Hawaii Leads the Nation with Highest Industrial Warehouse Rents
2007-08-11 17:46:00
The industrial real estate market fell short of expectations during Q2, with demand slightly below anticipated levels, according to a report by Colliers International, the global real estate services firm. That said, rents managed a fairly robust increase during the April through June period.
Read more: Hawaii
, Leads
, Industrial
, Warehouse
, Rents
Hawaii luxury homes attract investors
2007-08-09 17:43:00
In recent years, Eovino has built business at his boutique real estate company Eovino and Associates Inc. around the belief that Hawaii
's luxury single-family home market will continue to be strong. Although Hawaii has long been popular as a luxury second home, investment and resort market, improvements in transportation and technology have now made it a more viable year-round alternative for high-end buyers, who view it as good value relative to other destinations, Eovino said.
Maui Land's Loss Widens in 2Q
2007-08-07 22:36:00
KAHULUI, Hawaii — Property developer and pineapple grower Maui Land & Pineapple Co. reported Friday its loss widened in the second quarter due to expenses from its exit of the pineapple canning business. For the period ended June 30, Maui Land posted a net loss of $3.5 million, or 44 cents per share, compared with a net loss of $2.6 million, or 36 cents per share, in the same period last year.
Short Sales – Hawaii Buyer Beware!
2007-08-05 18:39:00
Recently, more short sale properties have come on the market. A short sale is a situation where a property seller needs to sell and the sale proceeds are not sufficient to pay off the existing mortgage. It is an alternative to foreclosure. The term short sale or short pay refers to a process whereby the mortgage company must agree to a reduced payoff for the sale to take place. All sale costs must be included and the seller receives nothing, except debt relief and not have a foreclosure on their record.
Read more: Hawaii
, Short
, Sales
, Buyer
, Beware
, Short Sales
Oahu property sales continue drop in July
2007-08-03 19:57:00
Low inventory, especially in popular markets like East, Metro and Windward Oahu, gave sellers a bit of an edge last month and increased the pace of sales as buyers coped with a relatively narrow selection. Still, rising interest rates and prices forced sellers to remain reasonable in view of a continually declining pool of qualified buyers.
Read more: property
Oahu has highest industrial rent in U.S.
2007-08-01 23:44:00
Honolulu has the highest
industrial rents in the nation, according to a new report.Average rent for industrial warehouse space in Honolulu in June was $14.28 per square-foot, according to the industrial real estate market report released Tuesday by Colliers International. That was far above the No. 2 market in the country, San Francisco Peninsula-San Mateo, where industrial rent was $10.92 per square-foot. In third and fourth place were San Diego, with rent of $9.36 pre square-foot and West Palm Beach, Fla., at $9.30 per square-foot.
Melton rode momentum stocks to 23.7 percent gain at midyear
2007-07-30 22:48:00
Local stock expert Dwight Melton
jumped aboard the stock market express during the first half of the year and rode the momentum
to a 23.7 percent gain. That put Melton, co-founder of the Hawaii Stocks and Options Group, in a commanding lead in the Star-Bulletin's sixth annual survey of best investment ideas.
Firm plans Waikiki rentals
2007-07-28 17:59:00
A Japanese investment group is planning a rare rental apartment project in Waikiki
.Currently dubbed the Ala Wai Garden Plaza, the $26 million project at 447 Namahana St. is expected to offer one-bedroom units at market rates. Two levels of the six stories will be for a parking garage, while the remaining four will be for residential units. SBI Hawaii Property One Inc. plans
a 44-unit building on a half-acre lot adjacent to the Royal Gardens hotel in Waikiki. The parcel was formerly part of the hotel's lawn and swimming pool.
Honolulu among highest priced cities for parking
2007-07-26 17:30:00
Downtown Honolulu
has the third-most expensive daily parking rate among 51 U.S. markets, according to a new survey. Honolulu's median cost was $32 a day, or just behind the $34 median cost in downtown New York City and $33 in Boston. The survey conducted by Colliers International, a commercial real estate company, also found parking cost $42 a day in the Manhattan portion of New York City.
Read more: highest
Kohala Coast Luxury Hotel Up for Sale
2007-07-24 17:07:00
HONOLULU - The owners of the Fairmont Orchid Hawaii hotel on the Big Island's Kohala
Coast
have put the four diamond luxury resort up for sale. Boston-based real estate investment firm Westbrook Partners LLC bought the 540-room hotel two years ago for $250 million.
Read more: Luxury
, Hotel
, Kohala Coast
$57 million purchase of the Park Shore Waikiki Hotel by Sasada International
2007-07-22 18:53:00
The 226-room property was formerly owned by The Blackstone Group, a New York investment group. Sasada International
is headed by Masanori Sasada, the founder, chairman and CEO of Relo Group, a Japanese corporation that focuses on consulting services. The Relo Group also owns Hawaiian Relocation, which provides management services for Hawaii real property investments. The purchase of the Park Shore
Waikiki
Hotel
is the first step in Sasada's plans to offer up to 25 hotels worldwide.
Read more: million
Renovation of the King Kamehameha's Kona Beach Hotel on the Big Island.
2007-07-20 19:03:00
The new owners of the hotel say the 25 (m) million dollar project is slated to start next spring. The 460-room hotel is to remain open during the work.InvestWestFinancial/Pacifica Hotel
Company says it recently closed on the purchase of the property from Honolulu-based H-T-H Corporation.
Read more: Renovation
, Beach
, Island
Deployed troops get jump on Hawaii housing market
2007-07-18 20:53:00
Oahu's overall housing market has softened in terms of sales, but among some military buyers there's a sense of urgency to get into the market before home prices and interest rates rise. While Oahu's overall home- buying market might have slowed in terms of sales, transactions from military buyers are booming.
Read more: Hawaii
O'ahu home sale prices in June broke year-old records
2007-07-16 18:38:00
A record also was set for condominiums. They sold for a median $334,000 last month, up 7.7 percent from $310,000 in the same month last year. The previous record was $329,000 in July 2006.
Read more: broke
A&B plans to buy more property in Hawaii
2007-07-15 00:51:00
"We will call upon him to significantly increase our level of activity in the Hawaii
real estate market," said Michael Wright, the senior vice president to whom Parker reports. A&B owns 22 properties in Hawaii and 22 properties on the Mainland, 5.3 million square feet of retail, office and industrial space. It owns 89,000 acres in Hawaii including land in residential development.
Read more: property
, plans
Hawaii Residential Real Estate Market Stabilizes
2007-07-12 16:54:00
Not hot, not cold, Hawaii
's residential real estate market has stabilized, according to experts. According to the Hawaii Developers Council, which issued its annual mid year real-estate review Tuesday, the commercial property and office market isn’t doing so well.
Read more: Estate
, Market
, Real Estate
Hawaii County Council approves plan to preserve Kau land
2007-07-10 17:21:00
The Hawai'i County
Council
yesterday tentatively approved a plan to have the county try to buy and preserve 150 acres of coastal land in Ka'u that includes property where a developer wants to build a major new hotel and commercial project. The resolution, approved 8-0 by the council's Finance Committee, would instruct Big Island Mayor Harry Kim's administration to enter into negotiations to buy Punalu'u Beach Park and adjacent coastal property within 2,000 feet of the shoreline. The county now leases the beach park land from a private owner.
Read more: Hawaii
Oahu home, condo prices set record
2007-07-08 18:39:00
The median price of a single-family home on Oahu in June was $685,000, a 7 percent increase over June 2006 and breaking the record of $668,300 set in May 2006. The median price of a condominium last month was a record $334,000, breaking the previous record of $329,000 set in July 2006. The June median price for a condo also was nearly 8 percent higher than June of last year.
Big Island home prices dip
2007-07-07 14:48:00
Though the Big Island
garnered national publicity for being one of the hottest second-home markets earlier in the year, residential real estate on the Big Island
last month more closely resembled the old adage -- what goes up, must come down.
Longs hires Hawaii real estate broker
2007-07-04 17:44:00
Longs Drug Stores Corp. has hired a local commercial real estate broker to handle its transactions in Hawaii
, including planning, site selection and purchase and lease negotiations for new stores.
Read more: hires
Hawaii Groups Pitch in to Protect Land
2007-07-01 21:35:00
Community groups have joined with government agencies to buy 1.7 square miles of coastal land on Oahu's North Shore for close to $8 million to permanently protect the area from development.
Read more: Hawaii
, Groups
, Pitch
, Protect
Hawaii sell property via auctions
2007-06-29 21:06:00
Elite Pacific Properties, a rapidly growing real estate company on Oahu, will become the first Hawaii
real estate company to bet a portion of its future on the trendy real estate auction market.
Read more: property
, auctions
Hawaii Realtors Predict Home Prices Plateau
2007-06-27 16:11:00
New research shows that mainland housing sales are at a four-year low. Prices
have dropped 10 months straight. Traditionally, Hawaii
's real estate would trail those trends by six to nine months. However, some local realtors believe that this time sales will continue to plateau.
Read more: Realtors
King Kamehameha's Kona Beach Hotel has been purchased
2007-06-25 18:49:00
King Kamehameha's Kona Beach
Hotel
has been purchased by a Mainland hotel company and a group of Hawaii investors. The purchase is the first in Hawaii for InvestWest Financial/Pacifica Hotel Co., which owns and operates hotels in California and Florida, the company said Monday.
FirstService adds Colliers Hawaii to real estate platform
2007-06-23 17:09:00
Founded in 1973, Colliers Hawaii
is the leading commercial real estate service provider across the Hawaiian Islands. With more than 100 professionals operating from two offices, Colliers Hawaii advised on more than US$600 million in commercial real estate transactions last year and manages more than five million square feet of commercial property.
Barnwell Hawaii real estate holdings drops 75 percent
2007-08-15 19:21:00
The Honolulu-based company, which has real estate holdings on the Big Island, posted earnings of $743,000, or 9 cents a share, compared with $3 million, or 35 cents a share, a year ago. In the year-earlier quarter, Barnwell's 78 percent-owned real estate development partnership, Kaupulehu Developments, recognized net revenue of $6.2 million from a transaction.
Read more: Hawaii
Hawaii's Economic Outlook Will Be Damaged By Tax
2007-08-13 18:50:00
And while Hawaii
's property tax burden pales by comparison to those found on the mainland, the high assessed valuation of property in Hawaii becomes a tempting target for council officials who then must set the rate. In many cases, the elected officials don't take the political heat, blaming high tax bills on the assessed values caused by "speculators" on Hawaii properties. The time is now for public policymakers to address this growing tumor that government represents on the economic outlook. Let's hope they won't wait until it is again too late.
Read more: Economic
, Outlook
Hawaii costliest state to do business
2007-08-19 20:12:00
Hawaii is the most expensive state in the nation - 52 percent higher than the national average - for doing business, according to a report by the Milken Institute. It's the third straight year that Hawaii ranked No. 1 on the independent economic think tank's annual Cost-Of-Doing Business Index, which measures wages, taxes, electricity costs and real estate costs for industrial and office space.
Read more: Hawaii
Oahu home prices rise, sales fall
2007-08-17 17:31:00
There were 1,007 single-family homes sold during the May-July period this year, an 8.6 percent drop from the 1,102 homes sold during the same period in 2006, according to the report released Thursday by Prudential Locations. "Since the Hawaii real estate boom peaked in 2005, we attribute this downturn in sales as part of a normal market trend," said Scott Higashi, Prudential Locations' executive vice president of sales. "Even though there are fewer buyers and sellers in the market, the values of the homes that are selling are continuing to show positive growth."
Hawaii foreclosures accelerate in July
2007-08-22 13:20:00
Hawaii's foreclosure rate continued to rank near the bottom nationwide last month, according to data released yesterday, but the July rate registered a substantial increase over the same month last year. Although sales volume and in some cases prices are falling in some Hawaii neighborhoods, continued demand for island real estate has kept Hawaii's foreclosure rate low. Hawaii's foreclosure rate has been growing this year, along with the nation as a whole. However, foreclosures still have a limited footprint throughout the islands.
Read more: Hawaii
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