The market is showing signs of a very distinctive pick-up in activity in the spring of 2010.
In the first quarter of 2010, there were 17 sales of commercial and investment properties in the State of Hawaii. In the month of April 2010, there were 15 recorded sales. In addition, the dollar volume of sales seems to be picking up, topped off by a $32MM sale in April of this year.
We are seeing investor sentiments improving toward commercial real estate, particularly, when measured against reproduction costs. Investors for this one month are voting with their checkbooks that commercial real estate in Hawaii is a good investment and not as susceptible to the ups and downs of other equity markets across the globe.
There are several “Call for Offers” this week so we expect to see continued interest in good quality Hawaii Investment Properties.