The island has been much quieter over the past two weeks. It's nice to be able to drive with no traffic, isn't it? We thought we'd discuss very briefly some of the trends we have seen in Maui's Real Estate market this year. In no order:
As the Chinese economy has continued to grow in excess of 10% per year it has created trillions in savings. Much of that has been invested in US Treasuries. A few weeks ago, for the first time, The Chinese government began to allow its citizens to open accounts with non-Chinese banks. Among others, Citigroup and JP Morgan have active efforts in China. Then today another bombshell out of China:
In today's New York Times the efforts of Hawaii Bioenergy to make Hawaii largely energy independent through the use of sugarcane as a biomass fuel.
The Department of Business, Economic Development and Tourism has released the 2006 Visitor Plant Inventory and one finds some interesting tidbits for Maui.
This Sunday at 10PM east coast time on the History Channel, the ongoing History Channel series The States will air a short piece on the overthrow of the Hawaiian Monarchy in 1893. If you aren't familiar with the story, it's worth watching.
Unit 13B, a one-bedroom unit with ocean views has closed for $1.35 million. Unit 2B, also one-bedroom, closed for $1.35 million as well. Unit 28E, yet another one-bedroom, has come to market for $1.675 million. This unit has a double lanai and has been wonderfully renovated.
According to the American Affluence Research Center, that of the top 10% of American wealthholders (of which a subset accounts for almost all Maui buyers)