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Unit 608, a one bedroom, remodeled unit with beautiful views has closed for $910,000. Unit 1605, also a one-bedroom unit, sold for $886,500 after eleven months on the market. Unit 407, another one-bedroom listed for $860,000 has gone into escrow after six months on the market.
According to the American Affluence Research Center, that of the top 10% of American wealthholders (of which a subset accounts for almost all Maui buyers)
In today's Wall Street Journal an article discusses the impact of the subprime lending pullback. Here are some key points:
The Maui Film Festival will run this year from June 13-17. This is one of the real cultural treats on the island. Old movies on the beach, first run movies on a golf course, specialty movies on rooftops and of course hours and hours at the wonderful Castle Theater at the Maui Arts and Cultural Center. Every year we have the same complaint…that we can't see them all!
The Federal Reserve did not change either interest rates or its guidance today. The Federal Funds rate remains 5.25%.
In today's Honolulu Advertiser, Andrew Gomes has summarized what is going on in the Hawaii housing market and what may be coming. The article focuses on Oahu, but still has some thoughtful tidbits:
This past week was relatively quiet at Wailea Ekolu. Unit 201, a remodeled two-bedroom unit with a nice ocean view has reduced its asking price from $950,000 to $919,000. Another two-bedroom unit has also been withdrawn from the market.
Our favorite local economist,Paul Brewbaker, Chief Economist of the Bank Of Hawaii, has released his latest quarterly review of Hawaii Economic Trends. Here are some key findings:
First quarter Hawaii tourism results have been released:
2010 Wailea Ekolu Real Estate Report Now Available!
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