Select News Stories from December 2022
Hawaii Receives Over $300 Million in Funding for Capital Projects
Hawaii released $306.8 million for various capital improvement projects, including funding for the expansion of public school facilities, the renovation of bridges on Hana Highway, and the design of a new south TSA checkpoint at the Kahului Airport. The funds released also covered statewide efforts, including a $20 million cash infusion into the Dwelling Unit Revolving Fund to finance the construction of affordable housing projects statewide, $20 million to finance minor capital improvement projects at University of Hawaii community colleges, $16 million for program support improvements of existing or new school facilities and $1.2 million for multiple transit-oriented development projects in Neighbor Island counties. This will help to improve the quality of life for all residents in the state. Learn more about the funds.
New Governor Green Inaugural Ceremony
Newly-elected Governor Josh Green pledged to take immediate action to help end homelessness and provide affordable housing, among other goals, during his inauguration ceremony. He vowed to address homelessness and housing, asking the Legislature to help eliminate the state’s tax on food and medication while encouraging the construction of more housing for residents. Gov. Green vowed to promote renewable energy projects such as wind, solar, and geothermal power because past governors had already approved them, and he wants to ensure they are being met. Read more about the ceremony.
West Maui Highway Improvements In Planning
The Department of Transportation (DOT) recently announced improvements for a highly used coastal highway. They’re hoping to fix the damages done by nature in this particular stretch of road between Ukumehame and Launiupoko. The DOT says that there will be significant changes made due to seasonal high surf, king tides, and water runoff from storms – all causes for which are predicted to increase when it comes to sea level rise. Because of these predictions and what is already happening now, they propose fixing the section from Mile Post 11 near Ukumehame Beach up until Mile Post 17 just north of Lahaina Town where it meets up with another bypass road heading back inland. Learn about the West Maui highway improvements.
Hale Pono Youth Shelter to Open in Wailuku in the Spring
A new Maui shelter offering safe short-term living space for teens until they can be reunited with their families or find other supportive living arrangements is expected to open in Spring 2023. Renovations are underway or the two-story, 7,100-square-foot Hale Pono Youth Shelter, which will be open to youth of all genders, ages 12 to 17, who are dealing with emotional or behavioral problems, truancy, domestic violence, trauma, or other challenges. The shelter is a program offered by the Teran James Young Foundation.
Realtor’s Association of Maui Statistics for November
Sales fell from last month and prices rose, which is currently at $1.056M per median single family house price. The National Association of Realtors reports that the monthly mortgage payment for a typical U.S. homebuyer has increased by more than 55% in the past year – this is due to the combination of an increase in housing costs and rising interest rates. These two trends seem to be following mainland real estate markets. Read more from RAM’s (Realtor’s Association of Maui) Latest statistics.
West Maui Market Update
We offer many educational resources so that you can stay up-to-date with Maui Real Estate. If you are considering buying or selling in Lahaina or Kaanapali, take a look at the following West Maui market report.