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Hawaii housing agency plans 90-home project at Villages of Kapolei in West Oahu

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

The Hawaii state agency charged with overseeing affordable housing finance and development in the state is seeking a developer to build a 90-unit single-family housing project as part of the 888-acre Villages of Kapolei master-planned community in West Oahu, according to public records.

Rick Prahler, development branch chief for the Hawaii Housing Finance and Development Corp., said at the April Makakilo/Kapolei/Honokai Hale Neighborhood Board meeting that a request for proposals has been released for the 90 units of affordable homes on about nine acres.

No timeframe was given for the project.

The Villages of Kapolei, which is located at the intersection of Fort Barrette Road and Farrington Highway, will eventually be comprised of eight villages, including Kumu Iki, Malanai, Kekuilani, Aeloa, Iwalani, Maluohai, Kapolei Kai and Kaupea.

The community features affordable and market-priced single family homes, condominiums, and rental apartments. Filling in will be schools, churches, parks, recreation centers, retail centers and a golf course.

The Hawaii Housing Finance and Development is the master developer of the Villages of Kapolei, which has entitlements for 5,000 units, although Prahler noted that the village will have about 500 units less than that amount.

In November, San Diego-based developer OliverMcMillan Inc. was chosen to develop a nearly 27-acre parcel within the Villages of Kapolei.

The plan is to develop a 400-unit mixed-use residential project and 154,000-square-feet of retail space, 6,300-square-feet of office space, community amenities and pocket parks.

Duane Shimogawa
Pacific Business News

Filed Under: Blog, Featured Blog, KAPOLEI, kapolei Tagged With: OliverMcMillan Inc., Villages of Kapolei

Oahu luxury home sales soar by 54% in April,

May 27, 2015 By Mark G. Howard Leave a Comment

The number of luxury homes and condominiums that sold for at least $1 million on Oahu rose by 54 percent last month compared to the same time last year, according to a monthly analysis.

In all, 83 luxury homes, defined as those that sold for $1 million or more, changed hands in April — a jump from 54 in April 2014.

The median sales price for those luxury properties dropped to $1.31 million last month compared to $1.4 million in 2014.

“Year-to-date sales of single-family homes over $1 million indicate a strong performance compared to the same period a year ago,”. “Specifically, sales in the $1-million to $2-million price range are up 40 percent while the $2-million to $6-million price range are down by 45 percent.”

In all, a total of 72 homes were sold in the $1 million to $2 million price range. Nine more, meanwhile, were sold in the $2 million to $4 million price range. Only two Oahu properties were sold last month for at least $4 million.

Kakaako led the island in luxury property sales last month with eight closed sales, followed by Diamond Head with five closed sales, and Lanikai and Waikiki with four closed sales for each neighborhood.

“Based on the current rate of sale, we only have four months of inventory remaining for single-family homes in this segment — a balanced market is six months of inventory,” Nakagawa said. “Meanwhile, the higher price ranges in the luxury market have not been selling as briskly. The units in escrow (or forward sales) for single-family homes show that this trend will keep going.”

More luxury properties in $1 to $2 million price range, she explained, would have to be put up for sale to balance out the market and keep up with the “very, very high demand for these properties.”

Though she has seen more of those homes come on the market over the past few months, the number of those selling for at least $4 million has been building over time as fewer sales for those properties take place, Nakagawa said.

The most expensive home sale recording by Multiple Listing Service data last month was a six-bedroom, four-bath, 3,055-square-foot home in Kailua for $10.5 million.

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Filed Under: Blog, Featured Blog, Luxury Condos for sale, Luxury real estate, luxury real estate Oahu, Oahu real estate, Oahu real estate for sale, Oahu real estate sales Tagged With: Celebrity home Honolulu, Celebrity Homes Honolulu, Luxury Estate Honolulu, Luxury Experiences Honolulu, Luxury Home Honolulu, Luxury Homes Honolulu, Luxury Honolulu, Luxury Living Honolulu, Luxury Mansion Honolulu, luxury real estate Honolulu, Luxury Villa Honolulu, LuxuryHomes Honolulu, LuxuryHomes.com Honolulu, Mansion Honolulu, Million Dollar Estates Honolulu, Million Dollar Home Honolulu, Most expensive Honolulu, Ocean View Honolulu, Penthouse Honolulu

Honolulu named 9th top U.S. destination this summer by Adobe

May 25, 2015 By Mark G. Howard Leave a Comment

Honolulu named 9th top U.S. destination this summer by Adobe

Honolulu named 9th top U.S. destination this summer by Adobe

Honolulu was named the ninth top leisure destination based on bookings and social media mentions, according to a new study by Adobe.

Adobe (Nasdaq:ADBE) recently published its 2015 Adobe Digital Index Summer Travel Report based on aggregated and anonymous data from Adobe Marketing Cloud. It found that January was the best month to fly to to Honolulu and while hotel room rates were cheapest in September.

The top five domestic leisure destinations this summer are Washington D.C., Los Angeles, New York, Las Vegas and San Francisco.

In a separate report based on the responses of 1,000 U.S. consumer who have travel plans this summer, it found 7 percent year-over-year growth in online travel bookings, with overall spending for summer topping $65 million. It said the average consumer will spend $2,788 on their summer travel with 57 percent of that being online.

It said this would be the first year that purchases on smartphones will surpass purchases on tablets, and says $1 our of every $5 spent on summer travel will come from mobile devices.

Jason Ubay
Pacific Business News

Filed Under: Blog, Featured Blog, Honolulu, HONOLULU, Oahu, real estate in the news Tagged With: Honolulu, Oahu

D.R. Horton gets OK for 11,750-home Hoopili project in West Oahu

May 23, 2015 By Mark G. Howard Leave a Comment

D.R. Horton gets OK for 11,750-home Hoopili project in West Oahu

D.R. Horton gets OK for 11,750-home Hoopili project in West Oahu

D.R. Horton — Schuler Division’s rezoning request for its $4.6 billion, 11,750-home Hoopili master-planned community in West Oahu won unanimously approval Wednesday from the Honolulu City Council, a vice president for the developer confirmed to PBN.

The council voted 9-0 in favor of the Ewa development, said Cameron Nekota, vice president of D.R. Horton — Schuler Homes.

The Texas-based developer, which requested that the 1,289-acres of land be rezoned from agriculture to urban, already has received the approval for the zoning change from the state Land Use Commission.

D.R. Horton (NYSE: DHI) hopes to begin construction in 2016.

In the past couple of months, the developer donated five acres at Hoopili to the Hawaiian Humane Society for a second campus and another acre to the Waianae Coast Comprehensive Health Center for a new clinic.

The project also is supposed to include a major solar energy farm.

Honolulu firms The MacNaughton Group, Kobayashi Group and BlackSand Capital are under contract to buy 33 acres of land near Hoopili, which could become a retail center, as first reported by PBN.

The companies are well-known developers of retail and residential projects in Hawaii.

Opponents of the master-planned community argue that it will take away prime agricultural lands and cause even more traffic jams along the already congested West Oahu corridor.

Duane Shimogawa
Pacific Business News

Filed Under: DR Horton, Featured Blog, Hoopili Tagged With: DR Horton, Hoopili, West Oahu

Kauai median home sales price nears $1 million in March

April 27, 2015 By Mark G. Howard Leave a Comment

kauainew-600xx315-210-0-48The median price of a single-family home on Kauai soared 72 percent on fewer sales in March, approaching $1 million, driven by sales of homes on the North Shore that flirted with a median price of $2 million, according to the Hawaii Information Service on behalf of the Kauai Board of Realtors.

The 34 single-family homes sold in March compared to 46 sold in March of 2014. The median price of those homes sold shot up 72 percent to $967,500 last month, from $562,500 a year ago.

The Hanalei district on Kauai’s North Shore, which includes Princeville, saw sales rise 45.4 percent to 16 homes sold, while the median price there jumped 65.9 percent to $1.8 million, from $1.1 million a year ago.

On the South Shore, sales fell in the Koloa district to seven homes sold, from 11 in March 2014, while the median price rose 25.5 percent to $985,000, from $785,000.

The median price of a condo on Kauai was $417,000, a 41.5 percent increase from $295,000 a year ago, while sales of condominiums rose slightly to 24 sales, from 23 sales a year ago.

Janis L. Magin Managing Editor – Pacific Business News

Filed Under: Blog, Featured Blog, General Real Estate Tagged With: Hanalei, Hawaii Information Service, Kauai, Kauai Board of Realtors, Residential Real Estate

Hawaii resort residential sales down whiles prices rise

April 25, 2015 By Mark G. Howard Leave a Comment

Sales of homes in Hawaii’s residential resort market in 2014 fell to 1,316, down from 1,447 in 2013, but the average price rose 6.6 percent to $1.23 million, according to data collected by Ricky Cassiday, principal of Data@Work.

For sales including bulk sales by island, Maui had the highest sales in 2014 at 451; followed by Kauai at 394; Big Island at 389; and Oahu at 92. By average sales price, Maui led all islands with an average price of $1.56 million. Big Island was next highest with average prices of $1.41 million; followed by Kauai at $805,314 and Oahu at $680,743.

By price range, sales were moving from the lower to higher ends. In the $250,000-$499,999, 319 sales closed in 2014, down 7 percent from 2013. In the $1 million-$1.249 million range, 124 properties sold, up 13 percent from 2013. For properties over $3 million, 104 properties were sold, a 4 percent increase.

New condominium sales were up to 124 in 2014 from 88 a year before, but is significantly down from a 861 in 2006. The price per square foot in the developer condo market is up to $830 from $779 in 2013.

With sales down and prices up, one might assume that very little new product inventory exists, but Cassiday says new condo sales actually increased from 192 to 195 in 2014. He adds that new product is in the pipeline, including projects in Makena and Wailea on Maui and Princeville Lagoons on Kauai.

Another reason could be on the demand side, saying, “the buyers in the price ranges below median price are less confident than those above, and are staying on the sidelines,” he said. “Hence, the high end seems to be driving the market, for now.”

Jason Ubay Reporter – Pacific Business News

Filed Under: Blog, Featured Blog, General Real Estate Tagged With: Big Island, DataWork, Kauai, Makena, Maui, Residential Real Estate, Ricky Cassiday

Honolulu’s imported skyline

April 23, 2015 By Mark G. Howard Leave a Comment

A view of the Kakaako skyline on March 9, 2015

A view of the Kakaako skyline on March 9, 2015

There are at least 10 new high-rise condominiums at some point in their development in the latest building boom in Honolulu, from San Diego-based OliverMcMillan’s Symphony Honolulu to The Howard Hughes Corp.’s luxury towers, Waiea and Anaha. There’s no doubt that the Kakaako skyline will be changed forever by each building’s distinct design.

But as this new skyline is being created, there are some in the architecture industry who say that the local firms are not getting their fair share of the design work, with these rare experiences going to out-of-town firms.

The lack of work also has a financial impact related to it, which could tally into the millions, although no exact numbers were available for these contracts.

The Howard Hughes Corp., which currently has at least five towers in various phases of development in its 60-acre Ward Village master plan in Kakaako, has chosen design architects that are well known internationally, including Canada’s James K.M. Cheng Architects, Chicago-based Solomon Cordwell Buenz, Pennsylvania-based Bohlin Cywinski Jackson and New York’s Richard Meier & Partners Architects.

Cheng, who studied under Meier at Harvard University, is known for his condo work in Vancouver, British Columbia, while Meier is a Pritzker Architecture Prize winner who currently has high-rise residential towers going up everywhere from Taiwan to Tel Aviv.

While most of the design work is done by these internationally known firms, the Hawaii firms do get a piece of the action as the architect of record, which by state law, has to be a firm with a license to practice architecture in the state.

Also, Honolulu’s WCIT Architecture and Benjamin Woo Architects are involved in the design of Ward Village’s luxury high-rises, Waiea and Anaha, respectively.

Rob Iopa, president of WCIT Architecture, told PBN that he favors local firms getting the lead role in designing world-class towers in Hawaii.

Iopa noted that his firm likes to have more of a proactive role in designing than others.

“Sometimes, when you let big names come in, they would do the design,” he said. “We were an integral part of the design process of Waiea.”

The tower is designed in a way to showcase a story of two Hawaiian fishing gods, a father and son from Kauai, who stopped on every island to teach everyone to fish.

“They stopped in Kakaako and found this as their home,” Iopa said. “When the father passed, he gave his son five fishing tools that has been used by Hawaiians to fish. So the tower was designed with this story in mind.”

Having a big role in designing such a highly visible high-rise is a coveted role for many in the local architecture scene, and it’s something WCIT has recently experienced.

Iopa says that often, the developers themselves are not from Hawaii and turn to Mainland-based architecture firms they’ve used in the past and with whom they are comfortable.

“Sometimes for local developers, they may have a particular connectivity with a group that brings a certain look, and maybe they have made relationships with national firms they like to bring here,” he said. “I think there are lots of local firms that are trying to break that mold. I’m certain that there’s the talent here to do residential towers.”

John Ida, a founding partner of Urban Works Inc., told PBN that the local firms should get all or most of the design work. His firm has been located in Kakaako for about three decades, long before the current condo building boom.

“We do have talent here to do those kinds of projects,” he said. “It kind of gives us a bad image [that we aren’t], as if we can’t design great buildings here, but that’s not true. Hopefully it doesn’t put down the design community.”

Matt Gilbertson, president of Honolulu’s MGA Architecture, noted that every time a major project is awarded by a landowner or developer to a non-Hawaii firm it sends a ripple through the local architecture industry.

“Were we even given a chance to propose?” he asked. “A landowner has the right to do what they choose. There are no unions for architects and owners have a right to develop their site for whomever they want.”

Gilbertson pointed out that architecture is a competitive business, and the fact that Hawaii firms are getting left behind for the design work of these highly visible structures shows how the industry has to compete even harder for this type of work.

“Architects in Honolulu have been put in the second seat, unfortunately,” he said. “I’ve lived in multiple cities, and it’s not something Hawaii architects should be hyper-sensitive about. There are people who have chosen to play at the world stage.”

Craig Takahata, vice president and managing director of Honolulu-based WATG, which is trying to get more work in the state after years of putting more of its focus towards other markets, told PBN that he thinks the opportunities will eventually come.

“Interestingly, every developer asks to see your qualifications and work, so if some of the local firms don’t have that experience, they would need to get that experience elsewhere,” he said.

Seeking Talent

The Howard Hughes Corp. utilizes, on all of its high-rise projects, a pairing of a local firm with a Mainland or international firm for a number of reasons.

“We really made an effort to look for some of the most talented designers anywhere in the world, who are doing projects all over the world,” Nick Vanderboom, senior vice president of development for The Howard Hughes Corp.’s Ward Village, told PBN. “They bring a unique perspective and they have the best and brightest people working with them. Teaming local with international, we get the best results. We’re able to have a mixing of ideas and concepts.”

The Texas-based developer’s core buyer, which it says mostly comes from the Islands, really appreciates the uniqueness of an internationally known architect designing their first building in Hawaii, he said. It may even mean more than it might to project’s Mainland or international buyers

“We do that because it appeals to our buyers and creates an interesting skyline environment,” Vanderboom said. “It’s not always the same for every project. For our Ward Village Gateway project, we are very excited about bringing in Richard Meier to Honolulu. He has designed museums all over the world, among other things. For that project, we went through a very unique process. We did a request for qualifications to a lot of different firms and then shortened that list to four, eventually choosing Meier.”

He also noted that it worked and consulted with Paul Goldberger, an architecture critic who also is a contributing editor for Vanity Fair magazine.

“He actually very rarely does work for private clients,” Vanderboom said. “He worked with us in divvying up proposals. That was an important part of the process selecting international firms.”

When selecting local firms, The Howard Hughes Corp. used a similar process as for the selection of the international firms.

Honolulu firms that are part of the architecture teams include WCIT Architecture for the condominium Waiea, Benjamin Woo Architects on Anaha, CDS International on 988 Halekauwila, and Architects Hawaii on the Whole Foods and Gateway projects.

“We are familiar with these firms,” Vanderboom said. “It was a very intensive and long process.”

New Ideas

He contends that it didn’t choose all local architects for its condo projects because the people it is working with are very specialized international firms with unique styles.

“There really is no one else in the world who does it exactly the way they do it, and if you’re looking for something truly unique, we find that by going to the international firms, it brings new ideas to the market,” he said. “It doesn’t mean we don’t have talented firms here. We really rely on them tremendously. It’s just looking to bring new and unique ideas and innovations. Ultimately, it will create an interesting skyline that appeals to retailers and potential residents who live in Ward Village.”

MGA Architecture’s Gilbertson says that The Howard Hughes Corp.’s mission certainly hasn’t been to showcase local architects.

“Their audience is a worldwide audience and to attract worldwide attention,” he said. “This is an international sale, not for local folks, the price tag in general.”

Gilbertson says it should be no surprise that The Howard Hughes Corp. has been talking to the top architecture firms in the nation and world, given that market-driven ambition.

“It just happens,” he said. “All small architectural environments like ours have to realize that, when the world market is watching, we have to take a back seat. It happened to me in Minneapolis. It is just part of the lay of the land.”

Choosing a Mind-set

In general, the choosing of a design firm comes down to the mind-set of the development and developer, where design is playing a role in the project, according to Gilbertson, who pointed out that if a design is a signature piece like Ward Village’s Anaha and Waiea, design is the differentiator.

“When it’s at an apartment building or affordable housing level in Honolulu and design isn’t a distinguishing characteristic, that’s when a local architect makes sense for the developer,” he said. “When they need to sell the sizzle on a world stage, they need to pull some considerable names. It doesn’t surprise me given the client, the luxury level [The Howard Hughes Co.] is trying to pursue.”

To Gilbertson, it’s not that Hawaii lacks talent in this area, but if an architect anywhere is great, and their work isn’t seen, getting noticed is tough to come by.

One way local architects can get involved is through the permitting or public outreach stages.

“Then there’s purely being a production architect,” Gilbertson said. “In the Mainland, there are designers and architects, designers design drawings and architects put it together. In Hawaii, architects do the designs in most cases.”

The only type of work his firm doesn’t do is high-rise condo work, mainly because it is a young firm, thus it does not yet have the reputation to do such towers.

“Doesn’t mean that we can’t do it,” Gilbertson said. “We would like to do high-rises. It’s a very interesting building type and design exercise. It’s one of the more sculpturally interesting building types.”

Not all the local architecture firms want to get involved in designing Honolulu’s newest skyline.

Honolulu’s Group 70 International, one of the largest architecture firms in the state, takes itself out of equation by avoiding high-rise condo work for a reason that may not occur to people outside of the industry — the issue of project insurance.

Without it, the firm is subject to possible lawsuits down the road.

“Condos have had a consistent track record of taking the contractor and architect to court,” Charles Kaneshiro, president of Group 70, told PBN. “If there is project insurance, we would be happy to get involved. It is significant enough [of an amount] that most developers won’t [get project insurance].”

He noted that developers or landowners have approached them to get involved in projects, but usually the question of project insurance for high-rises comes up.

“We do low and mid-rise projects without project insurance,” Kaneshiro said. “These are much easier to handle, dealing with fewer owners and it’s a smaller project in general.”

Urban Works also does not go after high-rise condo work.

“Our insurance doesn’t like [Association of Apartment Owners], so we haven’t gone for any high-rises that are condominiums,” Ida said.

Kaneshiro says that there is certainly enough talent in Hawaii to do high-rise condo work, but proving it is hard to do when the opportunity never arises.

But that’s why Group 70 recently hired Ma Ry Kim, a Kailua High School graduate, who was the former Gensler Europe design director.

“She has done high-rises and signature buildings,” Kaneshiro said. “Can people local do it? How many have had that opportunity to live in the places she’s lived and then come back to Hawaii? That’s a rarity.”

He said that one good thing about having internationally acclaimed architects in town designing buildings is that it raises the profile of architecture in the state, providing other design points of view on what a Hawaii building could be, or should be, something people can then debate.

“It gives us some variety here that we didn’t necessarily have in the past,” Kaneshiro said. “It gives developers a marketing strategy. There’s a lot of work out there for local firms to pursue as well.”

The American Institute of Architects, Honolulu Chapter, told PBN it does not have a position on the issue of high-rise condo work mostly going to firms not from Hawaii.

Locally designed landmarks

While many current high-profile high-rise commissions are being designed by Mainland or international firms, the Honolulu skyline does boast notable high-rises by local architects, including hotels, office buildings and condos, such as:


Locally designed landmarks

While many current high-profile high-rise commissions are being designed by Mainland or international firms, the Honolulu skyline does boast notable high-rises by local architects, including hotels, office buildings and condos, such as:

Hyatt Regency Waikiki
1976
Wimberly Whisenand Allison Tong & Goo (now WATG)

Admiral Thomas
1980
Warner Boone

Grosvenor Center
1981
(now Pacific Guardian Center, home of PBN)
Architects Hawaii

Honolulu Tower
1982
Norman Lacayo

Honolulu Park Place
1989
Norman Lacayo

One Waterfront Towers
1990
Warner Boone

Harbor Court
1993
Norman Lacayo

Moana Pacific
2007
Architects Hawaii

909 Kapiolani
2007
Media 5 Architecture

Capitol Place
2008
Benjamin Woo Architects

Hokua
2006
Benjamin Woo Architects

Sources: “Architecture in Hawaii, A Chronological Survey” by Rob Sandler and Julie Mehta; firm websites.

Duane Shimogawa Reporter – Pacific Business News

Filed Under: Blog, Featured Blog, Honolulu, HONOLULU Tagged With: American Institute of Architects, Architects Hawaii, Harvard University, Howard Hughes Corp, Pacific Guardian Center, Talent The Howard Hughes, The Howard Hughes, Urban Works, Waterfront Towers 1990 Warner Boone Harbor Court 1993 Norman Lacayo Moana Pacific 2007 Architects Hawaii, Whole Foods

Alexander & Baldwin sells half of former Kawamoto-owned Kahala properties

April 21, 2015 By Mark G. Howard Leave a Comment

This home in Honolulu’s Kahala neighborhood is one of the properties formerly owned by Japanese businessman Genshiro Kawamoto before it was rehabilitated and marketed by Alexander & Baldwin.

This home in Honolulu’s Kahala neighborhood is one of the properties formerly owned by Japanese businessman Genshiro Kawamoto before it was rehabilitated and marketed by Alexander & Baldwin.

Alexander & Baldwin Inc. has sold about half of the Kahala properties it acquired from Japanese businessman Genshiro Kawamoto in 2013, the Honolulu-based real estate firm said in its 2014 annual report released Monday.

A&B had purchased the 30 “Estates of Kahala” properties for about $128 million.The sales as of Dec. 31, 2014, had generated a total of $82.5 million, the company reported.

The properties were in various stages of disrepair, and A&B began immediately to prepare them for sale.

In 2014 alone, A&B generated $38.4 million in sales from the properties, with 14 remaining on the market, including six large oceanfront parcels.

A Hawaii real estate expert previously told PBN that the properties could fetch at least $200 million.

Duane Shimogawa Reporter – Pacific Business News

 

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Filed Under: Blog, Featured Blog, Kahala, KAHALA AREA, Luxury real estate Tagged With: Celebrity home Honolulu, Celebrity Homes Honolulu, Luxury Estate Honolulu, Luxury Experiences Honolulu, Luxury Home Honolulu, Luxury Homes Honolulu, Luxury Honolulu, Luxury Living Honolulu, Luxury Mansion Honolulu, luxury real estate Honolulu, Luxury Villa Honolulu, LuxuryHomes Honolulu, LuxuryHomes.com Honolulu, Mansion Honolulu, Million Dollar Estates Honolulu, Million Dollar Home Honolulu, Most expensive Honolulu, Ocean View Honolulu, Penthouse Honolulu

California firm to redevelop Honolulu property into 26-unit project

April 19, 2015 By Mark G. Howard Leave a Comment

kauhale-600xx923-615-0-43A California firm has purchased a little more than two acres in the Honolulu neighborhood of Kalihi, with plans to redevelop the 22 structures on the land into a 26-unit complex.

The development is scheduled to break ground on Monday, the real estate agent handling sales for the project told PBN.

Gregory Owen, founder and CEO of Vacaville, California-based Blue Mountain Homes LLC, is the developer for Kauhale Gardens, which includes 16 new single-family homes and five duplexes, with prices ranging from $425,000 to $725,000.

The development team includes Primary Properties Inc., which is handling sales; Imanaka Asato as the project’s attorney; Seal Pros Hawaii as the general contractor; Primary Residential Mortgage as the lender; TN Designs as the architect; and Lyons & Associates as the civil engineer.

The single-family homes will include three bedrooms and two bathrooms as well as two parking spaces.

There will be one newly built duplex and four renovated duplexes.

Cameron Higgins, a Realtor-associate with Honolulu-based Primary Properties, told PBN that the project’s infrastructure should take about a month to build. The plan is to begin selling homes in June or July.

Blue Mountain Homes is a family-owned company with more than three decades of acquiring, restoring and selling single-family homes.

California-based Polymathic Properties Inc. purchased the property in October 2014 from another California-based firm, UHC Kauhale Ohana LP, for $3.3 million, according to public records.

UHC Kauhale Ohana acquired the property for $4.5 million in 2008.

Duane Shimogawa Reporter – Pacific Business News

Filed Under: Blog, Featured Blog, New Homes Tagged With: Blue Mountain Homes LLC, Kauhale Gardens

New hotel tower planned for Waikiki

April 17, 2015 By Mark G. Howard Leave a Comment

A new hotel project in Waikiki is being planned by a Hawaii developer with ties to a partner on the Mainland, an executive with the Honolulu architecture firm that’s part of the project confirmed to PBN.

The new tower, which is in the very early stages of the development process, would be built from the ground up — not a renovation or expansion of an existing property, Craig Takahata, vice president and managing director of WATG, told PBN.

Initial studies are being done on the property, which involves WATG’s high-rise expertise in order to maximize investment and work with development allowances, he said.

Takahata declined to identify the developer, or the exact location of the project.

New hotels built from the ground up are a rarity in the state’s tourism mecca.

There’s California developer Irongate’s Ritz-Carlton, Waikiki Residences two tower project on Kuhio Avenue, which are currently both under construction. Although this project will have a hotel component, it will include also consist of condominium for-sale units.

Plans have also been announced for redevelopments of certain existing properties, such as the King’s Village shopping center by the development team of The MacNaughton Group, Kobayashi Group and BlackSand Capital, which also is being turned into a condo-hotel, like the Ritz project.

There’s also the possible redevelopment of the Waikiki Trade Center into a hotel, according to California-based Coastwood Capital Group, the firm that owns the property.

Additionally, the 659-room Ohana Waikiki West hotel is expected to close down on March 27 for a redevelopment by the new owner — partnership that includes Honolulu’s BlackSand Capital — and reopen next year as the Hilton Garden Inn Waikiki Beach.

The Hilton Hawaiian Village Waikiki Beach Resort also is getting a new 37-story timeshare tower.

The development action in Waikiki comes as no big surprise, as the area continues to enjoy higher revenue per available room and average daily rates as well as occupancy rates.

Duane Shimogawa Reporter – Pacific Business News

Filed Under: Blog, Featured Blog, Waikiki, WAIKIKI Tagged With: Waikiki commercial real estate, waikiki deveopment

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  • Luxury Estates $6M – $8M
  • Luxury Estates $8M – $10M

Kaka’ako High-Rise

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Ko Olina Beach Resort

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