Howard Hughes challenges HCDA over conditions for 42-story Kakaako tower

Howard Hughes challenges HCDA over conditions for 42-story Kakaako tower

The Howard Hughes Corp. is challenging the state agency regulating development in the Honolulu neighborhood of Kakaako regarding conditions the agency set for the approval of its newest mixed-use high-rise residential project within its 60-acre Ward Village master-planned community, public documents show.

Earlier this month, the Hawaii Community Development Authority officially approved the Texas developer’s plan to develop a 42-story, 751-unit Aalii project in Kakaako. With that approval, came…

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Author: Duane Shimogawa

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Alexander & Baldwin has spent $9.5M so far on evaluating potential move to become a real estate investment trust

Alexander & Baldwin has spent $9.5M so far on evaluating potential move to become a real estate investment trust

Alexander & Baldwin Inc. has spent $9.5 million on its evaluation efforts that will be used to decided whether to become a real estate investment trust or not, according to public documents filed Wednesday.

Chris Benjamin, president and CEO of one of Hawaii’s oldest and most prominent companies, previously told Pacific Business News that it could make a decision by this spring.

Of the $9.5 million in evaluation costs, the Honolulu-based company spent $5.7 million in the fourth quarter alone,…

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Author: Duane Shimogawa

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​Hawaii has lowest real property tax, WalletHub report says

​Hawaii has lowest real property tax, WalletHub report says

Hawaii has the lowest real property tax in the United States with a rate of 0.27 percent, according to a report by WalletHub.

According to the report, Hawaii’s annual taxes on a $178,600 home is $487, 8.6 times lower than in New Jersey, the state with the highest property taxes at $4,189. WalletHub selected $178,600 as the marker because it was the 2015 median U.S. home value, according to the Census Bureau, though the median price of a home in Hawaii is much higher.

Hawaii tops the list with…

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Author: Katie Murar

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Honolulu cool when it comes to house flipping

Honolulu cool when it comes to house flipping

Honolulu, where the median price of a single-family home rose 5 percent last year, was one of the coolest spots in the U.S. for house flipping in 2016, when compared with other metropolitan areas.

According to new research from Trulia, a combination of rising home prices and a stronger labor market have helped push home-flipping numbers to their highest levels in a decade. Approximately 6.1 percent of all home sales in 2016 qualified as a “flip,” defined as the purchase of a house at a market rate…

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Author: Katie Murar

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Lawsuit claims developers of North Shore subdivision owe past dues to association

Lawsuit claims developers of North Shore subdivision owe past dues to association
The family who developed The Bluffs at Waimea, a 25-lot residential subdivision on Oahu’s North Shore overlooking the famed Waimea Bay, is being sued by the subdivision’s community association for allegedly not paying association dues, according to court documents.

The subdivision includes two streets — Tutu Place and Tutu Street — paying homage to the family’s grandma, who was the original landowner.

Duane Shimogawa
http://feeds.bizjournals.com/industry_21

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Facebook CEO reconsiders effort in Kauai land action

Facebook CEO reconsiders effort in Kauai land action
Facebook CEO Mark Zuckerberg said Tuesday that he is reconsidering his effort to gain “quiet title” from hundreds of fractional owners of small pieces of land, or kuleana lands, within his 700 acres of oceanfront land he owns on the island of Kauai’s North Shore.

Zuckerberg said in a statement Tuesday that “based on feedback from the local community, we are reconsidering the quiet title process and discussing how to move forward.”

 

Duane Shimogawa
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