Howard Hughes Corporation developing residential units in Honolulu

By
Real Estate Broker/Owner with (831) 626-4000 CA #01772851 HI #RB-21268

If you haven't been to Honolulu recently, you probably won't recognize it especially with all the changes in the last couple of years or so.All new International Market Place Waikiki Honolulu Hawaii

 

We hear about retailers shutting down brick & mortar stores all across the United States because online purchasing has skyrocketed. People don't go shopping like they used to because now they can do it from the comfort of their own home.

All new International Market Place Waikiki Honolulu Hawaii

Not so in Honolulu.

So what about Honolulu where I have seen the world's top brands opening up stores at the Ala Moana Shopping Center, along Kalakaua Avenue and in the totally redone International Market Place? Quite a few of these stores are in at least 2 out of the 3 places. And you know they are paying top dollar for their leases.

Miu Miu and Chanel on Kalakaua Avenue Waikiki Honolulu Hawaii

Do they expect to make a profit? Or just bragging rights as in we are "located in London, Paris, Rome, New York" and now adding Honolulu? 

Bulgari at Ala Moana Center Honolulu Hawaii

By the way, the top shopping capitals are London, Tokyo, NY, Paris, L.A., Hong Kong, Singapore, Dubai, Sydney and Milan". These and several other cities (22 of them) rake in $417.48 billion a year.

But these cities take in so much because of:

(1) sheer population,

(2) high standard of living, and

(3) high spending tourists.

Well, Honolulu has TWO out of the THREE.

Because of limited available land on an island, Honolulu has gone VERTICAL especially in the Kakaako area that lies between Waikiki and the downtown area. This is an area that used to be warehouses filled with small businesses of all types.

Fairly recently, several high rises were built in the district which uses the Ward Village is its major center for shopping and dining.

Ward Village in Kakaako, Honolulu Hawaii

Ward Village is a 60-acre master planned community.

And now, the Howard Hughes Corporation, recognized throughout the US as a preeminent developer and operator, just opened its first of four mixed use residential towers, the Waiea.

Waiea, a Howard Huges development in Ward Village, Honolulu Hawaii

 The next three towers to open are called the Anaha, Ae'o and Ke Kilohana.

By the time the Howard Hughes development of the 60 acres is completed with a total of 22 towers, there will be 4,000 residences and 650,000 square feet of retail.

At this point, three out of the four towers are priced well over $1 million up to $43 million.

Add to that the recently built Park Lane, another high end residence complex in the Ala Moana Shopping Center with sales prices starting at $6,169,000 - beautiful units with incredible ocean views across Ala Moana Park-- and you see where our real estate prices are going.

 

To answer my question whether we can sustain these high end retailers that have come to Honolulu;  yes, with real estate prices that high in the area, it stands to reason that this is the type of shopping these owners are looking for.

 

Who buys these "residences"/condos?

Clients from around the world, many of them from California where I also have a broker's real estate license.

And if you are interested in investing in real estate here in Honolulu, you can contact me either here in Honolulu or my office in Carmel-by-the-Sea for further information.

 

Aloha,

Hella

 

Posted by

Hella Mitschke Rothwell, Broker/Owner/REALTOR 

 

Let me be your independent real estate broker for oceanfront and oceanview property in California and Hawaii.  If you are a seller/owner, I will travel to your property to help get it ready for sale, then list and market it. If you are a buyer and we have a Buyers Representation Agreement in place, I will preview property on your behalf anywhere in California and Hawaii.  Please call me to discuss how I can help you.

Search Hawaii Listings on www.HellaHawaii.com

Member: Honolulu Board of REALTORS; National Association of REALTORS; Hawaii Association of REALTORS; Del Norte Association of REALTORS; California Association of REALTORS; MLSListings, Inc., the premier MLS listing service in Northern California.

 

________________________________________________________________

Hella Mitschke Rothwell (R)

Real Estate Broker/Owner/Realtor®
Licensed in California #01772851 & Hawaii #RB-21268

Tel. 808-226-1095 or 831-626-4000 

Fax 1-877-822-9332

www.HellaHawaii.com

www.HellaRothwell.com

www.RothwellRealty.com

HAWAII OFFICE: 1128 Ala Napunani Street, #1809, Honolulu, HI 96818

 CALIFORNIA OFFICE: Su Vecino Court, Lincoln & Dolores between 5th & 6th, Carmel-by-the-Sea, CA 93921

MAILING: P.O. Box 4554, Carmel-by-the-Sea, CA 93921

 
Email: HellaRothwell@gmail.com


Facebook             REALTOR LOGO      Equal Housing Logo

 

Disclaimer: Hella Rothwell does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Hawaii Honolulu County Honolulu
Groups:
Addicted to Active Rain
Bananatude

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,756,563
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Hella how interesting Howard Hughes built Marina Del Rey, CA many moons ago and now what used to be the Runway to his Airplane production is now Playa Vista the latest urban development in Los Angeles in about 60 years, Endre

Jan 17, 2017 10:49 PM #1
Rainmaker
685,902
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Endre Barath, Jr. - It's absolutely incredible what's been happening here in Honolulu. I've lived in Hawaii most of my adult life (between here and California), and these new mixed-use condo complexes give a new meaning to "luxury". And the retailers have caught on; not ANY retailers, just the high end ones. I presume the same thing has happened in Beverly Hills.

Jan 17, 2017 11:25 PM #2
Rainmaker
2,756,563
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Hella in Century City and Beverly Hills both, an average person is like a tourist... they look but can not afford it:) Endre

Jan 17, 2017 11:26 PM #3
Rainmaker
534,641
Mark Don McInnes, Sandpoint
Sandpoint, ID
North Idaho Real Estate - 208-255.6227

These are difficult prices to wrap my head around.  Not just one,  but a starting price?!  And our average selling price in North Idaho has climbed to roughly $250,000.  I still do enjoy brick and mortar shopping.  High end or not I believe it will never completely disappear.  Mark

Jan 18, 2017 12:45 AM #4
Rainmaker
685,902
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Mark Don McInnes, Sandpoint - The new construction reminds me of New York City real estate prices and Madison and Park avenues shopping. Amazing.

Jan 18, 2017 09:16 AM #5
Ambassador
2,290,216
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

I know when I was in Hawaii, I did lots of shopping when I wasn't at the beach or pool.  Makes perfect sense.  Nice insight into the Honolulu world.

Jan 18, 2017 10:46 AM #6
Rainmaker
685,902
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Belinda Spillman - You just don't find these stores in even most large cities unless it is New York, London, Paris, etc. But they are all coming here to Honolulu. Saw a sign that Dior is coming as well. I'll have to compile a list of them.

Jan 18, 2017 01:46 PM #7
Rainmaker
2,016,110
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

I know when I was in Honolulu a few years ago, I really enjoyed visiting the shops on Kalakaua because we have nothing like those types of high-end stores in Sacramento.

Jan 20, 2017 08:55 AM #8
Ambassador
3,723,844
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It looks like a very smart move providing this high-end shopping opportunity. Tourists do like to shop and bring back something from their trip. I like to see what is offered in the cities I visit.

Jan 21, 2017 08:36 AM #9
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
685,902

Hella Mitschke Rothwell

Hawaii & California Real Estate Broker
Ask me about listing or buying property in Hawaii & California.
*
*
*
*
Spam prevention

Additional Information