism-led recovery continued to gain traction.
Credit card sales at businesses open at least a year rose 8 percent over the same period a year ago, according to a second-quarter business activity report released today by First Hawaiian Bank, the state’s largest local card processor of merchant services. The increase follows first-quarter growth of 10.7 percent over the year-earlier period.
While the report showed year-over-year gains in 14 of the 16 sectors it tracks, it doesn’t include the lagging construction sector since credit and debit cards aren’t typically used in that industry.
“We continue to be encouraged by the positive trends in both our tourism and retail sectors,” First Hawaiian President Bob Harrison said. “However, our recovery continues to be fragile and is unfortunately, to date, a jobless recovery. This is, in part, due to the continued weakness of our construction segment.”
Convenience stores showed the largest percentage increase in transaction volume with a 19.4 percent gain to $14.9 million. Hotels had the second-largest increase at 15.1 percent and accounted for the highest transaction volume at $149.9 million.
First Hawaiian CEO Don Horner said the growth in the hotel sector for the quarter reflects the strength of the tourism industry, which has continued to gain market share.
“The numbers include not only an increase in the visitor count but also an increase in the average room rate,” he said. “Our hotels were able to not only improve volume but also improve margin, which translates into an important increase in the transient accommodations tax, which helps fund our public sector.”
Visitor arrivals through May were up 6.7 percent to 2.8 million and visitor spending was ahead 15.3 percent at $4.3 billion. Statewide hotel occupancy for the same period was up 4.7 percentage points to 73.2 percent while the average daily room rate grew 9.0 percent to $188.21.
Restaurants had the second-highest transaction volume at $98 million even though it was up just 8.2 percent from a year earlier.
Home furnishings, which slipped 0.8 percent in transaction volume to $22.7 million, and travel agencies, off 25.6 percent to $25.1 million, were the only sectors that had deceased spending from the year-earlier period.
“The decrease in home furnishings is a reflection of the slower real estate market while travel, which includes outbound, is down because more people are staying home,” Horner said.
Construction, though, continues to be a major drag on Hawaii’s recovery.
In the first quarter, residential building permits plunged 37.7 percent, construction permits declined 16.4 percent, commercial and industrial permits were down 9.5 percent and government contracts were off 9.2 percent, according to the most recent data from the state Department of Business, Economic Development & Tourism.
And construction jobs are also lagging despite the state unemployment rate in May falling to 6 percent, matching its lowest level since January 2009, according to the state Department of Labor and Industrial Relations.
Through the first five months of this year, not-seasonally-adjusted construction jobs were down 2.3 percent to 140,800 from 144,100 during the same period a year ago, according to the Labor Department.
“Construction has yet to turn the corner in the recovery from the recession,” First Hawaiian economic adviser Leroy Laney said. “That’s the lagging sector of the economy.”
First Hawaiian, the largest bank in the state with $15.2 billion in assets at the end of the first quarter, processed more than $1.8 billion worth of credit and debit card sales transactions during the first half of this year, a 10.9 percent increase over the same period a year ago.
The bank has more than 7,500 merchant locations throughout Hawaii, Guam and the Commonwealth of the Northern Mariana Islands.
shareshare
Retail and tourism sectors rise but the construction industry “has yet to turn the corner”
By Dave Segal
Article from: Star-Advertiser
Credit card sales at businesses open at least a year rose 8 percent over the same period a year ago, according to a second-quarter business activity report released today by First Hawaiian Bank.
First Hawaiian Bank reports that Hawaii hotels had the second-largest increase in year-over-year transaction volume at 15.1 percent and accounted for the highest transaction volume at $149.9 million.
Consumers pulled out their credit and debit cards more liberally last quarter and increased spending at Hawaii hotels and restaurants as the tourism-led recovery continued to gain traction.
Credit card sales at businesses open at least a year rose 8 percent over the same period a year ago, according to a second-quarter business activity report released today by First Hawaiian Bank, the state’s largest local card processor of merchant services. The increase follows first-quarter growth of 10.7 percent over the year-earlier period.
While the report showed year-over-year gains in 14 of the 16 sectors it tracks, it doesn’t include the lagging construction sector since credit and debit cards aren’t typically used in that industry.
“We continue to be encouraged by the positive trends in both our tourism and retail sectors,” First Hawaiian President Bob Harrison said. “However, our recovery continues to be fragile and is unfortunately, to date, a jobless recovery. This is, in part, due to the continued weakness of our construction segment.”
Convenience stores showed the largest percentage increase in transaction volume with a 19.4 percent gain to $14.9 million. Hotels had the second-largest increase at 15.1 percent and accounted for the highest transaction volume at $149.9 million.
First Hawaiian CEO Don Horner said the growth in the hotel sector for the quarter reflects the strength of the tourism industry, which has continued to gain market share.
“The numbers include not only an increase in the visitor count but also an increase in the average room rate,” he said. “Our hotels were able to not only improve volume but also improve margin, which translates into an important increase in the transient accommodations tax, which helps fund our public sector.”
Visitor arrivals through May were up 6.7 percent to 2.8 million and visitor spending was ahead 15.3 percent at $4.3 billion. Statewide hotel occupancy for the same period was up 4.7 percentage points to 73.2 percent while the average daily room rate grew 9.0 percent to $188.21.
Restaurants had the second-highest transaction volume at $98 million even though it was up just 8.2 percent from a year earlier.
Home furnishings, which slipped 0.8 percent in transaction volume to $22.7 million, and travel agencies, off 25.6 percent to $25.1 million, were the only sectors that had deceased spending from the year-earlier period.
“The decrease in home furnishings is a reflection of the slower real estate market while travel, which includes outbound, is down because more people are staying home,” Horner said.
Construction, though, continues to be a major drag on Hawaii’s recovery.
In the first quarter, residential building permits plunged 37.7 percent, construction permits declined 16.4 percent, commercial and industrial permits were down 9.5 percent and government contracts were off 9.2 percent, according to the most recent data from the state Department of Business, Economic Development & Tourism.
And construction jobs are also lagging despite the state unemployment rate in May falling to 6 percent, matching its lowest level since January 2009, according to the state Department of Labor and Industrial Relations.
Through the first five months of this year, not-seasonally-adjusted construction jobs were down 2.3 percent to 140,800 from 144,100 during the same period a year ago, according to the Labor Department.
“Construction has yet to turn the corner in the recovery from the recession,” First Hawaiian economic adviser Leroy Laney said. “That’s the lagging sector of the economy.”
First Hawaiian, the largest bank in the state with $15.2 billion in assets at the end of the first quarter, processed more than $1.8 billion worth of credit and debit card sales transactions during the first half of this year, a 10.9 percent increase over the same period a year ago.
The bank has more than 7,500 merchant locations throughout Hawaii, Guam and the Commonwealth of the Northern Mariana Islands.
shareshare
Thursday, July 14, 2011
Hawaiian Airlines Expands Flights On Asian Routes and More Expansion Expected
For Hawaiian Air, Osaka is just the start
After unveiling the carrier’s new route, an executive hints at further expansion
By Dave Segal
Article from: Star-Advertiser
Hawaiian Airlines launched its third Asian route in eight months Tuesday and said it plans to announce service to more new markets before the end of the year.
The state’s largest carrier, which has been aggressively expanding as other domestic and international airlines have been scaling back, kicked off its inaugural flight to Osaka, Japan, with music, dancing, a Hawaiian blessing and the traditional maile lei. The new service comes on the heels of Hawaiian’s inaugural flights to Tokyo’s Haneda International Airport in November and South Korea’s Incheon International Airport in January.
And there’s more expansion to come.
Hawaiian Chief Financial Officer Peter Ingram, who said bookings from Japan have been “very, very strong” despite the March 11 earthquake and tsunami, said the airline will make more route announcements next quarter.
“We’ve got some ideas about other places in Asia. We’ve got some ideas about other places in North America,” Ingram said. “And we have some aircraft availability coming up next year.”
Ingram said Hawaiian will take delivery of four Airbus A330-200s next year that will give the company the opportunity to look at some new markets.
Hawaiian, which said on March 31 it was maintaining daily Tokyo flights and moving forward with its Osaka service even though other carriers cut service due to the disasters, has been rewarded for its commitment to Japan.
“We’ve seen a real strong recovery (in Japan) as we’ve gone into the summer,” Ingram said. “Bookings for June and July are very, very strong, and we’re confident about a continuation of strong bookings going forward.”
Until Tuesday only Delta Air Lines and Japan Airlines offered daily flights from Osaka, which is Japan’s third-largest city with 2.62 million residents. The Osaka region — which includes Kyoto and Kobe — has more than 18 million residents.
The Hawaii Tourism Authority said last month it expects Japanese arrivals to increase by 3.3 percent this year to nearly 1.3 million visitors and spending to rise by 8.2 percent to $2.1 billion.
HTA CEO Mike McCartney, who flew on the Osaka flight Tuesday, said the new service will result in up to $120 million in visitor spending per year and $18 million in state tax revenue based on 86 percent capacity on the flights. For all three of Hawaiian’s new Asia flights, McCartney said the annual payoff will be up to $350 million in visitor spending and $38 million in tax revenue.
“Osaka is like a new region for us, and I think they’re hungry for Hawaii and want to experience Hawaii,” he said. “So it’s a good opportunity for the travel industry in Osaka and for us.”
Hawaiian’s flight to Osaka will depart Honolulu daily at 2:20 p.m. and arrive at Kansai International Airport at 6 p.m. the next day. The return flight will leave Osaka at 9:30 p.m. and arrive in Honolulu at 10:50 a.m. the same day. The flights will take between eight and nine hours. Japan is 19 hours ahead of Hawaii.
Akio Hoshino, president of JTB Hawaii Travel LLC, said Hawaiian’s new Osaka route is a welcome development for the tour operator after Japan Airlines decreased its seat capacity.
“It’s a very good opportunity for Hawaiian and Japan to have this new route,” Hoshino said. “We cannot survive without having air seats, so this is a great opportunity for the tourism industry in Japan.”
Leon Yoshida, president and CEO of travel agency Tellmeclub Hawaii, also welcomed the new route.
“Any time we’re looking at additional flights, it’s good for all of us, not just the tour companies,” he said.
Passengers Christine and Fritz Harris-Glade, former Hawaii residents who now live on Whidbey Island, north of Seattle, were excited Tuesday to be making their first trip to Japan after winning an online sweepstakes held by Hawaiian.
“We didn’t believe it when we heard,” Christine said. “I was a little skeptical because I didn’t think we had won, but we’re very excited to go.”
Fritz said he had received an email six weeks ago about the sweepstakes and entered his mileage number.
“I forgot all about it,” he admitted, “and then six weeks later I got a phone call and here we are.”
After unveiling the carrier’s new route, an executive hints at further expansion
By Dave Segal
Article from: Star-Advertiser
Hawaiian Airlines launched its third Asian route in eight months Tuesday and said it plans to announce service to more new markets before the end of the year.
The state’s largest carrier, which has been aggressively expanding as other domestic and international airlines have been scaling back, kicked off its inaugural flight to Osaka, Japan, with music, dancing, a Hawaiian blessing and the traditional maile lei. The new service comes on the heels of Hawaiian’s inaugural flights to Tokyo’s Haneda International Airport in November and South Korea’s Incheon International Airport in January.
And there’s more expansion to come.
Hawaiian Chief Financial Officer Peter Ingram, who said bookings from Japan have been “very, very strong” despite the March 11 earthquake and tsunami, said the airline will make more route announcements next quarter.
“We’ve got some ideas about other places in Asia. We’ve got some ideas about other places in North America,” Ingram said. “And we have some aircraft availability coming up next year.”
Ingram said Hawaiian will take delivery of four Airbus A330-200s next year that will give the company the opportunity to look at some new markets.
Hawaiian, which said on March 31 it was maintaining daily Tokyo flights and moving forward with its Osaka service even though other carriers cut service due to the disasters, has been rewarded for its commitment to Japan.
“We’ve seen a real strong recovery (in Japan) as we’ve gone into the summer,” Ingram said. “Bookings for June and July are very, very strong, and we’re confident about a continuation of strong bookings going forward.”
Until Tuesday only Delta Air Lines and Japan Airlines offered daily flights from Osaka, which is Japan’s third-largest city with 2.62 million residents. The Osaka region — which includes Kyoto and Kobe — has more than 18 million residents.
The Hawaii Tourism Authority said last month it expects Japanese arrivals to increase by 3.3 percent this year to nearly 1.3 million visitors and spending to rise by 8.2 percent to $2.1 billion.
HTA CEO Mike McCartney, who flew on the Osaka flight Tuesday, said the new service will result in up to $120 million in visitor spending per year and $18 million in state tax revenue based on 86 percent capacity on the flights. For all three of Hawaiian’s new Asia flights, McCartney said the annual payoff will be up to $350 million in visitor spending and $38 million in tax revenue.
“Osaka is like a new region for us, and I think they’re hungry for Hawaii and want to experience Hawaii,” he said. “So it’s a good opportunity for the travel industry in Osaka and for us.”
Hawaiian’s flight to Osaka will depart Honolulu daily at 2:20 p.m. and arrive at Kansai International Airport at 6 p.m. the next day. The return flight will leave Osaka at 9:30 p.m. and arrive in Honolulu at 10:50 a.m. the same day. The flights will take between eight and nine hours. Japan is 19 hours ahead of Hawaii.
Akio Hoshino, president of JTB Hawaii Travel LLC, said Hawaiian’s new Osaka route is a welcome development for the tour operator after Japan Airlines decreased its seat capacity.
“It’s a very good opportunity for Hawaiian and Japan to have this new route,” Hoshino said. “We cannot survive without having air seats, so this is a great opportunity for the tourism industry in Japan.”
Leon Yoshida, president and CEO of travel agency Tellmeclub Hawaii, also welcomed the new route.
“Any time we’re looking at additional flights, it’s good for all of us, not just the tour companies,” he said.
Passengers Christine and Fritz Harris-Glade, former Hawaii residents who now live on Whidbey Island, north of Seattle, were excited Tuesday to be making their first trip to Japan after winning an online sweepstakes held by Hawaiian.
“We didn’t believe it when we heard,” Christine said. “I was a little skeptical because I didn’t think we had won, but we’re very excited to go.”
Fritz said he had received an email six weeks ago about the sweepstakes and entered his mileage number.
“I forgot all about it,” he admitted, “and then six weeks later I got a phone call and here we are.”
Friday, July 8, 2011
Maui June 2011 Sales Statistics
Brief Maui Statistics Overview:
June’s Sales Volume – June’s Residential Sales rose to 81 homes sold, while Condo Sales declined to 101 units sold. Land sales came in at 13 lots sold.
June’s Median SALES prices – Home median prices rose to $429,000, while Condo median prices dipped to $295,000. Land median price rose to $299,000.
Days on Market for Residential homes = 141 DOM, Condos = 147 DOM, Land = 145 DOM.
(General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells, it can move this indicator upward, and vice versa. RAM’s Days on Market are calculated from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days of escrow time.) Also – Short Sales transactions can often take 4-6 months to close thereby extending the
marketplace’s average DOM.
“Year to Date Sales” numbers only compare January-June 2011 to January-June 2010. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends.
Year to Date: Comparing January-June 2011 to January-June 2010 – Residential unit sales rose (+4%), average sold price = $732,569 (-4%), median price = $445,000 (-5%) and total dollar volume sold = $324,528,034 (-1%). This reflects the bump up last year due to 2009-2010 Federal Tax Credit programs and 2011 numbers will probably catch up as the year progresses. Condo unit sales decreased (-3%), average sold price = $527,534 (-30%), median price = $325,000 (-24%). Total Condo dollar volume sold = $340,259,146 (-33%).
Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. Land lot sales decreased (-3%), average sold price = $643,744 (+20%), median price = $315,000 (-30%), Total dollar volume = $44,418,351 (+17%).
Also, total sales for immediately past 12 months: Residential = 830, Condo = 1,125, Land = 124.
July 6, 2011 – Active/Pending/Contingent status inventory:
July June May April Mar. Feb. Jan. Dec. Nov. Oct. Sept. Aug. July
Homes 869 917 935 958 964 953 963 974 976 1,001 981 994 1,008
Condos 1,124 1,159 1,203 1,305 1,331 1,379 1,383 1,371 1,347 1,394 1,455 1,503 1,412
Land 515 532 547 554 557 566 569 601 596 601 620 604 601
Current Absorption Rate base on this month’s Active inventory divided by June Sales is:
Residential = 10.7 months, Condo = 11.1 months, Land = 39.6 months.
IN A NUT SHELL…… the good, the bad….. AND THE ROAD AHEAD ……
Strong buyer-showing activity is now evidenced in actual reported sales. Residential and Condo unit sales for March – June show sustained increase over the previous six months. The next few months will reveal if this is just an uptick or a trend that lasts. Inventories have declined 13-20% over the past 12 months. Many short sales and REO (bank owned) properties will need to be absorbed as sales before we can move ahead to a more normal marketplace. Interest Rates are remaining near historic record lows which may help motivate would-be Buyers to go ahead and buy IF they can qualify. Current World and US events will have ripple effects on cost of living, consumer confidence, and eventually our Real Estate Market.
FOR SELLERS: Sellers who don’t really need to sell (just “fishing?”) should stay off the market, and clear the marketplace for those who REALLY have to sell. UNLESS- you are motivated to Upsize, Downsize or Upgrade – While selling now will net less, your next property will cost less. Sharpen your pencil, talk to your CPA and Realtor® to explore the hidden benefits or consequences. Make no assumptions that will sting later. To be successful, Sellers need to beat competing properties with better property condition, REALISTIC pricing, good marketing, and flexible, creative terms (Seller Second Loan, Agreement of Sale, Lease-with-option-to-buy, and Sale-with-lease-back to seller). Days on Market figures show that properties priced right will sell in a reasonable timeframe. “Priced Right” is still the determining factor.
BEST Deals are selling, everything else is getting old.
Pro-Active Sellers are getting their properties appraised, inspected and surveyed in advance to encourage knowledgeable offers from realistic Buyers. This can prevent unanticipated escrow fallout or Buyers whittling your price down during the transaction when previously unknown facts come to light. Unrealistic Sellers continue to be ignored by the market and miss current opportunities that later become woefully apparent. They may even end up in a Short Sale or Foreclosure situation that could have been avoided.
FOR BUYERS: Low interest rates may start to inch up. Buyers should get Pre-Approved so they can shop in confidence (fewer last minute disappointments due to non-funding loans). More “short-sales” and foreclosures are happening in the marketplace, yet they can be less of a bargain than they seem, requiring more hurdles to leap and more time (often 4-6 months) to close, if at all. Be prepared, but BE REALISTIC. Lenders are much more stringent in requirements for loan approval.
First-Time Home Buyers – Many programs are available….. Attend a First-Time Home Buyers workshop, get familiar with the process, get qualified/approved, do your homework to get your own home. Many current owners never thought they would be able to own until they attended a workshop, discovered they could own a home, and are glad they did.
This low point in the market is your rare chance, so check it out carefully.
Disclaimer: Zooming in on the figures of a specific geographic area or property type may lead to different conclusions that the overall view. Maui’s market place is much smaller than Oahu’s, and a few high or low sales have a greater effect on the
statistical numbers without necessarily indicating a big market swing one way or another.
Information provided by the Realtors’ Association of Maui (RAM)
If you have any questions or would like specific information on a region of Maui or a particular complex or property please contact The Hansen Ohana directly to discuss your individual real estate needs and goals. (808)280-2764 or 1-800-291-5535
June’s Sales Volume – June’s Residential Sales rose to 81 homes sold, while Condo Sales declined to 101 units sold. Land sales came in at 13 lots sold.
June’s Median SALES prices – Home median prices rose to $429,000, while Condo median prices dipped to $295,000. Land median price rose to $299,000.
Days on Market for Residential homes = 141 DOM, Condos = 147 DOM, Land = 145 DOM.
(General DOM Note: this is the average DOM for the properties that SOLD. If predominantly OLD inventory sells, it can move this indicator upward, and vice versa. RAM’s Days on Market are calculated from List Date to Closing Date [not contract date]. As such, it includes approximately 60 days of escrow time.) Also – Short Sales transactions can often take 4-6 months to close thereby extending the
marketplace’s average DOM.
“Year to Date Sales” numbers only compare January-June 2011 to January-June 2010. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends.
Year to Date: Comparing January-June 2011 to January-June 2010 – Residential unit sales rose (+4%), average sold price = $732,569 (-4%), median price = $445,000 (-5%) and total dollar volume sold = $324,528,034 (-1%). This reflects the bump up last year due to 2009-2010 Federal Tax Credit programs and 2011 numbers will probably catch up as the year progresses. Condo unit sales decreased (-3%), average sold price = $527,534 (-30%), median price = $325,000 (-24%). Total Condo dollar volume sold = $340,259,146 (-33%).
Land – NOTE: Land Lot sales are such a small sampling that statistics in this property class are not necessarily reliable indicators. Land lot sales decreased (-3%), average sold price = $643,744 (+20%), median price = $315,000 (-30%), Total dollar volume = $44,418,351 (+17%).
Also, total sales for immediately past 12 months: Residential = 830, Condo = 1,125, Land = 124.
July 6, 2011 – Active/Pending/Contingent status inventory:
July June May April Mar. Feb. Jan. Dec. Nov. Oct. Sept. Aug. July
Homes 869 917 935 958 964 953 963 974 976 1,001 981 994 1,008
Condos 1,124 1,159 1,203 1,305 1,331 1,379 1,383 1,371 1,347 1,394 1,455 1,503 1,412
Land 515 532 547 554 557 566 569 601 596 601 620 604 601
Current Absorption Rate base on this month’s Active inventory divided by June Sales is:
Residential = 10.7 months, Condo = 11.1 months, Land = 39.6 months.
IN A NUT SHELL…… the good, the bad….. AND THE ROAD AHEAD ……
Strong buyer-showing activity is now evidenced in actual reported sales. Residential and Condo unit sales for March – June show sustained increase over the previous six months. The next few months will reveal if this is just an uptick or a trend that lasts. Inventories have declined 13-20% over the past 12 months. Many short sales and REO (bank owned) properties will need to be absorbed as sales before we can move ahead to a more normal marketplace. Interest Rates are remaining near historic record lows which may help motivate would-be Buyers to go ahead and buy IF they can qualify. Current World and US events will have ripple effects on cost of living, consumer confidence, and eventually our Real Estate Market.
FOR SELLERS: Sellers who don’t really need to sell (just “fishing?”) should stay off the market, and clear the marketplace for those who REALLY have to sell. UNLESS- you are motivated to Upsize, Downsize or Upgrade – While selling now will net less, your next property will cost less. Sharpen your pencil, talk to your CPA and Realtor® to explore the hidden benefits or consequences. Make no assumptions that will sting later. To be successful, Sellers need to beat competing properties with better property condition, REALISTIC pricing, good marketing, and flexible, creative terms (Seller Second Loan, Agreement of Sale, Lease-with-option-to-buy, and Sale-with-lease-back to seller). Days on Market figures show that properties priced right will sell in a reasonable timeframe. “Priced Right” is still the determining factor.
BEST Deals are selling, everything else is getting old.
Pro-Active Sellers are getting their properties appraised, inspected and surveyed in advance to encourage knowledgeable offers from realistic Buyers. This can prevent unanticipated escrow fallout or Buyers whittling your price down during the transaction when previously unknown facts come to light. Unrealistic Sellers continue to be ignored by the market and miss current opportunities that later become woefully apparent. They may even end up in a Short Sale or Foreclosure situation that could have been avoided.
FOR BUYERS: Low interest rates may start to inch up. Buyers should get Pre-Approved so they can shop in confidence (fewer last minute disappointments due to non-funding loans). More “short-sales” and foreclosures are happening in the marketplace, yet they can be less of a bargain than they seem, requiring more hurdles to leap and more time (often 4-6 months) to close, if at all. Be prepared, but BE REALISTIC. Lenders are much more stringent in requirements for loan approval.
First-Time Home Buyers – Many programs are available….. Attend a First-Time Home Buyers workshop, get familiar with the process, get qualified/approved, do your homework to get your own home. Many current owners never thought they would be able to own until they attended a workshop, discovered they could own a home, and are glad they did.
This low point in the market is your rare chance, so check it out carefully.
Disclaimer: Zooming in on the figures of a specific geographic area or property type may lead to different conclusions that the overall view. Maui’s market place is much smaller than Oahu’s, and a few high or low sales have a greater effect on the
statistical numbers without necessarily indicating a big market swing one way or another.
Information provided by the Realtors’ Association of Maui (RAM)
If you have any questions or would like specific information on a region of Maui or a particular complex or property please contact The Hansen Ohana directly to discuss your individual real estate needs and goals. (808)280-2764 or 1-800-291-5535
Wednesday, July 6, 2011
Hawaiian Airlines Expands Its Interisland Fleet ~ More Positive Tourism and Economic Indicators
Airlines give state tourism a lift
Hawaiian expands its interisland fleet and plans to add 20 flights and hire more workers
By Dave Segal
Article from: Star-Advertiser
Hawaiian Airlines will boost its fleet with the addition of three Boeing 717-200s, which will provide more flights between Honolulu and the neighbor islands.
Hawaiian Airlines, the dominant carrier in the interisland market, will add three Boeing 717-200s to its fleet later this year which will provide about 20 more flights per day between Honolulu and the neighbor islands.
The company said Thursday it expects to hire an additional 40 to 50 pilots, flight attendants and ground staff to support the increased operations.
“With our increasing service to Hawaii from Asia, demand for our interisland flights during peak hours of the day and during popular travel periods has never been higher,” Hawaiian CEO Mark Dunkerley said. “Adding these aircraft will give us the ability to serve more customers during these periods.”
Hawaiian, which carried 83 percent of all interisland passengers last year and provided 81 percent of the seats last month according to state data, said it expects to take delivery of the three leased aircraft in September, October and November. It said the increased service will begin in October. The airline said service will be expanded to Kahului, Lihue, Hilo and Kona during peak travel periods. The 717s seat up to 123 passengers each.
“The increased capacity will help to support the HTA’s goal to promote the Hawaiian Islands and encourage multi-island travel that will boost visitor arrivals and spending on the neighbor islands,” Hawaii Tourism Authority CEO Mike McCartney said.
In addition, Hawaiian said it has purchased its existing fleet of 15 leased 717s from Boeing Capital Corp. in a refinancing transaction that reduces its fleet costs over the long term. The airline also signed multiyear leases with Boeing Capital for the three additional 717s. Terms of the deals were not disclosed.
“Hawaiian’s decision to expand its fleet and move from operator to owner is a further vote for the world’s best 100-seat airliner by an experienced and valued customer,” said Jordan Weltman, Boeing Capital president for the Americas region.
The airline also has in its fleet 17 Boeing 767-300ERS and four Airbus A330-200s. Those planes are used for mainland and international flights. The 767s seat up to 264 passengers, and the A330s can carry 294 passengers.
STRETCHING ITS WINGS
Hawaiian Airlines commands a majority of the interisland market:
INTERISLAND PASSENGERS IN 2010
Hawaiian Airlines 83%
Go! 9%
Island Air 5%
Mokulele 1%
Japan Airlines 1%
Pacific Wings 0%
Trans Air 0%
Big Island Air 0%
Source: State Department of Transportation Airport Division
INTERISLAND SCHEDULED AIRLINE SEATS FOR JUNE:
Hawaiian Airlines 80.9%
Go! 8.5%
Island Air 7.7%
Mokulele 1.5%
Pacific Wings 1.4%
Source: OAG Aviation
Hawaiian expands its interisland fleet and plans to add 20 flights and hire more workers
By Dave Segal
Article from: Star-Advertiser
Hawaiian Airlines will boost its fleet with the addition of three Boeing 717-200s, which will provide more flights between Honolulu and the neighbor islands.
Hawaiian Airlines, the dominant carrier in the interisland market, will add three Boeing 717-200s to its fleet later this year which will provide about 20 more flights per day between Honolulu and the neighbor islands.
The company said Thursday it expects to hire an additional 40 to 50 pilots, flight attendants and ground staff to support the increased operations.
“With our increasing service to Hawaii from Asia, demand for our interisland flights during peak hours of the day and during popular travel periods has never been higher,” Hawaiian CEO Mark Dunkerley said. “Adding these aircraft will give us the ability to serve more customers during these periods.”
Hawaiian, which carried 83 percent of all interisland passengers last year and provided 81 percent of the seats last month according to state data, said it expects to take delivery of the three leased aircraft in September, October and November. It said the increased service will begin in October. The airline said service will be expanded to Kahului, Lihue, Hilo and Kona during peak travel periods. The 717s seat up to 123 passengers each.
“The increased capacity will help to support the HTA’s goal to promote the Hawaiian Islands and encourage multi-island travel that will boost visitor arrivals and spending on the neighbor islands,” Hawaii Tourism Authority CEO Mike McCartney said.
In addition, Hawaiian said it has purchased its existing fleet of 15 leased 717s from Boeing Capital Corp. in a refinancing transaction that reduces its fleet costs over the long term. The airline also signed multiyear leases with Boeing Capital for the three additional 717s. Terms of the deals were not disclosed.
“Hawaiian’s decision to expand its fleet and move from operator to owner is a further vote for the world’s best 100-seat airliner by an experienced and valued customer,” said Jordan Weltman, Boeing Capital president for the Americas region.
The airline also has in its fleet 17 Boeing 767-300ERS and four Airbus A330-200s. Those planes are used for mainland and international flights. The 767s seat up to 264 passengers, and the A330s can carry 294 passengers.
STRETCHING ITS WINGS
Hawaiian Airlines commands a majority of the interisland market:
INTERISLAND PASSENGERS IN 2010
Hawaiian Airlines 83%
Go! 9%
Island Air 5%
Mokulele 1%
Japan Airlines 1%
Pacific Wings 0%
Trans Air 0%
Big Island Air 0%
Source: State Department of Transportation Airport Division
INTERISLAND SCHEDULED AIRLINE SEATS FOR JUNE:
Hawaiian Airlines 80.9%
Go! 8.5%
Island Air 7.7%
Mokulele 1.5%
Pacific Wings 1.4%
Source: OAG Aviation
Saturday, July 2, 2011
Hawaiian Airlines Expands Its Interisland Fleet ~ More Positive Tourism and Economic Indicators
Airlines give state tourism a lift
Hawaiian expands its interisland fleet and plans to add 20 flights and hire more workers
By Dave Segal
Article from: Star-Advertiser
Hawaiian Airlines will boost its fleet with the addition of three Boeing 717-200s, which will provide more flights between Honolulu and the neighbor islands.
Hawaiian Airlines, the dominant carrier in the interisland market, will add three Boeing 717-200s to its fleet later this year which will provide about 20 more flights per day between Honolulu and the neighbor islands.
The company said Thursday it expects to hire an additional 40 to 50 pilots, flight attendants and ground staff to support the increased operations.
“With our increasing service to Hawaii from Asia, demand for our interisland flights during peak hours of the day and during popular travel periods has never been higher,” Hawaiian CEO Mark Dunkerley said. “Adding these aircraft will give us the ability to serve more customers during these periods.”
Hawaiian, which carried 83 percent of all interisland passengers last year and provided 81 percent of the seats last month according to state data, said it expects to take delivery of the three leased aircraft in September, October and November. It said the increased service will begin in October. The airline said service will be expanded to Kahului, Lihue, Hilo and Kona during peak travel periods. The 717s seat up to 123 passengers each.
“The increased capacity will help to support the HTA’s goal to promote the Hawaiian Islands and encourage multi-island travel that will boost visitor arrivals and spending on the neighbor islands,” Hawaii Tourism Authority CEO Mike McCartney said.
In addition, Hawaiian said it has purchased its existing fleet of 15 leased 717s from Boeing Capital Corp. in a refinancing transaction that reduces its fleet costs over the long term. The airline also signed multiyear leases with Boeing Capital for the three additional 717s. Terms of the deals were not disclosed.
“Hawaiian’s decision to expand its fleet and move from operator to owner is a further vote for the world’s best 100-seat airliner by an experienced and valued customer,” said Jordan Weltman, Boeing Capital president for the Americas region.
The airline also has in its fleet 17 Boeing 767-300ERS and four Airbus A330-200s. Those planes are used for mainland and international flights. The 767s seat up to 264 passengers, and the A330s can carry 294 passengers.
STRETCHING ITS WINGS
Hawaiian Airlines commands a majority of the interisland market:
INTERISLAND PASSENGERS IN 2010
Hawaiian Airlines 83%
Go! 9%
Island Air 5%
Mokulele 1%
Japan Airlines 1%
Pacific Wings 0%
Trans Air 0%
Big Island Air 0%
Source: State Department of Transportation Airport Division
INTERISLAND SCHEDULED AIRLINE SEATS FOR JUNE:
Hawaiian Airlines 80.9%
Go! 8.5%
Island Air 7.7%
Mokulele 1.5%
Pacific Wings 1.4%
Source: OAG Aviation
Hawaiian expands its interisland fleet and plans to add 20 flights and hire more workers
By Dave Segal
Article from: Star-Advertiser
Hawaiian Airlines will boost its fleet with the addition of three Boeing 717-200s, which will provide more flights between Honolulu and the neighbor islands.
Hawaiian Airlines, the dominant carrier in the interisland market, will add three Boeing 717-200s to its fleet later this year which will provide about 20 more flights per day between Honolulu and the neighbor islands.
The company said Thursday it expects to hire an additional 40 to 50 pilots, flight attendants and ground staff to support the increased operations.
“With our increasing service to Hawaii from Asia, demand for our interisland flights during peak hours of the day and during popular travel periods has never been higher,” Hawaiian CEO Mark Dunkerley said. “Adding these aircraft will give us the ability to serve more customers during these periods.”
Hawaiian, which carried 83 percent of all interisland passengers last year and provided 81 percent of the seats last month according to state data, said it expects to take delivery of the three leased aircraft in September, October and November. It said the increased service will begin in October. The airline said service will be expanded to Kahului, Lihue, Hilo and Kona during peak travel periods. The 717s seat up to 123 passengers each.
“The increased capacity will help to support the HTA’s goal to promote the Hawaiian Islands and encourage multi-island travel that will boost visitor arrivals and spending on the neighbor islands,” Hawaii Tourism Authority CEO Mike McCartney said.
In addition, Hawaiian said it has purchased its existing fleet of 15 leased 717s from Boeing Capital Corp. in a refinancing transaction that reduces its fleet costs over the long term. The airline also signed multiyear leases with Boeing Capital for the three additional 717s. Terms of the deals were not disclosed.
“Hawaiian’s decision to expand its fleet and move from operator to owner is a further vote for the world’s best 100-seat airliner by an experienced and valued customer,” said Jordan Weltman, Boeing Capital president for the Americas region.
The airline also has in its fleet 17 Boeing 767-300ERS and four Airbus A330-200s. Those planes are used for mainland and international flights. The 767s seat up to 264 passengers, and the A330s can carry 294 passengers.
STRETCHING ITS WINGS
Hawaiian Airlines commands a majority of the interisland market:
INTERISLAND PASSENGERS IN 2010
Hawaiian Airlines 83%
Go! 9%
Island Air 5%
Mokulele 1%
Japan Airlines 1%
Pacific Wings 0%
Trans Air 0%
Big Island Air 0%
Source: State Department of Transportation Airport Division
INTERISLAND SCHEDULED AIRLINE SEATS FOR JUNE:
Hawaiian Airlines 80.9%
Go! 8.5%
Island Air 7.7%
Mokulele 1.5%
Pacific Wings 1.4%
Source: OAG Aviation
Friday, July 1, 2011
Happy Canada Day!
Happy Canada Day!
The Hansen Ohana extends are best wishes for a happy and safe Canada Day to our Canadian friends, clients and family. As many of you know two of our ohana were born and raised in Canada – it’s another reason we feel we are well suited to best meet the needs of Canadian clients. Clients often comment on how smooth the process is and how comfortable we are able to make them during the property purchase or sale process. In addition to our vast experience with international buyers and sellers in general and multigenerational local industry knowledge we have team members who understand and have been through the Maui home buying and selling process from Canada first hand.
Please call or email us anytime to discuss questions you might have or to discuss your property search goals and dreams.
1-800-291-5535 or (808)280-2764
Clinthansen33@gmail.com or Dad@MauiRealEstate.NET
A little trivia about Canada Day (formerly known as Dominion Day):
Canadian Confederation, the birth of Canada as a nation, took place on July 1, 1867, and originally included the provinces of Nova Scotia, New Brunswick, Ontario and Quebec. There are now 10 provinces and three territories in Canada.
Province / Territory Date Entered Confederation
Alberta September 1, 1905
British Columbia July 20, 1871
Manitoba July 15, 1870
New Brunswick July 1, 1867
Newfoundland March 31, 1949
Northwest Territories July 15, 1870
Nova Scotia July 1, 1867
Nunavut April 1, 1999
Ontario July 1, 1867
Prince Edward Island July 1, 1873
Quebec July 1, 1867
Saskatchewan September 1, 1905
Yukon June 13, 1898
We’re all familiar with the red and white Candian flag with the maple leaf in the middle, but it wasn’t until 1965 that Canada had a flag of her own.
Happy Canada Day!
The Hansen Ohana extends are best wishes for a happy and safe Canada Day to our Canadian friends, clients and family. As many of you know two of our ohana were born and raised in Canada – it’s another reason we feel we are well suited to best meet the needs of Canadian clients. Clients often comment on how smooth the process is and how comfortable we are able to make them during the property purchase or sale process. In addition to our vast experience with international buyers and sellers in general and multigenerational local industry knowledge we have team members who understand and have been through the Maui home buying and selling process from Canada first hand.
Please call or email us anytime to discuss questions you might have or to discuss your property search goals and dreams.
1-800-291-5535 or (808)280-2764
Clinthansen33@gmail.com or Dad@MauiRealEstate.NET
A little trivia about Canada Day (formerly known as Dominion Day):
Canadian Confederation, the birth of Canada as a nation, took place on July 1, 1867, and originally included the provinces of Nova Scotia, New Brunswick, Ontario and Quebec. There are now 10 provinces and three territories in Canada.
Province / Territory Date Entered Confederation
Alberta September 1, 1905
British Columbia July 20, 1871
Manitoba July 15, 1870
New Brunswick July 1, 1867
Newfoundland March 31, 1949
Northwest Territories July 15, 1870
Nova Scotia July 1, 1867
Nunavut April 1, 1999
Ontario July 1, 1867
Prince Edward Island July 1, 1873
Quebec July 1, 1867
Saskatchewan September 1, 1905
Yukon June 13, 1898
We’re all familiar with the red and white Candian flag with the maple leaf in the middle, but it wasn’t until 1965 that Canada had a flag of her own.
Happy Canada Day!
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