$98 million dollar deal for Kahala properties and more

Japanese investor and real estate tycoon Genshiro Kawamoto has sold his collection of 27 Kahala Avenue properties and four other parcels in Windward Oahu and on Maui to local real estate firm Alexander & Baldwin Inc. in a $98 million deal announced Tuesday. A&B said it plans to clean up, refurbish and resell the parcels, some of which look like ruins with little more than the foundations of former homes, untended vegetation and swimming pools piled with rubble.

Alexander & Baldwin announced Tuesday that it has purchased 31 properties from Japanese billionaire Genshiro Kawamoto for $98 million.

Alexander & Baldwin’s property arm said Tuesday that it has acquired 27 residential properties in Honolulu’s oceanfront Kahala neighborhood, along with properties in Windward Oahu and on Maui, from Japanese billionaire Genshiro Kawamoto for $98 million.