Hawaii Real Estate: Crazy Japanese Billionaire Pushes Forward with Kahala Housing Project Plan: David Geffen Gets the Hoi Polloi
Where: Oahu || Grouped in: Oahu Any Kine || Tagged:
Crazy Japanese billionaire Gensiro Kawamoto is pushing ahead with his plans to turn one of Hawaii's super luxe nabes (home to Hollywood supermogul David Geffen, among others) into his own personal housing project for people of Native Hawaiian descent. So far, the three families he has moved in have gotten along swimmingly with the neighbors.
Related Post: NYT Sez Don't Buy in Kahala!
Apparently sensitive to past claims of him evicting tenants on a dime and failing to maintain his properties, Kawamoto appears to be on it this time. In the mean time, several realtors I've talked to said potential clients are expressing reservations in buying multi-million dollar homes out that way. Me, I've always thougt Kawamoto would be better served donating the money he's spent on these houses (north of $20 million) to help construct affordable housing rather then provide a temporary giveway that he can yank the rug out on at any time (and probably will -- the man is clearly capricious).
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Comments
JD Morris said:
Cool myspace news beta!
We are doing a buyers tour to Hawaii in July and just got back form one for Maui! We would love to hear what people think about Kauai or Maui about investing.
—05/20/07
Leilani said:
I am the adoptive mother of a young man who is part Hawaiian. I wonder if anyone has Mr. Kawamoto’s address? I would like to apply on behalf of myself and my husband (retired) and my son.
We are not terribly low-income and know how to maintain property.
Maybe we would work out well temporarily in one of his houses - as we cannot really afford to move to Hawaii. I have roots in Kauai.
He is kinder than many other landlords who will not even consider such an offer.
But, I can sympathize with the neighbors, too.
—01/29/08