It’s natural for those considering a Maui real estate purchase to keep an eye on the economy. Although home appreciation is very high in Hawaii, it’s important to feel a sense of security in the economy as a whole before making a real estate investment. A changing economy can cause appreciation to change. On that note, The Wall Street Journal recently published an encouraging story.
Morgan Stanley sent its top stockbrokers and their spouses on a vacation to West Maui as a reward for their productivity. As West Maui real estate specialists with a vacation rental branch in the same area, you can imagine why this is particularly validating, not only for us, but for those buying real estate and vacationing in this part of the island.
This is the first time Morgan Stanley has provided a recognition junket outside the continental U.S. since the federal bank bailouts, because such trips were considered extravagant in those trying times. Now that Morgan Stanley, among others, is showing such strong performance and progress, Maui trips are no longer out of reach.
If you consider Hawaii incentive trips on a larger scale, statistics show that they were at their lowest in 2009, with only 70,003 visitors. It may seem like a high number, but it isn’t, especially when you consider that 112,783 visitors had come to Hawaii on incentive trips the year before. That was a 38 percent plunge from one year to the next.
Incentive trips aren’t just for those employed by Morgan Stanley. The Hawaii Tourism Authority’s 2012 annual visitor research report revealed that incentive travel was up to 103,837 visitors from a variety of industries that year, which was a 7.3 percent increase compared to the year before. The report for 2013 hasn’t been published yet, but it is likely to reveal another increase in incentive travel.
We hope you’ve found this informative, and if you require any assistance with your West Maui real estate search, you’ll find our contact information at the bottom of the page. Mahalo for reading!
mauiluxuryrealestateteam.com – By Robert J. Cartwright, Principal Broker