Blog Detail
The Tipping Point
Last week we talked about the surge in Maui real estate sales volume during 2010. This week, we’d like to take a look at a few of the underlying factors that might have driven this surge. First and foremost, if you’ve visited Maui, then you know what a unique place it is.
Maui is a place where people want to live and retire. Maui, along with Hawaii County, has led population growth for Hawaii. Between April 2000 and July 2009, Maui’s population expanded by 13.3% from 128,094 residents to 145,157 residents.*
Maui is a place that draws visitors back again and again. Eventually some of these visitors choose to become owners of Maui Real Estate. Take a look at this table released by the Department of Business, Economic Development and Tourism.
Between January 2010 and November 2010, 6,358,844 visitors came to Hawaii (by air), and 1,904,904 (30%) of those visitors made their way to Maui. A small (seemingly minute) percentage of those 1,904,904 visitors chose to buy Maui Real Estate. Although this percentage was small; the effect was felt in a large way (what Malcolm Gladwell termed “The Tipping Point.”)
We believe we’ll see the Maui Real Estate market continue to “tip” in 2011. We hope you’ll be one of the tippers.
Mahalo Nui Loa,
The Smith Team
P.S. If the whales and beautiful beaches aren’t enough to get you to Maui, then hopefully Elton John will. He’ll be performing at the Maui Arts and Cultural Center (MACC) on Saturday, February 25th, 2011. Tickets go on sale today for MACC members and January 15th for the general public.
*Taken from the census. Learn more.