Hawaii real estate by Bonnebaker

Senator Hiram Fong’s property on Kaneohe bay is back on the market.  Senator Hiram Fong, who passed away in 2004, was a well known business man in Hawaii and became the first Asian-American to become a Senator back in 1959.  From his humble beginnings as the 7th child out of 11 born of Chinese immigrants he pushed himself forward in education ultimately graduating from Harvard Law School.  He was a sharp businessman who accumulated many properties around the islands.

47-375 Kamehameha Highway, Kaneohe is just one of them. I understand that this was used as a family getaway place.  It has two houses on the property spaced out on the 2.5 acre property.  However, the real gem of this property is the working fishpond.  This is an old Hawaiian fishpond that has been relatively well maintained.  The Hawaiians were the first to use aquaculture, creating these fishponds so that they could have a constant supply of fish to eat.  This pond makes this property is a piece of history.

On the market for $2.95 Million.  Contact Malia L Meenderman, R,  for more information.

Climcher Realty Trust has partnered with Blackstone Real Estate Advisers, and affiliate of Blackstone group, are going to acquire Pearlridge Shopping Center in Hawaii for $245 million.  It is understood that 80% will be controlled by Blackstone Real Estate Advisers and 20% will be owned by Glimcher Realty Trust.

Pearlridge is Hawaii’s second largest mall behind Ala Moana Center, which is owned by General Growth, but it is Hawaii’s largest indoor mall encompassing more than 170 stores, restaurants, and services.  It also has a 16 screen theater and a monorail to connect two sections of the mall.

Just last month, the mall welcomed Bed, Bath and Beyond, it’s first Hawaii location.

The Hawaii tourism authority came out with their monthly report which stated this past July’s numbers were the best in 5 years.  The visitor statistics showed that this is the first month that all indicators rose since September 2005.  The month saw a 9% increase in visitor arrivals to 680,743.  The strong arrivals pushed up visitor spending a huge 23.3 percent to $1.1 Billion.  Some hotels experienced over 90% occupancy levels.  The visitor arrivals were largely fueled by discount packages and although July saw stronger room rates, it is not expected to continue.  Hotel operators feel that there needs to be continued strength in visitor arrivals before the room rates will see strong sustained growth.

This is more evidence that Hawaii is experiencing continued economic growth.  The Hawaii economy is doing better and better and this will continued to reflected in the Hawaii real estate market.  To learn more contact Malia L. Meenderman,R.