Maui and Canadians .......

Changing tracks a little, I did some research into visitor arrivals. Looking through The Department of Business, Economic Development and Tourism (DBEDT) figures, it's the Canadians who are bring the most Christmas cheer to Hawaii, and Maui in particular. According to DBEDT figures, Canadian arrivals are up 10% in Oct 2007 for the State, at 18 797 people, compared with 17 089 Canadian arrivals in Oct. 2006. There is a 14.8 % increase in Canadian arrivals (4 657) on Maui for Oct 07 vs Oct 06. The Oct. 07 DBEDT numbers show they are vacationing longer, and spending more money during their stay. With the Canadian dollar is off its high of 91 Canadian cents to the US dollar, and is now $1.01 to the US dollar, we have seen Canadians showing more and more interest in Maui real estate, and not only in the Kihei / Wailea condo market.

The influx of Canadians, lower interest rates, referenced by the Feds 1/4 point rate cut announced earlier today, plus volatility in the stock market, are all factors in setting the stage for a real estate come back on Maui. After months watching Maui real estate prices deteriorate, or in some cases remain flat, we believe prices will firm, with buyers realizing the bottom is near. Most significantly, is the increase in buyers ready to put pen to paper, and make an offer.

We want to thank you for support, and wish you a Merry Christmas, and a Happy New Year.