Dear Readers:
Welcome to September
on Maui!! School bells are definitely in full swing as another year of
educational endeavors begin for our keiki (children). If you are
planning a trip to our island paradise this month….come hungry.
Sept. 7th – 8th the 10th
Annual “A Taste of Lahaina”: Maui’s largest culinary
festival provides the best tasting dishes from Maui County
Restaurants, music, rides & farmers
market…held at Lahaina’s Special Events arena off Honoapiilani
Hwy. Sept 8th University of Hawaii Football Opener: Played for the first time on a neighbor island UH will square
off against Montana at the War Memorial Stadium in Wailuku.
Hawaii’s “Leading
Economic Indicator” having rallied upward from September 1998
(98.32) to January 2000 (103.105) has steadily declined to 98.47 thru
April 2001. Feeling the pressure from the mainland economy, Hawaii
continues to be directly tied to the economic winds outside our State.
We continue to struggle with economic job growth, which is the
mainstay of a healthy economy. Our economic engine is sputtering,
despite the “best face” put forth by government officials. The
run-up in Hawaii’s economy during 1998-2000 was fueled by gains in
the stock market, west coast property appreciation and continued
strong exchange rates with Asian markets. This translated into a brisk
real estate market and strong construction industry. As these economic
factors cooled so has the Hawaii real estate market, especially for
the high-ticket items. Following please find the forecast of economic indicators for
Hawaii - - a bit too rosy a picture in my humble opinion.
ACTUAL
AND FORECAST KEY ECONOMIC INDICATORS FOR HAWAII:
1999 TO 2004
|
Economic
Indicators
|
1999
(actual)
|
2000
(actual)
|
2001
(forecast)
|
2002
(forecast)
|
2003
(forecast)
|
2004
(forecast)
|
|
Total population (in
thous)
|
(NA)
|
1,216.4
¹
|
1,226.1
|
1,235.9
|
1,244.6
|
1,253.3
|
|
Visitor arrivals (in
thousands)
|
6,741.0
|
6,975.9
|
7,073.6
|
7,257.5
|
7,438.9
|
7,624.9
|
|
Visitor expenditures (in
million)
|
10,279.7
|
10,923.7
²
|
11,306.0
|
11,871.3
|
12,464.9
|
13,088.1
|
|
Honolulu CPI-U (1982-84=100)
|
173.3
|
176.3
|
179.8
|
183.6
|
187.6
|
192.0
|
|
Personal income (in million
dollars)
|
32,640.5
|
34,190.8
|
35,729.3
|
37,301.4
|
38,942.7
|
40,656.2
|
|
Personal income (in $1992
million)
|
29,226.9
|
30,085.9
|
30,838.0
|
31,547.3
|
32,241.3
|
32,918.4
|
|
Total wage & salary jobs
(in thousands)
|
542.7
|
559.4
|
572.6
|
584.6
|
596.3
|
607.1
|
|
Gross state product (in
million dollars)
|
37,395.1
|
39,394.3
²
|
41,188.8
|
42,995.9
|
44,877.6
|
46,840.0
|
|
Real gross state product (in
1992 $'s)
|
33,872.3
|
35,142.1
²
|
36,077.6
|
36,946.4
|
37,796.7
|
38,629.0
|
|
Gross state product deflator
(1992=100)
|
110.4
|
112.1
|
114.2
|
116.4
|
118.7
|
121.2
|
NA Not available.
¹ This July 1, 2000 estimate has been prepared by DBEDT. Revised U.S.
Census Bureau intercensal estimates (1990-2000) are forthcoming. The
Census Bureau count as of April 1, 2000 is 1,211,537.
² Revised.
Source: Hawaii State Department of Business, Economic Development
& Tourism, June 2001.
As always…I would
like to “Thank You”
for taking time out to read our magazine and or stopping by our web
site (www.maui-style.com). Your continued participation and
support of our publication, in all forms, is essential
to our success!! If
you have specific real estate questions on any of the properties or
services mentioned throughout our magazine please fill out the
reply card or call our advertisers direct. We have the MOST
KNOWLEDGEABLE ADVERTISERS AROUND!!! Let them know you saw their ad in “Real
Estate Maui Style”, a genuine “Made on Maui” product.
The only UNIQUELY MAUI REAL ESTATE MAGAZINE… WITH MAUI MAGIC!
See you in October!!
Sincerely,
Leil Koch
President
Real Estate Maui Style
info@maui-style.com
Also available online: last month's Editor's
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