August 6, 2005 With the ever growing interest in commercial real estate in Hawaii, Gentry decided to sell its shopping center in Waipio for $30 million. A Chicago investment firm and division of Jones Lang LaSalle purchased the 20 year old center. The neighborhood shopping center serves about 3500 homes. LaSalle made an unsolicited offer. […]
August 2, 2005 After a slight drop in June, median sales prices for both single-family homes and condominium were back up in July. The median sales price for condominiums set a new record at $270,000, while the price for a single-family home was $599,000, close to but still below the record set back in May. […]
August 2, 2005 Developer A&B Properties plans to develop a 17-acre site into a condominium and single family home residential community. The site which will feature 75 condos and 60 single family homes overlooks the Port Allen Harbor on the south side of Kauai. The project called Kai Olino is being developed by A&B Properties, […]
March 2, 2005 The state predicts creation of 10,600 new jobs and will enjoy record tourist numbers this year and expect solid growth this year. The state expects to see growth in total wage and salary jobs and personal income is predicted to rise as well. he state Department of Business, Economic Development and Tourism […]
March 2, 2005 Honolulu: Oahu single family home and condo prices set new record Today the Honolulu Board of Realtors® released resale figures for the month of February 2005. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are: Single Family Home Resales […]
March 2, 2005 Leeward residents will benefit from an easier commute to downtown Honolulu via a new ferry service announce the Honolulu Department of Transportation Services. Federal money is already available to begin the daily ferry service. The city will coordinate bus routes from Ma’ili, Nanakuli, Makakilo, and Kapolei to help get commuters to the […]
February 28, 2005 The state and many small property owners will likely miss the April 5 th deadline to convert their cesspools to septic systems. The Environmental Protection Agency has announced that violators will face up to a $32,500 per day for noncompliance. The EPA has targeted Hawaii because no other state has used cesspools […]
February 28, 2005 January arrival figures put the number of visitors to Hawaii at close to 600,000, which is an almost 16% increase from the same time last year. The State Department of Business, Economic, Development and Tourism also said that there was about a 10.7% increase in domestic arrivals and furthermore, a 19% increase […]
February 17, 2005 Honolulu: 188 acres at Campbell under new ownership HRPT Properties Trust Inc, a Massachusetts real estate investment trust, has purchased 188 acres in the Campbell Industrial Park for $115.5 million. All of the properties included in the sale have leases that are 15 years or less.
Waikiki: A new timeshare building at the Hilton The Hilton Hawaiian Village Beach Resort and Spa will begin construction of a new timeshare building on the site of the old Waikikian and the Tahitian Lanai restaurant. The 38 story building to be known as the Waikikian tower would not be completed until 2008 and would […]
February 11, 2005 Waikiki: Historic theatre to be torn down The old theatre, the Waikiki III, which has for many decades been a landmark on Kalakaua Avenue, will be torn down in the next couple of weeks to make way for a new retail complex. The $10 million complex that eventually will be home to […]
February 2, 2005 Honolulu : The HBR Announces January Residential Resales Statistics Today the Honolulu Board of Realtors® released resale figures for the month of January. According to the analysis conducted by the Board, using data collected from its computerized Multiple Listing Service (MLS) system, the statistics are: Single Family Home Resales Number of Sales […]
January 26, 2005 Honolulu: Controversial Leasehold Law is Overturned The Honolulu City Council voted 6 to 3 to overturn the 1991 law, known as Chapter 38, which allows for the city to acquire land under leasehold condos and sell the fee simple interest to qualified condo owners. The bill will need to be signed by […]
January 25, 2005 Honolulu: Kahala Leasehold Condo Owners Sue City The leasehold owners of 4999 Kahala Ave (Kahala Beach Apartments) have filed suit against the city in anticipation of tomorrows Honolulu City Council vote to overturn the controversial leasehold conversion law. The owners who are currently going through the city’s process to condemn the land […]
January 21, 2005 Honolulu: The Aloha Tower complex May be Sold to Mortgage Holder The Aloha Tower Market Place is in negotiations to sell the retail and restaurant complex to its mortgage holder AHI Aloha LP for $25 million. The action would end the three year period that the complex has been in bankruptcy and […]
January 20, 2005 Hawaii: Federal Reserve Board Points out Positives in Local Economy The Federal Reserve Board announced that Hawaii’s economic growth is most benefited by the increase in Tourism, especially from visitors from Japan. The number of Japanese visitors has returned to levels not seen since September 11, 2001. The Fed also pointed out […]
January 15, 2005 Oahu: New Mall for Kapolei Proposed The MacNaughton Group and the Kobayashi Group are partnering to create a mall housing retail, restaurant and entertainment venues of a similar size to the Kahala Mall. The first phase will across Kalaeloa from Home Depot and adjacent 20-acre parcel is under a lease option that […]
January 13, 2005 Businesses that rent will likely see fewer good deals and higher rents on Oahu. Colliers Monroe Friedlander predicts that this year will see a transition from a renter’s market to a more balanced market. With job growth continuing to improve the vacancy rate for office space is declining and the offers of […]
January 13, 2005 The Hawaii Community Development Authority announced its goals for state-owned land along the Kaka’ako waterfront and Kewalo Basin. They are requesting proposals to redevelop the 36 acres of land at the Kaka’ako Waterfront park and the 29-acre harbor known as Kewalo Basin. The vision for the area includes space for entertainment, retail, […]
January 12, 2005 Honolulu: Lease to Fee Conversion Supports Want their Cases to Continue With the lease conversion law likely to be overturned, many lease hold owners hope that allowances will be made to allow their cases to continue despite the probably change in the law. The Honolulu City Council will take a preliminary vote […]