Kamehameha Schools has found a buyer for the Hawaii Kai Towne Center anchored by Costco.
The state’s largest private landowner announced Wednesday that California-based ValueRock Realty Partners has purchased the island’s fourth-largest shopping mall on 30 acres.
"The transition of Hawaii Kai Towne Center from a fully-owned Kamehameha Schools property to one where KS retains the land but sells its improvements strengthens our perpetual endowment in support of our educational mission," L. Jack Wong, Kamehameha’s chief executive officer, said in a statement.
Hawaii Kai Towne Center includes two suburban office buildings, a self-storage facility and a retail shopping and dining center.
Financial terms of the deal weren’t disclosed.