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Kawamoto out on bail after being jailed on Japan tax evasion charges

April 17, 2013 By idx guys Leave a Comment

Staff Pacific Business News  |  Apr 17, 2013, 6:59am HST

Japanese real estate investor Genshiro Kawamoto

Japanese real estate investor Genshiro Kawamoto

Japanese real estate investor Genshiro Kawamoto, who owns more than two dozen homes in Honolulu’s posh Kahala neighborhood, was released from a Tokyo jail nearly a month after being arrested on tax evasion charges tied to his commercial real estate holdings in Japan.

Japan Today reports Kawamoto was released on bail after posting about $5 million in cash on March 28, more than three weeks after he was arrested on charges that he spearheaded a plot to cover up some $35 million in rental earnings to avoid paying some $10 million in taxes over a three-year period ending in December 2011.

Hawaii News Now reports Kawamoto is accused of using some of that money to buy statues and other items for his properties in Kahala. Hawaii News Now reports that while on bail, Kawamoto is prohibited from leaving Japan.

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Filed Under: Featured Blog, Kahala, Luxury Condos for sale, Luxury real estate, Pacific Business News Tagged With: Hawaii luxury real estate, Honolulu luxury condos, luxury properties in Hawaii

The most expensive real estate markets in the world

March 28, 2013 By idx guys Leave a Comment

The most expensive real estate markets in the world
CNBC.comBy Bianca Schlotterbeck | CNBC.com

The number of high net worth individuals – people with more than $30 million in investable assets – is forecast to rise by 95,000 over the next decade, according to Wealth-X, a wealth intelligence firm. The result is that each year there are more people who want, and more important, can afford, luxury properties.

While demand is ever-rising, the stock of desirable locations remains virtually static, meaning capital inflows concentrate on a few hotspots, pushing prices upward.

Knight Frank found locations in Asia-Pacific tended to be the biggest gainers, but old favorites such as London continue to perform well. Meanwhile, the biggest threat to property markets is their own popularity, as the lack of local affordability can become a political issue, prompting governments to impose cooling measures. Consequently, several areas in the top 10 were subject to new regulations in 2012.

Click ahead to see the world’s top five most expensive property markets in 2012, and find out how much prices rose or fell during the year.

5. Paris

$2,350–$2,600 per sq. ft. ($25,300-$28,000 per sq. m)

ParisAverage price change in 2012: -4.0%

Experts say Paris is the city with the most potential to compete with London for foreign property investors. However, it was dealt a dual blow in 2012 by the euro zone crisis, and the new socialist government’s proposed 75 percent wealth tax. As a result, property prices fell by 4 percent.

President Francois Hollande’s proposals caused more than a few potential buyers to reconsider, and some owners to leave the country. The market saw buyer interest shift to Monaco, the Italian Riviera and Switzerland, according to Knight Frank.

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4. Geneva

$2,720–$3,010 per sq. ft. ($29,300-$32,400 per sq. m)

Average price change in 2012: -6.0%

Prime property prices fell by 6 percent in Geneva in 2012, due in part to stricter mortgage policies and uncertainty regarding a new set of laws and taxes.

However, Knight Frank said prices in Switzerland are set to rise again, as the country is forecast to see a 27 percent rise in its high net worth population between 2012 and 2022. Strict planning regulations will also curtail new developments in hotspots like Cologny in Geneva, where the house pictured is located.

Geneva’s on-going popularity is explained by its position as a global financial center, its excellent schools, safe environment and the Alpine ski resorts on its doorstep, plus Switzerland’s political stability.

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3. London

$3,890–$4,300 per sq. ft. ($41,900-$46,300 per sq. m)

Average price change in 2012: +8.7%

One of the most renowned safe haven markets in the world, London property prices increased by 8.7 percent in 2012, despite a new stamp duty tax on properties worth over 2 million pounds ($3 million).

The London property market was fueled by money from continental Europe in the first half of 2012. Then as fears the euro might collapse dissipated during the summer, Europeans buyers were increasingly replaced by those from the Middle East, Asia, Africa and Russia.

The property boom looks set to continue in 2013, with the average price of prime central London property rising by 0.9 percent in February, the highest rate in 10 months, according to Knight Frank. Prices have risen every month since November 2010, and are now 55 percent above the March 2009 market low.

“London is like a separate economic zone, it is the global investment destination of choice among global investors at the moment and I think that will continue,” Richard Tice, CEO of property investment company CLS Holdings, told CNBC.

A recent Vanity Fair article on the owners of London apartments, such as the 6,000 ($9000) per sq. ft. one pictured here, read like a cross-section of some of the world’s richest people, including Arab sheikhs, Nigerian oil billionaires, and supermodel Naomi Campbell’s Russian oligarch boyfriend, Vladislav Doronin.

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2. Hong Kong

$4,570–$5,050 per sq. ft. ($49,200-$54,400 per sq. m)

Average price change in 2012: +8.7%

The Hong Kong property market is so hot the government is fighting to cool it down. Despite new restrictions – notably an extra 15 percent stamp duty for foreign buyers, including those from mainland China – the rate of price increase almost doubled in 2012 to 8.7 percent, up from 4.6 percent in 2011.

A million dollars will only get you about 200 square feet (19 square meters) in Hong Kong, with a villa on The Peak, such as the one pictured here, costing considerably more.

Knight Frank put the city’s popularity down to strong demand from both local and international owners, and investors who see the city as an international financial hub with a strategic geographic location and a liberalized economy.

Nevertheless, the government cooling measures are expected to impact property prices and Knight Frank forecast prices will move up or down by 5 percent.

1. Monaco

$5,350–$5,920 per sq. ft. ($57,600–$63,700 per sq. m)

Average price change in 2012: 2.0%

The principality of Monaco has a reputation for being a playground for the super-rich. With only 36,000 people, it is renowned for its casinos, yacht-filled marinas and the Formula One Grand Prix.

The price of its property reflects this. A million dollars will buy you only about 170 square feet (16 square meters) in prime central Monaco, with housing developments such as the Tour Odeon, pictured here, going for roughly €60 ($77.90) per sq. m.

Top-end real estate in Monaco has benefited from a shift away from Paris, with prices up 2 percent in 2012 after France proposed a 75 percent top rate of tax. In addition, neither individuals nor companies resident in Monaco pay income or business tax, making it likely to remain a favorite destination for investors looking for safe haven assets.

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Filed Under: Condos for sale Oahu, Luxury Condos for sale, Luxury real estate, luxury real estate Oahu Tagged With: Hawaii luxury real estate, Honolulu luxury condos, Honolulu luxury properties, luxury, luxury properties in Hawaii

Going once: Hualalai Resort estate to be sold at auction

February 23, 2013 By idx guys Leave a Comment

Going once: Hualalai Resort estate to be sold at auction

Janis L. Magin Managing Editor of Digital Content- Pacific Business News | Feb 22, 2013, 4:49pm HST

Three years ago, Wayne Lau was a bidder in the auction of a luxury home on Hawaii’s Big Island owned by the entertainer Cher.

Now he’s selling his own Hawaii property — a 10.056-square-foot custom home in the Hualalai Resort on the Big Island — in a March 18 auction co

"Hale Ku Mana" at the Hualalai Resort on Hawaii's Big Island will be sold at auction on March 18.

“Hale Ku Mana” at the Hualalai Resort on Hawaii’s Big Island will be sold at auction on March 18.

nducted by Concierge Auctions, the same firm that sold Cher’s house at Hualalai Resort for $8.7 million.

Lau’s 1.33-acre property, “Hale Ku Mana” or “House of Spiritual Healing,” will be sold in cooperation with Hawaii Life Real Estate Brokers, which is currently starring on its own show on cable’s HGTV.

The house was originally offered for $18.5 million. Forbes magazine included it in a feature last May about “homes with incredible showers and bathtubs.”
“It’s completely private, the landscaping is immaculate and each of the five bedrooms is a master suite, four of which have ocean views, which is rare,” Hawaii Life Realtor Beverly Molfino said in a statement, noting that the house is surrounded on three sides by the members-only Keolu Golf Course. “It truly is a one-of-a-kind home that requires an equally unique buyer on auction day.”

Lau has been following the auction firm’s activities since bidding on Cher’s house.

“Living in the Far East and Geneva, I am also familiar with how the finest pieces of art are sold through global auctions,” he said in a statement. “It seems natural to sell the finest of homes in the same way.”

The property also comes with rights to all the amenities of the nearby Four Seasons Resort Hualalai.

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Filed Under: Luxury real estate, Pacific Business News Tagged With: Hawaii luxury real estate, luxury estates, luxury properties in Hawaii

BEACHFRONT KAILUA ESTATE 1/2 ACRE – Offered at $12,848,000

April 15, 2011 By idx guys Leave a Comment

112A S Kalaheo Ave  Hr1105063-1
Kailua, HI 96734

Price: $12,828,000

Your 30% Buyer Rebate for this property at the price showen above would be $115,452.00 that you could use for closing costs, maintanance or even cash back if your lender approves.

8 Bedrooms
8 Bathrooms

7519 Square Ft

Listing # 1104327

To secure your 30% commission rebate – contact us now

BEACHFRONT KAILUA ESTATE 1/2 ACRE.Beautiful island style 2008 residence designed by award winning architect Peter Vincent. Expansive pool w/travertine decking surrounded by lush landscaping & swaying palms. Gorgeous ocean & sunrise views w/endless ocean activities right at your door. Separate guest house, maids qtrs,  media rm & all amenities make this a tropical paradise ready for your enjoyment.

Basic Features:
Acres: 0.592
Region: Kailua
City Name: Kailua
County Name:
Neighborhood: BEACHSIDE
Schools: Kailua
State: HI
Zip: 96734
Bathrooms: 8  |  Bedrooms: 8  |  Partial Baths:
Square Ft: 7519
Additional Rooms: Dining Area,Laundry Room,Media Room,Open Lanai
Amenities: Landscaped,Lawn Sprinkler,Maids/Guest Qrters,Patio/Deck,Sauna,Wall/Fence
Construction: DoubleWall,Masonry/Stucco
Frontage: Ocean,Sandy Beach
Interior Living Area: 6551
Land Area: 25806
Lot Description: Other
Parking: 2Car,Driveway,Garage
Pool: Heated,In Ground
Prop Condition: Excellent
Property Type: Residential
Stories: Two
View: Ocean,Sunrise
Year Built: 2008
Land Tenure: Fee Simple
Hr1105063-3
Hr1105063-7
Hr1105063-8
Hr1105063-10
© 2011 HiCentral MLS, Ltd. Information is deemed reliable but not guaranteed. Based on information from the Multiple Listing Service of Hicentral MLS, Ltd. Listings last updated on Saturday, April 9th, 2011. Some of the active listings appearing on this site may be listed by other REALTORS®. If you are interested in those active listings, our company may represent you as the buyer's agent. If the active listing you are interested in is our company’s active listing, you may speak to one of our agents regarding your options for representation. Listing courtesy of Choi International.
Data services provided by IDX Broker

"Don't forget about our special Buyer Rebate Program that we offer – which is 30% of our commission is paid back to you the Buyer, as a rebate – in other words if you purchase a property for $500,000 you would receive $4,500.00 back to use for your closing costs, new carpet or paint, furniture or anything you like even cash if your lender approves"


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Filed Under: Oahu Island Tagged With: Hawaii luxury real estate, Honolulu, million dollar properties, ocean front properties

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