Lease Rent Renegotiations

Arbitration Awards

  • 2019 Haiku Point: lessor at $1,691,632; award at $975,000.
  • 2019 Executive Centre: award at $2,190,000.
  • 2019 Maui Sand: award at $7,000,000.
  • 2017 Dominis West: lessor at $3,200,000; award at $2,900,000.
  • 2014 Villa on Eaton Square: lessor at $260/sf; lessees at $226/sf; settlement at $240/sf.
  • 2012 Wailuna IC: award at $18.32/sf, 7.5% ROR.
  • 2012 Wailuna I, I-A, I-B: award at $18.25/sf, 7.5% ROR.
  • 2012 Pearl Regency: lessor at $877,120, 8% ROR; lessees at $767,480, 7% ROR ; award at $822,300, 7.5% ROR.
  • 2011 Marco Polo: lessees at $25,000,000; award at $24,800,000.
  • 2011 Hale Mahina Beach Resort: lessor at $6,810,000; award at $6,050,000.
  • 2011 Sun Village Kauai: lessor at $7,150,000; lessees at $2,220,000; award at $2,600,000.
  • 2010 Lauloa Maalaea: lessor at $82.75/sf; lessees at $63/sf; award at $64/sf.
  • 2010 Lahaina Shores: settlement at $10,000,000.
  • 2009 Waikiki Grand: award at $420/sf.
  • 2009 Waiau Garden Court: lessor at $9,990,000, 8% ROR; lessees at $7,200,000, less than 8% ROR; award at $7,040,000, 7% ROR.
  • 2009 Tropic Gardens I: lessor at $91.80/sf; award at $63.13/sf.
  • 2009 Wailana at Waikiki: lessor at $96.60/sf; award at $81.50/sf bfa.
  • 2009 San Souci: lessor at $28,000,000; lessees at $10,000,000; award at $10,400,000.
  • 2009 Waikiki Sand Villa: lessor at $318/sf; lessees at $171/sf; award at $198.58/sf.
  • 2007 Kanai A Nalu: lessor at $250/sf; lessees at $73.94/sf; award at $82/sf.
  • 2006 Royal Kuhio: lessors at $2,800,000; lessees at $965,000; settlement at $1,700,000.
  • 2006 Crescent Park: lessor at $400/sf; lessees at $301.60/sf; award at $314.03/sf.
  • 2006 Pakalana: lessors at $200/sf; lessees at $99/sf; award at $120/sf.
  • 2006 Aiea Lani Estates: lessors at $14.69/sf; award at $10.57/sf.
  • 2005 Waiau Gardens Kai D: lessor at $22.32/sf; lessees at $14.94/sf; award at $16.75/sf.
  • 2003 Hale Ono Loa: award at $74/sf.
  • 2001 Camelot: lessor at $99/sf; lessees at $70/sf; award at $69.63/sf.
  • 2000 The Moorings: lessor at $27.18/sf; lessees at $22.99/sf; award at $25.00/sf.
  • 2000 Holiday Parkway: lessor at $113/sf; lessees at $64/sf; award at $70/sf.
  • 1999 San Souci: lessors at $10,000,000; lessees at $5,930,000; award at $7,200,000.
  • 1999 Varsity Villa: lessor at $125/sf; lessees at $64/sf; award at $69/sf.
  • 1999 1350 Ala Moana: lessor at $30,000,000; lessees at $15,170,000; award at $15,200,000.
  • 1999 The Palms, Inc.: lessor at $240/sf; lessees at $77/sf; award at $81.32/sf.
  • 1998 Koko Head Villa: lessor at $73,750/apt; lessees at $47,000/apt; award at $57,292/apt.
  • 1996 Kuhio Ebbtide Development Corp.: lessor at $250/sf; lessees at $175/sf; award at $181/sf.

Negotiated Agreements

  • 2019 Canterbury Place: agreement at $1,556,800.
  • 2019 Maui Sand: agreement at $235,200.
  • 2018 Craigside: agreement at $23,700,000.
  • 2018 Yacht Harbor Tower: agreement at $6,878,000.
  • 2018 Century West: agreement at $1,639,766.
  • 2018 Waikiki Lanais: agreement at $790,300.
  • 2017 West Maui Trades: agreement at $284,986.
  • 2017 Foster Heights Villa: agreement at $22.18/sf.
  • 2017 Waiau Gardens Kai E: agreement at $19/sf.
  • 2017 Mauna Luan: agreement at $106/sf.
  • 2017 Honokowai East: agreement at $199,962.
  • 2017 Kealia: agreement at $380,000.
  • 2017 Poinciana Manor: agreement at $92.77/sf.
  • 2017 Royal Kuhio: agreement at $114.98/bfa.
  • 2016 Admiral Thomas: agreement at $16,562,500.
  • 2016 Koolau Vista: agreement at $94.02/sf.
  • 2016 Keoni Ana: agreement at $225/sf.
  • 2016 1251 Heulu: agreement at $135/sf.
  • 2016 Hidden Valley Estates: agreement at $11.40/sf.
  • 2015 Chateau Waikiki: agreement at $238.79/sf.
  • 2015 Pavilion at Waikiki: agreement at $385.99/sf.
  • 2015 Kaanapali Shores: agreement at $95/sf.
  • 2015 Inn on the Park: agreement at $115.04/bfa.
  • 2015 Waiau Gardens Kai D: agreement at $17.10/sf.
  • 2015 The Town House: agreement at $80/bfa.
  • 2015 Waikiki Landmark: agreement at $393/sf.
  • 2014 Atkinson Plaza: agreement at $86/bfa.
  • 2014 Lukepane Hale: agreement at $120/sf.
  • 2014 Pacific Monarch: agreement at $369.42/sf.
  • 2014 Liliuokalani Gardens: agreement at $244.10/sf.
  • 2014 Pan Pacific: agreement at $120/sf.
  • 2014 College Gardens: lessor at $29.70/sf; agreement at $14.62/sf.
  • 2014 Makikilani Plaza: agreement at $120.52/sf.
  • 2013 Kuhio Village II: agreement at $299.28/sf.
  • 2013 Waiau Gardens Kai B: agreement at $15.30/sf.
  • 2013 Waiau Gardens Kai A: agreement at $16.15/sf.
  • 2013 Wailuna IIA & IIB: agreement at $18.25/sf.
  • 2013 Papakea Ph-II: agreement at $56/sf.
  • 2013 The Palms: agreement at $195/sf.
  • 2013 Kaanapali Alii: agreement at $123/sf.
  • 2013 Executive Centre: agreement at $403.35/sf.
  • 2013 Waikiki Marina: agreement at $218/sf.
  • 2012 Tropicana Village Aiea II & III: agreement at $16.76/sf.
  • 2012 Townhomes at Pearlridge: agreement at $48.80/sf.
  • 2012 Maui Sands II: lessor at $123.61/sf; lessees at $77.93/sf; agreement at $88.20/sf.
  • 2012 Maui Sands: lessor at $91.20/sf; lessees at $77.93/sf; agreement at $77.93/sf.
  • 2012 Century Center: agreement at $183/sf.
  • 2011 Waipuna: agreement at $195.31/sf.
  • 2011 Camelot: lessor at $158/sf; agreement at $114/sf.
  • 2011 Foster Tower: lessor at $593/sf; lessees at $500/sf; agreement at $575/sf.
  • 2011 Hawaiian Princess: agreement at $74.07/sf.
  • 2011 Regency Park: agreement at $71.20/sf.
  • 2011 Ala Wai Mansion: agreement at $184/sf.
  • 2011 Waikiki Sunset: agreement at $214/sf.
  • 2011 Four Forty Four Nahua: lessor at $250/sf; lessees at $182.50/sf; agreement at $195/sf.
  • 2011 Puu Alii Phase II Increment – I: lessor at $29.25; agreement at $20.42.
  • 2011 Puu Alii Phase II Increment – II: lessor at $29.25; agreement at $18.61.
  • 2011 King’s Gate: agreement at $62/sf.
  • 2011 Pacific Village: lessor at $40.67/sf; agreement at $36.61/sf bfa.
  • 2011 Pacific Village Annex: lessor at $46/sf; agreement at $41.40/sf.
  • 2011 Hawaiian Ebbtide Hotel, Inc.: lessor at $517/sf; lessees at $395/sf; agreement at $405/sf.
  • 2011 Papakea Ph-I: agreement at $51.87/sf.
  • 2011 Haleiwa Surf: agreement at $53/sf.
  • 2011 Century Square: agreement at $335.45/sf.
  • 2011 Queen’s Villa: agreement at $100/sf.
  • 2011 Kahana Outrigger: agreement at $46.22/sf.
  • 2010 Waialae Gardens: agreement at $45.21/sf.
  • 2010 Waiau Garden Villa: agreement at $19.91/sf.
  • 2010 Waiau Garden Court V, VI: agreement at $18.58/sf.
  • 2010 Kona West: agreement at $32/sf.
  • 2010 Sky Tower Apartments: agreement at $112.08/sf.
  • 2010 Parkview Village: agreement at $16.76/sf.
  • 2010 1425 Punahou: lessor at $148/sf; lessees at $130/sf; agreement at $130/sf.
  • 2010 Village West: agreement at $15.88/sf.
  • 2010 Aikahi Gardens: lessor at $17/sf; lessees at $13.18/sf; agreement at $13.18/sf.
  • 2010 Makiki Plaza: agreement at $237.81/sf.
  • 2010 Yacht Club Terrace: lessor at $24.44/sf; lessees at $12.10/sf; agreement at $12.15/sf.
  • 2010 Puu Alii Phase I: agreement at $15.95/sf.
  • 2010 Channel House: lessor at $52.30/sf; lessees at $45.87/sf; agreement at $46.98/sf.
  • 2010 Yacht Club Knolls: agreement at $16/sf.
  • 2010 Pono Kai: agreement at $22.45/sf.
  • 2010 The Kuahine: agreement at $113.47/sf.
  • 2010 Pohailani Maui: agreement at $33.65/sf.
  • 2010 University Court: agreement at $113.23/sf.
  • 2010 Alaeloa: agreement at $26.90/sf (prevailing rate of return steps up from 6% to 7% over 10 yrs).
  • 2010 Napili Village: agreement at $56.51/sf.
  • 2009 3003 Kalakaua: lessor at $448/sf; agreement at $413/sf.
  • 2009 Hale Walina: agreement at $152/sf bfa.
  • 2009 Makiki Bel Aire: agreement at $115/sf.
  • 2009 Waikiki Townhouse: lessor at $163.30/sf; agreement at $158.65/sf.
  • 2009 Regency Ala Wai: agreement at $185/sf.
  • 2009 Napili Ridge: lessor at $55/sf; agreement at $46/sf.
  • 2009 1634 Nuuanu: lessor at $120/sf; agreement at $80/sf.
  • 2009 Lahaina Residential: lessor at $57.78/sf; agreement at $52.03/sf.
  • 2009 Kaioo Terrace: lessor at $237/sf; lessees at $180/sf; agreement at $180/sf.
  • 2008 Canal House: lessor at $180/sf; agreement at $171/sf.
  • 2008 Pomaikai: lessor at $300/sf; lessees at $267.67/sf; agreement at $283.84/sf.
  • 2008 965 Prospect: lessor at $132/sf; lessees at $120/sf; agreement at $122.21/sf.
  • 2008 Hale Anaole: lessor at $75/sf; lessees at $67.50/sf; agreement at $67.50/sf.
  • 2008 Century West: agreement at $90/sf.
  • 2008 441 Lewers: lessor at $260/sf; lessees at $170/sf; agreement at $209/sf.
  • 2008 The Kalia Inc.: agreement at $203.46/sf.
  • 2008 Napili Point II: agreement at $66/sf.
  • 2008 Waikiki Lanais: agreement at $90.39/sf bfa.
  • 2007 Honokowai Sunrise: lessor at $60/sf; lessees at $57/sf; agreement at $58/sf.
  • 2007 Mauna Luan: lessor at $97/sf; lessees at $87.30/sf; agreement at $87.30/sf.
  • 2007 Lehua Nani: agreement at $45/sf.
  • 2007 Pearlridge Garden and Tower: agreement at $41/sf.
  • 2007 Waiau Gardens Kai E: lessor at $20.65/sf; lessees at $19.62/sf; agreement at $19.62/sf.
  • 2006 Colonnade on the Greens: agreement at $14,761,800
  • 2006 Pearl Two: lessor at $70/sf; lessees at $45/sf; agreement at $49/sf.
  • 2006 1555 Pohaku: lessors at $98/sf; agreement at $70/sf.
  • 2006 1134 Kinau: agreement at $118.50/sf.
  • 2006 Lualualei I: lessor at $12.57/sf; lessees at $8.84/sf; agreement at $9.16/sf.
  • 2005 Waiau Gardens Kai G-1: lessors at $20/sf; lessees at $16.33/sf; agreement at $17/sf.
  • 2005 The Townhouse: lessors at $400/sf; agreement at $240/sf.
  • 2005 Royal Kahana (AOAO owned): agreement at $93/sf.
  • 2005 Inn on the Park: lessees at $353/sf; agreement at $241/sf.
  • 2005 Hawaiian Crown: lessor at $160/sf; agreement at $137.50/sf.
  • 2005 Gardenia Manor: agreement at $41.17/sf.
  • 2005 Pavillion at Waikiki: lessor at $781-$1,367/sf; lessees at $270/sf; agreement at $290/sf.
  • 2004 Heritage House: lessors at $62.59; agreement at $59.36.
  • 2004 Lakeside Coronet (AOAO owned): agreement at $59.50/sf.
  • 2004 The Magellan: lessor at $152.64/sf; lessees at $75/sf; agreement at $75.89/sf.
  • 2004 Makikilani Plaza: lessor at $150/sf; lessees at $65/sf; agreement at $75/sf.
  • 2004 Makiki Manor: lessees at $57/sf; agreement at $54/sf.
  • 2004 The Esplanade: lessor at $46/sf; lessees at $40/sf; agreement at $40.01/sf.
  • 2004 Waiau Garden Kai B: lessor at $13.67/sf; lessees at $11/sf; agreement at $12.34/sf.
  • 2004 Waiau Garden Kai A: lessor at $14.43/sf; lessees at $11.50/sf; agreement at $12.99/sf.
  • 2004 Makiki Palms (AOAO owned): agreement at $75/sf.
  • 2003 Kuhio Village II: agreement at $203/sf.
  • 2003 Hale Luana: agreement at $65/sf.
  • 2003 Ridgeway A: lessor at $19.20/sf; lessees at $13.40/sf; agreement at $16.69/sf.
  • 2003 Wilola Apartments (AOAO owned): agreement at $69/sf.
  • 2003 Ridgeway B-II: lessor at $15.11/sf; lessees at $13.40/sf; agreement at $13.60/sf.
  • 2003 Ridgeway B-I: lessor at $16/sf; lessees at $13.40/sf; agreement at $13.60/sf.
  • 2002 Ridgeway C: lessor at $15/sf; lessees at $11/sf; agreement at $11.55/sf.
  • 2002 The Scandia : lessor at $368/sf; lessees at $84/sf; agreement at $105/sf. (less than prev. period)
  • 2002 Kaimala Marina: lessor at $25/sf; lessees at $22.20; agreement at $23.80/sf.
  • 2002 Tropicana Village Phase 2 & 3: lessor at $15/sf; lessees at $11.55/sf; agreement at $13.47/sf.
  • 2002 Village Green: lessor at $22/sf; lessees at $15/sf; agreement at $17.98/sf.
  • 2001 Kaumualii Park: lessor at $33/sf; lessees at $24.86/sf; agreement at $29.64/sf.
  • 2001 Waialae Gardens: lessor at $22.02/sf; lessees at $17.75/sf; agreement at $19.89/sf.
  • 2001 Pacific Village Annex: agreement at $18.75/sf.
  • 2001 Pacific Village: agreement at $18.75/sf.
  • 2001 Foster Tower: lessor at $500/sf; lessees at $420/sf; agreement at $420/sf.
  • 2000 Ala Wai Townhouse: lessor at $93/sf; lessees at $83/sf; agreement at $84/sf.
  • 2000 Seaside Towers: agreement at $77/sf.
  • 2000 Kailani: lessor at $189/sf; lessees at $72/sf; agreement at $79/sf.
  • 2000 Bel Aire: lessees at $83/sf; agreement at $83/sf.
  • 2000 Kala Kai Marina (Parcel 19-B): lessor at $30/sf; lessees at $26/sf; agreement at $26/sf.
  • 2000 Sky Tower: agreement at $69.49/sf.
  • 2000 Koko Isle: lessor at $14,010,000; lessees at $12,000,000; agreement at $12,500,000 annual project lease rent w/option.
  • 2000 Tropic Gardens: lessor at $18,000,000; lessees at $8,750,000; agreement at $12,000,000 annual project lease rent w/option.
  • 1999 Marina Palms: lessor at $30/sf; lessees at $26/sf; agreement at $26/sf (with tiered structure).
  • 1999 Kalani Iki Estate: lessor at $20,000,000; lessees at $10,000,000; agreement at $11,000,000 annual project lease rent.
  • 1999 3003 Kalakaua: lessors at $340/sf; previous rent $305/sf; agreement at $305/sf (same rent).
  • 1998 Maile Terrace: lessor at $79/sf; lessees at $70/sf; agreement at $71/sf.
  • 1998 The Kalia, Inc.: agreement at $123/sf (less than the $126/sf of the previous period).
  • 1998 Pomaikai: lessor at $53,000/apt; lessees at $43,000/apt; agreement at $47,000/apt.
  • 1998 Kailua Palms: lessor at $50/sf; agreement at $36.50/sf.
  • 1996 Moiliili Gardens: lessor at $95-$105/sf; lessees at $70/sf; agreement at $85/sf.