The momentum created in Maui’s construction sector by soaring median home and condo prices, inexpensive financing, and multiple luxury resort developments has dissipated over the past two years. With the deepening financial crisis and a substantially weaker housing market, employment in the contracting sector on Maui has taken a tumble this year. Because construction has been a primary driver in Maui’s job market for the past 5 years, this has troubling implications for the overall Maui economy.
