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Recent News - Island Living
Optimism Rises Among Small Businesses (Honolulu Advertiser 8/8/04) Hawaii's improving economy has boosted the spirits of small business owners according to a recent Chamber of Commerce Survey. Further, 49% feel today's business climate is better than three years ago, and 71% expect it to get even better during the next three years. Click to see chart
Housing Rule Changing Soon (Honolulu Advertiser 8/8/04) Based upon recent legislation, Oahu's Kakaako area will soon see the addition of many below-market condominiums and rental apartments. Here, affordable housing will once again be built or paid for by developers. One such party, Alexander & Baldwin, recently agreed to construct 300-plus condo units next year. Click for full story
State Unemployment Claims Decreasing (Honolulu Advertiser 8/8/04) Recent Hawaii Department of Labor data indicates unemployment insurance claims are on the decline. From July, 2004 to July 2005, such filings decreased by 25.15%. Click to see chart
Hawaii Tourism Office Gets Chinese Approval (Honolulu Advertiser 8/6/04) The Chinese government has granted approval for Hawaii to open a tourism office in Beijing. Hawaii becomes only the second state in the nation to receive such approval. Lt. Gov. James Aiona said the agreement "should result in substantial economic development for our state in the years ahead." Click for full story
Maui's Wailea to Add 800 Homes (Starbulletin 8/4/04) Responding to a strong market demand, developers are expected to add about 800 homes to Maui's Wailea Resort in early 2005. This, in contrast to the 1990s, when the area saw little residential development. Click for full story
Homebuyer Limits Proposed (Honolulu Advertiser 8/3/04) Moderate income families could soon regain priority to buy hundreds of "affordable" developer homes on Oahu. Prior to 1999. several prominent developers sold at least 30% of their new homes under "affordable price" agreements based upon an annual salary of $52,500. Click for full story
Next at Maui Lani: "Mixed Use Village" (The Maui News 8/3/04) The Maui Lani's next stage will include 650 housing units situated on 120 acres in a unique "mixed use village" concept. The plan also includes a 27-acre park. Housing will consist of single and multi-family units, half of which will be affordable to families with annual incomes of $60,000. (article not online)
Kailua to Try Night Market (Honolulu Advertiser 7/31/04) Featuring local foods and produce, a new farmer's market is scheduled to open in Kailua in September. As Hawaii's only weekly nighttime market, it will run on Thursdays from 5 to 8 p.m. Click for full story
Oahu Workers Average $17.81 per Hour (Honolulu Advertiser 7/31/04) A recent Bureau of Labor statistics report indicates white-collar employees compose 52% of Oahu's work force. College and university professors are among the island's highest paid personnel. Click for full story
Stryker Debut on Big Island (Starbulletin 7/25/04) A first-time public look at the 20-ton, eight-wheeled armored assualt vehicles was provided at Waimea on the Big Island. In early July, the Army approved the conversion of Hawaii's 2nd Brigade, 25 Infantry Division into a Stryker Brigade. The display eased environmental and cultural concerns of residents. Click for full story
Hawaii Housing Forecast Sunnier Than U.S. Mainland (Honolulu Advertiser 6/27/04) This handy chart depicts Hawaii home prices projected to rise 10.2% over the next 12 months...well ahead of many mainland cities. Likewise, Hawaii's 65.4% price increase during the last 5 years is shown to be higher than most stateside figures. Click to see chart
The Rental Market is Tight and Getting Even Tighter (Honolulu Advertiser 6/27/04) Oahu's rents are at their highest level in 14 years. As one high-profile broker commented, "You don't have the supply, and you do have the demand." Click for full story
Home Sales Set 15-Year Record (Honolulu Advertiser 6/27/04) A 15-year record was set for sales of single-family homes and condos statewide. The pace accelerated rapidly each year since 1995. Click to see chart
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