Call : 808-791-2923
Hawaii Americana Realty Serving Hawaii's Most Beautiful Beaches and Homes, and Serving Them To You!
  • Home
  • Metro
    • Alewa Heights
    • Aliamanu
    • Dowsett
    • Kakaako
    • Kalihi Area
      • Kalihi Lower
      • Kalihi Uka
      • Kalihi Upper
      • Kalihi Valley
    • Kalama Valley
    • Kam Heights
    • Kapahulu
    • Kapalama
    • Kapiolani Area
    • Liliha
    • Makiki Heights
    • Manoa Area
      • Manoa Lower
      • Manoa Upper
      • Manoa Woodlawn
    • Moanalua Gardens
    • Maoanlua Valley
    • Moiliili
    • Nuuanu Area
    • Pacific Heights
    • Palolo Valley
    • Pauoa Valley
    • Punahou
    • Punchbowl
    • Salt Lake
  • Diamond Head
    • Aina Haina
    • Diamond Head
    • Hawaii Loa Ridge
    • Kahala / Black Point
    • Kai Nani
    • Kaimuki
    • Kalani Iki
    • Kuliouou
    • Niu Beach and Valley
    • Paiko Lagoon
    • Palolo
    • St. Louis Heights
    • Waialae Areas
    • Wilhelmina
  • Hawaii Kai
    • Hahaione Upper & Lower
    • Kalama Valley
    • Koko Head Terrace
    • Koko Kai
    • Koko Villas
    • Mariners Cove
    • Mariners Ridge
    • Mariners Valley
    • Napali Haweo
    • Portlock
    • Queens Gate
    • Triangle
    • West Marina
  • Kailua
    • Coconut Grove
    • Enchanted Lake
    • Hillcrest
    • Kailua Town Condos
    • Kawailoa
    • Keolu Hills
    • Waimanalo
  • Kaneohe
    • Hauula
    • Kaaawa
    • Kaalaea
    • Mahinui
    • Punaluu
    • Temple Valley
    • Windward Estates
  • Northshore
    • Haleiwa
    • Kahuku Malaekahan
    • Laie
    • Mokuleia
    • Paalaakai
    • Sunset Area
    • Sunset Velzy
    • Waialua
  • Leeward
    • Lualulalei
    • Maili
    • Makaha
    • Nanakuli
    • Sea Country
    • Waianae
  • Ewa Plain
    • Ag / Indl / Navy
    • Ewa
    • Ewa Beach
    • Gentry Subdivisions
    • Hawaiian Homes Land
    • Hoakalei – Ka Makana
    • Huelani
    • Kapolei Condos
    • Kapolei Homes
    • Ko Olina
    • Leeward Estates
    • Nanakai Gardens
    • Ocean Point
    • Westloch Estates
    • Westloch Fairway
  • Makakilo
    • Highpointe
    • Kahiwelo
    • Kumulani
    • Makakilo
    • Makakilo – Lower
    • Makakilo – Upper
    • Palehua Heights
    • Royal Ridge
    • Starsedge
    • Wai Kaloi
    • West Hills
  • Waipahu
    • Crestview
    • Harbor View
    • Renaissance
    • Robinson Heights
    • Royal Kunia
    • Seaview
    • Village Park
    • Waikele
    • Waipahu
    • Waipahu – Lower
    • Waipahu Estates
    • Waipahu Gardens
    • Waipahu Triangle
    • Waipio Gentry
  • Central
    • Launani Valley
    • Mililani Condo $100k – $250k
    • Mililani Condo $251k – $500k
    • Mililani SFR $400k – $600k
    • Mililani SFR $600k – $800k
    • Mililani SFR Over $800k
    • Wahiawa Area
    • Wahiawa Heights
    • Waipio Acres
    • Whitmore Village
    • Wilikina
  • Pearl City
    • Aiea Area
    • Aiea Heights
    • Foster Village
    • Halawa
    • Halawa Heights
    • Manana
    • Navy / Federal
    • Newtown
    • Pacific Palisades
    • Pearl City
    • Pearl City – Lower
    • Pearlridge
    • Royal Summit
    • Waiau
    • Wailuna
    • Waimalu
  • Contact Us

‘Area in transition’ will become bank’s campus

January 28, 2015 By Mark G. Howard Leave a Comment

pg03asb-new-headquarters230-n-beretania-st-600xx1488-992-6-0American Savings Bank’s plan to build a new corporate campus near Downtown Honolulu that will serve as its new Hawaii headquarters makes lots of sense, especially from an investment standpoint, a commercial real estate expert told PBN.

“That whole area is in transition,” said Scott Mitchell, executive vice president of Colliers International Hawaii. “Lots of money is being spent in that area. It’s a pretty astute buy.”

PBN broke the news this week that the Honolulu-based bank, a subsidiary of Hawaiian Electric Industries Inc. and sister company to Hawaiian Electric Co., is buying the 62,595-square-foot parcel at 230 N. Beretania St., just outside of Chinatown, for an undisclosed price.

The move will bring together 600 of its employees from around the island, including its top executives, in a 100,000-square-foot building.

Mike Hamasu, director of consulting and research for Colliers, said the purchase stabilizes the bank’s occupancy costs.

“They don’t have to continually rent,” he said. “Since it’s an owner-user [arrangement], it might be a good move.”

Hamasu also noted that it might help clean up the area.

“By building on a previously vacant site, it will likely relocate the people using the site right now,” he said.

Richard Wacker, president and CEO of American Savings Bank, told PBN that the new location gives it the culture to collaborate and move quickly.

“We spend a lot of time on company culture and we try to be the best place to work,” he said. “Bringing everybody together will be a big step.”

The new corporate campus — likely to be a single structure, with parking — may include a branch on the bottom floor, said Beth Whitehead, the bank’s executive vice president and chief administrative officer.

“It really has been a goal of ours to find a campus for several years,” she said. “We have teammates in six different locations. That’s difficult to huddle and work together. We have been looking for and debating on a location for years.”

Approximately 600 current employees will be moved to the new location from offices in Mililani, the 677 Ala Moana Building near Downtown Honolulu, the Financial Plaza of the Pacific in Downtown Honolulu, Kalihi, Chinatown and the American Savings Bank Tower at Bishop Square.

There are no plans to close any branches, including those in Chinatown and Bishop Square, near the future headquarters, Wacker said.

Plans for the building have not been finalized, although 100,000 square feet is a rough estimate of how much space it could encompass, Whitehead said, adding that construction and opening dates have not been confirmed.

“We have to finish the elements of design and budget for it,” she said.

The property, which is made up of two parcels, had an asking price of $14 million, according to JLL, formerly Jones Lang LaSalle, which marketed the property at the corner of North Beretania and Aala streets.

Seattle-based HighMark Investments, the owner of the property, whose owners used to own a construction company in Hawaii, had plans in 2006 to build a 15-story medical office building and outpatient surgery center there.

About two years later, another plan to build a medical office building by Montecito Medical Investment Co., in partnership with PM Realty Group, also fell through, mainly because of the economic downturn

Duane Shimogawa Reporter – Pacific Business News

Filed Under: Blog, Downtown Honolulu, Featured Blog Tagged With: Downtown Honolulu

Leave a Reply Cancel reply

You must be logged in to post a comment.

Existing Users

Quick Search

Search Honolulu County Cities

  • Browse by City in Hawaii Central MLS
  • Browse by City in Hawaii Central MLS

Browse Oahu Real Estate by Price

  • Browse Real Estate For Sale by Price
  • Browse Real Estate For Sale by Price

Oahu Luxury Estates

  • Luxury Estates $10M plus
  • Luxury Estates $2M – $3M
  • Luxury Estates $3M – $4M
  • Luxury Estates $4M – $5M
  • Luxury Estates $5M - $6M
  • Luxury Estates $6M – $8M
  • Luxury Estates $8M – $10M

Kaka’ako High-Rise

  • 909 Kapiolani
  • 1350 Ala Moana
  • Hawaiki Tower
  • Hokua
  • Imperial Plaza
  • Keola Lai
  • Koolani
  • Moana Pacific
  • Nauru Tower
  • One Waterfront Towers
  • Pacifica Honolulu
  • Royal Capitol Plaza

Info

  • Client Login
  • Contact Us
  • About Us
  • Privacy Policy
  • Fair Housing
  • US Residential Property Buying Guide
  • General Real Estate
  • Directory of Vendors
  • FOR SELLERS
  • Reviews

Ko Olina Beach Resort

  • Ko Olina Beachvillas
  • Ko Olina Coconut Plantation
  • Ko Olina Fairways
  • Ko Olina Hillside Villas
  • Ko Olina Kai Golf Estates
  • Ko Olina Kai Lani
  • Ko Olina Olani

Oahu Real Estate Listings

  • Waikiki Vacation Rental Properties
  • Oahu New Construction
  • Oahu Commercial Property

Oahu Luxury Condos

  • Luxury Condos $1M – $2M
  • Luxury Condos $2M – $3M
  • Luxury Condos $3M – $4M
  • Luxury Condos $4M +

Waikiki By Price

  • Waikiki $150,000 – $200,000
  • Waikiki $200,000 – $250,000
  • Waikiki $250,000 – $300,000
  • Waikiki $300,000 – $350,000
  • Waikiki $350,000 – $450,000
  • Waikiki $450,000 – $600,000
  • Waikiki $600,000 – $1M
  • Waikiki $1,000,000 plus
© 2014 - Hawaii Americana Realty. All Rights Reserved. Hawaii Americana Realty fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Subject to change without notice. While the information on this site is deemed to be accurate, Hawaii Americana Realty. does not guarantee its accuracy, and provides this information without warranties of any kind, either expressed or implied. Hawaiian Americana Realty, Inc. 134 Kapahulu Ave., CUB, Honolulu, HI 96815 * by appointment only * RB20383 / RB20384