Shimogawa Scoops

A family member of CNN personality Lisa Ling  has purchased a three-acre estate on the Hawaiian Island of Kauai’s North Shore for about $5.8 million, according to public records. The 4,322-square-foot home that has four bedrooms and four bathrooms overlooks Kalihiwai Bay. The property also includes a pool and spa, as well as a koi pond, studio/workshop, sauna and panoramic ocean views. The property has a total assessed value of about $4.8 million, according to tax records. Ling, the host of “This is Life with Lisa Ling” on CNN, was once a special correspondent for “The Oprah Winfrey Show” and a co-host of the daytime TV host of ABC’s “The View.” Kauai’s North Shore has been quite a draw for the rich and famous.  There have been a plethora of purchases over the last several years by these well-known individuals such as Ling, as well as Facebook’s Mark Zuckerberg, amongst several others. 

The Hotel Renew in Waikiki was recently sold for $27.7 million, according to the sales deed obtained by Shimogawa Scoops. Honolulu’s The MacNaughton Group, which sent out a press release several days ago about its purchase of the 72-room boutique hotel, did not reveal the sales price.  The purchase price equates to about $384,722 per room, which is lower than what was being paid per key about five years ago.  At that time, investors paid an average of more than $536,000 per room, according to published research reports.  This figure was tops in the nation.  While Waikiki remains a top target for investors alike, this recent purchase does show that the market may be cooling down.  Hotel Renew, which is located on Paoakalani Avenue, has a nightly room price range starting around $120 to just under $300. The MacNaughton Group has held an interest or currently holds an interest in several hotels in Hawaii.  A couple of years ago, it acquired the Lotus Honolulu ...