New Godzilla Movie to Be Filming on Oahu

Warner Brothers Pictures and Legendary Pictures have confirmed that the latest Godzilla movie will be filming on the island of Oahu start in July of this year. The film has been shooting in Vancouver since March 18, 2013, but needed a secondary location for the movie. Donne Dawson, Hawaii film commissioner, Donne Dawson, commented, “They’ll be filming in some very public places. The public will have no problem observing filming activity. It is not going to be hidden away in the jungle.”

Gareth Edwards will direct the movie, which will star Aaron Taylor-Johnson, Ken Watanabe, Elizabeth Olsen, Juliette Binoche, David Strathairm and Byran Cranston. Honolulu film commissioner, Walea Constantinau noted that the filming of Godzilla would be excellent for Hawaii’s economy. Constantinau added, “This is an indelible franchise that lives through history. For us to be part of it, with Hono­lulu front and center in some of it, is an unbelievable marketing opportunity.”

Source: Honolulu Star Advertiser, 6-4-2013, 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

Hawaii Bankruptcy Filings Decrease In May 2013

According to the U.S. Bankruptcy Court, the number of bankruptcy filings in the state of Hawaii decreased to 207 cases in May 2013. This represented a 5.5 percent decrease from the same month a year prior and was also the 26th straight month of decreases in bankruptcy filings for the Hawaiian Islands. Local economist, Paul Brewbaker, commented that this was a sign of continued economic recovery. In terms of the exact breakdown, there were 157 Chapter 7 liquidation cases, 49 Chapter 13 cases, and one Chapter 11 reorganization case.

Source: Honolulu Star Advertiser, 6-4-2013, 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

Economists Believe that Demand Will Be There for All the New Condominiums

A total of 5,000 new condominium units and 1,000 rental units have been planned to be developed in Oahu’s urban core over the next decade. While some people are questioning if there will be enough demand for these new buildings, many local economists and real estate experts believe that the increased supply won’t even be noticed. Paul Brewbaker, the chief economist of TZ Economics, commented, “It’s not a question of will there be enough buyers. The problem is, will there be enough condos?”

Below is a list of the planned buildings:

Waihonua, located on Queen Street, is being developed by Alexander & Baldwin Inc. Currently 321 of their 341 units have been sold. The building is scheduled to be completed in March 2015.

One Ala Moana, is located above the Nordstrom parking garage at the Ala Moana Center. The 210 units have been sold out. The MacNaughton Group and the Kobayashi Group are the local developers in partnership with the Howard Hughes Corp.

801 South Street was marketed as moderately priced building. All 635 units have been sold through a lottery drawing. At that time 300 lottery entrants did not secure a unit. Marshall Hung is the developer of this building.

Symphony Honolulu is located on the North West corner of Ward Avenue and Kapiolani Boulevard. Sales are expected to begin this summer.

404 Ward Avenue is the address of a new moderately priced condominium tower that the Howard Hughes Corporation will be building. Prices have not been specified as of yet. Sales are expected to begin this year. The building will have approximately 400 units.

1108 Auahi Street is the address of a new mid-luxury condominium tower that the Howard Hughes Corporation will be building. Prices have not been specified as of yet. Sales are expected to begin this year. The building will have approximately 300 units.

1140 Ala Moana is the address of a new luxury condominium tower that the Howard Hughes Corporation will be building. Prices have not been specified as of yet. Sales are expected to begin this year. The building will have approximately 200 units.

The Collection is a project being done by Alexander & Baldwin. Located at the site of the former CompUSA store on the corner of South Street and Ala Moana Blvd, the project will include 466 units including several townhouses. Sales are expect to begin later this summer.

803 Waimanu is a project being developed by Franco Mola and will be located on Waimanu Street near Cooke Street. The project will feature 217 units. Sales are expect to begin later this summer.

Aloha Kai is a planned project on Atkinson Drive on the property that is currently being occupied by the Central YMCA property. The developer is still seeking a city zoning change. The building would have 128 units.

Halekauwila Place is a rental project with 204 units being developed by Standord Carr.

690 Pohukaina is also a rental project with 804 units. The project is being planned by Ohio-based Forest City Enterprises Inc.

Source: Honolulu Star Advertiser, 6-3-2013, 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

University of Hawaii at Manoa Behind National Average for Graduation Rate

According to a recent study conducted by the National Center for Education Statistics within the U.S. Department of Education, the University of Hawaii at Manoa has a 19 percent four-year graduation rate. This was significantly below the 39 percent national average for state universities and ranked Hawaii’s four-year graduation rate 38th among the 50 states and the District of Columbia. UH-Manoa’s Vice Chancellor for Academic Affairs, Reed Dasenbrok, responded, “It’s a hard thing to generalize, but there’s no question we ought to and need to be above the national average. The easiest way to increase our rate would be to only accept students who are likely to graduate on time. But we want to do this the hard way, and that is a challenge. We’re embracing that challenge because we believe it’s our kuleana to educate the entire population of the state.”

The University of Hawaii Manoa Chancellor, Tom Apple, added that he wanted to see the school’s four-year graduation rate double in the coming years. Apple stated, “There’s no way to sugarcoat that, that is awful, and I really believe we can double that in literally five years. We’re not too bad in the six-year rate, but our four-year rate is very poor.” The percentage of undergraduate students completing their degrees in six years at UH-Manoa is 57 percent, or two percent lower than the national average of 59 percent.

Source: Honolulu Star Advertiser, 6-2-2013, 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

Honolulu’s Chinatown Hopes to Attract More Tourists

A group of Honolulu’s Chinatown residents and supporters have been working very hard to educate tourists about their neighborhood and get them to come and visit. Located within the greater Downtown neighborhood, Chinatown boast many great restaurants, shops and open air markets. However, the neighborhood has its share of challenges over recent years. Karen Motosue, the vice president of the Hawaii Heritage Center, which uses volunteers to help promote Chinatown, stated, “People in Hawaii think of it as a dirty place, where there’s homeless people and crime. They don’t see it as a place where they should take their tourist friends. But we see it as an enriching experience for people.”

Lynne Matusow, the secretary for the Downtown Neighborhood Board, added, “(Tourists) want to see (Chinatown). They want to take pictures. They’re fascinated by the lei shops and the open markets. I don’t think there are many places that have markets like this. They’re very different than a supermarket. We’ve been trying to turn Chinatown into a tourist attraction for years.”

Source: Honolulu Star Advertiser, 6-2-2013, 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

Waikiki Sewer System Project Finally Finished After Seven Years

On March 2006, a rupture occurred in the main sewer line in Waikiki, causing 47 million gallons of raw sewage to flow into the Ala Wai Canal. The incident, which happened in the middle of a 40-day stretch of rain, badly polluted the Ala Wai Canal and also closed several Waikiki beaches for several months. City engineers managed to repair and reinforce the main line relatively quickly at a cost of $45 million, but then spent the last five years building and installing a new 72-inch line to serve as a back up system in the event that there is a failure in the main line. This second line cost another $44 million. The Department of Design and Construction’s Wastewater Division will still be working to fix several pipes along Kalakaua Avenue and Kuhio Avenue in Waikiki over the summer. However, city engineer Eldon Franklin stated that upon completing that, “we should have a very solid system (in Waikiki) for the next 50 years.”

Source: Honolulu Star Advertiser, 6-1-2013, 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

Coast Guard Suggests Vessel Staging Area For Tsunami Warnings for Oahu

The United States Coast Guard has put together a proposal to help provide order and safety for vessels during tsunami warnings on Oahu’s South Shore. Currently, there is no clear guideline as to what to do during a tsunami warning, and there has been a massive “bunching of ships” off Honolulu Harbor as both commercial and recreational vessels try to ride out the warning in deep water. Coast Guard Lt. Commander Scott Whaley suggests that commercial ships would assemble a half-mile off Keehi Lagoon while recreational boats would stage several miles to the east. There would be a one mile-wide buffer zone between commercial and recreational vessels.

Whaley, who is also the waterways management division chief for the U.S. Coast Guard, noted that in past evacuations boaters were impatient, did not know where to go, and did not follow instructions for exiting the harbors properly. Whaley added, “If the collision happened at the mouth of the harbor, it would block off the harbor. That would keep other boats near the shore if a tsunami struck.” There will be about a month or two public comment period to provide the Coast Guard feedback. The staging plan could go into effect in July or August. For additional information email Scott.O.Whaley@uscg.mil

Source: Honolulu Star Advertiser, 6-1-2013, 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