With the release of the Investment Market Report from Colliers Hawaii, both the Honolulu Star Bulletin and the Honolulu Advertiser have posted articles with a brief summary and overview of the Report.
A year of transition: They believe multifamily and retail sectors will recover this year, industrial by the beginning of the next year, office won’t see an improvement until 2011 and it could be as late as 2012 before problems in the hotel sector abate.
Hawaii Hotels: There are currently four Hawaii hotels for sale, and 11 that are distressed or in foreclosure, including the Ilikai, the former W Honolulu Diamond Head, Maui Prince, Fairmont Orchid, ResortQuest Kauai and the Hilton Kauai.
Commercial property sales: Sales have been consistently falling since the market’s peak in 2005, at $4.3 Billion. Last year, it slowed to almost a trickle at $627 million.
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