Is the Kahala Real Estate boom making a comeback?
4653B Kahala Ave. sold on 9/15/2010 for $22 million cash.
It wasn’t uncommon back in the Japanese bubble of around 1990 that homes in Kahala would sell for $20 million. In fact, it almost became the norm. These days, however, the $20 million mark for Oahu luxury homes is a little more rare.
Regarding the Kahala Avenue home, I have yet to hear who the buyer was.Â One can only speculate that they were from Japan due to the strength of the yen. Perhaps it was Genshiro Kawamoto? Just prior to the closing, Kawamoto withdrew several of his listings from the market. If it was him, who knows what is on his agenda? Maybe he has a “vision” of transforming Kahala Avenue in Kawamoto Avenue? I doubt that’s something the city or residents would go for, however nobody can seem to understand Mr. Kawamoto…