Hawaii Unemployment Falling

If you're considering a Maui real estate purchase and a move to the island, but you're concerned with the job market, you may find the latest report from the state Department of Labor and Industrial Relations encouraging. The report indicates that our state's seasonally-adjusted unemployment rate dropped from 4.7 percent in June of 2013 to 4.4 percent in June of this year.

While it's important to remember that Oahu comprises the largest piece of the statistical pie by far, the numbers do apply to all the islands, to some degree. It's also worth noting that while Hawaii gets a lot of concerns from prospective residents regarding its job market, the national unemployment rate in June was 6.1 percent. It's better than the 7.5 percent unemployment rate of June 2013, but it's still significantly higher than Hawaii's.

If you're not sure whether a couple of percentage points are "significant" just remember the number of real people it represents, and how their lives are affected by unemployment. For example, Hawaii's labor force comprised of 661,550 people in June of this year, and 647,150 people in June of last year. That's 14,400 more people who have jobs in Hawaii.

Hawaii's unemployment rate didn't change between May and June this year, but our employment base increased by 2 percent year-over-year in June.

Once your job concerns are settled, then you can really dig into the business of finding the right Maui real estate to suit your preferences. If Upcountry or North Maui real estate appeals to you the most, then you're in the right place. If you need assistance, you'll find our contact information at the bottom of the page. Mahalo!

MartinOnMaui.com - By Martin Hauen-Limkilde

Hawaii State Chili Championship Cookoff

You may be wondering why a blog about a chili cookoff would come up on a North Maui real estate website, but if you're a prospective Maui homeowner who's still learning about the kind of lifestyle to expect from our little slice of paradise, it's relevant! Here on Maui, there are deeply rooted networks of families and friends, and when they come together, great food is almost always the star of the show. Old favorite family recipes as well as new discoveries from enterprising cooks bring enjoyment to any gathering. Compliments are exchanged, as are recipes in the case of the non-secretive, and there are often proclamations that this or that recipe is the best of its kind. For many of us, these are the times that Maui really feels like home, and food is like the glue that holds it together and keeps people feeling good.

The Hawaii State Chili Championship Cookoff takes bragging rights to a new level for the winners, that much is certain. It will be held at the iconic Ulupalakua Ranch, in Upcountry Maui, on July 20th from 11am to 4pm. There is no cost to attend, and chili tasting kits are $5. This event is held by the Chili Appreciation Society International (CASI), and the top three winners will go on to compete at the Terlingua International Chili Championship (TICC) in Texas on November 1st, so if you have friends or family on Maui with amazing chili recipes, you might want to encourage them to put their skills to the test. Maybe they'll find that they make the best chili in the state or even the nation.

If you want to take the opportunity to experience the event for fun and try some great chili, you can also cast your vote for the People's Choice award. Any proceeds generated by the event will also go to benefit the Maui 4-H Livestock Association, so you'll know it's for a good cause. There will be some great live music to add extra spice to this already spicy event. Those who enjoy wine tasting can do that at Maui's Winery, which is at the same location. They sell specialty foods, gifts and treats alongside their unique collection of wines, and you can peruse the historic photographs, artifacts and structures during your visit, if you're interested.

This event is a great way to get to know the island if you're new, and if you've been here long, you might just have some friends and family already planning to attend. In either case, we hope you have a great time! As always, if you need assistance with your Maui home search, our contact information can be found at the bottom of the page. Mahalo for reading this week!

MartinOnMaui.com - By Martin Hauen-Limkilde

Maintenance and Maui Home Sellers

An article recently posted on Pacific Business Journals outlined some important advice for those selling Maui real estate. It was all about maintenance, and it was very accurate. Some of Hawaii's realtors, who routinely sell the most expensive properties, commented on the importance of keeping up your real estate if you want to get the best price for your investment.

The logic is that buyers will see what needs renovating, and estimate an inflated cost for it, which they use to devalue the property. One realtor pointed out that buyers will often estimate that a necessary renovation will cost four times as much as the real price for the job.

This is important advice, because your real estate investment will be worth more if you put money into upkeep. It's also somewhat subjective to decide what needs renovating, so play it safe and replace any part of your home that's damaged. Studies also show that certain features are worth more than others. A pool or a gazebo are least likely to increase your property value, whereas a renovated kitchen and bathroom will increase your property value the most.

Then of course there are the more affordable improvements that increase curb appeal, such as a fresh coat of paint on both your interior and exterior walls, or just a bit of attention and care to your landscaping. Aside from those cold hard appraisals, buyers are more likely to make a good offer if your home looks attractive, and that is also subjective, which is why it's always a good idea to put some effort into it. Even if your aesthetic isn't the buyer's favorite, it will be obvious that care and attention has gone into the home. That's why they will feel that it's more valuable.

Hopefully, you've got some good ideas going about the kind of work you need to do on your home before you sell. If you're not sure, it's always a good idea to get an outside opinion. Some of us get so comfortable and used to our homes that we don't see it objectively. Ask a close friend or someone you trust for some suggestions.

That's it for this week! If you need assistance, you'll find our contact information at the bottom of the page. Mahalo for reading!

MartinOnMaui.com - By Martin Hauen-Limkilde

Hawaiian Electric Not Raising Rates

There's been a lot of buzz around Hawaiian Electric Co. (HECO) and their efforts to incorporate renewable energy sources into their grid, but it wasn't until their regulatory schedule provided the opportunity to hike up rates that the state discovered whether those efforts were really going to benefit us. The utility company passed on the chance to raise rates on its customers. Instead, they're plowing forward to minimize energy costs for Hawaii residents by continuing to reduce dependency on imported oil.

The main factor that makes Hawaii's energy expensive is imported oil, which costs a lot even when you don't have to ship it across the ocean. By reducing our dependency on this, HECO aims to prevent an increase in energy rates for its customers. In fact, they aim to drop those rates. If you're a prospective Maui home buyer or resident, this should mean a lot to you.

HECO is pursuing more renewable energy, modern smart grids and lower-cost liquefied natural gas. In a U.S. Securities and Exchange Commission filing, the company described its plan to develop and execute the new business model, plans and strategies required by the Hawaii Public Utilities Commissions rulings in April. They also included their other plans to reduce rates.

State regulators are also pushing HECO to work more aggressively to meet these ends by responding to emerging renewable energy integration challenges, with a particular emphasis on improving interconnectivity for rooftop solar energy systems.

As for those who are skeptical about the actual value solar and other renewable energy sources, there's nothing that can't be solved there with improvements in the technology used to harvest it. All one has to consider is the technological advancements that we've seen in other major industries and the incredible volume of investment going into renewable energy development. No technology is perfect, but there are improvements every day.

For now, we can look forward to some big changes in Hawaii's utilities in the coming years, and they look mighty promising. It's a subject of major interest in our community, and many North Maui real estate owners have installed solar panels on their homes. One of our great advantages here in Hawaii is the weather. We enjoy steady winds and sunny skies on the vast majority of days out here in the Pacific, and we wouldn't have it any other way.

Mahalo for reading this week!

MartinOnMaui.com - By Martin Hauen-Limkilde