Profits soar along the Kakaako waterfront

As if there was any doubt, there’s lots of money to be made from Howard Hughes’ luxury condo towers in Kakaako.

The Texas-based development company said its projects at Ward Village contributed significantly to a 60 percent increase in company profits from two years ago, earning $202 million last year.

That’s what happens when you combine prime Oahu real estate, overlooking Ala Moana Park and the Pacific Ocean, with units that average $3.6 million (Waiea) and $1.2 million (Anaha).

Honolulu has been generous to Howard Hughes, even as the city struggles to develop housing for lower-income residents. In the years to come, we look forward to the developer returning the favor.