Bankruptcy Filings Decrease in November 2014

According to a report issued by the U.S. Bankruptcy Court, there were only 128 filings during the month of November 2014.  This represented a decrease of 13.5 percent as compared to the same month a year prior Jack Suyderhoud, professor of business economic at the University of Hawaii at Manoa Shidler College of Business and an adviser to First Hawaiian Bank, commented, "Bankruptcies tend to track the economy, so it's not surprising that it's down when the economy is improving, which in terms of the labor market certainly has been the case. When you look at the GDP (gross domestic product) for the U.S. as a whole, 2014 is going to end up pretty good despite the weak start at the beginning of the year. To me it's not a surprise that bankruptcies are going down in this part of the business cycle. The data we're getting on the overall economy is pretty strong. The big question is how this will carry over into 2015 given weakness in Europe and Asia and the strength of the U.S. dollar."

Source: Honolulu Star Advertiser, 12-17-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Bankruptcy Filings Decrease by 18.5 Percent In August 2014

According to a report issued by the U.S. Bankruptcy Court, a total of 137 cases were filed in August, which represented an 18.5 percent decrease as compared to the same month a year prior.  This marks the 14th straight month of decline on a year-over-year basis.  George Dunn, a Honolulu bankruptcy attorney, commented, "It appears the economy is improving right now and the federal government is doing a lot of things to help that in terms of keeping interest rates low. Jobs are a little bit better now than in the past and people are being more careful in creating less debt. I'm working less than 40 hours a week. It's kind of a good thing for me because I needed a break. It's kind of slowed down the last 15 or 20 months. Between the period from 2009 to 2011, I was working 80 to 90 hours a week, and I'm still recovering."

Dunn added, "The federal government might be creating a bubble. With the Federal Reserve keeping interest rates low for the foreseeable future, it looks like this (declining bankruptcy trend) could go on for one or two more years. I've been doing bankruptcies since 1988 and have been through these cycles over the years where the economy goes up and falls apart and then goes back up. So I'm expecting another crash. I don't know when it's going to be, maybe one or two years from now, but I'll be ready."

Source: Honolulu Star Advertiser, 9-3-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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State Bankruptcy Filings Down 27.5 Percent in May 2014

According to a report issued by the U.S. Bankruptcy Court, there were a total of 150 bankruptcy court cases filed in May 2014.  This represented a 27.5 percent decrease as compared to the 207 cases filed during the same month a year prior.  Blake Goodman, a bankruptcy attorney in Honolulu, commented, "This recovery that is in place has got some teeth to it, and it's especially being played out in Hawaii. The tourism numbers are very solid. The unemployment in Hawaii is among the lowest in the country (4.4 percent). You just have to look out any window on the town side and see 11 or so cranes in the area to see that the economy has been percolating. I've been doing this about 24 years in three different states, and I've never seen such a significant downturn in bankruptcy filings."

During there first five months of 2014, there have been 746 cases filed in Hawaii.  This is a 20.6 percent decrease as compared to the 940 cases that were filed during the first five months of 2013.

Source: Honolulu Star Advertiser, 6-3-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Bankruptcy Filings Continue to Decline in April 2014

According to a report issued by the U.S. Bankruptcy Court, there were a total of 162 bankruptcy filings in the state of Hawaii in April 2014.  This is a decrease from the 206 filings that were submitted during the same month a year prior, and marked the 10th consecutive month of fewer bankruptcies on a year-over-year basis. Honolulu County saw a 18 percent decrease with just 99 cases in April.  Maui County had a 55 percent decrease to just 25 cases.  Hawaii (Big Island) had a 30 percent increase to 26 cases, and Kauai County had a 20 percent increase to 12 cases.

Source: Honolulu Star Advertiser, 5-3-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
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Only 163 Bankruptcy Cases Filed in March 2014

According to the U.S. Bankruptcy Court, a total of 163 bankruptcy cases were filed in March 2014, a significant decrease from the 200 cases that were filed during the same month a year prior.  In Honolulu County, there were a total of 106 cases in March, a decrease of 12 percent from March 2013.  Hawaii County (Big Island of Hawaii) had 21 cases, a 25 percent decrease. Maui County had 32 cases, a 27 percent decrease.  Kauai County had a 50 percent decrease from 8 cases to just 4 in March 2014.

Source: Honolulu Star Advertiser, 4-3-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Bankruptcy Filings Decrease in February

According to a report issued by the U.S. Bankruptcy Court, there were a total of 149 bankruptcy filing in the state of Hawaii for February 2014.  This was an 11 percent decrease from the some month a year prior, and was the eighth consecutive month with lower comparable bankruptcies. Honolulu Country recorded a total of 92 bankruptcies in February, a decrease from the 106 that were filed a year prior.  Hawaii County (Big Island) had 22 cases, a decrease from 27 a year prior, and there were seven cases in Kauai, a decrease from the eight that were recorded in February 2013.  Maui County that saw an increase, but even then a statistically insignificant one, with 28 filings in February 2014 as opposed to the 27 filed during the same month a year ago.

The state of Hawaii's Department of Labor and Industrial Relations credit the lower number of bankruptcies to a strengthening job growth and a declining unemployment rate.

Source: Honolulu Star Advertiser, 3-4-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Number of Bankruptcy Cases Lowest in Six Years

According to a report issued by the U.S. Bankruptcy Court, the number of bankruptcy filings dropped to 122 cases in January 2014.  This represented a 23 percent decrease from the same month a year prior and was the fewest number of cases filed since January 2008. Honolulu County had a total of 89 cases from 100 cases the same month a year prior, while Maui County had 13 cases (down from 30) and Kauai County had four cases (down from 13). Hawaii County (Big Island of Hawaii) was the only county where bankruptcy filings did not fall, but rather held steady at 16 cases.

In related news, Credit Karma, a credit-scoring website, has noted that the average credit card debt in Hawaii decreased to $5,338 in December 2013.  This was a 19 percent decrease from the same month a year prior. Hawaii residents also held the highest average credit score in the nation at 662.

Source: Honolulu Star Advertiser, 2-4-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Bankruptcy Cases in 2013 Falls to Lowest Level in Six Years

According to a report issued by the U.S. Bankruptcy Court, there were a total of 2,071 bankruptcy filings in 2013. This was a significant 18 percent decrease from the 2,528 cases that were filed in 2012 and the fewest number of cases filed since 2007.  Industry experts are attributing the few bankruptcy filings to a stronger job market and lower consumer credit card debt.  Credit Karma, a personal finance company, has noted that Hawaii Consumers had an average credit card debt of $5,257 in November 2013, as compared to the $6,451 average credit card debt in November 2012.

Source: Honolulu Star Advertiser, 1-7-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Hawaii Bankruptcy Filings Lowest Level in 6 Years

According to the U.S. Bankruptcy Court, the number of bankruptcy filings in November 2013 dropped to the lowest level in nearly six years.  A total of 148 cases were filed in November, a 30 percent decrease from the same month a year prior.  Honolulu County had 98 cases filed or a 23 percent decrease.  Hawaii (Big Island) County had 23 cases filed, or a 21 percent decrease.  Maui County had 24 cases filed, or a 47 percent decrease.  Kauai County had three cases filed, as compared to nine filed in November 2012.  

In related news, according to Credit Karma, a personal finance company, Hawaii residents reduced their credit card debt to an average of $5,500 for the month of October as compared to $6,474 during the same month a year prior.  Hawaii residents had an average credit score of 664, which is the highest average for all 50 states.

Source: Honolulu Star Advertiser, 12-3-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Bankruptcy Filings Decrease in October 2013

According to the U.S. Bankruptcy Court, there were just 167 bankruptcy filings for the state of Hawaii in October 2013.  This was a decrease of 27 percent from the same month a year prior.  The island of Oahu had 108 of those cases (a 19 percent decrease) while Hawaii County (Big Island) had only 14 cases (a 55 percent decrease).  Maui had 35 cases (a 36 percent decrease) while Kauai Couty had a 10 cases (a 9 percent decrease).

In related news, according to Credit Karma, a personal finance company, Hawaii residents reduced their average credit card debt to $5,327 in September 2013 as compared to an average of $6,650 during the same month a year prior.  While the state of Hawaii has the second highest average credit card debt, Hawaii residents have an average credit score of 664, which is the highest of all 50 states.

Source: Honolulu Star Advertiser, 11-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Bankruptcy Filings Decrease in September 2013

According to the U.S. Bankruptcy Court, there were only 153 filings in September 2013.  This represents a 4.4 percent decrease from the same month a year prior and the lowest amount of cases since February 2008 when 141 cases were filed. Honolulu County saw a 15.3 percent decrease with only 94 filings.  Hawaii County (Big Island) saw only 15 filings, a decrease of 16.7 percent from a year prior.  Maui County saw an increase of 28 percent, or 32 filings.  Kauai County had 12 cases in September, twice as many as the six cases that they had during the same month in 2012.

In related news, according to personal finance company Credit Karma, Hawaii residents reduced their credit card debt to $5,235 in July 2013 from $7,142 in July 2012.  The state of Hawaii still has the highest average credit score in the country, tied with Washington D.C. at approximately 666 FICO.

Source: Honolulu Star Advertiser, 10-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Bankruptcy Cases Decrease By 19 Percent in August 2013

According to the U.S. Bankruptcy Court, the number of bankruptcies filed in August 2013 decreased by 19 percent as compared to the same month a year prior.  The report stated that there were just 168 bankruptcies filed in August, a decrease from 208 filed in August 2012. Oahu had a total of 111 filings, Maui County had 33, Hawaii (Big Island) County had 14 cases, and Kauai County had 10 cases.  Experts note that the decline in the number of bankruptcy cases is a direct result on the improving job market and the reduction of consumer debt loads.

Source: Honolulu Star Advertiser, 9-4-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Hawaii Bankruptcy Filings Decrease In May 2013

According to the U.S. Bankruptcy Court, the number of bankruptcy filings in the state of Hawaii decreased to 207 cases in May 2013. This represented a 5.5 percent decrease from the same month a year prior and was also the 26th straight month of decreases in bankruptcy filings for the Hawaiian Islands. Local economist, Paul Brewbaker, commented that this was a sign of continued economic recovery. In terms of the exact breakdown, there were 157 Chapter 7 liquidation cases, 49 Chapter 13 cases, and one Chapter 11 reorganization case.

Source: Honolulu Star Advertiser, 6-4-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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Hawaii Bankruptcy – Cases Drop in April 2013

According to a report released by the U.S. Bankruptcy Court, the number of bankruptcy cases in Hawaii decreased in April 2013 to just 206 cases filed statewide. During the same month a year prior, a total of 264 cases were filed. Honolulu had a total of 121 cases filed, or a 23 percent decrease. Hawaii County had only 20 cases, or a 56 percent decrease. Kauai County had 10 cases, or a decrease of 29 percent. Maui County was the only county that saw an increase in cases filed with 38 total cases. This represented a 45 percent increase in cases for Maui County as compared to the same month in 2012.

Source: Honolulu Star Advertiser, 5-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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Bankruptcy News – Filings Decrease in March 2013

According to data released by the U.S. Bankruptcy Court, there were a total of 200 cases filed in March 2013. This wad a significant decrease from the 267 cases that were filed during the same month a year prior. Honolulu County noticed a 26 percent year-to-year decrease with 121 cases, while Hawaii (Big Island) County experienced a 38 percent decrease with only 28 cases. Kauai County only had 8 cases, or a 33 percent decrease, while Maui County had an 8 percent decrease with 43 cases.

Source: Honolulu Star Advertiser, 4-3-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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Maui Real Estate – Lehman Brothers Plans to Sell Ritz-Carlton Kapalua

The Lehman Bros. Holdings Inc. has announced that they would be interested in selling the Ritz-Carlton Kapa­lua hotel on Maui sometime over the next few months. Lehman Brothers had helped to finance the resort before the owners filed for bankruptcy in 2008. Lehman Brothers gained control of the property after foreclosing on the loan. The hotel is located on a 54 acre resort and features a total of 463 guest rooms and suites. There are also six restaurants, a spa, and two championship golf courses on the property. Real estate experts believe that Hawaii’s improving tourism market and higher hotel occupancy rate is encouraging Lehman Brothers to liquidate this holding.

Source: Honolulu Star Advertiser, 3-6-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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Fewer Bankruptcy Cases in February 2013

According to the U.S. Bankruptcy Court, District of Hawaii, there were a total of 168 bankruptcy cases filed in February 2013. This was a 25% decrease from the 224 cases that were filed during the same month a year prior. Honolulu County experienced a 17 percent decrease with just 106 cases. Hawaii (Big Island of Hawaii) County had a 53 percent decrease with just 27 cases. Maui County had a 43 percent decrease with just 27 cases. Kauai County had a 39 percent decrease with just 8 cases.

In related news, Credit Karma noted that the average credit card debt outstanding in Hawaii decreased by 12 percent in January 2013 to $6,651. Hawaii has the second highest average credit card debt outstanding in the nation. However, residents in Hawaii have the second highest average credit card score at 673.

Source: Honolulu Star Advertiser, 3-1-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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Hawaii Bankruptcy – Numbers Fall for 23rd Consecutive Month

According to a report released by the U.S. Bankruptcy Court, the total number of bankruptcy cases in Hawaii were just 159 for the month of January 2013. This represented the 23rd consecutive month of lower numbers filed in bankruptcy court. Honolulu County had a total of 100 filed in January, a 28 percent from the same month a year prior. Hawaii County (Big Island of Hawaii) had 16 cases, a decrease of 33.3 percent from January 2012. Maui County had 30 cases, a decrease of 18.9 percent. Kauai County was the only county to experience an increase from a year prior of 13 cases up from 12 cases.

In related news, there has also been a decrease in the amount of credit card debt that Hawaii residents carry. According to Credit Karma, Hawaii residents carried an average of $6,620 in credit card debt in December 2012, which was a 12 percent decrease from the same month a year prior. Credit Karma also noted that Hawaii had the highest average credit score at 668.

Source: Honolulu Star Advertiser, 2-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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Hawaii Bankruptcy – Filings Decrease by 24 Percent in 2012

According to the United States Bankruptcy Court, there were a total of 2,528 bankruptcies filed in Hawaii for 2012. This was a 24 percent decrease from 2011 when 3, 325 cases were filed, and the lowest number since 2008. For the month of December, Honolulu County saw a decrease of 28 percent from the same month a year prior, while Maui County saw a 43.5 percent decrease and Kauai County a 33.3 percent decrease. In related news, Credit Karma reported that the amount of average credit card debt in Hawaii decreased to $6,451 in November 2012, which was a 12.7 percent decrease from the same month a year prior. Hawaii residents had the highest average credit score in the nation at 667.

Source: Honolulu Star Advertiser, 1-4-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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Hawaii Bankruptcy – Filing Down in November 2012

According to the U.S. Bankruptcy Court, District of Hawaii, there were a total of 211 new personal and business bankruptcy filings in November 2012.  This was a decrease of 12.8 percent as compared to the same month a year prior and represented the 21st consecutive month of decrease in bankruptcy filings for the state.  Out of these 128 were filed in Honolulu County, a decrease of 7.2 percent, 45 were filed in Maui County, a decrease of 18.2 percent, 29 were filed in Hawaii (Big Island) County, a decrease of 17.1 percent and 9 were filed on Kauai, a decrease of 35.7 percent.

Source: Honolulu Star Advertiser, 12-4-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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