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
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
