Japan’s Shoei USA Inc., a helmet manufacturer, paid $37.75 million in the leasehold purchase of the iconic Bank of Hawaii Waikiki Center, according to public records.
Up until now, the sales price of the 153,059-square-foot, nine-story building at 2155 Kalakaua Ave. — which includes a mix of office and retail tenants, including Bank of Hawaii, Starwood Hotels & Resorts, JTB Hawaii and 7-Eleven and soon-to-be Waikiki’s first Longs Drugs store — was unknown.
The previous owners, Honolulu-based Pacific Office Properties Trust Inc. (Other OTC: PCFO) and a group of Mainland investors, quietly put the center on the market for $38 million in 2012.
The land is still owned by the Lahaina, Maui-based company, Kapuahelani, which lists the Barbara McNamara Trust, Florence Thomas and Melissa Raymond as partners of the firm, according to public records.
Honolulu’s NAI ChaneyBrooks represented the buyer in the sale.
The property was built in 1980 as a retail center that was anchored by Japan’s Mitsukoshi Department Store. In 1989, it was acquired and redeveloped into a mixed-use office and retail center and was known as the ANA Building.
Pacific Office Properties purchased it in February 2007.
Duane Shimogawa Reporter – Pacific Business News
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