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Hawaiʻi Scene on Social

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<title>Hawai‘i Scene on Social: Introducing the "loose" shaka</title>

In today's social media find, krystilez demonstrates a shaka so minimal it barely exists.

Hawai‘i Scene on Social: Introducing the "loose" shaka

Stephanie Salmons Headshot

Stephanie Salmons

Real Estate

Business & Tourism

Kamehameha Schools has sold its remaining interest in the Royal Hawaiian hotel, selling the lease fee landholdings under the iconic pink oceanfront resort to Japan-based Daisho Co. for $510 million.

The transaction closed Nov. 6, KS said in an 

According to KS, the property will continue to be held and operated under its current long-term ground lease to 

Daisho Co. is a private, family-owned company with hospitality holdings in Asia and the Pacific, KS noted. This is the company’s first commercial venture in the Islands.

, KS says it manages its portfolio as one that “evolves to meet the needs of the trust and the Native Hawaiian community.”

“In a globally competitive market, Ke Kula ‘o Kamehameha must manage Pauahi’s portfolio with care and strategy, mindful of how best to position our ‘āina to serve the evolving needs of our lāhui, both today and for generations to come,” the announcement states. “This means sometimes acquiring ‘āina, sometimes restoring it, and at times, when conditions call for change, releasing lands so their value can further the mission in new ways.”

KS sold the buildings and improvements at the neighboring Royal Hawaiian Center in 2014 — you can read more 

 — but said in the Nov. 7 announcement it is “not presently considering a sale” of its remaining interest in the lands underneath the shopping center.

Crystal Rose, chair of the KS Board of Trustees, said in the announcement that the trust only sells land “after much deep and agonizing consideration.”

“Our kuleana is to steward a dynamic portfolio that best serves our trust. At the same time, we know that our lands carry historical significance, especially this one, which our founder and generations of ali‘i before her had nurtured,” she says.

KS CEO Jack Wong said in the announcement that in the coming months, KS will meet with its school communities, alumni and lāhui to discuss and better explain its changing role as a landowner.

Dubbed the “Pink Palace of the Pacific,” what’s now called the Royal Hawaiian, a Luxury Collection Resort, Waikīkī, opened nearly a century ago on Feb. 1, 1927, and was built for $4 million by the Matson Navigation Co., as a “luxurious resort for Matson passengers,” a 

Following the Dec. 7, 1941, bombing of Pearl Harbor, the U.S. Navy recreation and morale office leased the Royal Hawaiian, “transforming the resort into a major rest and relaxation center for Navy personnel,” the site reads. “The resort was restored to its pre-war elegance in 1947.”

KS is one of the largest landowners in the state, according to the 

, ranking third behind the state and federal government with more than 373,000 acres.

In August 2024, KS announced it would pay a total of $872.5 million as part of a $4 billion global settlement in the wake of the 2023 Maui wildfires. Read more about that 

It’s also gearing up for another legal battle: Virginia-based nonprofit Students for Fair Admissions recently filed a 

For the latest news of Hawai‘i, sign up 

Royal hawaiian unsplash

<title>Kamehameha Schools sells land under Royal Hawaiian for $510M</title>

Japan-based Daisho Co. is now the fee-simple owner. The property, however, will continue to be held and operated under its current long-term ground lease to Kyo-ya Hotels & Resorts, KS says.

Kamehameha Schools sells land under Royal Hawaiian for $510M

It’s not news that Ward Village — Howard Hughes' 60-acre master-planned community located between Downtown Honolulu and Waikīkī — is steadily progressing with its redevelopment in Kaka‘ako.

This year alone, the developer has opened two parks, welcomed residents to its newest residential tower and broke ground on another.

But pre-sales of units within Ward Village’s newest towers have driven condo sales in the third quarter.

 notes that developer has contracted to sell 216 condo units in Hawai‘i, which represents $1.4 billion in pre-sales. 

That includes 208 units in Melia and ‘Ilima, luxury towers planned at the current site of Ward Centre, which were 57% pre-sold by Sept. 30, the end of the quarter.

The 33-story ‘Ilima Ward Village will have 148 homes while Melia Ward Village, its 35-story companion, will offer 221 residences. 

Together, those towers generated $280 million in penthouse pre-sales, an announcement from Ward Village noted. 

The Launiu, Ward Village’s 11th residential tower, which broke ground 

, was a little more than two-thirds pre-sold by the end of Q3.

Ward Village has sold out its first eight mixed-use residential towers: Waiea, Anaha, Ae‘o, Ke Kilohana, ‘A‘ali‘i, Kō‘ula, Victoria Place and Ulana Ward Village.

New residential buildings under construction or in development at Ward Village include The Park Ward Village, Kalae, The Launiu Ward Village, Melia Ward Village and ‘Ilima Ward Village.

The developer says 2,070 residences have been sold or pre-sold that across the community’s six newest towers, including 100% of the newly opened Ulana Ward Village, 97% of The Park Ward Village

, 93% of Kalae and 68% of The Launiu Ward Village.

The success of Ward Village underscores the enduring value of a long-range strategy that prioritizes quality, sustainability, and community connectivity in the heart of Honolulu,” said 

Doug Johnstone, president of Hawai‘i Region and National Condominium Development for Howard Hughes Communities

, in a statement. “By delivering homes across diverse market segments, activating vibrant public spaces, and cultivating a dynamic retail environment, Ward Village has created a thriving community that supports housing production, job growth, and Hawai‘i’s broader economy.”

Also in Ward Village, Ka La‘i o Kukuluāe‘o Park 

 and the makai phase of Victoria Ward Park 

, located between residential towers Victoria Place, which 

, and is bordered by Auahi Street on one side and Ala Moana Boulevard on the other.

Additionally, a $17.8 million elevated walkway connecting Victoria Ward Park Makai to Ala Moana Beach Park and Kewalo Basin 

01 Ward Village Aerial courtesy of Ward Village

<title>Ward Village tops $1.4 billion in pre-sales</title>

The developer says that 2,070 residences in its six newest towers have been sold or pre-sold.

Ward Village tops $1.4 billion in pre-sales

A former office building, just a short distance away from Ala Moana Center and near the planned Ala Moana rail station, will soon have new life and bring dozens affordable rentals to Honolulu's urban core.

Dubbed Amana Lofts, JL Capital's adaptive reuse project will convert the five-story building at 765 Amana St. in Ala Moana into 32 studio, 20 one-bedroom and 12 two-bedroom apartments.

The units will be available for households making at or below 80% of the area median income. According to 

 published by City and County of Honolulu, 80% AMI is $121,600 for a household of four, 

however, qualifying incomes vary based on household size.

[{"type":"text","text":"A ceremonial groundbreaking and blessing for the project was held Friday."}]

[{"type":"text","text":"JL Capital is a real estate and private equity firm founded in 2017."}]

CEO Tim Lee said in a statement that by building affordable rentals in Ala Moana, "we're putting people closer to their jobs, transportation and daily needs, helping to reduce both housing costs and commute times for local residents.

He told Aloha State Daily after the ceremony that JL Capital acquired the property in 2018 with the rental conversion in mind.

"We have long-term plans for this area," he said. "Our focus is here on Ala Moana and this was sort of a passion project for everyone in our company. ... We're in this live-work-play area called Ala Moana, and we think this is going to be a great addition to this area."

, a $507 million mixed-use twin tower condominium and hotel at 1388 Kapi‘olani Blvd. Underway now is a luxury residential and mixed-use project at 1538 Kapi‘olani Boulevard called 

. Designed by architectural firm Bohlin Cywinski Jackson, its sales gallery opened last month.

Amana Lofts, however, is one of two projects JL Capital has underway that will offer 80% AMI rentals. 

, is set to get underway in about six months and will create another 37 units, Lee told ASD.

When asked why affordable housing in general is something the developer wanted to pursue, Lee said, "We need rentals. We need rentals in the city and we want to help meet that need."

Ahead of the ceremony, Michael Vachio, senior vice president of construction and development, told ASD that the apartments at Amana Lofts will have high ceilings and high quality, "very modern finishes."

"We think that it's really going to help families," he said. "This is the urban core. It allows them to walk to the mall. It's in close proximity to the bus routes as well as the future rail station."

The development also will have car share and bike share options, on-site parking and elevator access.

Vachio said an affordable rental project is "good for the community. ... We do need more affordable housing and that's something that we want to do."

The adaptive reuse of an existing building offers cost savings because you don't have to build new spaces or structures, he said. For this project, Vachio said the developer plans to gut the entire building and "clean everything out, except for the structure." The spaces, he said, will be "basically all new except for the concrete."

Work is expected to be finished by June 2026. Vachio said the estimated cost of the project is around $14 million.

Hawai‘i Scene on Social: Introducing the "loose" shaka

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Hawai‘i Scene on Social: Introducing the "loose" shaka

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