It’s been a little over a year since Alexander and Baldwin have purchased Genshiro Kawamoto’s portfolio of properties in Kahala. Their process of repositioning and liquidation began late last year where they sold a handful of properties off market. Earlier this year, they decided to list another handful of properties with several local companies.
4663 Kahala Ave. (MLS# 201400491) is the priciest listing still available in the portfolio
2014 Sales (Year-to-Date)
Although the year started off slow, A & B has been making some more progress in the sale of these assets. Here’s what has closed so far this year:
- April 1 – 4823 Kahala Ave. closed for $8,800,755 (Land)
- April 1 – 4630 Kahala Ave. closed for $2,430,000 (Land)
- May 25 – 4332 Kahala Ave. closed for $2,900,000 (Home)
- September 2 – 4578 Kahala Ave. closed for $2,650,000 (Home)
- November 7 – 4337 Kahala Ave. closed for $1,500,000 (Home)
- November 14 – 4653 Kahala Ave. closed for $4,936,800 (Land)
- November 14 – 4653 Kahala Ave. #B closed for $14,451,200 (Land)
The largest was the two combined oceanfront parcels this past month that sold to an investment group out of Singapore. Singapore Buyers have now accounted for the 2 largest sales (both east Honolulu oceanfront) on Oahu year-to-date. On September 4, another party bought 5415/5435 Kalanianaole Hwy. from the Outrigger Canoe Club.
Inventory Still Available
Here’s what’s currently listed in Alexander & Baldwin’s Kahala Portfolio (not including the one above):
4767-D Kahala Ave. (MLS# 201414306) is an oceanfront parcel available for $13.8 million
4439 Kahala Ave. (MLS# 201400479) is another oceanfront lot available for $13.5 million
4834 Kahala Ave. (MLS# 201419868) is a home on the mountain side of the street for $4.6 million
4474 Kahala Ave. (MLS# 201400464) is a lot on the mountain side of the street for $3.375 million
4398 Kahala Ave. (MLS# 201419178) is another non-oceanfront home for $3.25 million
4758 Kahala Ave. (MLS# 201400467) is another lot available just under $3 million
More to come in 2015?
Not everything in A & B’s portfolio is listed in MLS. To learn more about what might still be available or other opportunities in Kahala outside of their portfolio, feel free to contact me for more information.
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