Nearly half of the lots in a 25-lot residential subdivision on Oahu’s North Shore overlooking the famed Waimea Bay have been purchased for $6 million from a Hawaii family by a Chinese investor.
The 11 lots, which total a little more than two acres, at The Bluffs at Waimea were sold to an entity called Dhara LLC by the Burger family, according to public records.
Hawaii businessman D.G. “Andy” Anderson was a consultant on the project
Dhara, which was formed in July and lists Shaoxiong Huang as its manager, recently bought the 11 lots, including one with a home on it, from the Burger family, which is keeping two of the lots.
Deborah Macer Chun, a partner with Honolulu-based Chun Kerr LLP, who is listed as the attorney representing Dhara, declined comment.
The Bluffs at Waimea Bay is located on a hillside between Waimea Bay and Haleiwa town. The 23 lots being sold range from 7,500 square feet to 15,630 square feet, and homes have already been built on five of the lots.
The purchase represents another example of Chinese investors’ appetite for Hawaii real estate.
Another example included Thai-Chinese businessman Chanchai Ruayrungruang’s Reignwood Group.
As PBN first reported, the group became Hawaii developer Jeff Stone’s financial partner for 1,103 acres, including the Prince Golf Course at the Princeville Resort in Hanalei on Kauai’s North Shore, in a deal worth $343 million.
Chinese investors are expected to spend more than $175 billion during the next few years acquiring real estate around the world, including Hawaii.