Good news for our economy
Maui and Hawaii are enjoying a steady drumbeat of good economic news:
• The Hawaii Tourism Authority reported that visitor expenditures in Maui County in January were $548.5 million — the largest single month ever recorded. That figure was up an astonishing 18 percent over January 2017.
The figures reflected a 12 percent increase in average daily spending per person to $253; visitor arrivals climbing 230,581, up 5.6 percent; and the average daily visitor count rising 5.3 percent to 69,808.
The arrivals showed an increase in visitors from both the West Coast and East Coast of Mainland USA, as well as an increase from Canada.
• Maui County’s real estate market remains hot. The Realtors Association of Maui said the median price for a home in February was $685,000, up 1.8 percent over last February. Median price for condo sale was $472,500, 1.6 percent higher than last year.
List prices were holding well in February’s sales. Single-family homes sold for 97.1 percent of list price, condos sold for 96.3 percent.
There were 95 closed sales for single-family homes, compared to 63 last February. There were 122 closed sales on condos, up 8.9 percent over last year.
• Maui County and Hawaii’s unemployment rates for the last two months of 2017 were half what the rest of the country saw, the Hawaii State Department of Labor and Industrial Relations reported.
Maui County’s unemployment rate for November 2017 was 2.1 percent; December’s rate was 1.8 percent. Statewide, November’s rate was 2.1 percent and December’s was 2.0 percent.
The unemployment rate for the country as a whole was 4.1 percent for both November and December 2017.
* Editorials reflect the opinion of the publisher.