State House approves CIP funds for West Maui projects

Lahaina News, March 21, 2013

HONOLULU - The state House Finance Committee approved a state budget that includes more than $22 million in capital improvement projects for West Maui.

The items include appropriations to provide crosswalks on Lahainaluna Road and improvements to Princess Nahi'ena'ena Elementary, Lahaina Intermediate and Lahainaluna High School.

West and South Maui Rep. Angus McKelvey, chair of the Consumer Protection and Commerce Committee, called the funding allocation "a huge milestone for the future of the public schools in our district."

The House also approved funds for the design and construction of a marginal wharf and various upgrades and improvements to Lahaina Small Boat Harbor.

Additionally, funding for repair and maintenance of Honoapiilani Highway is included in the House bill, which also addresses shoreline erosion issues along the roadway.

"One of my greatest joys in serving as a state representative is personally listening to the concerns of my constituents. When Lisa Cabingas shared her manao with me about the lack of crosswalks on Lahainaluna Road near both Nahi'ena'ena Elementary and Lahaina Intermediate schools, we made them the highest priority projects," McKelvey said.

"I am extremely grateful to my fellow House members, particularly Speaker Souki and Representative Yamashita, who prioritized the safety needs of our keiki," McKelvey said.

Highlights of the House CIP Budget for West Maui for the 2014-15 Fiscal Years include $12 million to begin construction of a new classroom building at Princess Nahi'ena'ena Elementary School and $600,000 for ground and site improvements, including the installation of a PA system for the entire campus; $8.593 million for improvements along Honoapiilani Highway, including shoreline erosion mitigation; $750,000 for a new classroom building at Lahaina Intermediate School; $750,000 for construction and improvements to Lahaina Small Boat Harbor; $150,000 for crosswalks on Lahainaluna Road; and $54,000 for renovations to the shower and locker room at Lahainaluna High School.

House Bill 200 now heads to the Senate Ways and Means Committee for further review and action.

Once approved by the House and Senate, funds are released at the discretion of the governor.

Christie's International Real Estate Returns as Sponsor of the 2013 Tavistock Cup

Premier, invitation-only golf tournament to reach more than 120 million households worldwide

New York  - Christie’s International Real Estate is proud to announce its return as a sponsor of the 2013 Tavistock Cup, taking place March 25 and 26 at the Isleworth Golf & Country Club in Windermere, Florida. The officially sanctioned PGA Tour event is a team competition, featuring top touring professional members of the Albany, Isleworth Golf & Country Club, Lake Nona Golf & Country Club, and Queenwood Golf Club, as well as the newly-added communities of Oak Tree National Golf Club and Primland.

Now in its tenth year, the tournament will bring together an impressive roster of internationally ranked golfers– segmented into groups of four—in a head-to-head contest for prize money, hole-in-one prizes, charitable donations, and the coveted crown of World Golf and Country Club Champion.

With no ropes separating the world’s best players from spectators, Tavistock Cup’s exclusivity is heightened by the fact that it is invitation-only, with attendance limited to approximately 3,500 guests.

“We are pleased to once again sponsor this premier golfing event, showcasing top talent on a global stage,” said Rick Moeser, Senior Vice President of Christie’s International Real Estate. “Coupled with our history in several of the key markets represented, Tavistock Cup’s reputation of excellence and worldwide exposure to an audience of highly qualified golf connoisseurs is a natural synergy for our brand and the portfolio of luxury properties we showcase.”

Reaching nearly 120 million households in more than 200 countries worldwide, the two-day event will be televised on the Golf Channel in the U.S., Canada, China, and Japan as well as other international broadcast affiliates in the United Kingdom, Australia, Latin America, and South Africa. Broadcast advertising from Christie’s International Real Estate will air four times during this year’s Tavistock Cup telecast. The television commercial will also be available on the day of its premiere on Christie’s International Real Estate’s newly-launched website and YouTube channel.

The Tavistock Cup began in 2004 as a friendly cross-town rivalry between the golf club communities of Isleworth and Lake Nona—both exclusive affiliates of Christie’s International Real Estate. In 2011, for the first time in its history, the Tavistock Cup expanded to a four-way competition, adding two new clubs, Albany, a luxury resort community in the Bahamas, and Queenwood, a classic Surrey heathland course outside London. With this year’s addition of Oak Tree National and Primwood, the six clubs represent the highest concentration of top-ranked golfers worldwide, collectively winning numerous international events and major championships. Since its establishment, the tournament has additionally contributed millions of dollars to philanthropic organizations worldwide.

About Christie’s International Real Estate

Christie’s International Real Estate is an invitation-only affiliate network composed of the world’s most proven and qualified real estate specialists in the luxury residential sector. The company has offices in London, New York, Hong Kong, Beverly Hills, Chicago, and Palm Beach, and approximately 125 global affiliates with 25,000 real estate professionals in 40 countries. For additional information about Christie’s International Real Estate, please visit www.christiesrealestate.com.

Israel Kreps, Kreps DeMaria

ikreps@krepspr.com

Maxwell-Storrie-Baynes Announces the Sale of Beautiful Vineyard Estate Chateau de Seguin in Bordeaux

Thursday, March 14, 2013

Maxwell-Storrie-Baynes is the Exclusive Affiliate of Christie's International Real Estate in Southwest France

Bordeaux vineyard experts and exclusive Christie’s International Real Estate affiliates Maxwell-Storrie-Baynes today announced the sale of Chateau de Seguin in Lignan de Bordeaux to the Mottet family, owners of the Bordeaux vineyard, Chateau la France.

Spanning 172 hectares—133 of which are under vine—Chateau de Seguin produces about 800,000 bottles annually with a wide range of marques, most of which are exported internationally to such regions as the U.S., China, Denmark, Germany, Belgium, Brazil, Russia, and the U.K. The estate has been purchased with its negoçiant company (to be called Bwine) and all of its stock will be managed by Bruno Mottet.

Michael Baynes, partner at Maxwell-Storrie-Baynes said, “There is a great deal of attention on the Chinese in Bordeaux at the moment, and for good reason. However, since the French presidential elections last year we have seen considerable interest from French investors in the vineyard sector.” Karin Maxwell of Maxwell-Storrie-Baynes added, “We were impressed with the buyer’s professional and detailed approach to a complex purchase. We have every confidence they will fulfill the potential of this magnificent estate.”

Presiding over a gorgeous country setting, this impressive wine estate has a rich history spanning many centuries. The world-famous city of Bordeaux, Considered the wine capital of the world, the world famous city of Bordeaux is located within close proximity and boasts a wealth of magnificent historic architecture and convenient transport options.

Michael Baynes - MSB Christies International Real Estate - michael@maxwellstorriebaynes.com

Hawaiian Airlines begins nonstop service to Auckland, New Zealand

StaffPacific Business News

Maori dancers perform at Honolulu International Airport before the inaugural flight of Hawaiian Airlines' new service to Auckland, New Zealand.

Hawaiian Airlines launched its nonstop flights from Honolulu to Auckland, New Zealand, on Wednesday with Hawaiian music and a performance by Maori dancers.

Hawaiian, a subsidiary of Hawaiian Holdings Inc. (Nasdaq: HA), announced the new thrice-weekly flights last summer, and plans to increase service to four flights per week for several weeks this fall.

“We have been delighted by the interest in our new service, both here at home and in New Zealand,” Hawaiian President and CEO Mark Dunkerley said in a statement. “The deep cultural connections between our islands and the islands of Aotearoa make New Zealand a natural destination for Hawaiian and for our singular brand of authentic Hawaiian hospitality.”

Hawaii Gov. Neil Abercrombie was on hand at Honolulu International Airport for the flight’s departure. Seven crewmembers of the traditional Hawaiian sailing canoe Hokulea were aboard the flight, including Nainoa Thompson, captain of the Hokulea and the Polynesian Voyaging Society.

Baisa praises House for advancing bill to purchase Lipoa Point

March 7, 2013
Lahaina News

HONOLULU - A bill to purchase land at Lipoa Point at Honolua Bay for permanent preservation passed unanimously out of the State House of Representatives last week Thursday.

The measure, House Bill 1424, passed first reading in the Hawaii Senate on Friday.

"I fully support the acquisition of Lipoa Point," said Maui County Council Chair Gladys Baisa.

"I am very grateful to our Maui Representatives McKelvey, Carroll, Ing, Woodson, Souki and Yamashita for introducing this very important measure."

The bill appropriates an unspecified sum of general obligation bonds for the Department of Land and Natural Resources, in consultation with the Hawaiian Islands Land Trust, to purchase the parcel of land.

"Since 2007, the mayor and the council have consistently pledged $1 million for the acquisition of this land, but we cannot do it alone," said Baisa.

She thanked the Save Honolua Coalition, Surfrider Foundation, The Trust for Public Land and the hundreds of individuals who have tirelessly lobbied to protect the pristine parcel of land.

"The parcel was pledged against a pension fund," said Baisa. "Passage of this measure will also ensure the safety of pension benefits for hundreds of Maui Land & Pine retirees."

The Senate must also pass the measure. The public can track its progress at www.capitol.hawaii.gov.

"I urge the Senate to do what is right and appropriate the necessary funds to acquire this land," said Baisa.

Tenth District Rep. Angus McKelvey of Lahaina said Honolua supporters must continue lobbying for HB 1424.

"Even though the bill has passed the House, we are only at the proverbial half-time of the game, so to speak," McKelvey said, explaining that the bill has to go through the same public hearing process as in the House.

"So, once again, public testimony will be critical for passage of the bill in the Senate, especially since it did not originate in that chamber."

Residents, county officials and Maui Land & Pineapple Co. Inc. President and Chief Operating Officer Ryan Churchill testified in favor of the bill.

Read more...

Top Global Destinations Lead Resurgence in Luxury Residential Property Market

Top Global Destinations Lead Resurgence in Luxury Residential Property Market, Reports Christie’s International Real Estate

Report debuts first ever Index to rank the world’s most important cities for luxury residential real estate, with London topping the list

NEW YORK (March 4, 2013) – Limited inventory, strong international buyer demand, and high-net-worth individual’s (HNWI) increased appreciation for world-class lifestyle offerings have pushed prices for luxury homes toward historic highs, reports Christie’s International Real Estate in a new study on the global prestige residential market.

Entitled Luxury Defined: An Insight into the Luxury Residential Property Market, the report compares 10 of the world’s top property markets—London, New York, Hong Kong, Paris, San Francisco, Cote d’Azur, Toronto, Dallas, Los Angeles, and Miami—and debuts the ‘Christie’s International Real Estate Index,’ the first ever true global indicator for luxury residential real estate. The Index ranks markets across key metrics including record sales price, prices per square foot, percentage of non-local and international purchasers, and the number of luxury listings relative to population.

Highlights of the research include:

  • Globally, top-tier property sales achieved record prices in several cities, remaining immune to many of the economic concerns that drive the general housing market.

  • HNWIs are often more inclined to invest in an important global market than in another city within their home country for second or additional homes.

  • Prestige residential real estate values will more likely follow growth trends of non-consumable luxury goods such as fine art more so than the growth trends of the general housing market.

  • Cash transactions have dominated luxury property acquisitions across many studied cities.

  • Recent tax law changes in many of these markets are expected to negatively impact 2013 market activity.
“With financial markets providing a limited return on investment, high-net-worth individuals are recognizing the intrinsic value of investing in non-consumable assets such as prestige real estate and fine art,” says Bonnie Stone Sellers, Chief Executive Officer of Christie’s International Real Estate, the world’s leading luxury real estate network and a subsidiary of Christie’s auction house. “Strong momentum in the luxury property market is also being driven by scarcity of quality inventory and demand from international buyers in many of the world’s top destinations.”

London’s $121 million (£75 million) sale and New York’s $88 million sale pushed both cities to the top of this year’s Index with the highest record home sale prices. A prized second home destination, Côte d’Azur recorded the highest percentage of both secondary home buyers (95 percent), and international and non-local buyers (90 percent). Toronto’s real estate market, which has remained buoyant in recent years of global turmoil, recorded the lowest amount of days on the market for luxury listings (46 days).

While the report focuses on 10 indexed markets, it also provides insight into other luxury residential areas around the globe with a population of less than 150,000, such as St. Bart's, French West Indies; Salzburg, Austria; Aspen, Colorado; and Jupiter Island, Florida.

As the only global real estate network owned by a fine art auction house, Christie’s International Real Estate has unparalleled access to the HNWIs around the globe who procure assets such as art, wine, jewelry, and luxury real estate. Together with its 125 affiliated brokerages in 41 countries – all individually selected to join its network for proven records of client service and success in luxury residential sales – Christie’s International Real Estate is uniquely qualified to understand the characteristics and trends associated with the prestige real estate market.

The study can be accessed as a whole at www.christiesrealestate.com/luxury-defined

Israel Kreps, Kreps DeMaria
ikreps@krepspr.com+1 305 663 3543

Antonia Koumantaropoulou, Christie’s International Real Estate
akoumantaropoulou@christies.com
+44 (0)20 7389 2855

Monique Sofo, Christie’s International Real Estate
msofo@christies.com
+1 212 974 4593