'Ohana by Hawaiian Airlines Gets Ready for Debut

'Ohana by Hawaiian is scheduled to make their debut service from Honolulu International Airport to the islands Molokai and Lanai.  President and Chief Executive Officer for Hawaiian, Mark Dunkerley, stated, "Frankly, we are in a situation where we believe that the existing operators don't deliver an adequate level of service. This is going to be a very small operation but nonetheless one which we think, allows us to fill a puka in our network." Currently Hawaiian Airlines takes controls 85 percent of the inter island market, and this new service to the smaller airports will only help secure its dominant position.  'Ohana will fly 48 seat ATR 42 aircraft which utilize twin-engine turboprops.  They will offer three daily flights to Molokai and two flights per day to Lanai.

Island Air announced last month that they will no longer be offering service to the island of Molokai.  CEO for Island Air, Paul Casey, stated, "The increased competition did not play a role in the decision. Based on Ohana's seat capacity to Molokai, we feel that the island will have adequate air service to meet its needs."

Peter Forman, an aviation historian, commented, "If 'Ohana by Hawaiian follows Hawaiian Airlines' tradition of reliability and on-time service, it will raise the bar for competitors in these less populated markets. What I foresee is a significant improvement at Island Air in coming years, so overall the level of service by both carriers will benefit the people of the neighbor islands."

Source: Honolulu Star Advertiser, 3-9-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
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"Save Our Kakaako" Demonstrators Protest Unchecked Redevelopment

Over 130 members of various nonprofit organizations joined together under the banner of "Save Our Kakaako" over the weekend to protest the proposed redevelopment of the neighborhood which they believe is proceeding unchecked.  The biggest concern seems to be focused around two Office of Hawaiian Affairs-backed bills that would allow for residential development to occur on the Makai Kakaako parcels that are now owned by OHA.  In 2006 a law was passed that prohibited projects on the ocean-facing side of Ala Moana Boulevard, but at that point the land was owned by the state and not the Office of Hawaiian Affairs.  Ron Iwami, the president of Friends of Kakaako, stated, "We want to keep the makai lands residential-free for all the people of Hawaii, including Native Hawaiians." Sharon Moriwaki, the president of Kakaako United, added, "This is a people's war. HCDA, the steward of this land, has sold us out. We have no chance. We have to get to our legislators."

Source: Honolulu Star Advertiser, 3-9-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Oahu Real Estate Sales Data for February 2014

Source: Honolulu Board of Realtors

Single Family Home Sales for the Island of Oahu:
February 2014 - 190 Homes Sold - $679,000 Median Price
February 2013 - 201 Homes Sold - $600,000 Median Price

Condominium Sales for the Island of Oahu:
February 2014 - 296 Condos Sold - $359,450 Median Price
February 2013 - 279 Condos Sold - $340,000 Median Price

Source: Honolulu Star Advertiser, 3-7-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
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UH Manoa's Athletic Complex Has New Price Tag of $16.7 Million

The Clarence T.C. Ching Athletic Complex at the University of Hawaii's Manoa Campus will now cost $16.7 million, approximately $3 million more that the school's last estimate. According to Glenn Shizumura, the director of the University's Office of Internal Audit, the increase was due to a number of things, including design changes, change orders, weather, redeployment of workers to head off the threat of NCAA sanctions, and discovery of asbestos.  University of Hawaii regent Barry Mizuno lamented that the project was originally supposed to cost $10 million.  Mizuno stated, "From $10 million to $13 million and then to $16 million, that's terrible, terrible."

The Ching Complex will be home to the school's women's track and field, cross country, soccer and sand volleyball teams.  There will also be a practice field for football as well as intramural and community events.

Source: Honolulu Star Advertiser, 3-6-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
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Historic Pump Station in Kakaako to Become Resource Center for Seniors

The historic 114-year-old Ala Moana Pump Station in Kakaako will be rehabilitated and turned into a new resource center for seniors.  The Pacific Gateway Center has received a $1 million grant through the state Legislature to establish a community resource center in the community and had approached the Hawaii Community Development Authority to use the Ala Moana Pump Station, which has been abandoned for approximately 50 years.  HCDA executive director, Anthony Ching, commented, "It seemed like a good fit. This is the most credible public purpose."

Source: Honolulu Star Advertiser, 3-6-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Our Kakaako Project to Offer Free WiFi

Kamehameha Schools has announced that they will be offering a free high speed public wireless network through Hawaii Dialogix Telecom for their entire Our Kakaako project.  It will take a total of two more weeks for the entire nine block community to be completely covered, but once completed, Kamehameha Schools has stated that this network will be the biggest and fastest free system in the state.  Erin Kinney, the development manager for Kamehameha Schools, stated, "It is free, it is fast and it is available to anyone who wants to use it.  We will be able to strengthen our community in so many positive ways through greater connectivity. It will be seamless. You're not going to get cut off when you walk block to block in the master plan." Unfortunately, the wireless network is designed for use on the ground, so those people living in high rise buildings would not be able to connect to the free system.

When finalized, the Our Kakaako project will have a total of 2,750 residential units in seven towers and 300,000 sq ft of commercial space.  The neighborhood would cover 29 acres of land on nine blocks, bordered by Ala Moana Blvd, South Street, Halekauwila Street, and Kamani Street.

Source: Honolulu Star Advertiser, 3-5-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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Redevelopment of International Market Place in Waikiki Begins

The International Market Place in Waikiki has begun the groundbreaking process for a $350 million redevelopment that will completely update the property.  Queen Emma Land Co. has partnered with Taubman Centers to design and create a three-story mall, which will house 75 tenants and have a new 700-stall parking garage.  There will be a total of 360,000 sq ft of retail space anchored by Sacks Fifth Avenue which will be approximately 80,000 sq ft in size.  At the ground breaking ceremony, chairman of the board of trustees for Queen Emma Land Co., Rick Tsujimura, stated, "This is really a historic day for all of us. The International Market Place has been an iconic fixture in Waikiki. We should treasure those memories, but they should not constrain our future."

It is estimated that this redevelopment would provide about 1,000 construction jobs and 2,500 permanent jobs once the project is completed.  The International Market Place is scheduled to reopen in the spring of 2016.

Source: Honolulu Star Advertiser, 3-4-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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