Open Homes for Friday 02/03/12

The Hansen Ohana proudly presents the following open homes to view today from 1:00 p.m. to 4:00 p.m.

10 Lio Poele Place Fantastic quiet cul-de-sac location close to schools, restaurants, beaches and all resort activities. A wonderful place to live and play.

3300 Wailea Alanui Dr. unit #18-D Directly across from world famous Keawakapu Beach is this beautiful ocean view condo just steps to the beach with toes-in-the-sand fun.

37 Ualei Place Breathtaking panoramic ocean & outer island views & warm tropical breezes intoxicate the senses & renew the spirit. An easy walk to Palauea Beach & the many world-class hotels, shops & restaurants that make up the Makena/Wailea resorts.

3723 Lower Honoapiilani Road #202 Fabulous panoramic ocean views! Incredible location! Rarely available! Nohonani is directly beachfront – and there’s only 28 units in the entire complex.

Come by and view one of these fabulous homes today!

Update On The Proposed Downtown Kihei Project Makai Of The Existing Pi'ilani Village Shopping Center

Developer Plans Downtown Kihei Article From: The Maui Weekly Article By:Tom Blackburn-Rodriguez Imagine South Maui developers getting applause at a community meeting when they proposed a 150-room hotel, a  state-of-the-art HD movie theater, restaurants, retail shops and a pedestrian plaza. In what may have been a unique moment in the history of development in Kihei, that is exactly what happened at the conclusion of a presentation at a Kihei Community Association (KCA) meeting by Jay E. Krigsman, executive vice president  of Krausz Companies Inc., after he provided an update on the company’s proposed Downtown Kihei project makai of  the existing Pi’ilani Village Shopping Center, which is also owned by Krausz. He said the goal of the company was to “Create a fun and exciting place to work, shop and play.” The Downtown Kihei project will be located on both side of Pi’ikea Street, bordered by South Kihei Road and Lipoa Drive. The anchors for Downtown Kihei will include a “Cinetopia” movie theater, where all screens will be digital with living room  La-Z-Boy-style theater seating, a sit-down restaurant, wine bar, live music, local musicians and local art displays. In addition, the project is planned to incorporate a hotel that will serve both locals and the businessperson who may be  in town for a few days. Because the hotel is incorporated into the Downtown Kihei design, hotel guests will be able to walk  to the shops, theater and restaurants. When it comes to traffic and streets, Krigsman said that Downtown Kihei will consist of a series of streets and a plaza to  create a place where one can spend family time. The design offers wide sidewalks, seating areas, a stage and a few vertical  streets not necessary for traffic flow, which can be closed off for farmers’ markets, health fairs and other community functions. Parking is primarily in the back of the buildings in shaded areas not visible or prominent from the street. The goal, said Krigsman, is “to create streets where people can walk.” Following Krigsman’s presentation, KCA President Jon Miller moderated and participated in a panel with the developer and  South Maui County Councilmember Don Couch. Couch reported that he supports legislation that would give the Urban Design Review Board (UDRB) expanded authority in  reviewing development projects, including Special Management Area (SMA) permits. Currently, the requirement for an SMA permit for development makai of Pi’ilani Highway gives groups like the KCA more  opportunity to weigh in, because projects are proposed in the SMA area. The same clout does not apply for projects mauka of the highway, unless zoning changes are requested. Couch would  end that distinction and require all projects to receive UDRB approval. Miller agreed, saying, “The issue now is there is very little protection above the SMA project area.” When questioned about opportunities for locally owned businesses to locate shops in Downtown Kihei, Krigsman said  that costs for the project continue to grow as delays in the permit and approval process drag on. “The intent is to have an eclectic mix of national and local stores,” he said. “The county is making it so expensive to turn a  shovel of dirt, that we have to reflect it in the rent.” With a solid audience turnout, the KCA moved briskly to provide an opportunity for state Rep. George Fontaine to present  an overview of activities he has been involved with since the last month’s meeting. These included a meeting with Ed Reinhart, president of Maui Electric Company (MECO), to advocate for an alternate plan  for the utility’s proposed 70-foot metal poles along the mauka side of Pi’ilani Highway from the new power substation near  the intersection of Ke Ali’i Alanui Road. Fontaine reported that MECO is now reconsidering that plan and will hold a community meeting in Kihei in the near future to  discuss potential alternatives. At this last meeting of the year held on the Lipoa Street campus of the Kihei Charter School, the KCA also unanimously elected  its new board of directors for 2012. Those elected were Andrew Beerer, Steve Cordova, Michael Di Bella, Daniel Kanehele, Jon  Miller, Mike Moran, Bob Richardson, Patricia Stillwell, Greg Straton and Jorge Tioga. For more information about future KCA meetings and activities, visit gokihei.org.

Island Wide Halloween Events For All Ages Saturday Through Monday

Halloween Round-Up: Saturday Through Monday By Madeline Ziecker Excerpt of Article from: Mauinow.com SATURDAY, OCTOBER 29 Paia Maui Pranksters Costume Ball at Charley’s Restaurant. The ball starts at 10 p.m. Entrance is $5 with a costume and $10  without. Best his and hers costume will win $100 each. Kihei Devil’s Night Party at Ambrosia Martini Lounge. Starts 10 p.m. No cover for those in costume with music by DJ Decka, $2 off of all tequila and costume prizes. Kahului 3-Night Halloween Party: Glo & GOREfest Costume Contest at Kahului Ale House. Starts 10 p.m, no cover. Glow sticks and  glow-in-the-dark clothing encouraged. Scary movies will play on 30 TVs as fog layers the floor. Winner of the Kahului Best Costume Contest will collect $400. Halloween drink specials include $7 Glowing Ghost drinks, $5 Graveyard shots, $4  Candy Corn shots, $3 Freddy Krueger shots and $2 Trick-or-treat shots. SUNDAY, OCTOBER 30 Kihei Wild + Wicked Art Show & Costume Party at the Tiki Lounge. Starts 8 p.m. Art pieces will be sold in support of Plant A  Wish Foundation. Kahului 3-Night Halloween Party: Anythig GLOWS Masquerade Party at Kahului Ale House. Starts 10 p.m. $10 cover after  10 p.m. Featuring DJ Jamn J and DJ Blinky. Free body painting from 9-11 p.m. Halloween drink specials include $7  GHOSTinis, $5 Fried Brain shots, $4 Candy Corn shots, $3 Freddy Krueger shots and $2 Trick-or-Treat shots. MONDAY, OCTOBER 31 – HALLOWEEN NIGHT Paia The New Mastersounds, Freeradicals Projekt, and DJ Boomshot at Charley’s Restaurant & Saloon. Starts 9 p.m.  Sell-Out Expected – Buy Tickets In Advance. Howl 1031 at Moana Bakery & Cafe. Starts 9 p.m. $20 cover. Costume and all-night DJ dance party. Cash prizes  will be offered to the best dressed. Kihei Sexy & Scary at Ambrosia. Starts 10 p.m. DJ CIA, $4 “brain hemorrhage shots” and “spooky juice drinks” in house. Halloween Night With DJ Slackin’ at the Tiki Lounge. Starts 10 p.m. will drink specials all night. Halloween With MOTHxp at Three’s Bar & Grill. Starts 8 p.m. for all ages and at 10 p.m. for 21 & over. Lahaina Halloween “Back on Front” Keiki Costume Parade on Front St. Parade starts at 4:30 p.m. with Maui’s keiki in their best  costumes. Comments Off

Starting in November Wailuku Friday Events Extend to Lahaina, Paia and Makawao

By Wendy Osher Article from: Mauinow.com The County of Maui Office of Economic Development will unveil a new initiative this week that will expand the successful  Wailuku First Friday event into a four-Friday-per-month, island-wide event. “Wailuku merchants have done a fantastic job revitalizing their businesses with their First Friday celebration,” said Mayor  Alan Arakawa. “It’s time we duplicate their success in other towns across the county,” said Arakawa. Following in the footsteps of Wailuku’s successful “First Friday,” and Paia’s “Fourth Friday” celebrations, Maui County is  now partnering with coordinators in Lahaina and Makawao for similar events. The overall concept of The Maui Friday Town Parties will be unveiled early next month, along with a website and logos  for each town event. “These events will spur local people and visitors to go to our small towns and enjoy the historic and unique nature of  these business communities,” said Mayor Arakawa. The Maui town party schedule starting November 4th will be as  follows: Wailuku – First Friday, Lahaina – Second Friday, Makawao – Third Friday, Paia – Fourth Friday. ***Check back for details to be unveiled by the county in the first week of November.

Show Support For Clint Hansen's Proposed Opening of Maui Paintball

Filed under: Uncategorized — Clint Hansen @ 4:48 pm On November 22, 2011 I am getting my long awaited (years in the making) meeting with the Maui Planning Department  for my proposed opening of Maui Paintball. To help show community and visitor support for this endeavor please  CLICK HERE and sign my on-line petition. In addition to my love of the sport I feel that opening this facility would be  of tremendous benefit to those of us who are fortunate enough to call Maui home and those who come to visit. This  will be a fully insured and properly supervised enterprise on approximately 10 acres in Olowalu. Thanks to everyone for their support and please feel free to call me at 808-280-2764 or email me at  Clinthansen33@gmail.com with any questions. Mahalo and Aloha, Clint Hansen, Realtor (S) The Hansen Ohana

The Buzz~Compliments of Old Republic Title & Escrow of Hawaii

THE BUZZ
Compliments of Anne Diola
Old Republic Title & Escrow of Hawaii

There’s good news in real estate to report as we enter the fall season. In August, sales of existing homes rose 8.5 percent to a seasonally adjusted annual rate of 4.47 million in August. What’s important to note is that this rate is 20.2 percent above the 3.72 million pace of August 2010. Also, U.S. home prices were up for the fourth month in a row, according to the latest Standard & Poor’s/Case-Shiller Home Price Indices.
Existing home sales increased from July to August in all regions:
Northeast – increased 2.7 percent
Midwest – increased 3.8 percent
South – increased 5.4 percent
West – increased 18.3 percent
Ron Phipps, President of the National Association of Realtors, reports that currently we are experiencing the best housing affordability conditions in a generation. Clearly, buyers are enjoying the benefits of today’s market and historically low interest rates.

JUST ASK
Q: I’m hearing about something called a “conforming loan limit” and how it’s changing. Can you tell me more about this?

A: The conforming loan limit determines the maximum size of a mortgage that the U.S. – specifically, the Federal Housing Administration, Fannie Mae and Freddie Mac – will guarantee. Before the housing bust in 2008, the government-insured loan limit was $417,000. This limit still applies across most of the country. But in areas with high home values — 250 counties, in all — the government increased those limits to bolster the confidence of cautious lenders.

Since 2008 the limit in affected counties has been $729,750. But as of October 1, the new limit has been reduced to $625,500. Home buyers in these counties can obtain non-conforming home loans (known as “Jumbo” loans), but the interest rates are typically higher and require a larger down payment. In a nutshell, the lowering of the loan limit can mean fewer loan options for buyers in affected counties.

MY TOWN
As the nights grow longer and days a bit cooler, you probably find yourself shifting from thoughts of barbeques and swimming pools to pumpkins, harvest festivals and trick-or-treating. As you get ready for October festivities, consider turning your pumpkin carving tradition into a family activity. Whether you’re 2, 22, or 102, carving pumpkins lets you express your creative self.
Disney’s FamilyFun.com site has lots of tips on pumpkin carving and buying (Hint: Visit your local pumpkin patch!). Check out their slide show of creative pumpkin carving and decorating ideas too for some inspiration. Kraft.com includes pumpkin carving stencils you can print and loads of Halloween-themed recipes. About.com is also a good source for carving tips and recipes. Did you know, for example, that you can use your Jack O’ Lantern as an air freshener? Just sprinkle some cinnamon, nutmeg or cloves on the bottom of the lid.
Spread out your newspapers, get a carving knife and pumpkin, and get ready to have some fun celebrating fall. Happy carving!

FYI
On October 15th, from 5:00pm to 9:00pm, drop by the Shops at Wailea for an amazing charity event called: “Sharing, Shopping, and Symphony”. This is sponsored by the Windermere Foundation and all funds raised will stay on Maui! There will be Live Entertainment, Silent Auction, Fashion Show, and more. Looking forward to seeing you all there!

Anne Diola’s Contact Info:
Anne Diola
Account Executive
Old Republic Title & Escrow of Hawaii
33 Lono Ave, Ste 195
Kahului, HI 96732
W: (808) 281-8430
M: (808) 281-8430
adiola@ortc.com

  shareshare

Kihei Community Association Meeting~Community Explores Maui Island Plan

Community Explores Maui Island Plan

Public discusses important policy document under review by Maui County Council.

Written By:Tom Blackburn-Rodriguez
Article from: The MauiWeekly

The Kīhei Community Association (KCA) meeting held on Tuesday, Sept. 20, was billed as a review of smart planning for South Maui.
The meeting began with an announcement by state Rep. George Fontaine, who said he was meeting with Maui Electric Company (MECO) President Ed Reinhardt to try and stop the utility’s plan to install 70-foot power poles along the mauka side of Pi‘ilani Highway as part of an effort to increase the supply of electricity for growth planned in South Maui.

Subsequently, the Maui Weekly recently learned that Rep. Fontaine appears to have been successful, stating that the MECO plan will be modified.

Rep. Fontaine disclosed additional information in a Thursday, Sept. 22, Facebook posting: “After meeting with MECO and hearing my suggestion of moving the lines further mauka above any view-plane and development, they agreed.”

“The route will now go from some midway point on Mokulele Highway, across A&B and ranch lands,” he added. “They need to work [out] what the new cost will be and easements. Once they complete it, they will present the new plan to the community. The president [Reinhart] also apologized to the community on how this was initially handled.”

Following Fontaine, the group discussed the potential impact of the proposed Maui Island Plan currently under review by the Maui County Council.

Among the guest speakers for the evening were environmental activist and former General Plan Advisory Committee (GPAC) member Lucienne de Naie and Kathleen Kern from the county Planning Department’s Long Range Planning Division.

De Naie said that much is at stake for South Maui, depending on the final form of the Maui Island Plan that is approved by the council.

She said the important issues affecting the area include: Hawaiian cultural heritage; shorelines, oceans and reefs; watersheds and wild lands; livable, walkable communities; housing opportunities; food and energy self-sufficiency; economic diversity; and adaptation to climate change.

De Naie is concerned that the council is engaged in softening the language of the proposed plan by removing words like “shall” and “must,” and replacing them with words such as “may” and “encourage” in areas relating to environmental and building practices, to name a few.

She also criticized the council for removing or placing in the index section maps tied to policy statements regarding topics such as preservation of the shorelines and hazard areas.

“Good maps equal good plans,” de Naie said. “We need to advocate that our maps connect to our Maui Island Plan.”

A panel moderated by KCA President John Miller brought de Naie together with Kern.

Miller reiterated his concerns to Kern. “The community has spoken about what we want and don’t want in South Maui, and what we want our community to look like. But, after all that, why do we get these monster plans that are so shocking, instead of what the community vision is asking for. What mechanism are we going to put in place to get the community we want?”

Kern replied that the Maui Island Plan is a policy document that is open to interpretation. “There is a difference between a policy plan and regulation such as zoning, etc.,” she said. “Ultimately, what governs things are the regulations.”

She recommended that as the community moves forward from the Maui Island Plan to the development of community plans that will put policy recommendation into effect, they correctly identify the zoning they want with specific design guidelines.

Kern, an architect who has previously worked on planning issues in Seattle, Wash., suggested that Maui might want to look at the Seattle planning model.

“In Seattle, after doing neighborhood plans, they began to develop neighborhood design guidelines,” said Kern. “Any large project has to go to the community design review board.”

Next month’s KCA meeting, scheduled for Tuesday, Oct. 18, will examine commercial development in North Kīhei. KCA meetings are held the third Tuesday of each month at 6:30 p.m. at the Kīhei Charter Middle School Campus, 41 E. Līpoa St. For information, call 879-5390 or visit www.gokihei.org.

89th Annual Maui Fair Starts Today

89th Annual Maui Fair Starts Thursday The 89th Annual Maui Fair will begin Thursday, September 29th at the War Memorial Complex Fairgrounds in Wailuku. By Madeline Ziecker Article from: www.Mauinow.com The fair will begin on Thursday at 4:30 p.m. with the 89th Maui Fair Parade. At 5 p.m., fair gates will open and guests can  begin to enjoy the array of food and festivities planned for this year. Gates will close at 11 p.m. ‘Aloha’ Friday is when the action increases. In the morning visitors can attend the Special Fair, beginning at 10 a.m. with a  performance by Zenshin Daiko, the children’s Japanese style taiko (drum) group. Following Zenshin Daiko, Mayor Alan  Arakawa will give a brief welcome. Musical entertainment will continue throughout the day until gates close at midnight. On Saturday fairgoers can look forward to several musical talents, including Kihei Cowboys, Conscious Roots, and Nuff  Sedd. The Meadow Gold Healthy Baby Contest begins at 10:30 a.m., which gives proud parents the opportunity to s howcase their healthy keiki in a setting that promotes health and nutrition. Gates will close at midnight. The fair will conclude on Sunday, beginning with the 2011 Cheer Spirit Showcase at 11 a.m. All pop warner, high school,  and all star teams will get the chance to showcase their team spirit through a routine. A Best in Team Spirit Award along  with other participation awards will be handed out at the showcase. The rest of the day will include performances by  Homestead, Kendra, Kalapana, and hypnotist James Kellogg Jr., but the schedule is reportedly subject to change without  notice. Gates will close at 11 p.m. At least 17 rides will be open during fair hours including this year’s newest ride, The Dragon Coaster, along with classic  favorites such as the Castle Bounce, Century Wheel, and Wave Swinger. In addition to the rides and entertainment, many flock to the fair for the endless variety of decadent foods offered.  Everything from Ahi Bowls to Malasadas will be available for purchase. There is nowhere else on Maui where you have  40 options of places to eat in one day, within a block. Proceeds from the sale of these meals will go to many nonprofit  & civic organizations to help boost their yearly operating costs. The 7th Annual Maui County Department of Fire and Public Safety Chili Cook-off Fundraiser will be held on Saturday,  October 1 from 10 a.m. – noon. This year’s cook off will feature some of Maui’s top chefs including Executive Chefs  Tylun Pang from The Fairmont Kea Lani Maui, Ryan Luckey from Pineapple Grill at Kapalua Resort, and Chef Riko  Bartolome. The chefs will showcase their best chili recipes alongside teams of Maui Fire Department. The public is  invited to sample the chili for $1 a bowl. Proceeds will benefit the Shriner’s Children’s Hospital Patient Transportation  Fund for children afflicted with injuries related to fires. HOURS & PRICES Thursday, September 29 — 5 p.m. to 11 p.m. Friday, September 30 — 5 p.m. to midnight Saturday, October 1 — 10 a.m. to midnight Sunday, October 2 — 10 a.m. to 11 p.m. General Admission: Adults $7 Keiki (5-11) $3 Discount Sunday: Adults $5 Keiki (5-11) $2 Rides: Single Coupons $1 Sheet of 10 Coupons – $10 See www.mauifair.com for questions or for more details.   shareshare

Interesting Opportunity For Maui Meadows Volunteers

Smart Grid Project Recruiting 200 Maui Meadows Volunteers By Wendy Osher Article From: www.Mauinow.com The Maui Smart Grid Project will demonstrate and evaluate new technologies that will help residents better  manage and reduce energy consumption during periods of high demand. It will also assist Maui Electric  Company (MECO) operate the electricity grid more efficiently. Volunteers are being sought from the Maui Meadows neighborhood in South Kihei to participate in a pilot project to help Hawaii reduce its dependence on  imported oil. The Maui Smart Grid Project is recruiting up to 200 volunteers for the program with all project  technologies to be provided and installed at no cost to participants. The technologies that will be evaluated by the Maui Smart Grid Project are designed to give customers more  control over their energy use, increase energy efficiency and allow for greater integration of clean energy  resources. The project is also designed to reduce Hawai’i’s dependence on imported oil, which the state relies  upon for about 90% of its energy needs. “Maui is the perfect location for this kind of smart grid research.  Approximately 26% of the energy on its relatively small electrical grid comes from renewable resources,” said  Dr. James Griffin, project director for the Hawaii Natural Energy Institute at the University of Hawai’i, one of  the project’s lead organizations. Under the program, participants will have a smart meter installed in their home as well as access to a  personalized, secure website displaying information on energy use measured by the new meter. Participants will also have the opportunity to try additional smart grid technologies in their home, such as an  in-home energy use display and a smart thermostat. The technologies will provide project participants with  more information on, and control over, how and when they use energy. In addition to the home-based  equipment, Maui Electric Company (MECO) will assist in the monitoring and management of the delivery of  electricity to customers. “Improving each island’s electricity grid through new smart grid technologies is a key element of Hawaii’s  landmark clean energy goals,” Griffin said. “Through the experiences of Maui residents in this project, we  will learn valuable lessons about the best ways to modernize Hawaii’s electricity system.” MECO President Ed Reinhardt said initiatives like the Maui Smart Grid Project are vital to successfully balancing  service reliability and as-available sources of power like solar and wind. “The success of the Maui Smart Grid Project will give our customers greater control of energy use in the home  and help MECO manage demand during peak usage times, reduce outages, and enable quicker restoration of  power,” said Reinhardt. Maui Mayor Alan Arakawa said the first step in reducing energy use is to understand how our choices affect  energy use. “Volunteers in this project will see how much electricity is used when they turn on their computer,  television, or lights. The Smart Grid project has great potential,” said Arakawa. The project team will host a community meeting in the next couple of months to provide further details on t he project and answer questions from community members. To learn more about the Maui Smart Grid Project and to sign up, visit: www.mauismartgrid.com or call  808-270-6803. The US Department of Energy is funding the Smart Grid initiative as part of a nationwide set of  demonstration projects. In addition to HNEI and MECO, other project partners include the Hawaiian Electric  Company (HECO), Silver Spring Networks, GE Energy, County of Maui, Maui Economic Development Board  (MEDB), Sustainable Living Institute of Maui at the University of Hawaii-Maui College, HNU Energy, and SRA  International. *** Supporting information courtesy, Maui Electric Company.

Build Your Dream Just Steps From Charley Young Beach

This 10,545 sf vacant lot is apartment zoned ~ so build a single family home or there are existing plans for 4  approximately 1300sf Hanalei Townhomes. The lot has ocean and mountain views and is just steps away from Charley Young Beach. For a closer look  at Charley Young Beach be sure to check out our website’s livestreaming webcam. This property is currently  listed for $795,000 ~ mls #349490. For more information on this or any other properties call Clint Hansen  (808)280-2764 or email: Clinthansen33@gmail.com

Hawaii's Visitor Industry Job Count Continues To Grow

Filed under: Uncategorized — Clint Hansen  Tourism Related Jobs Could Top 159,000 By Sonia Isotov Article from: www.mauinow.com Expected growth in Hawaii’s visitor industry job count could reach as high as 159,542 in 2011, according  to a statement released today by the Hawaii Tourism Authority (HTA). The statement issued by the HTA was a reaction to statements made by President Obama and Governor  Abercrombie last night regarding the importance of job creation in order for our state and nation to fully  recover from the economic downturn. “Hawaii’s visitor industry helped to provide 152,864 jobs in the state in 2010, the largest generator of jobs  among the major industry sectors. Tourism is also the largest single source of private capital into Hawaii,  with visitor spending reaching $11.4 billion and contributing to $1.1 billion total tax revenue,” said Mike  McCartney, president and CEO Hawaii Tourism Authority, in a written statement. “With new airlift, marketing and destination experience-based programs, we anticipate the number of  tourism related jobs to grow to 159,542 by the end of 2011. Tourism is a natural export for Hawaii  and the US and provides a strong foundation for our economy.”

UH economists say ‘recovery has slowed, but not stopped’ - Mauinews.com | News, Sports, Jobs, Visitor's Information - The Maui News

UH economists say ‘recovery has slowed, but not stopped’ - Mauinews.com | News, Sports, Jobs, Visitor's Information - The Maui News

Maui April 2011 Sales Statistics ~ Median Home and Condo Prices Rose Again

Maui April 2011 Sales Statistics
Brief Maui Statistics Overview:

April’s Sales Volume – April’s Residential Sales held steady at 87 homes sold, while Condo Sales retained most of last month’s gain at 119 units sold. Land sales came in at 14 lots sold.

April’s Median SALES prices – Home median prices rose again to $500,000 while Condo median prices rose to $340,000. Land median price dipped to $382,500.

Days on Market for Residential homes = 146 DOM, Condos = 141 DOM, Land = 362 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-April 2011 to January-April 2010. Short timeframe (monthly) views do not necessarily reflect the longer timeframe trends. Year to Date: Comparing January-April 2011 to January-April 2010 Residential unit sales rose (+8%), average sold price = $670,632 (-9%), median price = $460,000 (-2%) and total dollar volume sold = $192,471,469 (-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 increased (-6%), average sold price = $499,628 (-32%), median price = $321,250 (-25%). Total Condo dollar volume sold = $213,840,740 (-37%). 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 (-11%), average sold price = $720,201 (+27%), median price = $350,000 (-33%), Total dollar volume = $29,528,241 (+13%). Also, total sales for immediately past 12 months: Residential = 837, Condo = 1,121, Land = 121.

May 11, 2011 – Active/Pending/Contingent status inventory:

May April Mar. Feb. Jan. Dec. Nov. Oct. Sept. Aug. July June May

Homes 935 958 964 953 963 974 976 1,001 981 994 1,008 1,007 1,040

Condos 1,203 1,305 1,331 1,379 1,383 1,371 1,347 1,394 1,455 1,503 1,412 1,423 1,449

Land 547 554 557 566 569 601 596 601 620 604 601 591 579

Current Absorption Rate base on this month’s Active inventory divided by April Sales is:

Residential = 9.6 months, Condo = 10.1 months, Land = 39 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 and April 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 somewhat over the past 12 months and include many short sales and REO (bank owned) properties which 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 than 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.

The above statistics and commentary were provided by RAM (The Realtors Association of Maui). For specific questions or to discuss your Maui real estate goals and needs please call The Hansens at (808)879-3667 any time. As always, we look forward to hearing from you.

2014 Being Looked At For Transformational Commercial Algae Facility On Maui After Cellana Starts Algae-to-Oil Production In Kona

Kona company starts algae-to-oil production
Cellana says it will be able to make 3,800 gallons of oil per acre annually for biofuels

By Alan Yonan Jr.
Article from: Star-Advertiser

Cellana’s 6-acre facility at Keahole Point in Kona is capable of producing up to 60 tons of oil-rich algae a year. Cellana’s goal is to produce 3,800 gallons of oil per acre per year to be used for biofuels, animal feed, cosmetics, nutritional oils and industrial chemicals.

Cellana Inc. said it has begun producing oil from algae grown at its Kona facility and is on track to begin commercial production by 2014.

The Big Island company is harvesting up to one ton of algae a month in ponds at its 6-acre facility at Keahole Point. The company estimates it will be able to grow up to 60 tons of algae capable of producing 3,800 gallons of oil per acre per year.

The oil can be refined into a variety of products, including biodiesel for automobiles and power generation plants. Other uses include animal feed, cosmetics, nutritional oils and industrial chemicals.

Oil-rich algae is considered an attractive crop for biofuel production because of its relatively high yield compared with other crops. Algae can produce up to 11 times more oil per acre than the oil palm nut, the next-highest yielding feedstock, according to the U.S. Department of Energy. Algae yields are as much as 145 times higher than soybeans, the department said.

“Over $100 million has been invested to date in our Kona demonstration facility, our algae strains and the process we use to grow, harvest and separate our algae biomass, which puts Cellana on a very short list of leading companies in the emerging algae-based biofuels and bioproducts industry,” said Martin Sabarsky, Cellana’s chief executive office.
Cellana’s parent company, Cellana LLC, last month changed its name from HR BioPetroleum, which was founded in 2004. HR BioPetroleum in 2008 signed a memorandum of understanding with Maui Electric Co. and Alexander & Baldwin Inc. to develop a commercial algae facility on land next to MECO’s Maalaea power plant.

“It is a pioneering effort with tremendous potential, and we are now looking at 2014 for the construction and operation of this transformational facility on Maui,” Sabarsky said.

Cellana also announced yesterday that it has received a $5.5 million federal grant to develop animal feed from the algae grown at the Keahole Point facility.
The grant from the U.S. Department of Agriculture will be combined with $1.6 million raised by Cellana for the project titled “Developing a new Generation of Animal Feed Supplements,” according to a news release from the office of U.S. Sen Daniel Inouye.

The project began Sunday and runs through April 30, 2014.

The senator praised “Cellana’s efforts to move Hawaii away from the use of imported fossil fuels while developing innovative new products form one of our most readily available resources.”

Higher Demand, Improved Buyer Confidence & Prices Help Drive Rebound In Resort Home Sales

Lower prices drive rebound in resort home sales
Higher demand and improved buyer confidence also helped the boost

By Andrew Gomes
Article from: Star-Advertiser

Buyer demand for Hawaii homes broadly rebounded last year, and a new report shows that the same was true for one segment of the state’s housing market: resort residences.

Sales of condominiums and single-family homes — new and previously owned — as well as house lots at master-planned resorts such as Wailea on Maui, Mauna Lani on Hawaii island and Princeville on Kauai ended a four-year slide with a 42 percent surge to 1,473 properties last year from 1,040 the year before.

The surge was in line with home sale increases for all homes on the neighbor islands, where gains last year ranged roughly from 20 percent to 60 percent. Most resort home sales were on the neighbor islands as opposed to Oahu, where the rebound for all home sales last year was closer to 10 percent.

The report by local market researcher Ricky Cassiday of Data@Work said the rebound in resort home sales was aided by improved confidence among buyers and the slow economic recovery, though the big driver appeared to be lower prices.
“No way around it,” Cassiday said in the report. “This strong rebound in activity is thanks to dramatically falling prices.”

The average sale price was $1.1 million last year, down 14 percent from nearly $1.3 million the year before.

Cassiday’s report said the average peaked in 2008 at nearly $1.6 million, which put the cumulative decline since then at 29 percent.

It’s uncertain whether prices will rebound this year. The 2009-10 price decline was a record. The previous record drop for resort home average prices in Hawaii occurred in a single year, 1977, when the average fell 27 percent, according to Cassiday.

Cassiday said Hawaii’s resort home market this year likely will either see prices stabilize, which could slow sales, or further price drops that would help sales continue rising. He said he’s betting more on prices rising slightly.

Last year, many resort home sellers were dropping prices. In other cases, lenders were pricing property attractively after foreclosure.

Cassiday’s report said 9 percent of resort home sales last year were foreclosures that sold for an average $737,343 compared with an average $1.35 million for nonforeclosure resort home sales. A report by RealtyTrac released earlier this year said 11 percent of all home sales in Hawaii were foreclosures last year.
Another factor in the average price decline has been developers cutting back on building high-end homes amid the economic downturn.

Developers sold 371 new resort homes last year, an 11 percent decline from the year before, the report said.

The divergence helped pull down the average sale price for all resort homes last year, as the average new home sold for $1.5 million compared with $971,277 for the average previously owned home.

Cassiday expects developers will have a smaller share of resort home sales this year if buyer demand grows ahead of home production by cautious developers slowly resuming construction.

In some cases, developers are offering incentives to spur sales.

Earlier this year, Castle & Cooke tried auctioning all its unsold inventory of resort property on Lanai. The company offered 11 homes and three lots, and ended up selling five condos at Manele Resort for close to $1.2 million each on average, or about 80 percent of the price for the most recent previous sale at Manele last year.

Last month, Brookfield Homes Hawaii publicized efforts to sell three golf course homes in its KaMilo subdivision at Mauna Lani with prices starting at $799,000. Last week, Brookfield announced an incentive of up to $50,000 in free designer furnishings for buying select KaMilo homes before May 15.

According to Cassiday’s report, there were 386 sales last year at the least expensive end of the market, between $250,000 and $499,000. At the high end, there were 358 sales for properties of more than $1 million.

Near the height of the market in 2006 and 2007, there were about 150 sales under $500,000 in each year compared with about 800 sales over $1 million.
$1.1 million. The Valley Island has held the top spot since at least 2006. The average on the Big Island was $704,328, followed by $465,369 on Oahu and $428,690 on Kauai.

Maui also had the most sales at 562. Hawaii island was next at 401, followed by Kauai at 345 and Oahu at 162.

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Bank Of Hawaii First Quarter Earnings Top Forecasts ~ CEO Cites Many Reasons Including Improving Hawaii Economy And Stabilizatin Of Real Estate Values

Bankoh net falls but tops forecasts

CEO Peter Ho says an improving Hawaii economy is leading to better credit quality

By Dave Segal
Article from: Star-Advertiser

Bank of Hawaii Corp. said its loan portfolio and interest margins are continuing to benefit from the state’s improving economy.

Hawaii’s second-largest bank in terms of assets blew past analysts’ first-quarter earnings estimates by 16 cents yesterday even as net income fell 19.7 percent from the year-ago period.

Bank of Hawaii had earnings of $42.4 million, or 88 cents a share. Analysts had expected the bank to earn 72 cents a share. A year earlier, the bank earned $52.7 million, or $1.09 a share, but that included net gains of $20 million from the sale of investment securities. Last quarter, the bank had securities gains of just $6.1 million.

Peter Ho, chairman, president and CEO of Bank of Hawaii, said he was pleased with the first-quarter results, adding that the improving economy in Hawaii was largely behind it.

“All roads go back to the economy,” Ho said. “We have seen for several quarters now continued improvement in the Hawaiian economy, and that’s 90 percent of our business and hugely important for us.”

Ho said the bank has started to see increased activity in its business segments, particularly on the consumer front and in the stabilization of real estate values.

“We think there’s reason for cautious optimism from an economic standpoint here in the islands, and that is obviously impacting our credit quality in a positive way,” Ho said. “We’ve logged improvement in credit quality for at least three quarters now, and our assumption is we’ll continue to see that. I guess the big ‘X factor’ is what happens with the Japanese situation. We’re obviously concerned like the rest of the community, but it’s a little too early to determine how much an impact that will have on the economic recovery.”

Bank of Hawaii’s stock, which traded as high as $49.22 yesterday, ended off 28 cents, or 0.6 percent, to $47.39.

The securities gains came from the bank trying to take the risk out of its balance sheet by selling longer-term government securities in favor of shorter-term securities due to the rising interest-rate environment. Rising interest rates also helped the bank improve its net interest margin, which is the difference between what it pays depositors and what it brings in from loans. Bank of Hawaii’s net interest margin was 3.24 percent in the first quarter. That was worse than the 3.72 percent in the year-earlier quarter but better than the 3.15 percent in the fourth quarter.
Analyst Brett Rabatin of Birmingham, Ala.-based Sterne Agee said credit quality and better margins “drove the quarter in terms of upside.”

“I think it was a good quarter in a still-challenging environment,” Rabatin said. “Bank of Hawaii obviously had stellar asset-quality trends through the downturn. Their credit quality never got to be peer-like because they had less exposure to high-risk borrowers and loan types like construction. So they’ve definitely seen lower charge-offs from consumer trends and nonperforming assets. Generally, I think that’s indicative of an improving economy.”

Bank of Hawaii set aside just $4.7 million to cover potential loan losses in the first quarter, compared with $20.7 million a year earlier and $5.3 million in the fourth quarter of 2010.

Total assets rose 4.2 percent to $13 billion from $12.4 billion. First Hawaiian Bank ranks first in the state in total assets with $15.2 billion.

Loans and leases declined 5 percent to $5.3 billion from $5.6 billion. And deposits gained 4.4 percent to $9.9 billion from $9.5 billion.

Revenue fell 14.4 percent to $153.6 million from $179.4 million. Net interest income declined 7.4 percent to $99.7 million from $107.7 million. Noninterest income, which includes money earned from fees and charges, fell 24.9 percent to $53.9 million from $71.8 million.

Ho said the bank generated $2 million less in debit card overdraft fees last quarter from the year-earlier period after a federal law went into effect in the middle of last year that required consumers to give their permission for banks to assess overdraft charges.

The bank also maintained its quarterly dividend at 45 cents a share. It will be payable June 14 to shareholders of record as of the close of business on May 31.