Hospitality purchases at more than 23% were the largest share of Hawaii’s $1.93 billion commercial real estate investment in 2023, with Outrigger Hotels and Resorts’ $325 million acquisition of the Outrigger Beach Ka’anapali Hotel topping the list.
Investors hope to convert excess office space into residential rentals and fee-simple housing, hotels, educational space, retail, activity centers, food and beverage venues, and community services like dog parks and senior care.
Three months after the world’s largest retailer pulled out of Honolulu’s central business district, negotiations are pending to buy Walmart’s former downtown site.
My email inbox is usually overflowing with reader comments and questions. Sometimes they ask things I have never considered, such as when Punchbowl was first considered as a cemetery, or about proposed nuclear power plants on Oahu.
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