We’re back with our monthly recap on the Hawaii Commercial Investment Real Estate market. Check out our thoughts and let us know if you have any questions or need more information on any of these sales/properties. This video is from March, to receive these posts at launch, please reach out directly and we’ll add you to our list.
Attorney Dennis Hwang offers a well reasoned argument as to why we need to build the rail to Ala Moana. Voices like his need to be heard and I’m happy to share this article with our readers. [Photo Info: The photo above is from the groundbreaking ceremony held in February 2011 and pictures Senator Daniel Akaka and the late Senator Daniel Inouye. Senator Inouye was a true champion of the project and his steady voice remains with us as we push forward. Photo courtesy of HART] “Should Honolulu build a $7 billion dollar rail system that stops at Middle Street, has perhaps half the ridership originally planned for and is a drain to operate? Lost riders include those from Leeward or Central Oahu who could get to downtown, Chinatown,or Ala Moana quicker by car or by bus rather than rail and then another bus at Middle Street. Airport tourists would hesitate to ride the rail to Middle Street, but might if it went to Ala Moana. Lost would be thousands of tourists and townies at …
After posting more than 170,000 square feet of positive absorption over the past two quarters, the Oahu office market changed direction and recorded 63,698 square feet of lost occupancy for the second quarter of 2016.
Mike Hamasu, Nathan Fong, Bill Froelich, Brandon Bera and Sarah Morihara talk about the market with the Real Property Financial Services Section of the Hawaii State Bar Association (RPFSS – HSBA)
In our weekly industrial meetings, this question often comes up; In a vacancy rate environment of less than 2%, and an industrial market of less than 40m square feet supporting almost 1m permanent residents and 8.5m tourists, why isn’t more industrial development?
Despite continued strength in Hawaii’s visitor industry, the total volume of Hawaii hotel transactions dropped by 63% in 2015 while the number of transactions dropped by 17%.
We at Bratton Realty Advisors are seeing an increasing interest from Asian investors in Hawaii properties. Dragon Hawaii Tours, one of the largest Chinese tour agencies in Hawaii, has just purchased the Makiki Bake Shop building located between Piikoi and Keeaumoku in Honolulu for their new island headquarters. The company will move its current Honolulu office to this new building after a remodel. These types of purchases are inspiring and we are seeing lots of Chinese companies invest in Hawaii real estate. Hopefully this trend will continue to bring investors, tourism, and strength to our Hawaii market. Read the full Pacific Business News article here