Hawaii Real Estate – Mayor Signs Bill Making Smoking Illegal on Major Beaches

Honolulu Mayor Kirk Caldwell has signed Bill 72 (2012) into law, which makes it now illegal to smoke at Sandy Beach Park, the Duke Paoa Kaha­na­moku Beach Park, Kuhio Beach Park and three sections of Kapiolani Park. Under the law, violators would be subject to fines of up to $100 for a first offense, $200 for a second violation within 12 months and $500 for subsequent offenses. However, the actual enforcing of the law would have to wait until the Honolulu City Council creates another bill to allow the city from prohibiting smoking on state property, which most of those beaches are on. City Council members vow to make that change quickly.

Mayor Caldwell stated, “I believe it’s the right thing to do from a health point of view. I believe it’s the right thing to do from an environmental point of view.” Caldwell added that a beach smoking ban may also enhance the visitor experience as opposed to discouraging them from coming to Hawaii. City Councilman Ikaikai Anderson had hoped to apply the no-smoking ban to all city parks and beaches. However, other council members stated that they would prefer to wait until all see the public’s reaction to these initial beach parks prior to including the entire island of Oahu.

Source: Honolulu Star Advertiser, 4-9-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
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Hawaii Real Estate – Sales Data for Oahu in March 2013

Source: Honolulu Board of Realtors

Single Family Home Sales on Oahu
March 2013 – 231 Houses Sold – $640,000 Median Price
March 2012 – 222 Houses Sold – $625,000 Median Price

Condominium Sales on Oahu
March 2013 – 411 Condos Sold – $340,000 Median Price
March 2012 – 338 Condos Sold – $311,750 Median Price

Source: Honolulu Star Advertiser, 4-9-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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Big Island of Hawaii Real Estate – Sales Data for March 2013

Source: Hawaii Information Service

Single Family Home Sales for the Big Island of Hawaii
March 2013 – 139 Homes Sold – $270,000 Median Price
March 2012 – 161 Homes Sold – $215,000 Median Price

Condominium Sales for the Big Island of Hawaii
March 2013 – 54 Condos Sold – $310,750 Median Price
March 2012 – 52 Condos Sold – $309,950 Median Price

Source: Honolulu Star Advertiser, 4-6-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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Kauai Real Estate – Sales Data for March 2013

Source: Hawaii Information Service

Single Family Home Sales for Kauai
March 2013 – 36 Homes Sold – $491,250 Median Price
March 2012 – 32 Homes Sold – $491,500 Median Price

Condominium Sales for Kauai
March 2013 – 26 Condos Sold – $360,000 Median Price
March 2012 – 23 Condos Sold – $285,000 Median Price

Source: Honolulu Star Advertiser, 4-6-2013, 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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Hawaii Real Estate – Hawaii Pacific University to Proceed with Aloha Tower Makeover

Hawaii Pacific University has announced that they have resolved their dispute with real estate developer Ed Bushor and will now be able to proceed with their plan to spend $34 million to completely makeover the Aloha Tower Marketplace. Bushor had previously filed suit against HPU and stated that the university had fraudulently seized control of the retail center. The exact terms of the settlement between HPU and Bushor have not been released, but both sides agreed to moving on and Hawaii Pacific University now has full ownership rights and management rights.

HPU has announced that they would like to add student housing, classroom space, a sports and entertainment complex, additional parking and new retailers and restaurants to the Aloha Tower Marketplace. The school’s President, Geoffrey Bannister, stated, “This project holds great potential, not only for Hawaii Pacific University, but also for downtown Honolulu and for everyone who believes that Aloha Tower Marketplace can be the downtown jewel that so many have hoped it would become.” Bannister hopes to have the student housing available for occupancy in the fall of 2014.

Source: Honolulu Star Advertiser, 4-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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Hawaii Tourism – Mokulele to Increase Service Between Kapalua and Honolulu

Mokulele Airlines has announced that they will be increasing their service between Kapalua airport in West Maui and Honolulu to seven round-trip flights per day. CEO of the airlines, Ron Hansen, stated that Mokulele was planning on increasing the frequency of their service, even before Island Air announced on March 22nd that they their last flight between Honolulu and Kapalua would be on May 31, 2013. Hansen stated, “We felt by increasing the frequency (to Kapa­lua) we’d capture more business. It was planned a couple months ago. It’s fortunate that we planned to do this when we did. The fact that they (Island Air) are pulling out is too bad after all these years Local passengers love the (Kapa­lua) flight, and the service and load factors (percentage of capacity ) were high enough to warrant having additional flights. We’re running a 75 to 80 percent load factor.”

However, Hawaiian Airlines has announced that they will be adding a turboprop operation by end of summer under the name ‘Ohana, which would initially offer service to Lanai and Molokai and eventually Kapalua. Ron Hansen of Mokulele expressed his concern that if Hawaiian enters that route, it would be challenging to compete with such a relatively large company. Hansen stated, “We’re like an ant compared to them (Hawaiian Airlines).”

Source: Honolulu Star Advertiser, 4-2-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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