In Hawaii, Move-In Ready on The Beach Comes at a Price
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Passing by a long-vacant lot, a sign suddenly appeared heralding the future of six townhouses facing the ocean on Oahu’s storied Kahala Avenue.
The lot’s most recent history involves a Japanese billionaire who purchased over 30 homes and lots in this small enclave that he subsequently let deteriorate. Some thought his plan was to degrade the neighborhood so he could buy more at a bargain.
Publicly, he boasted of wanting to return this wealthy area back to native Hawaiians by enabling them to rent mansions for pennies. Neither can be proven true. What is known is that many of the neglected properties required razing. Along Kahala Avenue these lots turn a gap-toothed smile to the ocean.
This lot, 4607 Kahala Avenue, is slated for redevelopment. Instead of a single home across its 1.33-acre site, six are planned which has rankled some neighbors. In truth, there’s only one other multi-family oceanfront development in Kahala and it’s leasehold, expiring in 2027.
