Latest real-estate & development news and updates
As Maui continues its recovery from the devastating 2023 wildfires, the closure of the debris call center and the ongoing restoration of the Temporary Debris Storage (TDS) site mark significant progress. These developments offer insights for Hawaii's business community as they navigate the evolving landscape of rebuilding and restoration.
The City and County of Honolulu has chosen Pacific Housing Assistance Corp. (PHAC) as the preferred developer for an affordable housing project on city-owned land. The project is specifically designed to accommodate residents with disabilities.
The Grassroot Institute of Hawaii is being recognized for its instrumental role in advocating for streamlined rebuilding efforts in Lahaina following the devastating wildfires. Their work has led to innovative solutions, including a private permitting office, setting a potential precedent for accelerating recovery in other disaster-stricken areas in Hawaii and beyond.
Hawaii County is taking steps to alleviate the affordable housing shortage by purchasing the Dolphin Bay Hotel in Hilo and converting its rooms into 18 affordable rental units. This initiative, funded in part by federal programs, is expected to provide much-needed housing options for residents within specific income brackets.
The Hawaiʻi Climate Change Mitigation and Adaptation Commission has updated the State of Hawaiʻi Sea Level Rise Viewer, providing improved data and insights for coastal planning and assessing the impact of rising sea levels. This update offers crucial information for businesses, investors, and policymakers navigating the evolving challenges of climate change across the islands.
A trial is scheduled for January 19th on Oahu, involving two men indicted for a fraudulent real estate scheme. The defendants are accused of forging property deeds and attempting to sell them to unsuspecting buyers, highlighting significant risks in the local real estate market for potential investors and homeowners.
Recent events at a downtown Honolulu office building, including the arrest of an unofficial security guard, are highlighting severe issues with property conditions and tenant safety. This has prompted a state representative to advocate for changes to Hawaii's landlord-tenant laws, potentially impacting real estate practices and business operations.
The Mililani Teacher Workforce Housing Project, designed to provide affordable housing for educators, is moving forward. After initial community concerns and funding challenges, the project has gained momentum, promising over 100 affordable rental units for teachers in the area.
Maui's condo market is experiencing a notable downturn, with median sales prices declining steadily. This shift is prompting hesitation among buyers, as they navigate economic uncertainties and evolving market dynamics.
A local developer has unveiled plans for a luxury hotel, a condominium high-rise, and an affordable rental complex at Ala Moana Center, signaling a significant investment in Honolulu's real estate and hospitality landscape. This development promises to reshape the area's skyline and provide diverse housing options.
EAH Housing has been selected to lead the redevelopment of the Iwilei Center, a nearly 4-acre property adjacent to the future Kuwili Skyline Station in Honolulu. The project aims to create affordable housing and retail spaces, capitalizing on the forthcoming rail line's anticipated 2031 launch and fostering a vibrant, transit-oriented community.
A local developer has proposed a significant mixed-use development at Ala Moana Center, featuring a luxury hotel, a condominium high-rise, and a separate affordable rental complex. This project signals continued confidence in Honolulu's real estate market and offers potential opportunities for investors and businesses.
Honolulu officials are struggling to address hazardous living conditions in some buildings, facing challenges in serving violation notices and compelling building managers to appear in court. This situation raises concerns for tenants, investors, and the overall business environment in Honolulu.