Economically speaking, that was the primary message from Paul Brubaker this past week as he presented an economic update to the general membership of the Kauai Board of Realtors…”short of an Iniki-like event” the indicators IN PAUL’S OPINION are not pointing to a double dip and that any focus on that is primarily driven by media sound byte marketshare.
The Poipu Beach Resort Association just released recent visitor arrival data which is another critical indicator to our real estate market and overall island economy. The month of June 2010 realized a 5.8% increase from June 2009 in Kauai visitor arrivals. The Kauai ONLY travelers increased by 4.5%. O’ahu saw the largest increase at 18.5% for the period comparison but O’ahu saw the most drastic decreases in these past few years with a lot more ground to make up than Kauai did.
When property values are on a downward trend and we then see an uptick in visitor arrivals…we have the makings of a new leading edge trend. For all you econ majors or tourism buffs who would like me to send you the complete Brubaker presentation or the Poipu Beach Resort Association’s complete newsletter for your ruminative pleasure, just email me and I will pass it along!