Kawamoto unloading

Published 14 years ago. Posted in Rantings and Ravings

I had heard several weeks before the homes started hitting the market that Japanese Billionaire Gensiro Kawamoto was going to sell some of his Kahala and Hawaii Kai holdings...but whats the impact? It remains to be seen. The upper end of the market in Kahala has been pretty stagnant and all of Kawamoto's homes are in bad condition. So if you buy a big tear down on Kahala Ave for $2.5 Million bucks so still have to rebuild or rehab the house for another cool million. Since only 3 homes over $3 Million have sold in the past 6 months in Kahala... whats the absorption rate on a dozen of these homes...we shall see. Kawamoto newspaper article