Hawaii Real Estate starts Here!

Bank of Hawaii says Hawaii economy is improving.  In their earnings release earlier this week, they view the local economy as being stable with a nice jump in tourism especially in the past couple of months.   Their earnings release included the statement: “For the first two months of 2012, total visitor arrivals increased by 6.7% and visitor spending increased by 11.4% compared to the same period in 2011.”  They also look at the stabilized employment market in the islands and how our unemployment rate at 6.4% is well below national average.  They see the real estate market as being stable as well and point to the increase in median sales prices despite a volume decrease.

Hawaii is among top desired Summer destination trips this year.  Hawaii is number 2 on a list of places American families want to go on Summer vacation.  The survey was compiled by AAA Travel.  Disney World in Orlando Florida came in number one.  Others destinations on the list included London, Rome, and Disneyland in Anaheim California.  Families believe this there are many activities that would please both parents and children.  They consider that there are relatively affordable options to take advantage of as well as all inclusive resorts that offer activities for all.

We constantly consider stories such as this to assist in gauging the Hawaii economy since tourism plays such an important part in the overall health of our economy.

Hawaii’s unemployment declined again in April from 6.3% to 6.1% says the Hawaii Department of Labor and Industrial Relations.  Comparing this to the national number at 9% and Hawaii looks as if it is doing quite well.  Honolulu county came in at an ultra low of 4.6% while the Big Island had the worst number at 8.1%, but every county showed an improvement.