Update of Kakaako Makai and Office of Hawaiian Affairs

In 2012 the State of Hawaii gave the Office of Hawaiian Affairs 31 acres of ocean front land in Kakaako Makai to resolve disputed claims over unpaid ceded-land revenue.  At the time of transfer, the state valued the property at $200 million, but OHA contends that based upon it current zoning, the land is worth significantly less than that. Last month, the Office of Hawaiian Affairs requested the state to pass a bill that would allow them to develop residential condominium and apartment towers on Kakaako Makai.

So far, the state seems to be fairly amenable to this suggestion, but some Kakaako residents are furious about this idea and point to a 2006 decision made by state lawmakers that banned residential development of Kakaako Makai.  However, at that time, the land was owned by the state and not by the Office of Hawaiian Affairs, thus making the zoning petition possible.

The trustees of the Office of Hawaiian Affairs have announced that the have no intention of producing a luxury condominium community on Kakaako Makai and would instead attempt to balance commerce and culture in a way that will make Native Hawaiians and the general public proud.  In a written statement, OHA explained, ""We seek to find the highest point at which the culturally rich use of our Kakaako Makai lands intersects with revenue-generating use of the parcels.  We understand better than any other developer the impacts of irresponsible development. Native Hawaiians have been victims of, and suffered most from, the consequences of reckless development."

Source: Honolulu Star Advertiser, 4-4-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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