Original Article Hawaii developer The Resort Group has sold its share of the Four Seasons Resort Oahu at Ko Olina to its partner in the luxury hotel at Ko Olina Resort, a company owned by the richest man in Hong Kong, for an undisclosed amount. The sale of The Resort Group’s interest in the hotel […]
Original Article Oahu’s industrial market vacancy rate hit a seven-year high of 2.82% in the third quarter, mainly due to the addition of more than 450,000 square feet of new warehouse space, but the economic fallout from the Covid-19 pandemic is expected to push vacancy rates higher into next year, according to a new market […]
Original Article Several recent listings along S. King Street in Moiliili present opportunities for office tenants ready to buy their own buildings. Colliers International Hawaii recently listed 1809 S. King St., a corner property with two structures, for $1.98 million, and the three-story Pemco Building at 1632 S. King St. for $2.98 million, while CBRE […]
Original Article Private Label Collection will be the new manager of The New Otani Kaimana Beach Hotel beginning Dec. 1, when it changes its name to Kaimana Beach Hotel. The Wailea-based company also manages the Hotel Wailea on Maui. The New Otani Kaimana Beach Hotel filed a notice with the state Department of Labor and […]
Original Article Japan’s New Otani Co. Ltd. will close its only U.S. hotel in Hawaii at the end of November when the company’s lease expires with property owner BlackSand Capital, whose CEO said the boutique Kaimana Beach Hotel in Waikiki will reopen Dec. 1 under new management. The New Otani Kaimana Beach Hotel, which has […]
Original Article After being delayed for months, a much-touted pre-travel testing program that authorities say is a key step in rebooting the tourism industry will be launched Oct. 15, allowing trans-Pacific visitors to forgo a 14-day quarantine if they test negative for COVID-19. Gov. David Ige made the announcement Wednesday, saying reopening the doors to […]
Original Article Commercial real estate investment in Hawaii dropped in the second quarter as the Covid-19 pandemic and the ensuing recession slowed U.S. investment and put a halt to foreign activity, according to Colliers International Hawaii’s investment market report for the second quarter. Total sales volume for the first half of 2020 dropped 60.7% to […]
Original Article Salem Partners’ hotel-condominium project at 1500 Kapiolani Blvd. behind Ala Moana Center has won a three-year extension on its approvals from the Honolulu City Council as the developer restarts conversations to recapitalize the $542 million project. The council voted unanimously to extend the approvals for Manaolana AREP III Holdings LLC’s project on the […]
Original Article Few industries in Hawaii have taken more of a beating during the Covid-19 pandemic than hospitality, as hotels, restaurants and activity businesses had to severely curtail or shut down their operations when the state imposed a mandatory 14-day quarantine for visitors arriving from the Mainland or overseas. For hotels, the impact has been […]
Original Article Timing is everything. Just before COVID-19 broke out, ABC Stores purchased two derelict sites with a string of business vacancies along Kuhio Avenue. The sites are across the street from its upscale complex Dukes Lane Market & Eatery, which includes Basalt Restaurant and is located inside the Hyatt Centric Waikiki Beach Hotel. ABC […]
Original Article The state of Hawaii is on an exclusive list of 12 countries and regions that Japan leaders are considering for the resumption of safe international travel, officials announced today. The new Japan-Hawaii Safe Travel Program, announced by Japan Prime Minister Shinzo Abe and Foreign Minister Toshimitsu Motegi, would be tightly regulated to prevent […]
