Highlighted News Stories From Maui, Early October 2022
Maui County Council Moves To Create Managed Retreat Fund To Help Shoreline Property Owners
The Maui County Council’s Planning and Development Committee is moving forward with a plan to create a separate fund to address managed retreat along the shore in light of climate change impacts like coastal erosion. From fiscal year 2023, the transient accommodations tax fund would generate approximately $60 million and 20% would be used for “shoreline safety improvements.” The new fund could be used for pushing development inland from the coastline through the physical relocation of existing structures and infrastructure; removing or relocating structures and infrastructure that threaten public health or the environment; financing programs and permitting; and leveraging funds from federal, state, nonprofit, or for-profit organizations, as well as other non-county entities. Read more about the fund at:
https://www.mauinews.com/news/local-news/2022/10/fund-would-cover-costs-of-managed-retreat/
Maui County Will Get Four Electric Vehicle Charging Stations In The Next Five Years
The state is pushing for a zero-emission clean energy economy by 2045, and Maui County will receive four electric vehicle charging stations in the next five years. The new National Electric Vehicle Infrastructure program will include 11 electric vehicle charging stations in Hawaii, including two on Maui, one on Lanai, one on Molokai, and one in Kaunakakai. On Maui, two charging stations will be installed in Wailuku and Hana, one will be installed in Lanai City, one will be installed in Kaunakakai on Molokai, one will be installed on Oahu and Kauai, and the remaining five will be installed on Hawaii Island. Ed Sniffen, deputy director of highways at DOT, noted that the plan includes strategically placing chargers in accessible and safe locations. Read more about the initiative at:
https://www.mauinews.com/news/local-news/2022/10/charging-stations-planned-for-county-amid-ev-push/
August Tourism Decreased from Pre-Pandemic but Spending Increased
A recent report from the Hawaii Tourism Authority and the state reported that 265,410 individuals visited Maui last month and spent $472.9 million ($7.68 million). Wait times were also down, thanks to the efforts of airport officials. The decline from 273,638 visitors in August 2019, at the outset of the pandemic, was three percent, while spending increased 16.9 percent from $404.7 million in August 2019. A decline was also seen in June and July, with 288,333 and 304,878 visitors, respectively. Economists are hoping that the Japanese economy will help keep Hawaii afloat should the U.S. enter a recession because if the U.S. enters a recession, Mainland visitors will likely cut back on travel in an effort to save money as a result of high inflation and rising personal expenses. Learn more about the visitors to Maui:
Drought Conditions Continue to Worsen in Maui County as the Wet Season Begins
The wet season has begun, and Maui County still has some of the worst conditions in the state, with exceptional drought – the highest category – in the central valley and severe drought, a step below it, covering most of leeward Molokai from Kaunakakai to Laau Point, portions of Central Maui, the lower Upcountry region, and the southern end of Kahoolawe. Heavy rains in recent weeks have helped to offset widespread drought in Upcountry and South Maui, although Maui County still has some of the driest areas in the state as the wet season begins. As a result, the Maui County Department of Water Supply has requested water conservation by those living in Upcountry and West Maui, where surface flows have been low. Learn more about the drought conditions:
Realtors Association of Maui (RAM) September Housing Data
According to the Realtors Association of Maui’s September real estate data, the median price for single-family homes sold was $1,025,000, up 3.0% from the previous year. RAM reports that Maui County’s real estate market slowed down in September as the number of closed and pending sales declined while inventory and days on the market increased. The number of home sales dropped 50.4% last month, with just 57 closings. In the condo market, the median price was $800,000, a 9.7% jump from the previous year; sales totaled 97 units last month, down 46.7% from the year before when 182 units were sold. Read more about the recent statistics:
https://www.mauinews.com/news/local-news/2022/07/plug-pulled-on-28-unit-affordable-project-in-kihei/
Developer Holds Community Meetings About Koa Waena Affordable Housing Project
Developer Peter Savio is holding community meetings this weekend to inform residents about his Koa Waena affordable housing project in Kīhei. Savio plans to start construction on the project later this year. The new rural subdivision will have approximately 500 homes with 5,000 square foot lots, which will be sold for approximately $200,000 per lot. The houses will be priced from $200,000 to $250,000 for a total cost of $400,000 to $450,000. Read more about the new development at: