December 2017 Kaanpali Alii Update

Yes Virginia, he does make it to all the Islands

Mele Kalikimaka & Hau'oli Makahiki Hou

Merry Christmas & Happy New Year

LOCAL MAUI NEWS

Aloha Kaanapali Alii Owners,

After being closed for repairs, popular Iao Valley State Park is open again to the public. The 4,000-acre 10-mile-long park is a top outdoor destination on Maui, with it's iconic Iao Needle. * Up in the sky ... is it a bird, a plane? No that's the first observed interstellar asteroid, and it's been given a Hawaiian name! Oumuamua will give astronomers all over the world a chance to observe an object from a solar system that is not our own.

A bill that would make it illegal to smoke in a vehicle with a minor present will be reintroduced in a special Maui County Council meeting on January 5th. Maui is the only county in the state that has not enforced such legislation. * Maui is also considering making internet access available at county facilities, including the War Memorial Stadium and Gymnasium, the Lahaina Civic Center, the Iron Maehara Stadium and the South Maui gymnasium now under construction. The aim is to provide free basic usage, and a nominal cost for higher bandwidth access.

Young blond hair three year old boy lighting the candles in the Jewish tradition to celebrate Hanukkah

More sports events could mean big business for Hawaii. Under the Hawaii Tourism Authority umbrella, the state continues to draw its fair share of high-profile events. Now Hawaii Lt. Gov. Shan Tsutsui feels that there are many missed opportunities and that Hawaii should have a separate agency or commission that is dedicated to developing sports into a thriving industry. * U-haul has purchased the former Kmart store on Maui for nearly $27 million. They plan to turn that building (next to Costco) into a full-service moving and self-storage facility with more than 1,000 self-storage rooms.

CURRENT MARKET ANALYSIS

New development is on tap for 2 of Maui's most exclusive resort areas ... Kaanapali and Wailea. Groundbreaking for the final phase of Honua Kai Resort & Spa will be next month. The 10 acre 72 "Luana Garden Villas" townhomes will be 3 bedroom units in 18 two-story buildings. * Meanwhile, construction is set to begin in the first quarter of 2018 on "Makalii at Wailea". The 68-unit luxury townhome project will be across from the Fairmont Kea Lani Maui. The complex will have 17 buildings with 2 and 3 bedroom mid-century modern townhomes. * And lastly, a recommendation for a special management area use permit has been given for a new 100-room "couples oriented" hotel in Wailea ... adjacent to the developer's more family oriented Residence Inn by Marriott. The four-story "Hotel Ike Wailea" will include 2 buildings, lobby, meeting room, business center, pool, fitness center and 85 parking spaces.

Maui single-family home sales last month saw prices go up but sales decline. The median price of a single-family home on Maui increased by more than 8% last month compared to last year at the same time. The number of sales declined to 72 homes sold compared to 91 during the same month last year ... a 20.9% drop. On the other hand, condominiums recorded increases in sales and prices for November.

Now l et's take a look at Kaanapali Alii :

Figures from Realtors Association of Maui

TOURISM

Visitor spending in Hawaii increased 6.8% to $13.8 billion for the first 3 quarters of this year. Thus far, the tourism industry has generated $1.62 billion in state tax revenue, which is $103 million more than last year at this time. Through the first 10 months of 2017, visitor arrivals increased 4.7% to 7.7 million. The East Coast reported the largest gain in visitor spending ... 10.6% to $3.56 billion while arrivals increased 5.9%. Spending by West Coast visitors rose 9.9% to $5.07 billion while arrivals increased 4.3%. Spending from Japan increased 9.9% to $1.87 billion with arrivals increasing 6.4%. Canada reported a 9% increase in spending to $805.7 million with arrivals increasing 8.4%

On Maui, visitor spending increased 4.2% to $3.91 billion through the first 10 months of this year. Arrivals rose 3.2% to 2.27 million. Maui hotels recorded an increase of 9.7% in RevPAR (revenue per available room) during the first three quarters.

Last month I brought up a new kind of tourism Hawaii is looking into - Medical Tourism. This time we'll touch on 2 other kinds of tourism. Voluntourism is where tourists can combine vacation with opportunities to help the community. It's catching on globally and now here in Hawaii: Sustainable Coastlines Hawaii. Another new term is Sustainable Tourism. That program aims at tour operators. Those who positively impact the environment, culture, and community get the official Hawaii Ecotourism Association certificate. Check here for 50 certified tour operators: Hawaii Ecotourism Association

Holiday season is here. Maui is packed with visitors, and hotels are charging top dollar. If you have friends or family coming in for the holidays, do them and yourself a favor. Check out Maui Beachfront Rentals . Due to some last minute cancellations they have some insane specials going on a few units. There are no hidden fees. That's where I keep my vacation rentals, and my guests save money by avoiding all those inflated fees by travel agencies. They have properties to suit even the pickiest traveler with over 60 locations island-wide. Their service doesn't stop with the booking - locally based staff is available 24/7. For me, it means no hassles. No more trying to cover all my bases with a local rental agency here plus extra advertising on sites like VRBO, HomeAway, Flip Key and others to try and get a decent return. MBR covers it all and at no additional cost.

TRAVEL

a star of david candle burns the the chanukah season.

Hawaii has decided to open its public roads as a test for the development of driverless vehicles and their related technologies. Gov. David Ige signed an executive order that is an open invitation to car manufacturers and tech companies from around the world to test their products on the Island. One of the first projects will be a driverless shuttle bus, which will serve the rental car facility currently under construction at Honolulu Int'l. Airport.

Hawaiian Airlines will launch a daily non-stop service between San Diego and Maui beginning May 1st. They've also announced 4 new daily summer flights for 2018, including its first international seasonal service. New summer flights will be between San Francisco and Honolulu; Oakland and Kona, Big island; Los Angeles and Maui; and Narita and Honolulu.

Now here's a little peek at what could be coming up. Hawaiian Airlines is "considering" introducing basic economy class. Passengers in basic economy class, offered on other airlines such as United and American, often can't pick their seat assignments, have bag restrictions, or in Hawaiian's case, may not be served the airline's complimentary meal service.

One of the new "smart" gifts being touted this holiday season is Smart Luggage. These bags can help you navigate the airport, or even let you know where it is if it didn't follow you to your destination. BUT, there's a caveat. Soon it may not be welcome in airline cargo holds. Starting January 15th, American Airlines said it would not allow passengers to check smart luggage unless they remove the batteries first. The bags themselves are not an issue ... it's the lithium ion batteries.

MORTGAGES

The big news this week is the Federal Reserve's decision to raise its benchmark interest rate by one-quarter of a percentage point. Our mortgage expert Dean Rathbun of Avis Mortgage says this raise was expected and marks the third hike this year. Fed officials are confident that the economy is in good health. Going forward, the economy is predicted to see an uptick as a result of the expected passage of a massive tax cut. The Fed is forecasting economic growth of 2.5% in 2018. And while the Fed has predicted rate raises 3 times in 2018, and 2 more in 2019, some Wall Street firms are expecting even stronger economic growth. Goldman Sachs has gone on record predicting the Fed will raise rates 4 times in 2018, and 3 times in 2019 as a response to stronger growth. Jerome Powell, governor of the Fed, will take the reins from Chairwoman Janet Yellen in early February.

Following on the heels of the Federal Housing Finance Agency, the Federal Housing Administration has announced it will increase its loan limits in most areas of the country in 2018. In high-cost areas of the country, the FHA's ceiling on loan limits will rise from $636,150 to $679,650. These figures will also apply to FHA-insured reverse mortgages. Fannie Mae and Freddie Mac's new conforming loan limits for 2018 will be $453,100 for conforming loans and $679,650 for jumbo loans in some high-cost areas.

MAUI HAPPENINGS

Snowmans family at sea beach in santa hats. New years and christmas holiday in hot countries concept.

Ongoing: Stand Up Comedy Open Mic Every Wednesday Night

12/19: Free Moonlit Movies at Sugar Beach 5:30pm "ELF"

12/now-23: "Let It Snow" Tues, Thurs, Sat Queen Ka'ahumanu Center

12/24: Santa Arrives on Wailea Beach by Canoe! 9am - 11am

photos with Santa in front of Grand Wailea Hotel

12/24: Santa Arrives at Polo Beach by Canoe! Noon

photos with Santa in front of Fairmont Kea Lani

12/now-25: Sugar Cane Holiday Train with Santa 2 trains nightly

1/3-7: 2018 Sentry Tournament of Champions Kapalua Plantation Course

1/16: 3rd Annual Dr. Martin Luther King Jr. Run for Peace Details

Maui Gift & Craft Fair schedule

12/24, 12/31 Lahaina Gateway 9-2

New Years Eve Festivities

also check with local hotels/restaurants

Cocktail Cruise Lahaina/Ma'alaea: Pacific Whale Org

Cocktail Cruise Lahaina: Pacific Whale Org

Pride of Maui: Ma'alaea cocktail cruise: Pride of Maui

Alii Nui: Dinner & Cocktails adults only Ma'alaea: Alii Nui

New Years Luau: Drums of the Pacific Kaanapali Two Seatings

Maui OnStage Iao Theater tickets

1/19-21: Maui Fringe Theater Festival

2/03-4: Maui Chamber Orchestra - Young Artist Showcase

3/02-18: Cabaret

3/24-25: Maui Chamber Orchestra - Americana

4/27-5/13: Of Mice and Men

5/25-27: Maui Chamber Orchestra - Musicals

7/13-8/5: Singin' In The Rain

Maui Theater Monday, Tuesday, Thursday Friday tickets

"Ulalena" Hawaiian Show 5pm

"Burn'n Love" Relive Elvis in Hawaii Concert 7:30pm

Maui Arts & Cultural Center
tickets

12/28-29: Phil Lesh & Friends former bassist Grateful Dead

12/30: Howie Mandel comedy

1/01: Bill Maher

1/05: Ozomatli & G LOVE dance party

1/06: Willie K's Bluesfest

1/12-13: Judy Collins concert

1/14: Diplo concert

1/18: Jim Brickman piano's greatest hits

1/20: Miss Moku O Ka Loke Hula Pageant solo hula

1/20: Lisa Fischer & Grand Baton concert & dancing

1/21: Holiday Pops

1/21: Broadway Pops

1/25: Aotearoa's Finest New Zealand/Maori music

1/27: Observe & Play Family Day

1/27: Makana & Friends: A Tribute to Hawaiian Slack Key Legend Sonny Chillingworth

1/28: Judy's Gang in "Party On"

Our island is bustling right now. There are so many visitors here right now, and each one of them is reveling in the fact that they're in a tropical paradise and not back home shoveling snow. But like everything else, all good things must come to an end. Or does it? A lot of these folks are going to try and think of excuses to stay, or at least own a piece of paradise for themselves. I'd be happy to offer you a no obligation, confidential evaluation of your property if you're even considering selling your property. Likewise, if you're thinking of purchasing a property lock in those low interest rate now, remember the Fed is expected to raise rates at least 3 times next year. I have over 30 years experience in the Maui market, you can't put yourself in better hands. Remember, we are the only Berkshire Hathaway Real Estate Brokerages on Maui. Our offices are located in Lahaina-Kapalua and Wailea-Makena. I'm available to you 7 days a week.

Happy Holidays to friends and ohana ( family ) celebrating Christmas, Hanukkah, and Kwanzaa.

Then the Grinch thought of something he hadn't before.

What if Christmas, he thought, doesn't come from a store?

What if Christmas, perhaps, means a little bit more ...

John

Broker/Owner