Walgreens has announced that they will be opening its 12th store in the Hawaiian islands at the Koko Mariana Shopping Center. Company officials stated that this particular Walgreens will also offer locally grown produce and groceries in additional to their usual items. The store will occupy the former Foodland location and should be open as early as May 2012. Also opening in that location will be a new Petco store, which will sublet half of the space from Walgreens.
Source: Honolulu Star Advertiser, 2-29-2012, www.staradvertiser.com
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Wednesday, February 29, 2012
Hawaii Tourism Outlook Upbeat for 2012
State of Hawaii’s acting chief economist, Eugene Tian, stated, “This year looks like tourism will be the star of growth for Hawaii’s economy.” Tian noted that the state’s official forecast was that there will be a 4.4 percent increase in visitor arrivals in 2012 and a 6.4 percent increase in spending. These projections are supported by the fact that there has been a 7.7 percent increase in the number of scheduled air seats to Hawaii for the year.
Economist Paul Brewbaker, the principal at TZ Economics, added, “My sense is that people have been way too negative. The actual tourism performance at the end of 2011 confirmed the hypothesis that Japan’s seismic event and geopolitically rooted oil-pricing sunrises should not frame the forecast for 2012 and beyond.”
Source: Honolulu Star Advertiser, 2-29-2012, www.staradvertiser.com
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Tuesday, February 28, 2012
Hawaii #1 in Country for Health and Well Being
According to the 2011 Gallup-Healthways Well-Being Index, Hawaii once again leads the nation. For the third year in a row, Hawaii was ranked number one in terms of health and well being, with a score of 70.2 out of 100. Lead research for Gallup, Daniel Witters, stated, “Hawaii is an elite well-being state. Compared to the other 49, this is a state that has a lot of things going for it.” Witters also commented that being a healthy state has many advantages. Witters added, “Increased well-being is vital to improving the physical, emotional and financial health of Americans. It is an effective predictor of health care costs, job performance and productivity.”
Specifically, Hawaii ranked #1 in the country for emotional health, which includes happiness, stress and depression. Hawaii was also #1 in the country for healthy behavior, which factored in smoking, eating and exercise habits. However, Witters did note that 23 percent of the population is obese, which is still lower the the 26.1 percent of Americans across the nation. Witters noted, “That right there gives you something to work on. While I think Hawaii is sort of the standard bearer for the nation, I think it also should be trying to set a good example as far as continuing to (strive) to improve.”
Source: Honolulu Star Advertiser, 2-28-2012, www.staradvertiser.com
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Monday, February 27, 2012
Kalia Marketplace Project Update
The Kalia Marketplace will be located along Ala Moana Blvd, next to the Ala Wai Small Boat Harbor in Waikiki. Japanese developer, Honey Bee USA Inc, had originally planned to build two buildings that would house two wedding chapels in the harbor and add some commercial and retail space at the cost of $9.7 million. However, new plans call for a total of three buildings with 40,000 sq ft of interior and a 17,000 sq ft boat repair facility at a total cost of over $20 million. If the final permits are approved, the company hopes to begin building in May and have the project completed by March 2013.
For the most part, the project is being received favorably, and many commercial real estate experts are excited that the Ala Moana section of Waikiki will be getting a major face lift. Waikiki real estate appraiser and analyst Stephany Sofos stated, “It could be a good opportunity for the right people. This will give people who are not boaters a chance to come down to the water’s edge and meander and watch the boats and see the fish.”
However, some members of the Waikiki community are unhappy that Honey Bee USA Inc. has not allowed residents the opportunity to review or make comments about the increased size of the project. President of the Makai Society for Maritime Lifestyles, Janet Mandrell, commented, “What we need is for them to provide an improved boat yard, haul-out and other maritime-related services. That’s what makes a world-class marina. Instead, we got a boat yard next to a wedding chapel. How’s that going to work out?”
Source: Honolulu Star Advertiser, 2-27-2012, www.staradvertiser.com
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Sunday, February 26, 2012
Seven New Residential Towers Planned in Honolulu
A recovering real estate market on the island of Oahu has created a new push by developers to plan the construction of a total of seven high rise residential condominiums for Honolulu. The first building to be built will be a 340-unit tower in Kakaako named Waihonua. Alexander & Baldwin is the developer for Waihonua and has already started to accept nonbinding reservations. Chris Benjamin, who is in charge of Alexander & Baldwin’s real estate division, stated, “We’re encouraged by the positive response we’re seeing.” Construction for Waihonua is expected to start by the end of 2012.
The Symphony project was also recently announced by developer OliverMcMillan in partnership with local landowner Joe Nicolai. They are hoping to build a 400-unit residential tower across the street from the Neal Blaisdell Center on the corner of Ward and Kapiolani. The partnership is still waiting for state approval, but has stated that once that is given, sales would begin as early as the summer of 2012.
The MacNoughton Group will be co-developing a tower to be built over the Nordstrom parking garage at the Ala Moana Center. The time table to build this 210-unit residential tower has not been announced, but a company spokesperson has stated that they would like to begin sales before Thanksgiving.
There are a total of four other towers that are being considered. Two buildings may be built on the location formerly used by the Honolulu Advertiser in Kakaako. California developer Jason Grosfeld has purchased a lot in Waikiki which is still zoned for high-rise condominium development. Finally, Alexander & Baldwin also has stated that they would be interested in building a tower on the corner of South Street and Ala Moana Boulevard in Kakaako which was once occupied by CompUSA. Alexander & Baldwin did clairfy that they would prefer to finish the sales in their Waihonua building prior to making plans to build another high-rise building.
Source: Honolulu Star Advertiser, 2-26-2012, www.staradvertiser.com
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Friday, February 24, 2012
Sears in Ala Moana Shopping Center to Close in 2013
General Growth Properties Inc., who operates the Ala Moana Shopping Center, has announced that they will be buying back the lease of 11 Sears stores in nine states for a total of $250 million, including the Sears store in Ala Moana. Sears Holding Corporation reported a $2.4 billion fourth-quarter loss and needs to bring in some additional cash flow to their company. With regards to the 340,000 sq ft site at Ala Moana Shopping Center, General Growth stated that they will be spending an additional $250 million to redevelop the space and add additional smaller retailers in its space. The actual start for the closure and renovation will not be until 2013.
David Keating, spokesman for General Growth, has stated, “We could replace them with another department store anchor, big-box store or there is an option we could replace them with a boutique of shops. There’s a lot of opportunities we’re looking at right now. We haven’t settled on anything. With Ala Moana being the gem of our portfolio, certainly it’s something we’ve committed a lot of time and resources and talent to because it’s important to us.”
Kimberly Freely, spokeswoman for Sears, stated that the closing of the Ala Moana store location, “made good business sense for both companies” and was “not necessarily tied to any type of performance.” Freely added, “When the store eventually does close, our policy is to notify employees of open positions at nearby Sears and Kmart locations. These are always difficult decisions for the company whenever we close any of the stores.”
Source: Honolulu Star Advertiser, 2-24-2012, www.staradvertiser.com
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Visitor Spending Increased by 13.9 Percent in January 2012
The Hawaii Tourism Authority has announced that visitor spending in the month of January 2012 increased by 13.9 percent as compared to the same month a year prior. This brought in a total of $1.345 billion. Vice president of Hawaii Tourism Authority’s brand management, David Uchiyama, stated, “This may be the best January ever. We’re off to a good start in all markets. A favorable currency exchange rate was a factor in our success, but reaching our air seat inventory this month helped us overall, and it will help us going forward.”
Concern over the overall world economy has local experts hesitant about stating that 2012 will be a banner year for tourism in Hawaii. However, the fact that the total number of air seats to the Hawaiian Islands will increase by approximately 7.7 percent in 2012 from the year prior is also very exciting news. Mike McCartney, the president and CEO for the Hawaii Tourism Authority, added, “As an island state, airlift and access is essential for a thriving tourism economy. The addition of 700,000 more seats into our state represents our collective efforts with industry partners to stimulate demand to the Hawaiian Islands.”
Source: Honolulu Star Advertiser, 2-24-2012, www.staradvertiser.com
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Thursday, February 23, 2012
First Insurance Center To Be Sold for $70.5 Million
Pacific Office Properties Trust Inc. has announced that they will be selling the First Insurance Center to the Senior Housing Properties Trust for $70.5 million. The First Insurance Center is located next to the Straub Clinic and Hospital on the corner of Ward Avenue and Beretania Street. According to Pacific Office Properties Trust Inc. the transaction is expected close on or before June 30, 2012.
Source: Honolulu Star Advertiser, 2-23-2012, www.staradvertiser.com
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Economic Outlook for Hawaii
According to a report released by the state Department of Business, Economic Development and Tourism, visitor arrival and spending for 2012 will increase by 4.4 percent and 6.4 percent respectively. Wages and salary jobs are expected to increase by 1.5 percent for the year. The state of Hawaii’s gross domestic product is expect to increase by 1.8 percent in 2012 and 2 percent in 2012 after adjusting for inflation. The director for the department, Richard Lim, stated, “Moderate but steady growth is being reflected in most of our key economic indicators, so we feel that the state is still on the right course for economic recovery.”
Source: Honolulu Star Advertiser, 2-23-2012, www.staradvertiser.com
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Wednesday, February 22, 2012
Hawaii Pacific University May House Students at Aloha Tower Marketplace
Hawaii Pacific University has announced that they are currently in negotiations with Hawaii Lifestyle Retail Properties, LLC who owns the Aloha Tower Marketplace and may one day soon house approximately 250 students in lofts built over the shops and restaurants. In recent years, the Aloha Tower Marketplace has been struggling financially and has been exploring new opportunities to generate revnue. Hawaii Pacific University currently has no student housing for its downtown campus.
President of Hawaii Pacific University, Geoffrey Bannister, stated, “Hawaii Pacific University is extremely interested in the proposed redevelopment of the Aloha Tower Marketplace. It would be an ideal opportunity to strengthen our downtown presence, provide students with an optimal living-learning environment, and create the kind of urban campus experience that will be essential to the university’s future.”
Source: Honolulu Star Advertiser, 2-22-2012, www.staradvertiser.com
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Tuesday, February 21, 2012
Senator Inouye to Support Either Carlisle or Caldwell for Mayor
United States Senator Daniel Inouye has announced that he will support either current Mayor Peter Carlise or Kirk Caldwell in the upcoming Honolulu mayor race. Both Carlise and Caldwell support the building of the $5.27 billion rail transit project, while former Governor Ben Cayetano, the third major candidate in the mayor’s race, does not. Senator Inouye stated, “If asked to say anything, I would be in favor of rail. To be honest, I suppose I would support a candidate who supports rail.” Senator Inouye added that, “If Gov. Cayetano wins it would make the rail proposal a bit more difficult. Right now the federal government is in support.”
Former Governor Ben Cayetano replied to the lack of Senator Inouye’s support by stating, “Apparently, he (Inouye) sees nothing wrong with the city awarding multimillion-dollar rail contracts and starting construction even though there is no Full Funding Agreement or congressional approval for the $1.5 billion federal grant. The city is taking these risks mainly because the senator says he is ‘confident’ he will get congressional approval for the $1.5 billion. Not only is such conduct irresponsible, but it is high-stakes gambling with the public’s money.”
According to a recent poll conducted by the Star-Advertiser and Hawaii News Now, Cayetano leads the race for mayor with 44 percent. Carlisle had 35 percent of the vote and Caldwell had 16 percent.
Source: Honolulu Star Advertiser, 2-21-2012, www.staradvertiser.com
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Potential New “Symphony” Condominium Tower to Be Built on Corner of Ward and Kapiolani
OliverMcMillan, a San Diego developer, and Joe Nicolai, a local landowner, have announced that they would like to build a new luxury condominium tower on the corner of Ward Avenue and Kapiolani Boulevard. The building would be named “Symphony” inspired by the neighboring Blaisdell Center the long time home of the Honolulu Symphony. The Honolulu Symphony officially disbanded in 2009, but the Blaisdell will now house the Hawaii Symphony Orchestra, which will host its first concert on March 4.
An application has already been submitted to the Hawaii Community Development Authority to obtain a permit which would allow a 400 foot high tower to be built. If permits are given, OliverMcMillan would like to start selling units in the summer of 2012 and begin construction by the end of the year. The development director for OliverMcMillan, Dan Nishikawa, stated, “There was already some good branding for that property. I think there’s a lot of positive recognition from the location standpoint. It’s going to be a premier building.”
Source: Honolulu Star Advertiser, 2-21-2012, www.staradvertiser.com
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Monday, February 20, 2012
Vacant Lot on Kuhio Avenue in Waikiki Sold for $15.5 Million
A vacant lot located a 2121 Kuhio Avenue in Waikiki was recently purchased by Pacrep LLC for $15.5 million. A total of 1.3 acres in size, the lot is located next to a retail complex which houses Chanel, Gucci and Tiffany and Company. At this time the company has not announced what they plan to do with the land. The lot has remained vacant since the late 1990′s. The previous owner, K3 Owners LLC, had proposed building a 220-unit residential condominium, time-share, or a condominium-hotel property. However, that plan fell apart due to financial and real estate market troubles in the mid 2000′s.
Source: Honolulu Star Advertiser, 2-20-2012, www.staradvertiser.com
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Sunday, February 19, 2012
Latest on Ho’opili Project Hearings
Speaking before the state of Hawaii’s Land Use Commission, land developer D.R. Horton has stated that they hope to build a new project to be named Ho’opili on the Ewa Plains. The project would contain a total of 11,750 homes, schools, shopping centers, medical facilities and two hotels. D.R. Horton has already received support from Honolulu’s Department of Planning and Permitting as well as the state Department of Agriculture and the Department of Transportation and Office of Planning.
The Land Use Commission will now be hearing from those who oppose the project. Leading the opposition is the Sierra Club’s Hawaii Chapter, the Friends of Makakilo and state Senator Clayton Hee. Their primary objection is that the project sits on 1,554 acres of the most fertile and productive farm land on the island of Oahu.
In order to change the land zoning from agricultural to urban, D.R. Horton needs to have a total of six of the nine commission members vote in their favor.
Source: Honolulu Star Advertiser, 2-19-2012, www.staradvertiser.com
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Saturday, February 18, 2012
Joie de Vivre Hotels to Manage Seaside Hotel in Waikiki
It has been announced that Joie de Vivre Hotels will be taking over the management of the Seaside Hotel in Waikiki starting on March 1, 2012 once ownership has been transfered. According to a press release, the new owner will spending approximately $3 million to renovate the property and hopes to be fully renovated by December 2012. The Joie de Vivre Hotels currently manages 31 hotels around the country, as well as 18 restaurants and 7 spas.
Seaside Hotel is currently owned by United Airlines who only accepted reservations from airline employees and United Airlines retirees. The property had an assessed value of $9.4 million in 2011. The 14-story hotel has 125 rooms and a ground floor restaurant which houses Cha Cha Cha 2. The name of the new owner has not been disclosed as of yet.
Source: Honolulu Star Advertiser, 2-18-2012, www.staradvertiser.com
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City Wants Private Companies to Buy and Manage Affordable Housing Complexes
The City and County of Honolulu has announced that they would like to have private companies buy and manage all 12 of its affordable housing complexes. By recent estimations, the city would save approximately $6 million a year in management costs. Honolulu Mayor Peter Carlisle stated, “Transitioning ownership of these projects will relieve the city of the responsibility and cost of operating and managing these projects. Further, it will relieve our taxpayers of the responsibility of paying for future capital improvements and repairs to these buildings.”
City officials stated that potential buyers will be given several months to do their own research and appriasals of the properties. Bids will be accepted in the month of April. Tenants have expressed concern that once a private owner takes over the management of these affordable housing complexes that rent could increase drastically. The city responded that while it was true that rents may increase slightly, rents would not increase past federal guidelines.
Source: Honolulu Star Advertiser, 2-18-2012, www.staradvertiser.com
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Friday, February 17, 2012
Developer Peter Savio Buys Ewa Hotel Waikiki
According to a press release, Hawaii developer Peter Savio is in the process of purchasing the Ewa Hotel Waikiki located at 2555 Cartwright Street. The 97-room property is expected to record on March 1, 2012. Savio stated that he would like to turn the property in an economy brand which will cater towards students and Hawaii residents. Savio added, “Hawaii hotels typically operate with at least a 10 to 20 percent vacancy rate, so student rentals help fill in occupancy. You really don’t know the difference other than we’ve got a lot of young kids at our pool. The students mostly are gone during the day, and they tend to be very respectful. If they don’t follow the rules, they are out.”
President and CEO of Hospitality Advisors, LLC, Joseph Toy added, “There is a market for low-cost Hawaii resident travel, and Peter has proven that he is an astute hotel investor. He’s also been very successful servicing the university housing market. He doesn’t pour a lot of money back into his hotels; he runs them lean. He reads the market well.”
Source: Honolulu Star Advertiser, 2-17-2012, www.staradvertiser.com
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Air Australia’s Shut Down Will Hurt Hawaii
Per to the Hawaii Tourism Authority, Australia was the fastest growing major market for the Hawaiian Islands in 2011, with an 32 percent increase in visitor arrivals. However, yesterday Air Australia made an announcement that they were in huge financial trouble and were forced to cancel all their flights on all their routes, including their twice a week flight from Melbourne and Brisbane to Honolulu. Chief Executive Officer for the Hawaii Tourism Authority, Mike McCartney, stated, “Australia continues to be an important market to Hawaii’s tourism economy, and we will continue to support carriers servicing this region. We will also continue to work with our airline partners to look at ways to restore the loss of airlift (airline seats) to the Hawaiian Islands.”
According to the company’s press release, “It currently appears that there are no funds available to meet operational expenses so flights will be suspended immediately.” Company administrator Mark Korda stated that the airline even ran out of money to refuel its planes. Approximately 500 to 600 passengers from Air Australia were stranded in Honolulu. Hawaiian Airlines, Quantas and Jetstar have all offered discounted tickets for these passengers. Several Waikiki hotels have offered discounted nightly rates.
Source: Honolulu Star Advertiser, 2-17-2012, www.staradvertiser.com
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Thursday, February 16, 2012
Foreclosure Filings in January 2012 Increase
According to a report released by RealtyTrac, a real estate research firm, a total of 652 foreclosure actions were filed throughout the state of Hawaii in the month of January 2012. Honolulu county had a total of 287 filings, at the rate of 1 per 1,174 households. Kauai county had 40 filings, at the rate of 1 per 745 households. Maui county had 126 filings, at the rate of 1 per 559 households. The Big Island of Hawaii had 199 filings at a rate of 1 per 414 households. The state as a whole had 1 filing for every 797 households. By comparison, the national average is 1 filing per 624 households for the month of January 2012.
Source: Honolulu Star Advertiser, 2-16-2012, www.staradvertiser.com
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Whole Foods Market to Open Kailua Store on April 18, 2012
Whole Foods Market has announced that their grand opening for their new Kailua location will be on April 18, 2012. This location will have approximately 32,000 square foot interior and will employee 140 people. Kailua store team leader, Tim Talkington stated, “We truly believe that Whole Foods Market’s mission and lifestyle aligns with those of the Kailua community. Many (of the new employees at the Kailua store) are residents of the Windward community and looking forward to being able to work closer to home.”
Source: Honolulu Star Advertiser, 2-16-2012, www.staradvertiser.com
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Air Australia Forced to Ground All Flights Due to Bankruptcy
Air Australia had been running flights to Honolulu from Brisbane, Australia and Melbourne, Australia twice a week starting from the end of 2011. However, due to financial problems that the company is facing, all flights have been canceled, leaving several hundred tourists stranded in Hawaii. According to Air Australia, all flights had been canceled and the airline would not be accepting new bookings because it could no longer pay its bills. The airline stated, “It currently appears that there are no funds available to meet operational expenses so flights will be suspended immediately.”
Air Australia has hired a ground operator in Hawaii to help with the stranded passengers. Hawaiian Airlines has also offered a $300 one-way fare to Sydney, Australia to those passengers who are able to show their canceled Air Australia ticket or itinerary. Quantas Airways, the largest airline in Australia, has also stated that they may dispatch aircraft to Honolulu to help stranded passengers.
Source: Honolulu Star Advertiser, 2-16-2012, www.staradvertiser.com
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Wednesday, February 15, 2012
T.J. Maxx to Open Three Stores on Oahu
National discount retailer, T.J. Maxx, has announced that they will be opening a total of three stores on the island of Oahu in May 2012. The first store to open will be located at the Ward Center in Ala Moana. The other two stores will open at the Pearl Highlands Center and at Pearlridge Center’s Uptown. Market experts believe that the recent economic downturn will help the discount retailer as customers continue to search for more value in their shopping.
Source: Honolulu Star Advertiser, 2-15-2012, www.staradvertiser.com
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Tuesday, February 14, 2012
Waikiki Casino Bill Discussed
State Representative Joe Souki had proposed House Bill 2788, which would allow a single casino to havea 20-year license to operate in Waikiki. The bill stated that the casino would have to pay 15 percent of the casino’s gross receipts in taxes and would have also created a Hawaii Gaming Commission. A state House committee is currently hearing testimonials from all parties regarding the bill proposal.
Tom Brower, the Tourism Committee Chariman, supported the bill and stated, “Gambling could be a new industry for Hawaii to increase tax revenue and lessen future tax increases on residents. Other world cities show that if gambling is done right, residents benefit; if done wrong, some may suffer.” However, opponents to the bill pointed out that there might be increased crime, unemployment, bankruptcy and family dysfunction.
Source: Honolulu Star Advertiser, 2-14-2012, www.staradvertiser.com
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Seaside Hotel in Waikiki Might be Sold
According to Michael Trevino, a spokesman for United Airlines, the company has come to an agreement to sell the Seaside Hotel in Waikiki. The 14-story building is located at 342 Seaside Avenue and has a total of 125 units within it. Originally built in 1970, it had a 2011 tax assessed value of $9.4 million. Trevino stated, “I believe that there is an agreement, but we haven’t closed on the deal.”
The potential sale has generated protests from United Airlines workers and retirees who have been staying at the hotel for decades. They argue that United’s decision to sell the hotel means that there is another perk lost now that United Airlines has merged with Continental Airlines. President and CEO of United Airlines, Jeff Smisek, wrote back to one angry retired flight attendant and stated, “”We are not in the hotel business, we are in the airline business, which is why we have sold this unrelated piece of real estate. We will be accommodating our flight attendants at other hotels. I do know that our flight attendants liked the staff at the Seaside Hotel, but I’m confident that the new hotels we use will provide good service.”
Source: Honolulu Star Advertiser, 2-14-2012, www.staradvertiser.com
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Monday, February 13, 2012
Ben Cayetano Gaining Support in Mayor Race with Anti-Rail Platform
Former Governor Ben Cayetano has not held an elected position for almost 10 years, but has declared that he is running for Honolulu Mayor to put an end to the rail project. According to a poll conducted by Ward Research Inc. for the Star-Advertiser and Hawaii News Now, Cayetano would win the Democratic primiary if voting were held today with 44 percent of the vote. Current Mayor Peter Carlisle would receive 35 percent of the vote and former city managing director and Acting Mayor Kirk Caldwell would receive 16 percent of the vote.
Cayetano is running on an “anti-rail” platform and has openly stated that he is very much opposed to the $5.27 billion rail transit project that the city is planning. Cayetano stated, “What I sense for the first time is this is not an ideological battle, Democrats versus Republicans. On this one issue, people from all different backgrounds and political persuasions have come together and agreed on this one issue.”
Source: Honolulu Star Advertiser, 2-13-2012, www.staradvertiser.com
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Sunday, February 12, 2012
Support Dropping for Honolulu Rail Project
According to a recent survery conducted by Ward Research Inc for the Honolulu Star Advertiser and Hawaii News Now, only 43 percent of Oahu voters currently feel that the City and County of Honolulu should continue with the mass transit rail system. A similar poll was conducted in May 2011, where only 49 percent of voters surveyed stated they wanted to continue to project. The recent data collected showed that approximately 60 percent of the residents living in Windward Oahu, the North Shore and urban Honolulu oppose the rail project. In the neighborhoods that the rail system will service, surprisingly only 53 percent stated that they still give their support. The margin of error is estimated at plus or minus 4.2 percent.
The Honolulu Authority for Rapid Transportation still maintains that the rail system is the best option for the state. They also are quick to point out that the building of the rail system will create approximately 10,000 jobs for Hawaii residents. Honolulu Mayor Peter Carlisle, a strong supporter of the rail project, stated that the project is “a catalyst for a rejuvenated, a renovated and a renaissance appraoch to the urban core.” Carlisle added, “It’ll do all sorts of positive things in the future for education, for transportation, for affordable housing, for elder mobility, all of those things are going to be available.”
Currently, the rail project is expected to cost $5.27 billion. The City and County of Honolulu has currently spend $342 million on the project.
Source: Honolulu Star Advertiser, 2-12-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Friday, February 10, 2012
Kyoya Hotels Hopes to Build New Waikiki Oceanfront Tower
In 2010, the Kyoya Hotels & Resorts had received a zoning variance from the city’s Department of Planning and Permitting to build a new oceanfront tower on Waikiki Beach. The 26-story tower was to include a total of 185 hotel rooms and 40 condominium units. However, several environmental groups have been protesting the decision under the statement that a tower will damage their enjoyment of the beach. The city and county of Honolulu’s Zoning Board of Appeals hav stated that they will hear the arguments brought forth by the environmental groups on March 22, 2012.
Source: Honolulu Star Advertiser, 2-10-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
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