374 Kualono in Wailea Pualani has come on the market and is asking $2.395 million. This home has 2795 square feet with an infinity pool, ocean view and five bedrooms. A wonderful home. Contact us for more information.
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The Department of Commerce announced today that in the fourth quarter of 2006, Gross Domestic Product, the broadest gauge of economic activity, grew at a remarkable 3.5%.

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And we mean UP!

According to the experts

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250 acres of the Poli Poli forest on Haleakala continue to burn and this morning we could see flames leaping above the treeline for the whole story click here.

In today's Honolulu Advertiser, the headline reads "Tourism Remaining Steady."

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A colleague sent us a fascinating article from New West today. In it the author cites a number of major trends that make Aspen real estate expensive today and likely more so tomorrow. Here's a snippet:

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KEALI`I REICHEL , singer, songwriter and keeper of Maui's cultural flame returns to the Maui Arts and Cultural Center on February 9th and 1oth. Reichel will be leading his halau in traditional chants and hula in addition to his warm and uplifting music. His enthusiasm, passion and committment to his heritage and his home comes through in his lyrics and his voice. His shows the last few years have been nothing short of sensational. Don't miss this.

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This week, 3147 Noho Lo'ihi in Wailea Pualani closed for $1.9 million after being listed for $1.995 million for only 65 days. This shows that for a well-priced home, demand is still there for Wailea/Makena homes. The first Kai Malu resale has gone into escrow. These are 1800 square foot residential condominiums with garages with a duplex architecture. The unit in escrow has many upgrades and a nice ocean view. It was listed for $2.1 million and had been on the market only three weeks. One of the big draws of Kai Malu will be the pool area. Just look at this view!
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Just prior to Christmas, Wailea condominium inventory for sale stood at just below 85 units for sale. As of today, there are 107 units for sale, a more than 25% increase in a month. That does not include the resales now available in complexes like Kai Malu and Kanani Wailea. If one includes those, inventory is more like 112-115 units for sale. At 2006 absorption rates, that represents almost exactly one year's worth of inventory. Since January 1, only two Wailea condominiums have gone into escrow, compared to thirteen a year ago in the same period.

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Investment banking giant Morgan Stanley is buying CNL Hotels and Resorts, owner of the Grand Wailea Resort and Spa, for $6.6 billion.

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