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

Maui Memorial Medical Center Awarded Grant To Support Launching Of The New 24/7 Heart Brain & Vascular Center

Maui Memorial receives $50,000 grant

Article From: MauiWeekly

First Hawaiian Bank Foundation recently awarded a $50,000 grant to the Maui Memorial Medical Center (MMMC) Foundation to support MMMC’s new Heart Brain & Vascular Center.
With the launching of MMMC’s “24/7” Heart Brain & Vascular Center, the stress, anxiety and travel costs for countless Maui patients have been eliminated, as Maui residents no longer need to travel to O‘ahu for procedures such as angioplasty or open heart surgery. In addition, patients’ families no longer have to take time off from work, find child care or make other arrangements in order to travel with and care for their sick family member. But most of all, providing these critical services here on Maui saves lives.

“First Hawaiian Bank appreciates the opportunity to partner with Maui Memorial Medical Center Foundation to support this fundraising campaign to dramatically improve and expand healthcare services for Maui,” said FHB Foundation President Sharon Shiroma Brown.

The MMMC Foundation recently embarked on a $2 million “SEED” Campaign to support “space, equipment, education, and delivery” of improved healthcare services for Maui. The campaign will focus on providing additional space for the new cardiovascular team, continuing education for clinical staff to improve quality and delivery of healthcare, and new state-of-the-art equipment, which will allow Maui residents to receive the best possible treatments.

Total Airline Seats For Maui Have Increased Dramatically So Far In 2011 Notes Local Economist Dr. Leroy Laney

Local Economy a ‘Mixed Bag’ Economists share analyses and predictions at economic outlook forum. “…the recession served to pull the scab off the  long-term wound of our economy—that wound is debt.” Sarah Ruppenthal Article From: Maui Weekly Dr. Jack Suyderhoud, professor of business economics at the University of Hawai‘i at Mānoa Shidler College of Business,  and Dr. Leroy Laney, First Hawaiian Bank economic advisor and professor of economics and finance at Hawai‘i Pacific  University, presented their economic analyses during the 37th Annual First Hawaiian Bank Economic Outlook on Friday,  Sept. 16.  For many, it may have been uncertain if the analysis presented at this year’s First Hawaiian Bank Economic  Outlook Forum was good news or bad news. But after taking a look at the big financial picture, one thing seemed certain:  Maui County is creeping along the road to recovery. More than 200 residents filled the Elleair Ballroom of the Maui Beach  Hotel on Friday, Sept. 16, for coffee, breakfast and the 37th Annual First Hawaiian Bank Economic Outlook Forum featuring  local economists Dr. Leroy Laney and Dr. Jack Suyderhoud. “Overall, Maui’s economy this year is a mixed bag,” said Laney,  First Hawaiian Bank economic advisor and professor of economics and finance at Hawaii Pacific University. “Maui’s visitor  industry is doing extremely well, thanks to its resilient upscale image… with resulting higher room  rates and a welcome  growth in airlift, including flights from secondary Mainland cities.” Total airline seats for Maui “have increased dramatically  so far in 2011,” with far stronger growth than anywhere else in Hawai‘i—an increase of more than 11 percent this year, Laney reported.  “A big reason is the fact that Maui has been picking up direct flights by Hawaiian and Alaska Airlines from  secondary cities in the U.S. and Canada. That, combined with aggressive marketing in those cities, has paid off,” he said. As a result, hotels have been able to raise their room rates, and Maui now has the highest average daily room rate in the state. “So reputation does pay off,” said Laney. With its unique juxtaposition of small town charm and big city sophistication, Maui offers “a combination that’s hard to top.”  But while tourism may be a boon for Maui County, it isn’t an economic panacea. “Tourism alone cannot be relied upon  to bring Maui back to better times,” said Laney. “The job total continues to struggle to return to pre-recession levels [and]  unfortunately, other sectors of  Maui’s economy, especially the construction industry, continue to lag significantly. Residential construction is down practically everywhere now,but anyprogress to resuscitate overall construction-public  or private—would result in a more balanced and sustained recovery for Maui.  ”The anemic construction industry is contributing to the lag in job creation and the uptick in unemployment  across Maui County, Laney said. “Maui continues to lose jobs, the only county in the state for which that’s consistently the  case,” he pointed out. “Even though the official end to the recession occurred some time ago… although the visitor industry is doing quite well, weakness in other sectors of Maui’s economy simply overwhelms that strength.” Laney predicted that gradual declines in Maui’s unemployment rate “will likely continue in the future. But there remains a  stark contrast between the current jobless rate and the 2 percent number that prevailed in the peak year of 2007.” However, he said, “Help may be on the way,” citing several projects slated for construction, such as Alexander & Baldwin’s Maui Business Park Phase II in Kahului and the 138-room Courtyard by Marriott around the corner from the Kahului Airport. In addition, economic growth is evident on the campus of University of Hawai‘i Maui College, which has seen a significant  increase in enrollment—nearly 33 percent in two years. “One growth area in the Maui economy, which also helps to diversify  it, is the recently renamed UH Maui College,” said Laney. “The name change reflects the addition of four-year degrees to its  curriculum, the first UH community college to grant such degrees.  ”Taking a look at the bigger picture—the U.S. and global economies—Dr. Jack Suyderhoud, professor of business economics at the University of Hawaii at Mānoa Shidler College of Business, described an invaluable opportunity to mold the future by  ooking at the past—and the present. “A few years down the road, when historians and economists look back on the Great Recession of 2007-09, it will not be regarded so much as a painful transitory period, but rather as the moment when the  long-term weaknesses of the U.S. economy became glaringly exposed,” he said. “In that sense, the recession served to  pull the scab off the long-term wound of our economy—that wound is debt.  ”Debt is the most formidable obstacle to financial recovery, he said, and the longer we take to deal with it, the longer it  will  take to see adequate economic growth.  “I’m hoping that the limited progress made on debt reduction will help stabilize short-term expectations,” said Suyderhoud.  However, he said, if capital markets believe that the U.S. is not serious about reducing its structural deficits, “this may spook  consumers and business investments. ”The result?  “That could indeed push us into the second dip,” Suyderhoud said.  “But I’m deeply hopeful that will not be the case… how we handle debt reduction and rebalancing the economy in the next few months will tell us a lot about our long-term prospects." For more information about the 2011-12 Economic Forecast for Maui County, visit the First Hawaiian Bank Website at  www.fhb.com.

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