Poipu real estate market

June 7, 2010 1 comment »
Aerial view of Poipu Beach Park on the island ...
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The Poipu real estate market, one of the more tourist-oriented portions of the larger Kauai real estate market, may be starting to emerge from the economic recession. According to a May 8, 2010 article in the Garden Island, “Foreclosures are on the rise and buyers are scooping up properties across the island, recent statistics show, but the two may not be correlated, said University of Hawaii-Manoa Associate Professor of Economics Dr. Carl Bonham Friday.” The piece, written by Coco Zickos, continued to note that “The number of sales for the first quarter of 2010 was almost 70 percent higher than last year, according to Multiple Listing Service. ‘Many of the sales have been influenced by the need to compete with the multitude of short-sale offerings (homes sold for less than what is owed)…thus the sales price reflect this,’ said Kauai North Shore Properties Principal Broker Dennis Toth.”

A second article in the Garden Island reported positive news for Poipu homes for sale, which may see a rise in interest as the economy recovers. According to this May 15, 2010 article, “Slipping back into a recession is unlikely, according to a recent report from First Hawaiian Bank. Apparently the recession is over, some economists say.” The piece, also composed by Coco Zickos, went on to say that “Employment is also reflected in the visitor industry, Boonham said. ‘As long as we keep adding jobs, we’re going to’ continue to see recovery, he said. But if ‘people start worrying about their jobs again,’ they will be less inclined to travel. Since visitor arrivals rose in March on Kauai by some 8 percent and spending for the state is around 20 percent higher than it was at its lowest point, there is ‘good reason to believe we’ve past the bottom,’ Bonham said.”

One particular investor, Summit Pacific, increased its holdings of Poipu real estate in a recent auction. According to a May 12, 2010 press release, the group obtained “The Nihi Kai Villas 833 is a spacious resort at Poipu Beach, offering a brilliant view of the coastline and the mountains and located very near Brennecke Beach and Poipu Beach County Park.”

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Honolulu vacation packages

May 17, 2010 1 comment »
Ali{{okina}}i?lani Hale, Honolulu, Hawaii
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Honolulu is indeed one of the most widely popular tourist attraction sites. With its clear unclouded skies and warm reflecting waters, the place boasts thriving beaches and perhaps even more crowded hotels and homes. Apart from the sun and the surf, the place is also well known for its rich architecture such as oceanfront hotels, museums and historic monuments. The Hawaiian capital is indeed a treat for all those who love the thrill of outdoor adventures and beautiful sceneries. Furthermore, due to its vast popularity the place boasts abundant nightlife, ensuring that no single moment of your stay is gong to be wasted in sheer boredom

For those who plan a vacation in Honolulu, Hawaii, opting for vacation packages is an excellent idea. These packages provide tourists and visitors with numerous benefits over the casual hotel room renting. Not only are you saved from the unnecessary hassle and worries of spending your valuable vacation time on random hotel room searching but with the additional value added services provided, you have the opportunity of changing your mere stay into an unforgettable and gratifying vacation experience.

Waikiki vacation rentals come in a variety of combos, each package catering to different needs, tastes and budgets. One of the most widely opted for package and perhaps also the most cost-effective one is that of a combination of air travels and hotel reservations. This single package accommodates almost all of your major expenses leaving you with ample of space on your shopping budget.

Other than that, you are also free to opt for hotel deals offered by many. There are certain special packages for vacations and tourists and a couple of seasonal promotions offered to the tourists.

At Honolulu your vacation starts the moment you step onto the island. With its lively resorts and hotels and oceanfront suites you are given luxurious accommodations and a plethora of lively vacation activities and parties that are indeed fit for a king. While searching for the perfect accommodations and rentals in Honolulu make sure you do abundant research on the World Wide Web to best grasp what kind of packages are offered. You are free to choose a package that offers you multiple night stays in an oceanfront suite or opt for a cozier accommodation, near to the crowded beaches where you can enjoy all the snorkel tours and canoe sails.

A lot of tourists prefer the old fashioned way of rentals for the rates offered by these hotels and resorts are very likely to fall under the range of many. Thus for those individuals who are visiting Honolulu on a limited budget, the options are many and varied, starting with an economical hotel stay.

Furthermore, as Honolulu is a tropical region boasting a warm and humid climate, a hotel accommodation that comes with an onsite swimming pool would surely be a wise choice.

However, for the ultimate epicurean experience furnished by luxuriant perks and services then opting for Honolulu real estate is recommended. These resorts offer exceptional facilities and services to their visitors and are thus a tad more expensive than the hotels. Whatever accommodation type you prefer, you are sure to be confronted with hundreds of choices and interesting options making Honolulu an ideal vacation resort.

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Reverse Mortgage Rates – How Can They Work for You?

May 15, 2010 1 comment »
Untitled 25 (or Hey dude, where's my mortgage?)
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Searching for a Hawaii refinance mortgage you need to take into account the days when you were set to find a conventional mortgage having the lowest interest rates. Shopping for the best lifetime mortgage rates is a way to allow you save thousands of dollars reflected in low repayment costs when you will be no longer among the living ones.

Plenty of advantageous offers are available online and for this you might find of a great help the use of Mortgage Foreclosure calculators displayed inside the websites of mortgage loan Hawaii lenders.

This is how you will be introduced to the options or even more, a combination of them, regarding the procedures involved by a loan mortgage: a single payment with cash, credit line or payments made monthly. Each of the options described comply with the same finance mortgage rates, which rates will be settled by the US Treasury rate.

Real Estate mortgages are known to be in their majority adjustable rate mortgages therefore the interest applied to the refinance mortgage loan will be set according to the first lending rate (meaning if this one fluctuates, then the interest will fluctuate as well).

Bit what is there the best to choose from the fixed rate and the adjustable reverse mortgage rate? The fact is that fixed rates have become lately more popular because they present steadiness and predictability whenever you are determined to look for a refinance mortgage loan.

But in the case of fixed rate your options will be limited in that you will receive the loan in a single cash payment. There is no other option available, for instance credit line or monthly payments, thus you will be charged the interest calculated on the full amount of loan right from the day of receiving the loan.

When shopping for mortgage lenders you have to determine the margins of each of the lenders, be they loan mortgage lender or refinance mortgage lenders, since according to these margins you will be charged for the future.

You have to be aware also of the fact that between a fixed finance mortgage rate and the fixed conventional mortgage rate it is a difference: the fixed loan mortgage rate will not be calculated according to your credit record, or according to your income. If your income is low or fixed, you can get a low rate lifetime mortgage once you have, or almost have, paid off your home. Mortgage Foreclosure has been originally enforced for the seniors who are with limited income.

How to find your lender? Reverse mortgage rates that are currently available online are a good source of information in this respect, these ones allowing you to get better deals when it comes to conclude a mortgage with the selected lender.

Mortgage brokers are also of a great help, they being gathered in various professional bodies or operate as individuals able to assist you with negotiations regarding several aspects of a future mortgage and the potential lower rates that may apply to your loan.

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Kahului Real Estate Market

April 18, 2010 2 comments »
D. T. Fleming Beach Park, Kapalua, Maui, Hawai...
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Kahului is the most populous city on the Hawaiian island of Maui, home to a population last estimated to be around 20,000. It is home to the island’s primary airport and is on the island’s north shore on the bay of the same name. In recent years, the market for Kahului real estate has struggled as so many cities on the Hawaiian islands have, affected by an overheating in real estate prices that was brought crashing back down once the U.S. economic downturn set in.

Local real estate statistics show that at the end of 2009, the central area of Maui, which includes Kahului, the monthly median price of Kahului homes for sale stood at $438,000, up from $430,000 the previous month in November, but down from one year earlier, when that figure was $525,000. Sales volume in the area for the month of December saw 31 homes change hands, an increase from the previous month and of a year ago, when it was both at 27.

The market for condos in Kahului is a smaller one, so statistics on the condo market are subject to wild fluctuations based on only a couple of sales. Nonetheless, condo sales volume was up at the end up of 2009. In December, there were five condos sold, and the previous month saw 13 condos sold. At the end of 2008, in December, there was only a single condo sold. The median price for the condos in December was $443,600, up from November’s $275,500. In December 2008, the figure was just $75,000, but it was based on just one low-priced sale.

For the whole of 2009, the central Maui region saw 242 single-family homes sold, a drop of 46% from 2008’s total sales volume, which was 448 units. This trend was typical across the island, as all of Maui saw a 24% drop in sales volume during 2009. The yearly median price in the central region was down only slightly from a year earlier. For the year it was $471,250, down just 4% from 2008’s median of $490,000. The condo market saw an improvement on sales for the year, with 77 condos sold versus just 61 in 2008. This also reflected the trend throughout the island, as Maui saw a 4% increase in condo sales volume. The central region saw the median sales price for condos down a full $100,000 for the year, at $190,000 versus $290,000, a good sign for buyers but a worrisome drop for sellers to swallow.

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Waikiki Real Estate

March 18, 2010 1 comment »
Waik?k? is one of the best known beaches in th...
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Waikiki, the neighborhood in Honolulu on the Hawaiian islands, has seen a wildly fluctuating real estate market over the past couple of years as it has absorbed the fallout effects of the greater American financial crisis. Overall the islands seem to be showing positive signs of improvement in the real estate market, though whether these effects are lasting.

In February of 2010, there was a more than 29% increase in single-family home sales volume on the whole island of Oahu; condo sales on the island were up around 48% during the same period. Single-family home prices on the entire island were up 7.3% versus a year earlier.

The Waikiki real estate market shows similar signs, though prices have not shown improvement. In February, there were 95 condos sold, up from 55 at the same time in 2009. Prices, however, were down. The median sales price for a condo in Waikiki was just $258,000, down from $280,000 in 2009, according to Coldwell Banker statistics. That was a steeper drop in prices than on Oahu overall, where condo prices were at $298,000 in February of this year, versus $300,000 last year.

Sales volume of Waikiki homes for sale is the bright spot for the area. Sales volume has been steadily increasing since September of 2008, even though since that period median sales prices have been all over the map, falling and rising, sometimes erratically. The number of new listings has remained virtually consistent, at 117 this year versus 119 last year, while overall condo inventory has fallen as sales volume has picked up, down to 487 from 645 at the same time last year.

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Affordable vacations in Hawaii

July 30, 2009 2 comments »
Hawaii
Image by L S G via Flickr

Hawaii has positioned itself as one of the premier travel destinations for people of all shapes and sizes from a variety of destinations around the world.

Wanted movie

While this great appeal has been marketed to people of all financial backgrounds, the costs associated with flying to and staying in Hawaii far outweigh the costs that go along with a Caribbean or Floridian vacation

Accordingly, Hawaii has become known as a more “premium” or costly vacation destination. However, contrary to popular belief, it is possible to experience an affordable vacation in Hawaii.

The first step to visiting Hawaii while keeping a tight grip on budgetary needs is by finding Hawaii vacation rentals

. Rental homes not only are more spacious and more scenic than hotel rooms, they are also far less costlier to stay in.

Although the beds won’t be made everyday and there won’t be someone to carry bags to and from the house, travelers on the budget will find great savings and rewards by finding a vacation rental property. More importantly, vacation homes allows visitors to cook.
One of the biggest expenses for tourists is the cost of dining out. By shopping at local grocery stores and cooking, visitors can save large sums of money.

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Hilo, Hawaii

July 28, 2009 3 comments »
Lilioukalani Gardens in Hilo Hawai    i
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Hilo is a coastal town located on the northeastern coast of Hawaii and has a population of about 41,000 residents.

Being the largest settlement on the island of Hawaii and second largest in the state of Hawaii, Hilo is the county seat of Hawaii County.

The town overlooks Hilo Bay and is situated by two shield volcanoes, Mauna Loa and Mauna Kea. Served by Hilo International Airport, Hilo is home to major establishments such as University of Hawaii at Hilo and the Mauna Loa Macadamia Nut Corporation, which is one of the world’s leading producers of macadamia nuts
. Hilo also hosts the annual Merrie Monarch Festival, which is a week-long festival that celebrates both ancient and modern hula.

Like most other cities in Hawaii, Hilo’s economy is based primarily on tourism. Residents and guests can find great shopping, dining, and entertainment opportunities. Hilo has a developed downtown area and is also home to movie theaters and hotels.

Some popular attractions in Hilo include the East Hawaii Cultural Center, Hilo Art Museum, Imiloa Astronomy Center of Hawaii, Liliuokalani Park and Gardens, Pacific Tsunami Museum, and Panaewa Rainforest Zoo.

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Oahu Best Places to Live

June 26, 2009 1 comment »
?Iolani Palace in Honolulu, formerly the resid...

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Now’s the time to look for real estate on Oahu! Known as the “gathering place,” Oahu is the center of the Hawaiian culture, economy, communication, and transportation. A bustling nightlife, exciting cultural events, and a wide variety of lodging, dining, and shopping options makes Oahu one of the best places to live, both for part- and full-time residencies.

A number of the state’s major attractions are concentrated on the island, namely the Polynesian Cultural Center, USS Arizona National Memorial, Honolulu Academy of Arts, The Bishop Museum, Iolani Palace

, Queen Emma’s Summer Palace, Diamond Head State Park, Pu’u O Mahuka, Waimea Valley Audubon Center, Dole Plantation, and Lyon Arboretum. Oahu is also home to a number of large retail plazas, including Ala Moana Center, the Royal Hawaiian Shopping Center, DFS Galleria,

Waikiki Shopping Plaza, Aloha Tower Marketplace, Kahala Mall, Koko Marina Shopping Center, Windward Mall, Ward Centres, Pealridge Center, and the Waikele Premium Outlets Mall.

Finding a property on Oahu is also advantageous for the cost benefits of ownership. The very premium Waikiki area’s hotels and properties are sold at extraordinarily high nightly prices. This is because some of the world’s priciest resorts are located directly on the world renowned Waikiki Beach. A number of other glitzy and famous hotels and resorts are also located on Oahu, including Turtle Bay Resort and
the Ko Olina host of hotels.

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Origins of Hawaii Statehood

March 12, 2009 No comments »
Honolulu Hawaii at Night
Image by Sheepback.Cabin via Flickr

Hawaii Statehood

Before its discovery by Captain James Cook

in the late eighteenth century, the Hawaiian Islands were governed by an assortment of kings, queens, princes, princesses, and nobles. The islands were unified by King Kamehameha the Great

(Kamehameha the First) in the year eighteen ten after a long series of wars, sieges, and diplomatic negotiations. Hawaii’s newfound unity and sovereignty was not to last long, however, and as plantation owners and foreign powers gained traction in local politics, the autonomy of the Kingdom of Hawaii was steadily decreasing. By the year eighteen ninety three, the islands had already been occupied once by the British Empire, and the monarchy had been forced to make a number of constitutional concessions under the threat of violence from American plantation owners. In the year eighteen ninety three, a coalition of political malcontents and those holding economic grudges against the current regime occupied ‘Iolani Palace and forcibly removed Queen Lilioukalani from power.
These revolutionaries called themselves the “Committee of Safety”, and established a pseudo-democratic Provisional Government that clashed for several years with the remnants of the queen’s forces. Although there were several attempts to reinstate Lilioukalani to the throne, including one violent confrontation, none were successful, and the Republic of Hawaii was founded in the year eighteen ninety four. In eighteen ninety eight, the United States Congress annexed the Republic of Hawaii under the Newlands Resolution, making Hawaii a US territory. There were several attempts to gain statehood for Hawaii in the next few decades, although none were successful until the movement received overwhelming support from the rapidly increasing immigrant population. The Hawaii Admission Act finally passed through Congress and was signed by President Eisenhower in the year 1959. Hawaii voters approved the measure by a ratio of seventeen for and one against.

Hawaii’s statehood had widely resounding effects on the economy and politics of the newly christened “Aloha State.” Honolulu, which had until that point been mostly a port town centered on Honolulu and Pearl Harbors, quickly became a hub for commercial and governmental activity. The population also increased exponentially, while the rise of the jet plane led to increased levels of tourist activity, which is now the largest industry in the state of Hawaii. A number of additional military bases were constructed on the islands, especially on Oahu and Kauai, boosting military spending to the second largest component of Hawaii’s economy. Dozens of popular television shows and movies have been filmed in the islands after statehood, including the massive hit “Lost”, “Blue Hawaii”, and even “Raiders of the Lost Ark”. The admission of Hawaii in the Union was overwhelmingly favored by the populace, but it also triggered an extreme reaction from a number of Native Hawaiians. Many of these individuals continue to contend that Hawaii was illegally invaded and occupied by the United States of America – staging protests, decrying American “injustices”, and even going so far as declaring heirs to the throne and setting up parallel governments. Although the United States government did officially apologize for the invasion of Hawaii, it did not in any way concede that Hawaii should become independent or that Native Hawaiians should be awarded reparations.

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