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Japanese billionaire Kawamoto may be selling — or has sold — his Hawaii properties

September 3, 2013 By idx guys Leave a Comment

Sep 3, 2013, 7:23am HST

Staff Pacific Business News

Japanese billionaire Genshiro Kawamoto may be preparing to sell — or has already sold — some of his more than two dozen properties in the upscale oceanfront Kahala neighborhood in Honolulu.

Japanese real estate investor Genshiro Kawamoto

Japanese real estate investor Genshiro Kawamoto

Hawaii News Now reports Richard Turbin, a local attorney and Kawamoto neighbor, said he was told a large Japanese corporation based in Tokyo has purchased the Kawamoto properties and plans to put them on the market.

Hawaii News Now reports that preliminary title reports have also been pulled on a majority of Kawamoto’s 27 Kahala properties, which real estate agents say its a first step in a sale.

Kawamoto has been fined thousands of dollars this year for allowing his properties to deteriorate, under a new law that requires homeowners to clean up their properties or pay stiff fines. Earlier this year, Kawamoto was jailed for three weeks in Tokyo after being arrested on tax evasion charges tied to his Japan real estate holdings.

 

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