What everyone in Hawaii’s lucrative real estate industry should know

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Takeaways from Hawaii’s Real Estate Forecast:

Mike Hamasu, Colliers (no magician hat this year)
-Investment: 2% drop in total volume expected in 2018 when compared to 2017 but volume will still be higher than normal
-There will be more smaller investments this year (under $10M) and more local players involved
-There’s a gap that’s growing as market continues to stay at its peak. The gap=buyer asking for lower price because seller may be fearing that upswing may be nearing end. 

Jack Suyderhoud, Economist
-Avg. economic upswings: 59 months, current: 73 months
-2020-2021: when upswing might end

Anthony Provenzano, Sofos: Industrial
-Developers need to build new product
-Demand for space remains high
-Rents should creep up more

Matt Raff, Standard Commercial: Office
-We need more STEM companies to expand to Hawaii to shake up the stagnant market 
-CBD still depressed. Tenant’s market 
-Douglas Emmett still looking to acquire office building to convert to residential. 
-No new office buildings expected to be built anytime soon

Todd Hedrick, TMG: Retail
-Don’t sleep on brick and mortar just yet
-Amazon, others betting on brick and mortar, especially with pick up kiosks opening at malls and its purchase of Whole Foods
-Interest in Hawaii from Mainland retailers/eateries should continue. HomeGoods, Lucky Strike, Ulta Beauty are recent examples

Note: Abe Lee won CCIM of the year award - gave shoutout to Christine Camp - saying she is one of his top students and very proud of her. 

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