Reported by Star-Bulletin staff & wire
Valley Isle condo prices hit record
Maui condominium prices hit a record median of $365,000 in October, and single-family homes saw a near-record as offshore investors kept the Valley Isle's real estate the priciest in the state.The Realtors Association of Maui said single-family homes came in at a median $607,500, the highest mark since prices hit a record $622,500 in May.
Buying remains dominated by wealthy investors from the West Coast who have driven up prices and depleted inventory in the past two years in a rush to snap up vacation and second homes, said Patty Chaney of Aina Maui Properties.
"There is such limited inventory out there. It's like if you throw some meat in a lake full of piranhas, it's going to be gobbled up," she said.
In September, condo prices were $330,000, while single-family homes reached $598,000.
Prices for both are up sharply from year-ago levels when they hit $255,000 for condos and $520,000 for homes in October 2003.
Sales volume remained strong compared with recent months, with 115 condos and 110 single-family homes changing hands last month.
Single-family homes in the much-larger Oahu market reached $485,000 in October. Oahu condos reached a median $218,000.
Pasha to ship Chrysler vehicles
Pasha Hawaii Transport Lines, which plans to take on Hawaii's established trans-Pacific shippers, said yesterday it has won a multiyear contract to ship Chrysler Group vehicles to the Hawaii market.Pasha said it will begin bringing in the cars in March aboard a recently completed 579-foot vehicle-carrying ship built specially for the company, but would not specify how many cars would be shipped.
The ship has a capacity of 3,000 vehicles and will visit the islands twice a month, a spokeswoman said.
Pasha Hawaii Transport Lines is a joint venture between the Pasha Group, a Southern California-based transportation logistics firm, and Strong Vessel Operators LLC of Stamford, Conn.
Pasha Hawaii first announced plans to break into the Hawaii-mainland vehicle shipping market in 2000, and had planned to begin operations in 2002 but was delayed when the Mississippi shipyard building the company's vessel went bankrupt.
More than 66,000 new cars are expected to be brought to the state this year.
NEW JOBS
» Helber Hastert & Fee Planners Inc. has hired Corlyn Olson as senior planner. She will be responsible for preparing and coordinating environmental statements and land-use entitlement documents. She previously worked as a planner with the city Department of Planning and Permitting.» Hawaii Community College has appointed Rebecca Kenney director of its Office of Continuing Education & Training director, and Douglas Dykstra dean of instruction. Kenny will be responsible for managing OCET's programs and operations. She previously served as continuing education director and apprenticeship and adjunct director at Mt. Hood Community College in Gresham, Ore. Dykstra will be responsible for serving as the chief academic officer for Hawaii CC. Before joining the college, he served as Leeward Community College's interim vice chancellor and chief academic officer.
» Hawaiian Host Inc. has appointed Kimberly DeJesus marketing assistant. She will be responsible for assisting in all areas of marketing including advertising, public relations, brand development, new product offerings, and sales support. She previously served as an associated project coordinator at AC Nielsen HCI, in New Jersey.
