We are starting to notice more and more activity in the marketplace today here in Hawaii. A number of those deals are happening offline, off market, and before the general public has a chance to see them.
In recent conversations with my clients, we have discovered a ground lease that says ‘Sold’ and also an office complex on the west side, which will be closing in the next few days. Both of these are market rate caps or investment returns for the owners, and will provide substantially higher returns today than what was provided for buyers 24 months ago.