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Kaneohe Ranch, Castle Foundation aim to sell land

By Andrew Gomes

POSTED:
LAST UPDATED: 03:27 p.m. HST, May 17, 2013


One of Hawaii’s largest private landowners is seeking to sell its vast collection of real estate, including the core of downtown Kailua.

The Harold K.L. Castle Foundation through its asset management arm, Kaneohe Ranch Co., has retained the investment brokerage firm Eastdil Secured to sell more than 600 acres in Hawaii and almost 100 acres on the mainland, according to the investment offering.

Eastdil touts the portfolio as a “once-in-a-lifetime opportunity” to own a “phenomenal” collection that includes shopping centers, land leased to businesses and the 38-acre town center of Kailua that includes land under Foodland, Safeway, Whole Foods, Times and Macy’s.

Eastdil also said there is an opportunity to redevelop much of Kailua’s commercial center because several land leases there expire this decade.

Mitch D’Olier, president and chief executive officer of Kaneohe Ranch, issued a written statement describing the sale offer as part of a “variety of strategic alternatives” for the Castle Foundation.

“These options may include selling some or all of the owners’ real estate holdings in Hawaii and elsewhere, or retaining ownership of some or all of the real estate,” he said. “No decision has yet been made concerning whether any of these holdings will be sold.”

D‘Olier, through a spokeswoman, said he would not comment further.







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awahana wrote:
There is a dark history here.
on May 17,2013 | 01:14PM
allie wrote:
wanna make something up?
on May 17,2013 | 01:56PM
hanalei395 wrote:
Having family on the "Committee of Safety" that was involved in the 1893 "overthrow", then "buying" the Kailua ahupua'a to turn into a ranch after the "annexation"....has its rewards.
on May 17,2013 | 03:24PM
AmbienDaze wrote:
yo, prince, you flapping from the side of yo' mouf again. cut it out unless you got research to back up your allegations.
on May 17,2013 | 07:14PM
hanalei395 wrote:
`Hupo keia, `ona mau.
on May 17,2013 | 08:14PM
AmbienDaze wrote:
yeah, just as expected, you fake. lemme go google some hawaiian phrases and i'll get back to you.
on May 17,2013 | 09:02PM
AmbienDaze wrote:
Honi ko'u 'elemu, how's that?
on May 17,2013 | 09:10PM
AmbienDaze wrote:
Honi ko'u 'elemu, how's that?
on May 17,2013 | 09:08PM
kailuanokaoi wrote:
It was inevitable it would come to this sadly....Mr. D'Olier did this with Ward Center and I feared he would do the same in Kailua. Only difference - this could happen to an entire residential community. Hey maybe a new owner will actually take care of the residents. Very scary to think about what could happen. Kailua must band together as they have been to maintain our sense of community and our deep history.
on May 17,2013 | 01:46PM
Maneki_Neko wrote:
He was overheard explaining, "We got our money, over-developed Kailua, made it part of the Japan/China tour, made it congested and now we'll move on. Let's look at Kaka'ako."
on May 17,2013 | 01:48PM
iwanaknow wrote:
What are the tax ramifications on this sale?
on May 17,2013 | 01:48PM
Paco3185 wrote:
Time for OHA to step up to the plate and start buying it back?
on May 17,2013 | 01:48PM
allie wrote:
The story makes no sense. It says a decision has been made and then concludes by saying it is a possible choice among many?
on May 17,2013 | 01:55PM
jpo wrote:
Castle Foundation is nothing more than a venture philanthropist and this move continues to prove it!
on May 17,2013 | 02:07PM
jpo wrote:
Castle Foundation is nothing more than a venture philanthropist and this move continues to prove it!
on May 17,2013 | 02:07PM
Wazdat wrote:
So I wonder when the TOWERS start popping up in kailua ??
on May 17,2013 | 02:09PM
Kiyoshi2011 wrote:
Why is everyone so against them selling? Why is everyone so against someone making money? It's how business works people. People aren't in business to lose money. Get over it!
on May 17,2013 | 02:48PM
GooglyMoogly wrote:
@kiyoshi, if you've spent any time on these forums, you'd know that the people who post here are miserable pessimists who feel that anything that doesn't benefit them directly actually hurts them (and the community at large) and fail to see that change can be beneficial because their vision is clouded by cliched prejudices.
on May 17,2013 | 03:13PM
aloha637 wrote:
@kiyoshi2011 @GooglyMoogly No people in Kailua don't appreciate seeing a small town turn into the next congested Waikiki with traffic and highrises. Sometimes people like things to stay simple!
on May 17,2013 | 03:19PM
MakaniKai wrote:
AGREE aloha637! I miss the Kailua of my youth....gone to.... "well you know who and what" Simple is sweet!
on May 17,2013 | 03:56PM
Kiyoshi2011 wrote:
@MakaniKai, you go move to Kansas too.
on May 17,2013 | 04:07PM
Kiyoshi2011 wrote:
@aloha637, go move to Kansas then. I'm sure it will be a small town there for a long long time.
on May 17,2013 | 04:06PM
Kiyoshi2011 wrote:
Yeah. I guess I haven't been on these forums long enough. Sad to see small minded, selfish, people who have no understanding that business makes the world go round.
on May 17,2013 | 04:06PM
kailuanokaoi wrote:
@Kiyoshi - you are entitled to your opinion, but to call people who are not pro-development/pro-tourism small-minded and selfish just goes to show your maturity level. We are entitled to our opinions as well, and wanting to see our community remain residential and not tourism oriented doesn't mean we are against businesses and making money. There is more to this world that making money, and we happen to enjoy our upbringing our sense of relationship within our residential neighborhood. We are talking about our quality of life, our history, and preservation of this life style. No money in the world can buy this.
on May 17,2013 | 04:30PM
Kiyoshi2011 wrote:
@kailuanokaoi, why does that show my maturity level? Everyone is entitled to their opinion (your words). That was mine. I agree with everything you just said here but things change. Nothing ever stays the same. Just got to learn to accept it, hang on the memories you do have, and embrace the change. Trying to prevent change is only going to drive you crazy.
on May 17,2013 | 05:17PM
AmbienDaze wrote:
agree. and i welcome your input, i look forward to more of your astute comments.
on May 17,2013 | 07:18PM
Manoa2 wrote:
Kiyoshi, there is always more than one way to do things-- you can develop in a way that is acceptable to the community and not just you as the developer. In the long run, everybody-- including the developer benefits. Developer gets support for his project instead of fighting the community and wasting money that way-- lose lose for everyone instead of win win. So far Kaneohe Ranch has been Win Win, but if they sell and do not restrict the use of their land, someone may undo all the good they did.
on May 17,2013 | 07:34PM
Kiyoshi2011 wrote:
That's their choice though. It's their money, their hard work sweat and tears. When the community starts investing some of their hard earned money into the project, along with hours of their time, then they can say something.
on May 17,2013 | 09:52PM
swimmy808 wrote:
@Kiyoshi and AmbienDaze I know you maybe trolling here but someone needs to open your eyes about reality. At what cost? there is a consequence for every action we take on this island which greatly effects not only you, but everyone else around you, and the environment. It is easy for you to say move to another place, but this is our HOME, we need to take care of it, we have the responsibility to this land that we owe back. I can understand if you dont understand this concept because it may or may not be your home but this is the only home we got. What are you willing to sacrifice for the pursuit of business in or around your home? traffic jams daily, overpopulation, pollution, crime, increased cost of living which keeps increasing every year, no beautiful view that this island has to offer everyone? I understand at some point we need to modernize but we need to do so intelligently and not selfishly, yes business has its place in the world but look what we have to sacrifice in order to maintain something that has diminishing returns. Overall I leave you this piece of information that I grew up with and made want to become an engineer. "In life we may not choose how we come into this world, but we can choose how we leave it" and if you want to leave it like a dump, i will be right here to fight you all the way, along with the others who believe in this point of view. I will be on the lookout for people like you and I promise you that I will be there to protect what I value most, because in the end its not about ethnic race, whos rich or poor, or what has happened in the past but what we can do to make the future better and unified as people who live in this state.
on May 17,2013 | 10:19PM
mikethenovice wrote:
Time to return the land back to the native Hawaiians.
on May 17,2013 | 04:05PM
Kiyoshi2011 wrote:
@mikethenovice, seriously???
on May 17,2013 | 04:14PM
hanalei395 wrote:
Once land, a country is stolen by white supremacists, it is always kept.
on May 17,2013 | 04:50PM
Kiyoshi2011 wrote:
@hanalei395 and @mikethenovice, if you guys (I'm assuming you're both "Native Hawaiian") wanted the land so bad, you should've defeated the people who took it from you. It's not like they didn't give you a chance to defend yourself. Why didn't you just fight them off if you wanted these islands so bad?
on May 17,2013 | 05:18PM
hanalei395 wrote:
A people already dying from the white man's diseases...fighting the Honolulu Rifles, the white supremacist militia, and the U.S. Marines, Queen Lili'uokalani knew it would be a lost cause, and more of her people would die. So, she surrendered "to the superior forces of the United States".
on May 17,2013 | 05:38PM
AmbienDaze wrote:
yo, prince, i think you suffering from the effects of sifilis that captain cook brought to your islands.
on May 17,2013 | 07:22PM
Mythman wrote:
Eastdil check out the HEARTH Act and use it to return the land to its rightful original owners while still owning it and continuing to profit from it. Remember,Eastdil failed with Turtle Bay a while back.
on May 17,2013 | 04:48PM
yhls wrote:
AmbienDaze and Kiyoshi2011 must work for developers or somehow be affiliated with Kaneohe Ranch. For the record, Oahu has been decimated with over development. This is the sentiment of people who were not only born and raised here, but of those who have moved here from the mainland, regardless of race, creed or color. I'm speaking of people who are not involved in construction or development of course.There are other tropical paradises in the world. None are as developed as Oahu. And none have the kinds of development that we have planned on the horizon that aim to take away many of our green spaces. Whenever one of these large landowners sells off it's land, the community has much to be worried about because it jeopardizes our way of life and sense of place that make Hawaii special.
on May 17,2013 | 09:44PM
Kiyoshi2011 wrote:
No I'm not and no it doesn't.
on May 17,2013 | 09:53PM
AmbienDaze wrote:
DITTO.

@yhis, if you have been following my posts, they are directed at prince hanalei395, the fake.
shim is entitled to shim's opinion and it is my prerogative to express mine.

i remember when there was a brown wooden building at what is now the corner of kalanianaole and lunalilo home road that we used to stop at for shave ice on the way to waimanalo.

it is gone and so are the olden days of honolulu. development cannot be stopped, even as we long for the days of our youth.

the choo choo train may be coming and with it TOD. it will change the whole complexion of honolulu.
honolulu will be unrecognizable to anyone from the 50's.

what do you suggest we do?
on May 17,2013 | 10:47PM
kekahahi wrote:
kailua is very crowded
on May 17,2013 | 10:22PM
Hapa_Haole_Boy wrote:
Although as a kamaaina, I empathize with the sentiments here of many Kailuans, Kiyoshi and Googly are right. These lands Castle owns are their own assets to do what they want with. Does anyone tell you what to do about your car you want to sell? And all the anti-sentiments here never stop to think that perhaps the buyer(s) Castle eventually sells to may in fact continue to keep things in Kailua as is (even things as simple as non-disturb agreements may already be in place). So don't be so hasty to jump to conclusions of gloom and doom, and also keep in mind that it's ultimately an owner's choice to do what it wants with its own property.
on May 18,2013 | 09:58AM
raspberrygoat wrote:
Capitalism works better from every perspective when the economic decision makers are forced to share power with those who will be affected by those decisions.
on May 20,2013 | 12:39PM
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