A national economic research firm predicts that the median price of Honolulu homes will drop by about 31 percent, the Honolulu Advertiser reported.

Publication: KITV4 ABC: Top Stories
Date of Publication: January 20, 2009
Article URL: http:/ / www.kitv.com/ news/ 18520327/ detail.html

Comments by Sachiko

Honolulu Board of Realtors research economist Harvey Shapiro said the projection is "absolutely ridiculous."   Hawaii market is so unique and cannot be simply predicted from what's happening in the US mainland.  However, it is predicted that the prices could go down by 3 to 5% this year by some experts in Hawaii.

Based on lower forecasts for the U.S. and key international economies in the coming months, the Department of Business, Economic Development & Tourism (DBEDT) is forecasting virtually no growth in Hawaii's economy through most of 2009. Assuming national growth turns positive around midyear 2009, Hawaii's economy should begin seeing some improvement later in that year and modest growth in 2010.

Publication: DBEDT
Date of Publication: November 18, 2008
Article URL: http://hawaii.gov/dbedt/info/economic/data_reports/info/economic/data_reports/qser/outlook-economy

Comments by Sachiko

Of course, the forecast depends on growth of the U.S. economy and key international economies such as Japan.  The article also forecasts the visitor arrivals and visitor days for 2009 are now projected to decline 1.9 percent and 1.7 percent, respectively, while visitor expenditures are forecast to increase 0.7 percent from 2008.

Although the economy here and across the country continues to slump, Kapolei is a "growth hot spot" that could help stabilize the state's economy, according to economist Leroy Laney...The region's population will grow from 85,000 now to about 172,000 in 2025, which Laney said would be more than the current populations of Maui or Hawai'i counties. Jobs are expected to nearly triple over the same time to nearly 70,000, he said.

Publication: honoluluadvertiser.com
Date of Publication: April 8, 2008
Article URL: http:/ / www.honoluluadvertiser.com/ apps/ pbcs.dll/ article?AID=/ 20080408/ BUSINESS/ 804080322/ -1/ BACKISSUES

The Federal Reserve and the Bush administration are trying to rescue a faltering economy with steep interest-rate cuts and a whirlwind $161 billion economic stimulus package. But several local stock experts aren't convinced that the urgent measures will stop the bleeding. Participants in the seventh annual Star-Bulletin survey of best investment ideas aren't expecting too much from the market in 2008. They see it remaining volatile and lackluster with the housing sector continuing to slump. Two of the experts see better investments abroad.

Publication: starbulletin.com
Date of Publication: February 3, 2008
Article URL: http:/ / starbulletin.com/ 2008/ 02/ 03/ business/ story01.html

The nation's more than $2 trillion home mortgage business won't halt its current slide anytime soon, with mortgage originations expected to fall 18 percent next year and decline another 6 percent in 2009, the Mortgage Bankers Association predicts.

Publication: the.honoluluadvertiser.com
Date of Publication: October 17, 2007
Article URL: http:/ / the.honoluluadvertiser.com/ article/ 2007/ Oct/ 17/ bz/ hawaii710170405.html

Oahu's office vacancy rate has fallen to its lowest level since 1991, and the space crunch is expected to worsen.

Publication: starbulletin.com
Date of Publication: July 20, 2007
Article URL: http:/ / starbulletin.com/ 2007/ 07/ 20/ business/ story02.html

Comments by Sachiko

According to the article, Oahu's office vacancy has significantly dropped from 13.75 percent in 2002 to the current rate of 6.5 percent and is expected to fall to 5.7 percent in the next year.  Office space scarcity is due to the increased jobs and office workers.

Wall Street traded flat today as investors weighed a weaker-than-expected estimate of first-quarter economic growth with fresh evidence that corporate profits remain robust.

Publication: the.honoluluadvertiser.com
Date of Publication: April 27, 2007
Article URL: http:/ / the.honoluluadvertiser.com/ article/ 2007/ Apr/ 27/ br/ br2435691780.html

Comments by Sachiko

The article says that the annual rate of domestic growth was 1.3% in the first quarter, and this number is the lowest level in 4 years.  However, 22 out of 30 companies exceeded expections and reported earnings.

As home foreclosures mount, mortgage companies are knocking on doors, sending letters and making phone calls with a simple message for struggling homeowners: They'd rather modify your loan than foreclose.

Publication: honoluluadvertiser.com
Date of Publication: April 5, 2007
Article URL: http:/ / honoluluadvertiser.com/ apps/ pbcs.dll/ article?AID=/ 20070405/ BUSINESS05/ 704050336/ 1077/ BUSINESS

There are signs that Honolulu's real estate market is starting to come out of its slowdown, despite a slight year-over-year decline in March. Prices for both home and condominium resales gained momentum from February to March, inventory dropped and properties sold at a faster clip, according to data released yesterday by the Honolulu Board of Realtors.

Publication: starbulletin.com
Date of Publication: April 4, 2007
Article URL: http:/ / starbulletin.com/ 2007/ 04/ 04/ business/ story02.html

Comments by Sachiko

According to Harvey Shapiro, research economist for the Honolulu Board of Realtors, the short-term forecast for the residential housing market looks quite good, based on the number of properties that went into escrow this month.

The Business Banking Council survey released yesterday showed that increases in the cost of doing business, the tight labor market and a drop in Eastbound visitors are the main factors slowing down the economy.

Publication: starbulletin.com
Date of Publication: March 16, 2007
Article URL: http:/ / starbulletin.com/ 2007/ 03/ 16/ business/ story01.html

Comments by Sachiko

This is based on the result of a Business Banking Council survey released on 3/15 showing that less than a third of the companies polled, or 29 percent believe the state's economy will improve this year, while 54 percent expect little or no change.