Here is the complete report. In summary believes that due to the major slowdown in construction and the decline in oil prices that the Federal reserve will begin lowering rates in March 2007 and continue into 2008.

At a Wailea Community meeting on Thursday, it was announced that the St. Regis’ desire to tear down the Rennaissance Hotel in Wailea has been delayed, and probably will not happen until April of 2007.

A partnership led by Ron Allred, co-developer of the Telluride Resort, has purchased a 51% interest in the Wailea Blue Golf Course. The course will be renovated to some degree with possibly a nineteenth hole built to enable that process. It is expected that the course will be partially privatized and that a new clubhouse will be built at the location of Matteo’s Restaraunt on Wailea Ike.

The Maui County Council is considering a proposal whereby most new developments be required to provide 40-50% of the unit for affordable housing or to pay $190,000 fee per unit built. Mayor Alan Arakawa has come out against the proposal which would undoubtedly crimp ongoing development and thus probably create upward pressure on the price of the existing housing stock on the island.