The first evidence of foreign investors coming back to Hawaii is the recent sale of Pacific Guardian Tower at the corner of Kapiolani Boulevard and Keeaumoku Street, near the Ala Moana Shopping Center. This eighteen story high-rise office building was recently purchased by a Japanese investor (Maruito USA, Inc). With the yen hovering around 90 per dollar, the Japanese buying power goes a long way for U.S. real estate. Undoubtedly, the location and attraction of Ala Moana Shopping Center was a high priority for this investor.
In addition, since direct flights were announced to China we have had several inquiries from investors and real estate operating companies to purchase specific types of assets to service this new visitor coming to the islands.
With this first evidence of a new wave of investors, we will be looking east again, hopefully, for many of our investment real estate buyers.