Queen Emma Land Co. and Taubman Centers Taubman Centers, in partnership with San Francisco-based CoastWood Capital Group, said Friday they filed an environmental impact statement preparation notice as part of the company’s next step in exploring the redevelopment of the 2.9-acre International Market Place in the center of Hawaii’s main tourism district.

Currently, plans for the revitalization of the International Market Place call for an approximately 355,000-square-foot, three-level, open-air retail center, which will be designed to incorporate historical, cultural and educational features and opportunities, the land company said in a statement.

Read the rest of the story: “Queen Emma Land Co. moving ahead with Waikiki redevelopment”

According to the “Star Advertiser” online, “Access to the busiest streets in the Ala Moana-Waikiki region will be limited severely during next month’s Asia-Pacific Economic Cooperation meeting, under federal restrictions issued this morning.”

Cove at Waikiki is a brand new condominium project scheduled to be built in west Waikiki. Prices for one-bedroom units will start in the mid $300,000’s, and two-bedroom units will start in the $400,000’s. Completion is scheduled for 2013.

Cove at Waikiki will be located between the Discovery Bay and Windsor Condominium High-rises. This is not only a very convenient location, but also this western end of Waikiki is quiet.

Here’s a map view of the location:

“The City and County of Honolulu’s sidewalk-improvement project has meant seeing a good chunk of the heavily-trafficked Kalakaua Avenue walkways being ripped up to get spruced up. There’s hardly a stretch of that street where you don’t see Caterpillar construction equipment, fluorescent-vested contractors and laborers, makeshift sidewalks, tarps and fences.”

Read the rest of the article, “Despite the Mess, Waikiki Construction is a Good Thing“.

Mahalo for Reading.

Although no work has started on the previously announced plans to make major upgrades to the International Market Place in the heart of Waikiki on Kalakaua Avenue, we are now reading news that the nearby Royal Hawaii Market Place on Royal Avenue is also planning a major renovation.

According to the “Honolulu Star Advertiser“, “The longtime leasehold owner of the Royal Hawaiian Market Place has plans to replace the property’s hodgepodge of tired retail and restaurant kiosks with a nearly 6,000-square-foot, two-story building.”

Read the rest of the article, “$1 Million Overhaul Aims to Clean Up Waikiki Market Place“.

Description:  Sitting on the corner across from the Hilton Hawaiian Village and Fort DeRussy Park, this very popular condominium building offers unobstructed views from most of the east facing units of Diamond Head, the Pacific Ocean and the park.  The 40-story building offers some incredible views with central air conditioning and utilities included in Association dues.  Two very popular restaurants are located in the building on the ground level.  Singha Thai Cuisine is renown and Todai is well known for it’s “all you can eat” Japanese buffet.

Mixed Leasehold and Fee Simple, the lease expires in 2051.  There are a total of 151 units in one bedroom/one bath and two bedrooms/two baths configuration. 157 parking stalls are conveyed with the units plus an additional 126 are available for use by the commercial segment.  Amenities include a swimming pool, tennis court, sauna, barbeque and recreation room.

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It’s Aloha Friday Again:  Waikiki Food and Wine Festival

I was reading “MidWeek” online at www.midweek.com and was thrilled to hear about the Waikiki Food and Wine Festival scheduled for 9/29-10/1.

This September, Waikiki will be filled with the culinary creations of local and international master chefs, the unique flavors of the Hawaiian Islands, and all the excitement and festivity of what will become a premier date on Hawaii’s events calendar.

The event is the first Hawaii Food & Wine Festival, to be held Sept. 29 to Oct. 1. It is being chaired by Roy Yamaguchi and Alan Wong, both celebrated chefs, restaurateurs, James Beard Award-winners and familiar faces to local foodies.

With a theme of “Taste Our Love for the Land,” the festival will showcase the best of Hawaii: our chefs, outstanding food, and local produce and products. Besides Yamaguchi and Wong, 30 internationally renowned master chefs will star in the production, including Iron Chef Masaharu Morimoto of Morimoto Waikiki and colleagues from throughout the United States, Canada, Singapore, Japan and Australia. Many of the chefs are noted for their sustainable “farm to table” approach to cooking.

Chef Morimoto will kick off the festival Sept. 29 with “Streets of Asia: Morimoto & Friends” at the Waikiki EDITION hotel. The next evening will feature the “Halekulani Master Chefs Gala Dinner Series,” and the final night will be “From Mauka to Makai: Hawaii’s Sustainable Future” at the Hilton Hawaiian Village Resort and Spa.

Read the rest of the article, “Food and Wine Festival in Waikiki“.

According to Travel Video News, “Waikiki Beach Walk and Outrigger Enterprises Group are pleased to present the 2nd Annual Hawaiian Steel Guitar Festival this July as part of Outrigger’s ongoing Na Mele No Na Pua Music Heritage Program. The month-long celebration will feature some of the islands best steel guitarists, as well as artists new to the instrument, on stage at Waikiki Beach Walk every Sunday evening during the month, with performances on July 3, 10, 17, 24, and 31.”

“Waikiki Beach Walk and Outrigger Enterprises Group are pleased to present the 2nd Annual Hawaiian Steel Guitar Festival this July as part of Outrigger’s ongoing Na Mele No Na Pua Music Heritage Program. The month-long celebration will feature some of the islands best steel guitarists, as well as artists new to the instrument, on stage at Waikiki Beach Walk every Sunday evening during the month, with performances on July 3, 10, 17, 24, and 31.”

Read the rest of “The 2nd Annual Hawaiian Steel Guitar Festival is a Good Way to Celebrate a Month of Hawaiian Steel Guitar at Waikiki Beach Walk® July 2011“

Featured Waikiki Condo Building:  Waikiki Landmark

 ARE YOU AN OWNER?   HOME   SITE MAP   CONTACT USDescription:  There are two triangular shaped towers house one, two and three bedroom units, plus a five level block of luxury penthouses bridging the two towers. . A luxurious façade is created with aqua reflective glass and pink toned granite panels. The net effect is a distinguished landmark building.  The street level offers several large stores and an Internet café, and the second floor is office space. 

Parking is conveyed and residents have assigned parking of one, two or three spaces. Penthouse owners have five spaces. All stalls are located within a 12 story secured parking structure. A unique feature is the 15th floor outdoor recreation area highlighted by a lap pool for serious swimming, a large free form pool with a waterfall and two spas.  Other amenities include central air conditioning, individually metered for each unit.

Waikiki Landmark   
1888 Kalakaua Ave. Fee Simple and Leasehold
Waikiki – West

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Mahalo for Reading.

In Honolulu, and especially Waikiki, there are a number of condo hotels. commonly referred to as condotels. These can make a great vacation property purchase as many offer the advantages of being able to use the property when you are on vacation and let the property be rented out to hotel guests at other times, producing income to offset some expenses of ownership.

In an interview with Joel Greene, President of the Condo Hotel Center, a brokerage “specializing in selling condo hotels in the pre-construction phases, which appeared online at “the Bigger Pockets Blog“, an online real estate magazine, someof the basics are described.

Here is a part of the interview:

“BP:
What is a condo hotel or condotel?

GREENE:
Think of it as buying a condominium, although one that is part of a 4 or 5-star hotel. Therefore, as an owner, when you are on vacation, you will get the benefit of more 4-5-star services and amenities than you’d get in a typical condominium.

The big difference between a hotel and a condo hotel is that a hotel typically has one owner, either individual or corporate, but condo hotels are sold off unit by unit. Therefore, a 300 room condo hotel could have as many as 300 unit owners. A hotel guest will likely never know that the hotel has tons of owners because every room in the rental program will look identical to every other.

Condo hotels are sold as second, third, fourth or fifth homes, for that matter, but they are not typically sold as primary residences. In fact, many of them limit the unit owner’s usage of the unit because their unit is wanted and expected to be included in the hotel’s inventory of rentable units.

As the owner of a condo hotel unit, you may place your unit into the hotel’s rental program where it will be maintained and rented out for you, just like any other room in the hotel. As owner, you receive a share of the revenue that the rental of your room generates.”

Read the rest of the Interview: What Are Condo Hotels or Condotels? A Primer