The commercial real estate market in Hawaii saw significant activity towards the end of 2024, according to a recent report from Pacific Business News. The report details several high-value transactions that offer a glimpse into the ongoing investment trends within the state. These transactions provide a snapshot of the market, including the properties involved, the firms handling the listings and buyer representation, and the agents facilitating the deals.
One of the most significant transactions highlighted in the report was the sale of the TOPA Financial Center in Honolulu, finalized on December 20, 2024, for a staggering $105 million. CBRE Inc. listed the property at 700 Bishop St. & 745 Fort St. in Honolulu. This deal underscores the continued interest in prime real estate locations within Honolulu's financial district. The involvement of major players such as CBRE Inc. signifies the importance of these transactions in the broader economic landscape.
Another substantial deal reported was the sale of 1032 Fort Street Mall in Honolulu, which closed on January 10, 2024, for $38.25 million. Colliers International managed the listing. These transactions demonstrate a diverse range of investment opportunities within Hawaii's commercial real estate sector. According to CommercialSearch's news, the Honolulu Club building was purchased by the Liliuokalani Trust for $21 million. Such transactions denote the various players and investment interests, from large financial institutions to trusts.
The activity extends beyond Honolulu, with a $35 million transaction for a property at 69-250 Waikoloa Beach Dr. in Waikoloa. While the details of the listing and buyer representation were not made available in the provided snippet, this transaction suggests a continued interest in the outer islands, particularly in the resort and tourism-heavy areas. These transactions, as detailed in the Hawaii Commercial Real Estate, reflect a robust market for commercial properties in Hawaii, offering opportunities for investors and developers who are keen on expanding their portfolios. Investors should continue to monitor the market for new opportunities and consult with experienced real estate professionals for informed decision-making.
