Can Kakaako's Sewage System Handle All the New Condominiums?

Residents currently living in Kakaako are questioning if the neighborhood's sewage system can handle all of the new condominium projects that are planned for the area.  While the Hawaii Community Development Authority, the state agency in charge of overseeing development in the neighborhood, and the city and county of Honolulu have both assured the public that the sewage infrastructure currently in place would be able to do so, residents have been complaining about foul odors that are escaping from the system.  The city's Department of Environmental Services and the city's Department of Design and Construction's Wastewater Division have formed a task force and hired engineering firm R.M. Towill Corp to help to analyze and fix the odor problem.

According to city officials it is quite possible that the foul odors are not caused by Kakaako's sewer lines at all. Apparently, the Kakaako neighborhood is located above several different sewer lines which are flowing sewage from other parts of the city on the way to the main pumping stations.  Regardless, city officials have stated that they will be working to identify the source and correct the problem.

Source: Honolulu Star Advertiser, 10-31-2013, www.staradvertiser.com
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Honolulu Has 8th Lowest Unemployment in Country

According to the U.S. Department of Labor, the city and county of Honolulu had an 3.8 percent unemployment rate during the month of August 2013, which tied the city for the eighth lowest jobless rate in the country out of the 347 metropolitan areas surveyed by the Labor Department.  In comparison, Maui County posted a 4.5 percent unemployment rate, while Kauai County had a 4.9 percent unemployment rate and Hawaii (Big Island of Hawaii) County had a 5.8 percent unemployment rate.  Nationally, there was a 7.3 percent unemployment rate.  Please note that national figures are seasonally adjusted, while metropolitan and county data are not.

Source: Honolulu Star Advertiser, 10-31-2013, www.staradvertiser.com
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Two Kauai Hospital in Desperate Need of Funding

Kauai Hawaii Health Systems Corporation is requesting $7.3 million in emergency funding from the state of Hawaii to keep two rural hospital on Kauai afloat until the spring of 2014.  The two hospital are the Samuel Mahelona Memorial Hospital, which has the only inpatient psychiatric unit on the island, and the Kauai Veterans Memorial Hospital.  The Kauai Hawaii Health Systems Corporation also manages three clinics in Waimea, Kalaheo, and Port Allen.  The Mahelona hospital and the Kauai Veterans Memorial Hospital serves approximately 7,000 emergency room patients at each facility per year.  Both hospitals also have long term care patients and some acute care patients as well.

According to the acting president and CEO pf the Kauai Hawaii Health Systems Corporation, Alice Hall, services may be cut if state lawmakers are unable to approve the funds. Hall commented, "They're not going to make it through spring without the money."  Long-term financial solutions are currently being discussed including the possibility of creating a public-private partnership with another hospital system.

Source: Honolulu Star Advertiser, 10-30-2013, www.staradvertiser.com
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Honolulu Rail Project To Receive $63.8 Million from General Excise Tax Revenue

The Honolulu Rail Project is expected to receive $63.8 million from revenue earned from the state's general excise tax during the third quarter of 2013.  According to officials from the Honolulu Authority for Rapid Transportation, which is significantly higher then what was expected thanks to improving economic conditions in the state.  Executive Director for HART, Dan Grabauskas, stated, "Strong GET surcharge revenue coupled with the $1.55 billion in federal funding that we secured last year is keeping us on the right track to deliver the project on budget."  The project is expected to cost $5.26 billion in total, with the GET surcharge paying for 70 percent of the amount and federal funding paying for the remaining 30 percent. The rail project is expected to be completed in 2019.

Source: Honolulu Star Advertiser, 10-29-2013, www.staradvertiser.com
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Hyatt Regency Waikiki Beach Resort and Spa to Spend $100 Million on Renovations

The Blackstone Group, the new owners of the Hyatt Regency Waikiki Beach Resorts and Spa, has announced that they will be  spending over $100 million to renovate the property. The property was originally built about 40 years ago and has approximately 1,230 guest rooms. David Nadelman, the general manager for the resort, stated, "It will be a very thoughtful renovation that brings Hawaii into the building and gets Hyatt out into the community. The people of Honolulu deserve this because this property is iconic and it's wonderful that Blackstone wants to put that level of investment into it."  Renovations are expected to begin in the middle of 2014 and take approximately 18 months to complete.

Source: Honolulu Star Advertiser, 10-28-2013, www.staradvertiser.com
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Surge in Photovoltaic Panels Overwhelm System

Thousands of homeowners in the state of Hawaii who are hoping in install solar photovoltaic panels to their houses are now realizing that they might be a little late to the party. Several years ago when the solar market was just starting to pick up steam, there were relatively few solar panels attached to the various electrical grids around the islands, and systems could be installed quickly with no extra installation fee from the utility companies.  However, certain neighborhoods are now over saturated with panels which at times has created more solar energy then the current systems are designed to handle, causing both reliability risks and safety risks for consumers.  This has caused some utility officials to place holds on accepting new solar customers until special engineering studies have been completed an new protective systems have been installed.  For example, on certain neighborhoods in Maui and the Big Island of Hawaii, customers hoping to plug in their photovoltaic panels into the system are being asked to wait between 12 to 18 months by to energy companies.

Source: Honolulu Star Advertiser, 10-27-2013, www.staradvertiser.com
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Hawaiian Electric Seeks to Eliminate Unscrupulous Practices By Some Solar Companies

The Hawaiian Electric Company has been receiving numerous complaints from consumers that several solar energy companies have been misleading their customers and not disclosing potential challenges that they may have when they attempt to connect their solar photovoltaic systems with the Hawaiian Electric Company grid.  According to HECO, certain neighborhoods in Hawaii have become over saturated with PV panels, which can overwhelm the company's existing grid system.  This excess solar energy can create a "back-feed" into the company's grids and can potentially damage customer's electronic equipment.  Until the existing grid can be completely upgraded, the Hawaiian Electric Company has been requiring customers to install special safety equipment, something that solar energy companies are not disclosing.

In fact, several solar companies are going so far as to telling their prospective customers that they have a "special arrangement" with HECO which allows them to bypass the special equipment upgrades, something which HECO's senior vice president for customer services, Jim Alberts flatly states as false.  Alberts stated, "No such arrangement does, or can, exist.  Hawaiian Electric is getting reports of practices from some solar vendors that could result in serious safety hazards.  Practices like this put the safety of utility workers and customers at risk and harm the reputation of the solar industry."

State lawmakers are also holding hearings to discuss various issues created by the boom in the solar industry. Topics being discussed include the increased number of sales and the sometimes shady marketing tactics that some solar energy companies are using.  State Representative, Sharon Har, stated that several of her constituents have complained that solar companies are not disclosing about what the currently levels of PV penetration is in their neighborhoods, nor are they disclosing that special engineering studies and equipment upgrades would be needed.

Source: Honolulu Star Advertiser, 10-26-2013, www.staradvertiser.com
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UHERO Predicts Slower Economic Growth

The University of Hawaii Economic Research Organization (UHERO) still forecasts growth in the state's visitor industry and overall economy, but believes that the pace will be slower than previously predicted.  A weaker yen, high hotel room rates, and less federal government spending will slow Hawaii's economic recovery for the remainder of 2013.  The report stated, "Overall, the level of visitor industry activity has been coming in a bit weaker than we had anticipated earlier in the year. Next year may be more challenging since there are signs that global growth is slowing. This has been another year of moderate, if unremarkable growth in Hawaii. As expected, the torch is gradually being passed from tourism to construction and the broader service economy."

The new forecast predicts a 4.3 percent increase in the number number of visitors to the Hawaiian islands in 2013.  Previously UHERO predicted a 5.5 percent increase in the number of visitors.  Visitor spending has also been downgraded to a 4.7 percent increase as compared to the 7.4 percent previously forecast. UHERO's Chief research economist and an assistant professor of economics, Peter Fuleky, added, "Consumer confidence has dropped quite significantly.  All of these things are making consumers hesitant to go out and spend big-time on discretionary items. A trip to Hawaii is not a necessity. It's something you can put off."

Source: Honolulu Star Advertiser, 10-25-2013, www.staradvertiser.com
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Hawaiian Airlines Still Most On-Time Airline

According to a report issued by the U.S. Department of Transportation, 94.3 percent of Hawaiian Airlines flights were on-time in August 2013, representing the seventh consecutive month that the airline ranked number one in the nation out of the nation's 16 largest carriers. Under the Air Travel Consumer Report, a flight is considered to be on time if it arrives at its destination within 15 minutes of the scheduled time.  Coming in second was Alaska Airlines at 85.1 percent and Delta Airlines was third at 85 percent.  On the bottom of the list were JetBlue at 72.6 percent, Southwest Airline at 73.8 percent, and American Eagle at 74.2 percent. The national on-time average was 78.8 percent.

Source: Honolulu Star Advertiser, 10-24-2013, www.staradvertiser.com
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Hawaiian Electric Submits Request to Build Large Solar Photovoltaic Project

The Hawaiian Electric Company is seeking approval from the Public Utilities Commission to build a large solar photovoltaic project next to the Kahe plant on the Leeward Coast of Oahu.  If approved, the facility would be able to produce electricity at the equivalent cost of 14.5 cents per kilowatt-hour, significantly below the 22.7 cents per kilo-watt hour that it currently costs to produce electricity from low-sulfur fuel oil.  HECO's vice president for power supply, Ron Cox, stated, "This is a unique opportunity that benefits our customers because it allows us to quickly develop more low-cost clean energy."  Once completed, the 50 acre site will be the largest solar farm in the state of Hawaii.

Source: Honolulu Star Advertiser, 10-24-2013, www.staradvertiser.com
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Kamehameha Schools Seeks Buyer for Royal Hawaiian Center

Kamehameha Schools has announced that they are seeking a buyer for the Royal Hawaiian Center in Waikiki. Under the proposal, the sale of the largest shopping center in Waikiki would include all of the mall's buildings, but not the underlying land.  The land would be leased to the potential buyer under a 60-year ground lease.  After that time, the Kamehameha Schools trust would recover complete ownership of the property.  Even at its leasehold status, local real estate experts estimate that the property would sell for at least $300 million.  Kamehameha School's chief executive officer, Dee Jay Mailer, noted that there is a high demand for commercial properties due to low interest rates.  The money generated by the sale would be used reinvested and used to support normal operations of the $9 billion trust.

Source: Honolulu Star Advertiser, 10-23-2013, www.staradvertiser.com
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Hawaiian Airlines Plans to Offer Nonstop Service Between Tokyo and Kona

Hawaiian Airlines has just filed an application with the U.S. Department of Transportation to offer a nonstop daily service between Haneda International Airport in Tokyo, Japan and with Kona's airport on the Big Island of Hawaii. Currently, there are no direct flights to the Big Island of Hawaii from Japan.  If this flight is added, experts estimate that the route would generate $74 million of annual U.S. economic activity and support an additional 1,400 jobs.  President and Chief Executive Officer for Hawaiian Airlines, Mark Dunkerley, stated, "Kona is Hawaii's second-largest destination market for Japanese visitors, and daily nonstop service from Tokyo would generate a substantial amount of foreign spending that will invigorate the local, state and national economies."

Source: Honolulu Star Advertiser, 10-23-2013, www.staradvertiser.com
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Nordstrom Rack and Pier 1 to Relocate at Ward Centers

Ward Centers has announced that they have created a new two-story building building at their Ward Village Shops complex for Nordstrom Rack and Pier 1 stores, which are being forced to relocate from their current locations due to additional renovations and expansions that Ward Centers has planned.  The 58,000 sq ft complex is located between the T.J Maxx store and the old Pier 1 location on the corner of Auahi and Kamekee Street.  Pier 1 is scheduled to reopen on November 1st while Nordstrom Rack is scheduled to reopen on November 14th.  Howard Hughes Corp's senior vice president for development, Nick Vanderboom, stated, "With the completion of the Ward Village Shops, we move another step forward in bringing our vision for Ward Village to life.  The grand openings of Pier 1 and Nordstrom Rack in their new locations represent another milestone in the transformation of Ward Village into a true mixed-use community in the heart of Honolulu."

Howard Hughes Corp. which owns the Ward Centers, has previously announced that they will double the retail space at Ward Center and build a total of 22 new high-rise towers in the neighborhood.  Ward Centers includes the Ward Centre, the Ward Warehouse, the Ward Entertainment Complex and the Ward Gateway Center.

Source: Honolulu Star Advertiser, 10-22-2013, www.staradvertiser.com
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Oceanfront Homes on Sunset Beach Threatened By Erosion

Several oceanfront homes on Sunset Beach on the North Shore of Oahu are being threatened by a rapidly eroding beach caused by a combination of high surf and high tides.  Waves have created a cliff face which drops 20 feet to the beach in one area, creating a lot of concern from nearby residents.  National Oceanic and Atmospheric Administration coastal storms program coordinator, Dolan Eversole, stated, "It looked pretty bad out there.  A couple of foundations are exposed and are very severely threatened."

State officials are planning on inspecting the beach to advise homeowners as what steps they can take to protect their properties.  Residents have stated that they are talking to coastal engineers about the possibility of creating a temporary shore protection structure, but in order for them to be allowed to do so, approval must be given by local government agencies.

Source: Honolulu Star Advertiser, 10-22-2013, www.staradvertiser.com
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First Hawaii Bank Reports Higher Net Income For 3rd Quarter of 2013

First Hawaiian Bank had a net income of $50.9 million during the 3rd quarter of 2013.  President and CEO for First Hawaiian Bank, Bob Harrison, commented, "We continue to see strong loan growth in a recovering marketplace.  The bank performed well this quarter with both deposits and assets achieving solid gains. We expect to see continued steady economic improvement as more projects begin construction. We mirror the economy. What the start of construction means for the economy is that finally people are working. We keep talking about projects being announced, projects being in pre-sale. Now, finally, people in the industry are working and getting paid. And those dollars will recirculate into the economy."

The bank's total assets increased by 3.7 percent to $16.7 billion, while total deposits increased by 3.1 percent to $13.1 billion.  Bob Harrison did note that low interest rates, set by the Federal Reserve, has lowered the company's net interest margin.  Harrison added, "The one thing we don't control is interest rates. That's why the net interest income was flat, but that's actually an improvement from where we thought it would be. The one thing we can control is working with our customers and being out in the community and supporting them with loans when they need to invest in whatever project there is to fulfill their needs. I think that will continue as we see some of these new projects come out of the ground."

Source: Honolulu Star Advertiser, 10-21-2013, www.staradvertiser.com
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Makiki Residents Frustrated By Recent Parking Tickets

For as long as many residents in Makiki can remember, they have parked their cars overnight on the grassy strip in front of their homes along the shoulder of the road.  Legally, residents are not allowed to do this, but with no one complaining, nothing has been done to stop the practice.  However, in recent weeks, pedestrians have started to complain to the police that the parked cars have created a hazard and police have responded by issuing tickets to offending vehicles.  In one case, a single jogger who was out at 1:00 AM, made numerous complaints to the police and the police issued 30 tickets for parking on an unimproved sidewalk that night.

The Makiki Neighborhood Board is requesting that the police create a moratorium on ticketing while they look for ways to address the problem.  Some board members feel that their cars should be grandfathered in and that they should be allowed to continue to park in front of their homes.  However, the police department has responded that if they receive a complaint that they have to address the issue.

Source: Honolulu Star Advertiser, 10-20-2013, www.staradvertiser.com
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Ala Moana Center Plans to Start Overnight Construction

The Ala Moana Center has requested a noise variance from the Department of Health to allow construction 24 hours a day, six days a week, until September 2015, to complete a $572 million redevelopment of the Ewa end of the shopping center.  However, this has infuriated condominium owners living at 1350 Ala Moana, which is right across the street from the shopping mall.  A total of 353 residents at 1350 Ala Moana are petitioning the Department of Health to reject the variance request.  Homeowner Patrick Brent, stated, "They're making noise all day long here five days a week.  In the last few weeks we've been woken up at 5 in the morning by helicopters dropping machinery on the roof of the shopping center. The reason they do it at 5 or 6 in the morning is because they don't want to slow down revenue during the day. We got a real David-and-Goliath thing going on here."

Ala Moana Center issued a statement saying, "The intent of the noise variance permit is to allow for specific projects to be completed during off-business hours only, nevertheless we will attempt to limit construction activities that can create noise at night to the minimum necessary.  Prior to resubmitting our noise variance application, we plan on meeting again with our neighbors in order to advise (them) of the revised plans, which will also serve to continue our ongoing communication efforts. In the meantime, we welcome all feedback and appreciate the community's patience and understanding as we work to complete this project."

Source: Honolulu Star Advertiser, 10-19-2013, www.staradvertiser.com
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Residential Electrical Rates Increased in October 2013

According to the Hawaiian Electric Company, residential electrical rates increased slightly to 33.2 cents per kilowatt-hour in October 2013 from 32.3 cents a month prior.  HECO stated that this price increase was due to the high cost of low-sulfur fuel oil, which the company uses to produce the electricity.  Rates for the neighbor islands also increased in October.  Kauai residents paid the most at 42.9 cents per kilowatt-hour followed by Big Island of Hawaii residents who paid 41.4 cents per kilowatt-hour.  Maui Electric Company residents paid 37.4 cents per kilowatt hour.

Source: Honolulu Star Advertiser, 10-18-2013, www.staradvertiser.com
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University of Hawaii May Halt New Construction to Repair Existing Buildings

The University of Hawaii is considering halting all new construction projects to tackle a nearly $500 million backlog of repair and maintenance issues that the existing buildings are facing. Benjamin Kudo, one on the school's Regents, came up with the proposal and stated, "My concern was if we spent too much of our efforts to approve new projects, that it would somehow affect our ability to take care of the back of the house.  We've neglected too long to take care of our physical plant.  The goal or objective of this particular proposal is to redirect our priorities to reduce the deferred maintenance and repair balance.  We need to have a safe facility and a facility that doesn't present health problems or safety problems to (students) and where it's conducive to learning.  All new buildings, all new proposals, are worthy, and it's difficult for us to say no, but at some point we have to delay or hold off and slow down so that we have a chance to catch up."

According to a recent estimate, the cost to complete repairs and maintenance on existing buildings across the 10-campus system would be approximately $487 million.  Out of which, $407 million would be needed at the main Manoa campus.

Source: Honolulu Star Advertiser, 10-18-2013, www.staradvertiser.com
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Unusually High Tides May Be Cause of Severe Beach Erosion at Several Oahu Beaches

According to Dolan Eversole, the National Oceanic and Atmospheric Administration Sea Grant Coastal Storms Program coordinator, unusually high tides may be the cause of significant beach erosion at several Oahu beaches.  In recent weeks, a very noticeable beach erosion has been documented at Sunset Beach on the North Shore and at Waikiki Beach on the South Shore.  Eversole noted that tides were 3 to 6 inches higher over the past month and that "a couple of inches of water can make all the difference."

The state Department of Land and Natural Resources are working to transfer sand around on Waikiki beach to cover an exposed concrete foundation.  The DLNR is also working to come up with a long term solution to the problem.  Spokesman for the Honolulu Mayor's office, Jesse Broder Van Dyke, stated, "It will be a temporary fix. The next swell could erode the sand. But right now it doesn't look like it should for our tourists."  At Sunset beach, several homeowners are working with an engineering firm to discuss what can be done to protect about 10 homes that are built close to a nearly created 20-foot beach cliff.

Source: Honolulu Star Advertiser, 10-17-2013, www.staradvertiser.com
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Plaza Assisted Living Considering Waikiki Location

Plaza Assisted Living currently has built three senior housing communities on Oahu and is now considering building an eight story complex in Waikiki.  The group is looking at a vacant lot across from the Hawaii Convention Center at 1812 Kalakaua Avenue.  Tentatively, the plan would be to build a 110,000 sq ft structure that would have about 140 studios and two-bedroom units.  The facility would offer rentals to seniors and provide comprehensive care services.

Jeff Merz, a Waikiki Neighborhood Board member, praised the concept and stated, "We gave the project a big thumbs-up.  We want to get a positive business in that location. That intersection has been awful for years. We think that this development will clean up the site and really the whole surrounding area.  Additional housing is very important for our community.  We like the idea that this infill development would be very walkable for the people who live there."

Source: Honolulu Star Advertiser, 10-16-2013, www.staradvertiser.com
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Board of Education Requesting Additional $65 Million for Next Fiscal Year

The Board of Education is requesting an additional $65 million from the state for the next fiscal year on top of the $1.37 billion budget that has been previously been approved by the Department of Education.  Under the proposal, $40 million would be used to increase the number of teaching staff at various schools and another $25 million would be used to start adding air conditioning units to classrooms across the state.  Of the 255 public school classes in the state of Hawaii, only 12 schools have central air conditioning.  It should be noted that the Department of Education has estimated that if they were to install air conditioning in all classrooms, it would cost the state more than $1 billion and triple the current electrical bill that the department gets.

Source: Honolulu Star Advertiser, 10-16-2013, www.staradvertiser.com
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Bike-Sharing Plan For Honolulu Being Proposed

Honolulu Mayor Kirk Caldwell has been meeting with cycling enthusiasts, public heath advocated and local transportation officials to create a plan to introduce a bike-sharing program to Honolulu by 2015.  The program will be modeled after one created in Chicago, where bicycles can be rented and then later dropped back off at various stations throughout the city.  Typically bike-share programs would provide uses with an annual, monthly or daily fee to use the network of bikes.  Fees would be added if a bike stay out past their expected return time.

It is estimated that providing 1,700 bikes for 180 stations would cost approximately $11.9 million to start up.  The project would be financed by a mix of public grants, city transportation funds, and private advertising on the bikes and bike stations.  It is estimated that the program would generate about $4.7 million in user fees during its first year, which would be enough to cover operating costs.  Mayor Caldwell has also proposed creating additional "protected bike lanes" around Honolulu, which would separate cars from bike lanes with plastic barriers.  This would create a lane for bicyclists to ride between cars and the sidewalk.

Source: Honolulu Star Advertiser, 10-14-2013, www.staradvertiser.com
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Hawaii's Economy Continues to Grow Slowly, Concern Over Prolonged Government Shutdown

A quarterly report issued by First Hawaii Bank indicated that Hawaii's economy continues to grow as evidenced by a 5.9 percent increase in credit and debit card card transactions for local businesses during the third quarter of 2013 as compared to the same quarter a year prior.  The bank is the largest local processor of debit and credit card transactions with nearly 7,000 merchants on their network.  President and CEO of First Hawaiian Bank, Bob Harrison, commented, "Although this quarter's gain (in card transactions) was modest compared to previous quarters, what we are seeing is that this third quarter is the 15th consecutive quarter of positive growth. That is a good indication for us that the economy continues to make steady gains."

However, Jack Suyderhoud, a professor of business economics at the University of Hawaii's Shidler College of Business and adviser to First Hawaiian Bank, warned that a prolonged federal government shutdown could slow growth significantly.  Suyderhoud stated, "The longer the shutdown lasts, the larger the impact will be. There's no doubt about the fact that it will have some impact. It's just that we don't know what the impact will be because we don't know how long it's going to last and we don't know the extent of the shutdown."

Source: Honolulu Star Advertiser, 10-13-2013, www.staradvertiser.com
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Maui Real Estate Sales Data for September 2013

Source: Realtors Association of Maui

Single Family Home Sales for the Island of Maui
September 2013 - 85 Homes Sold - $470,000 Median Price
September 2012 - 77 Homes Sold - $425,000 Median Price

Condominium Sales for the Island of Maui
September 2013 - 117 Condos Sold - $350,000 Median Price
September 2012 - 67 Condos Sold - $325,000 Median Price

Source: Honolulu Star Advertiser, 10-12-2013, www.staradvertiser.com
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Aloha Kai Condominium Given Approval by Honolulu City Council

The Aloha Kai condominium tower has been given final approval for its construction by the Honolulu City Council. The 350 foot tall tower will be built on Atkinson Drive, across the street from the Ala Moana Center, on the site if the Central YMCA.  Originally, the zoning only allowed for a 150 ft tall building with 120 units, but a zoning change by the city council allowed for the taller building with a total of 128 units.  The Aloha Kai Development has stated that a new YMCA will be built in from of the Aloha Kai tower.

Source: Honolulu Star Advertiser, 10-11-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Aloha Tower Marketplace and Hawaii Pacific University Update

Last year, Hawaii Pacific University took control of the Aloha Tower Marketplace shopping center and stated at that time that they would be working to improve the first-floor retail component of the property and add student housing on the second floor.  However, under a modified proposal, it now appears that HPU will be taking over a significant part of the first floor space for their own facilities and offices.  This would include adding a library, a computer lab, housing office, fitness center, pool hall, graduate center, classrooms and an admissions and welcoming center to the first floor.

One item that was previously proposed, but is no longer being considered, was the building of an indoor sports and entertainment complex at Pier 10.  The plan was to build a facility that would seat between 1,000 and 2,000 fans, and be the home court for the school's basketball and volleyball programs, as well as concerts, performances and other community events.  However, the University has decided that the site would be too small for such an undertaking and could not be expanded further.

There is some concern from the public that the school has significantly changed their proposal and would not be able to provide much revenue to the state, who owns the land under the marketplace.  The Aloha Tower Development Corp, the state agency that manages the state-owned land under the marketplace, would have to approve any proposed changes by Hawaii Pacific University.

Source: Honolulu Star Advertiser, 10-9-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
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Honolulu Rail Project Officials Believe They Have Complied With All Federal Judge's Instructions

Honolulu Rail Project officials have filed in federal court that they have complied with all of Judge A. Wallace Tashima's instructions. About a year ago, Judge Tashima ordered the Honolulu Rail Project to be halted until alternative routes and impacts to the city could be studied.  Now, Judge Tashima would have to review the findings, and if he accepts the city's "notice of compliance" would lift his order to block construction in the heart of Honolulu.  Honolulu Mayor Kirk Caldwell, stated, "We've now met the conditions set by Judge Tashima. Their day in court has happened. Let the project continue."

There is still a federal suit against the rail project that is being reviewed by a panel of three judges on the 9th U.S. Circuit Court of Appeals.  Ultimately, the decision made by the Appeals court could decide if the city would be allowed to go forward with the $5.26 billion project.

Source: Honolulu Star Advertiser, 10-9-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Update on 803 Waimanu in Kakaako

MJF Development Corp has submitted a new application with the Hawaii Community Development Authority to build a seven-story building with 153 units at 803 Waimanu in Kakaako.  Previously, the company had proposed to build a 27-story tower with 192 units, but that plan was rejected by the HCDA after receiving a lot of opposition for residents of neighboring Imperial Plaza condominium tower.  Imperial Plaza residents argued successfully that the originally planned 803 Waimanu tower was too tall and too close their building.

Under the new proposal, a total of 117 of the 153 units will be studios, approximately 384 sq ft in size.  The rest of the units will be a mix of one-bedroom and two-bedroom units.  It should be noted that there will be only a total of 92 parking stalls in the project, many of which will be in a mechanical lift system.  As a result, not of the units will be conveyed with parking.  MJF Development Corp will make a presentation of their proposal to the HDCA on November 6.  The public would be allowed to attend this meeting and provide testimony.

Source: Honolulu Star Advertiser, 10-8-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Kauai Real Estate Sales Data for September 2013

Source: Hawaii Information Service

Single Family Home Sales for the Island of Kauai
September 2013 - 39 Homes Sold - $490,000 Median Price
September 2012 - 34 Homes Sold - $524,500 Median Price

Condominium Sales for the Island of Kauai
September 2013 - 28 Condos Sold - $207,500 Median Price
September 2012 - 21 Condos Sold - $325,000 Median Price

Source: Honolulu Star Advertiser, 10-8-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Big Island of Hawaii Real Estate Sales Data for September 2013

Source: Hawaii Information Service

Single Family Home Sales for the Big Island of Hawaii
September 2013 - 179 Homes Sold - $280,000 Median Price
September 2012 - 102 Homes Sold - $247,500 Median Price

Condominium Sales for the Big Island of Hawaii
September 2013 - 43 Condos Sold - $315,000 Median Price
September 2012 - 34 Condos Sold - $269,500 Median Price

Source: Honolulu Star Advertiser, 10-8-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Second Hospital to Be Built on Maui

Newport Hospital Corp has announced that they will be building a new hospital on West Maui.  According to plans, the 14.9 acre medical facility will include a 25-bed critical access hospital, a 40-bed skilled nursing facility, a 24-hour emergency room, and a 30,000 sq ft medical office building.  This will Maui's second hospital and will still transfer critical cases to Maui Memorial Medical Center, about an hour drive away. President of West Maui Hospital and Medical Center Foundation, Joseph Pluta, commented, "I've lived here in this community, and I've seen people die unnecessarily because of the isolation from emergency medical services.  If you live here and your family was living here, you'd be scared to death because it's not safe." Pluta has been pushing for the building of a hospital in West Maui for the last 15 years.  The center is expected to cost between $65 to $70 million to construct and will open in the middle of 2016.

Source: Honolulu Star Advertiser, 10-8-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Kuli'ou'ou Ridge Trail

The Kuli'ou'ou Ridge Trail boasts some of the most spectacular views of Hawaii Kai, Waimanalo and Kailua on Oahu.  Approximately, 5 miles round trip, this hike took my wife and I three hours and 15 minutes to complete, including a break on the top to take some photographs.  While the hike is considered to be "moderate", it wasn't entirely easy, with some steep steps to climb at the very end.  Bring some water and make sure you stay on the trail (clearly marked) as this is a hunting area.

If you are driving from Waikiki, go East along the H-1 Freeway until it becomes Kalaniana'ole Highway.  After you pass Aina Hina, you will take a left on Kuli'ou'ou Road.  Go up Kuli'ou'ou Road for 1.3 miles until you reach Kala'au Place.  Take a right on Kala'au Place and park. Walk to the to top of Kala'au Place and begin the hike.

Overall a very enjoyable way to spend a morning.  My suggestion would be to start earlier in the day or in the late afternoon, as it can get quite humid and warm at times.  We saw several other hikers bringing their dogs.  Just make sure your animals are leashed, as there are hunters with their dogs in the area, and bring them lots of water.

Oahu Real Estate Sales Data for September 2013

Source: Honolulu Board of Realtors

Single Family Home Sales for the Island of Oahu
September 2013 - 303 Homes Sold - $675,000 Median Price
September 2012 - 304 Homes Sold - $637,000 Median Price


Condominium Sales for the Island of Oahu
September 2013 - 421 Condos Sold - $348,000 Median Price
September 2012 - 350 Condos Sold - $319,500 Median Price

Source: Honolulu Star Advertiser, 10-7-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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Civilian Workers Return to Work Thanks to Defense Secretary Hagel

United States Defense Secretary Chuck Hagel has announced that the would be recalling about 350,000 civilian workers who were laid off due to the government shut down last week.  The state estimates that there are about 25,500 federal defense civilian employees and about 9,000 non-defense employees in Hawaii out of which about 25,000 were affected by the government shutdown.  However, Hagel stated that based upon the Pentagon's legal interpretation of the Pay Our Military Act, those "employees whose responsibilities contribute to the morale, well-being, capabilities and readiness of service members" should be allowed to return to work.

United States Representative, Colleen Hanabusa, stated, "Before the government shutdown began, the United States made a statement that it would not allow our brave men and women in uniform, as well as the civilian employees who support their efforts, to be burdened by Congress' inability to do its job."

Source: Honolulu Star Advertiser, 10-6-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
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