Visitor spending in Hawaii increased 6.8% to $13.8 billion for the first 3 quarters of this year.  Thus far, the tourism industry has generated $1.62 billion in state tax revenue, which is $103 million more than last year at this time.  Through the first 10 months of 2017, visitor arrivals increased 4.7% to 7.7 million.  The East Coast reported the largest gain in visitor spending ... 10.6% to $3.56 billion while arrivals increased 5.9%.    Spending by West Coast visitors rose 9.9% to $5.07 billion while arrivals increased 4.3%.  Spending from Japan increased 9.9% to $1.87 billion with arrivals increasing 6.4%.  Canada reported a 9% increase in spending to $805.7 million with arrivals increasing 8.4%

On Maui, visitor spending increased 4.2% to $3.91 billion through the first 10 months of this year.   Arrivals rose 3.2% to 2.27 million.   Maui hotels recorded an increase of 9.7% in  RevPAR (revenue per available room) during the first three quarters.

Last month I brought up a new kind of tourism Hawaii is looking into - Medical Tourism.  This time we'll touch on 2 other kinds of tourism.  Voluntourism is where tourists can combine vacation with opportunities to help the community.  It's catching on globally and now here in Hawaii:  Sustainable Coastlines Hawaii. Another new term is  Sustainable Tourism.  That program aims at tour operators.  Those who positively impact the environment, culture, and community get the official Hawaii Ecotourism Association certificate.  Check here for 50 certified tour operators:  Hawaii Ecotourism Association

Holiday season is here. Maui is packed with visitors, and hotels are charging top dollar. If you have friends or family coming in for the holidays, do them and yourself a favor. Check out  Maui Beachfront Rentals  .  Due to some last minute cancellations they have some insane specials going on a few units.   There are no hidden fees.  That's where I keep my vacation rentals, and my guests save money by avoiding all those inflated fees by travel agencies. They have properties to suit even the pickiest traveler with over 60 locations island-wide. Their service doesn't stop with the booking - locally based staff is available 24/7. For me, it means  no hassles.    No more trying to cover all my bases with a local rental agency here plus extra advertising on sites like VRBO, HomeAway, Flip Key and others to try and get a decent return.    MBR covers it all and at no additional cost.

The big news this week is the Federal Reserve's decision to raise its benchmark interest rate by one-quarter of a percentage point.  Our mortgage expert  Dean Rathbun of Avis Mortgage says this raise was expected and marks the third hike this year.  Fed officials are confident that the economy is in good health.  Going forward, the economy is predicted to see an uptick as a result of the expected passage of a massive tax cut.  The Fed is forecasting economic growth of 2.5% in 2018.  And while the Fed has predicted rate raises 3 times in 2018, and 2 more in 2019, some Wall Street firms are expecting even stronger economic growth.  Goldman Sachs has gone on record predicting the Fed will raise rates 4 times in 2018, and 3 times in 2019 as a response to stronger growth.  Jerome Powell, governor of the Fed, will take the reins from Chairwoman Janet Yellen in early February.    

Following on the heels of the Federal Housing Finance Agency, the Federal Housing Administration has announced it will increase its loan limits in most areas of the country in 2018.  In high-cost areas of the country, the FHA's ceiling on loan limits will rise from $636,150 to $679,650.   These figures will also apply to FHA-insured reverse mortgages.  Fannie Mae and Freddie Mac's new conforming loan limits for 2018 will be $453,100 for conforming loans and $679,650 for jumbo loans in some high-cost areas.