I have been to Oahu three times in the last two months for a client. I can’t tell you that rental market appears to be hurting first hand but the economy is not in good shape over there. I have talked with many homeowners/business owners at the airport that were traveling there to deal with foreclosures of homes they could not find renters on Oahu and Maui. While eating at my favorite local vegan/raw food place/store (Down to Earth) I was looking at the local paper for rentals and the paper was full of 1 beds and 2 bedrooms for 1600 – 1800 a month. Recently last Friday local fish markets Uncles over at pier 38 are closing around 3pm now with signs in the windows that make reference to the economy being the main reason. We ate at a couple nice places and the parking lots and restaurants were very empty. I was assuming it is because of the season but the local news says tourist spending is down 20 percent compared to last year.
