遍赏椰林落日、坐拥碧水蓝天!轻松拥有世界级稀缺房产,夏威夷置业之旅 接受预订中。

Hawaii Property Tour

Property tour 2

夏威夷: +1 808 218 8812
上海 : 86 – 021 – 51099723
微信 “KeithHawaii”

网站: http://www.bs-hawaii.com
网站: http://ihawaii.taobao.com

旅游牌照: Lic.TAR-6886

房地产牌照: Lic.RS-72954



NTA (National Tour Association) 美国全国旅游协会


#Chinese #china #luxury #夏威夷房地产 #夏威夷檀香山 #美国夏威夷旅游 #夏威夷自由行 #自助游 #夏威夷旅游 #夏威夷包车 #夏威夷酒店 #夏威夷婚礼 #火山之旅 #恐龙湾 #珍珠港 #波利尼西亚 #自助游 #中国 #中国人民 #海外房产投资 #国外房产 #海外购房团 #美国买房 #夏威夷 #檀香山 #茂宜岛 #大岛 #可爱岛

Hawaii’s New Foreign Real Estate Buyers


We have just launched our updated website. Check it out!


Wealthy Koreans and Chinese from three locations join Japanese and Canadian buyers in the local market


Honolulu is one of the top 10 real estate markets in the country for international buyers.

Maybe you’re not surprised, but, according to Inman News, a prominent national source of real estate intelligence, 3.6 percent of all homes sold on Oahu between May 2011 and January 2012 went to buyers with a foreign tax bill address. That’s roughly twice the national average.

On the one hand, this factoid seems to confirm the obvious. Resort towns have always gotten the biggest slice of the international market, which is comprised mostly of affluent people seeking second homes. In that sense, high-end communities like Kahala, Wailea and Hualalai look like the quintessential market for these wealthy foreigners. But if you look closely at the numbers, the story becomes more complicated.

Bigger Picture

That’s because Hawaii differs from other U.S. markets in important ways. First, Hawaii real estate doesn’t offer the bargains international investors can find elsewhere. According to the Inman report, we don’t have the high vacancy or foreclosure rates that have depressed prices in Phoenix, Las Vegas and Florida. For example, in 2010, Cape Coral-Fort Myers, Fla., one of the top 10 markets for international buyers, had a vacancy rate of 37 percent, the highest in the country. The national figure is about 13 percent. In Hawaii, the vacancy rate is barely more than 8 percent.

That same divergence is reflected in the low number of foreclosure sales in the Islands. In Miami, during the fourth quarter of 2011, foreclosure sales accounted for 24 percent of all residential sales. In Phoenix, it was 39 percent. In Las Vegas, the country’s distressed property capital, an amazing 58.7 percent of all homes sold were foreclosures. In contrast, just 6.1 percent of Honolulu sales were foreclosures. The comparative health of Hawaii’s real estate market hasn’t yielded bargain-basement prices, so it’s not surprising that most foreign buyers have looked elsewhere.

Home Front

The biggest difference with the Hawaii market may simply be the mix of foreign buyers. Across the country, Canadians make up 23 percent of all international buyers, followed by the English and other Europeans. In Florida, which has six of the top 10 markets for foreign buyers, that trend is even more pronounced, with Canadians comprising more than 70 percent of the international market. In Hawaii, of course, Asian buyers predominate. According to the National Association of Realtors (NAR), Japan-based buyers still account for more than 58 percent of all international sales in Hawaii. Canadians are also an important market, but they make up just over 16 percent of foreign buyers. The next largest group is the fabled Chinese, comprising nearly 6 percent of all international sales.

This is a familiar landscape to Hawaii Realtors who specialize in foreign buyers. But there are subtle changes obscured in that data. Those changes aren’t lost on Patricia Choi of Choi International, Hawaii Business’s Top Realtor for three out of the past five years, largely due to international sales.

“Now, we have two or three new sets of buyers,” Choi says. “The first is the Koreans. They don’t have to have a visa anymore, and they can stay up to 90 days. Because of that, we have more people from Korea who are looking to buy vacation homes here. And they come in all ages, from young ones who’ve been very successful to older retirees.

“The second group is the Chinese – and actually you have three groups of those. You have the ones from mainland China, those from Taiwan and those from Hong Kong.”

It’s the group from mainland China that has some Realtors on the edge of their seats. After all, the country’s booming economy has produced hundreds of thousands of new millionaires, and, according to Juwai.com, a popular Chinese real estate portal, as many as 85 percent of them would like to immigrate to the U.S. or send their children to school here. That’s why smart Realtors like Choi see so much potential in the China market. Although Choi says that 60 percent to 70 percent of her business last year was from Japan, she’s focusing more and more attention on China.

“I’ll be leaving on a flight to China next week,” she says. “This is my third year in a row that I’m going to China.” She’s also going to Seoul this year instead of Tokyo.

Understanding foreign buyers isn’t just important for Honolulu Realtors; foreign buyers also play an important, albeit diminished, role in the market for high-end property on the Neighbor Islands. “We currently have about 300 members (owners),” says Rob Kildow, principal broker and director of sales for Hualalai Realty, which handles sales for the Hualalai Resort on Hawaii Island. “It looks like about 3.5 percent of our members are Japan-based. We also have members from Australia, Canada, Holland, Hong Kong, Korea and Singapore; but everybody is less than 1 percent except the Japan contingent.” Overall, though, he estimates nearly 20 percent of his sales are to foreign buyers. Given the amount of international money coming in, Kildow, like Choi, is keenly aware of what drives foreign buyers.

“Without getting too complicated,” he says, “a lot of it has to do with currency valuations. With the weak dollar, that’s made us more attractive to international buyers.” Probably the best example is the yuan, which is up 34 percent against the dollar over the past three years. That amounts to a 34 percent discount on U.S. real estate for Chinese buyers. That same scenario is playing out with the yen, the Korean won and the Canadian dollar.

“Lift is also an important part if it,” Kildow says. “Now, for example, there’s a once- or twice-a-week flight out of Hong Kong. There was an almost immediate jump in buyers with that. That works whenever you get more lift; you always get a pick-up in interest from those areas. People are creatures of convenience.”
Probably the most important issue for foreign buyers is the difficulty in obtaining financing. Banks simply don’t want to offer a typical mortgage to foreign nationals, which means these transactions often involve large quantities of cash. This is particularly troubling for Chinese buyers, who, because of tight currency regulations, often have difficulty getting money out of China.

“You can get money out of Hong Kong or Taiwan,” says Pat Choi, “But out of mainland China, you’re restricted to something like $50,000 per person per year.”
This is a serious impediment to buying real estate, she notes. “Some are able to get 50 percent loans. And they have big families. But most of the people doing this are pretty affluent; they’re people who have a lot of cash saved up.”

According to Choi, if young Realtors want to get into the international market, they have to understand all these issues. “They need to educate themselves,” she says. “They need to go to the NAR meetings and be active in the international section.” Maybe most important, they need to understand the needs of the international buyer. Choi recommends traveling to foreign countries and learning what potential buyers are like in their own environment.

She offers one more piece of wisdom: “This doesn’t happen overnight. It takes time.”

Top 10 U.S. Markets for Foreign Buyers

Foreign buyers as a percentage of all buyers in each market

Lakeland-Winter Haven, Fla. 9.2%
Cape Coral-Fort Myers, Fla. 8.5%
Orlando-Kissimmee-Sanford, Fla. 6.9%
North Point-Bradenton-Sarasota, Fla. 6.5%
Miami-Fort Lauderdale-Pompano Beach, Fla. 5.3%
Phoenix-Mesa-Glendale, Ariz. 4.2%
New York County, N.Y. (Manhattan) 3.7%
Honolulu 3.6%
Tampa-St. Petersburg-Clearwater, Fla. 2.9%
Las Vegas-Paradise, Nev. 2.8%

Photo: Thinkstock

Source: Inman News, reporting on all homes sold between May 2011 and January 2012.

Photo: Thinkstock

Launch a Business, Get a Green Card

One way Chinese real estate buyers are getting around visa rules and currency restrictions is by investing in U.S. businesses. According to the U.S. Citizenship and Immigration Service, over the past four years there’s been a 35 percent up-tick in EB-5 applications, a program that awards permanent resident status to foreigners who invest at least $500,000 in new U.S. business ventures that create a minimum of 10 jobs. Last year, 78 percent of all applicants for the program were Chinese nationals.

Hawaii Business

Top US & Foreign Buyers of Property in Hawaii 美国夏威夷房地产物业的外国买家报告




American Luxury Real Estate Popular With Chinese Buyers

American Luxury Real Estate Popular With Chinese Buyers

Buying overseas real estate is popular among affluent Chinese for a number of reasons. They may be buying property for a son or daughter studying overseas, as a tangible investment or the first step in a long term goal of emigrating to a new country. The following is a curated list of articles that provide insight into the growing trend of Chinese purchasing real estate for personal and investment reasons overseas.

Brilliant Space Hawaii 柏瑞安夏威夷房地产: Welcome 欢迎您

夏威夷檀香山房地产 – 从咨询、搜寻、看房、购房到物业管理,柏瑞安夏威夷置业服务团队针对夏威夷房地产市场,为客户提供量身定制的一站式夏威夷物业购置服务,以及各类增值服务包括旅程统筹、语言文化咨询、私人包机等。立即联系我们,购置您的夏威夷梦想之家!


We have just launched our updated website. Check it out!


We’re not overseas Real Estate Agents, we are property and lifestyle consultants managing the project with you, on your behalf.

Brilliant Space Hawaii (BSH) provides personalized International Concierge Services within the real estate markets of Honolulu Hawaii, USA. When investing in overseas property there are many different aspects that need to be considered such as, how to finance your purchase, how to protect yourself against currency fluctuations, what is the best taxation vehicle and how to maximize rental returns.
In response we have designed a comprehensive range of services and have partnered with some of the best professionals in their industries, who are experienced in dealing with the global property investor.

柏瑞安 Brilliant Space Hawaii (BSH) )豪华置业服务针对美国夏威夷房地产市场,提供从看房到交房的一站式、量身定制的置业综合服务。
柏瑞安 Brilliant Space Hawaii (BSH) 精致生活服务针对来到夏威夷置业或游玩的个人和企业客户,在当地提供全面细致的服务,帮助快速融入新环境,享受高品质的生活!


#Chinese #china #luxury #夏威夷房地产 #夏威夷檀香山 #美国夏威夷旅游 #夏威夷自由行 #自助游 #夏威夷旅游 #夏威夷包车 #夏威夷酒店 #夏威夷婚礼 #火山之旅 #恐龙湾 #珍珠港 #波利尼西亚 #自助游 #中国 #中国人民 #海外房产投资 #国外房产 #海外购房团 #美国买房 #夏威夷 #檀香山 #茂宜岛 #大岛 #可爱岛

Developers build foundations for global growth

Developers build foundations for global growth

Hu Yuanyuan  2013-02-20 09:04:38

Property companies home in on lucrative deals amid slowdown

Chinese property developers are increasingly looking overseas for opportunities created by the global economic slowdown.

China Vanke, the country’s largest real estate developer by market value, has teamed up with the US real estate firm Tishman Speyer Properties to develop a key site in San Francisco, Vanke confirmed this week.

The move marked the developer’s first venture into the US market.

Details of the deal will be released on Friday, the company said.

The deal came after Vanke set up a research team last year to examine development prospects in the US.

The company’s global strategy will be boosted after it announced a plan to move trading of its non-renminbi shares to Hong Kong last month.

Also last month, the Shenzhen-based developer joined hands with New World Development to purchase a residential site in Hong Kong for HK$3.4 billion ($439 million), its first project outside the Chinese mainland.

“After 30 years of development, our go-global strategy is ready to be implemented. And access to an open international capital market is necessary for such a strategy,” said Tan Huajie, Vanke’s board secretary.

Qin Xiaomei, director at the strategic consulting department of Jones Lang LaSalle Beijing, an international real estate service provider, said: “It is just the beginning of Chinese property developers going global.”

Other Chinese real estate companies have made inroads into overseas markets.

Guangzhou-based Country Garden, which trades its shares in Hong Kong, set up a joint venture with Malaysian real estate firm Mayland in 2011 to develop two residential projects, taking a 55 percent stake. This was foll-owed by Country Garden’s development of a commercial complex in Malaysia last year.

These projects, targeting local as well as Chinese buyers, will open for sale this year.

“We are also on the lookout for quality land parcels overseas. If there are appropriate opportunities, we will not miss them,” one of the company’s executives, who requested anonymity, said.

Beijing Capital Land signed an agreement last year to purchase a land parcel in France on which it plans to establish a Sino-French economic zone.

Wanda Group, the country’s largest commercial property developer, has revealed plans to invest $10 billion in the US over the next decade, particularly in hotels, retail and commercial properties.

Developers are following the trail of Chinese buyers of overseas properties, Qin, from Jones Lang LaSalle Beijing, said.

“But a number of institutions are also finding opportunities overseas amid the global economic slowdown.”

Chinese make up the largest group of overseas buyers in the US property market, accounting for 11 percent of sales, Wang Shi, Vanke’s chairman, said on his micro blog.

Qin added that Chinese buyers have been encouraged by the appreciation of the yuan and the government’s tough real estate policies at home to invest in properties overseas.

“We have noticed a growing enthusiasm among Chinese investors to buy overseas real estate, and the UK and the US are their favorite markets.”

Meanwhile, institutional investors from China are also active in examining overseas opportunities.

China Investment Corp, the country’s sovereign wealth fund, is reportedly one of a trio of Asian investors vying to buy an 800 million pounds ($1.3 billion) office complex in London. The Financial Times, citing unnamed sources, said the deal would be the most expensive property deal in the UK since the start of the financial crisis in 2008.

“A number of real estate funds and property developers have contacted us seeking bargain projects overseas,” said Zhang Ping, head of research in Beijing for the international real estate service provider Cushman & Wakefield.

According to Zhang, compared with international competitors, Chinese property investors are sometimes a bit slow in the decision-making process, and as a result have missed some good prospects.

“In some cases they are still unfamiliar with the legal and investment environment in target countries, but generally I think they are still a bit conservative.”


Hawaii Real Estate Paradise Returns With Goldman Loan

Hawaii, buffeted in the aftermath of the U.S. recession and Japan’s tsunami, is benefiting from a travel rebound that’s sent tourism revenue to a record and spurred real estate investments across the islands.

Goldman Sachs Group Inc. (GS) last month announced a $1.85 billion loan for a once-distressed hotel portfolio that has five Hawaiian properties, including the Sheraton Waikiki and the Westin Moana Surfrider in Honolulu. Companies from Walt Disney Co. to Starwood Hotels & Resorts Worldwide Inc. (HOT) are expanding resorts. On the Big Island, the first new residential development in at least five years is starting construction.

Property investors and lenders are seeking to take advantage of increased demand from affluent Asian travelers and visitors from Northern California enriched by the technology- industry boom, according to Honolulu-based Hospitality Advisors LLC, an industry consulting firm. Oahu, which attracts the most visitors of Hawaii’s eight major islands, has the highest hotel occupancy among the top 25 U.S. markets, research firm STR said.

“What’s driving Hawaii now, particularly Oahu, is the resurgence of the Japanese market — there was a lot of pent-up demand after the tsunami — and substantial growth in Chinese and Korean numbers because of the increase in wealth in those regions,” said Joseph Toy, president of Hospitality Advisors.

Lodging and tourist-industry revenue, including room rentals and food and retail sales, rose 15 percent to a record $3.62 billion this year through Sept. 30, according to Hospitality Advisors. That compared with a low of $2.59 billion in the first nine months of 2009, when the U.S. was in a recession after the credit crisis.

Japan Tsunami

Travel was also reduced by the March 2011 Japanese earthquake and tsunami that killed thousands of people and led to the worst nuclear crisis since Chernobyl, according to Hawaii’s tourism board. Mary MacNeill, managing director at Fitch Ratings, predicted at the time that the disaster would set back a recovery by one to two years.

“Tourism bounced back sooner than expected,” she said in an e-mail last week. “The Japanese tourism decline was not as great as originally expected. In addition, other markets, particularly China and Korea, had a large increase in travel to Hawaii.”

The average property value for Oahu hotels probably will climb 24 percent to $547,764 a room by 2015, according to HVS and STR, developers of an index that tracks supply and demand, profit and loss forecasts, and investment yields. Oahu’s projected per-room value is the second-highest among 65 major U.S. markets, after New York City, the firms said.

Strong Comeback

“This market has come back so strongly after the downturn,” Suzanne Mellen, a San Francisco-based senior managing director at hospitality-consulting firm HVS, said in a telephone interview. The firm conducted appraisals of the hotels for the Goldman Sachs financing.

That deal involved hotels owned by private-equity firm Cerberus Capital Management LP and known as the Kyo-ya portfolio in the commercial-mortgage backed security market. The loan backed by the properties was sent to special servicing in April 2011 after the hotels’ value dropped. Special servicers negotiate with landlords on behalf of bondholders and decide whether to modify a loan or foreclose.

Related stories:

  • Goldman Provides $1.85 Billion in Debt for Kyo-Ya Hotels
  • Cerberus Said to Seek $1.8 Billion Loan for Hawaii Resorts

Cash flow at the properties has almost doubled since 2009, Deutsche Bank AG (DB) analysts said in a May research note. That month, Cerberus sought to replace debt after a deal struck with New York-based Goldman Sachs in 2011 failed to close, three people familiar with the transaction said at the time.

CMBS Demand

The new financing will include a mortgage and mezzanine loans. A portion of the debt may be sold as bonds as investor demand for CMBS surges. Wall Street banks issued about $16 billion of securities tied to everything from mobile home parks to skyscrapers in the fourth quarter, a post-credit-crisis record, according to JPMorgan Chase & Co. Sales are on pace to reach $46 billion in 2012, almost 50 percent more than last year, the analysts said.

The extra yield investors demand to own top-ranked CMBS rather than Treasuries has dropped to 0.98 percentage point from 2.47 percentage points on Jan. 3, according to the Barclays CMBS Aaa Super Duper index. That’s the narrowest spread since at least January 2008.

“We’re going to let the financing speak for itself,” Michael DuVally, a Goldman Sachs spokesman, said in an e-mail. John Dillard, a spokesman for Cerberus with Weber Shandwick in New York, didn’t return a telephone call and e-mail seeking comment.

‘Completely Irreplaceable’

“These properties are completely irreplaceable because of the restrictive Waikiki zoning laws that make any new builds nearly impossible, and they are incredible cash cows,” Mellen said. “You can’t be better located than these hotels, sitting right on the beach in Hawaii.”

Many lodging investors are limited to redeveloping existing hotels, rather than constructing new ones, because of strict environmental and zoning laws meant to prevent overbuilding in Hawaii, especially near beaches, Mellen said.

“It is the highest barrier of entry market I can think of,” she said. “People say New York is a high-barrier market or San Francisco, but I think Hawaii is much worse.”

In August, Walt Disney (DIS) announced plans to expand its Aulani Resort on Oahu, just one year after its opening, for an undisclosed amount. The Burbank, California-based company plans to add a third swimming pool and a splash zone for kids, and has already added more lawn space for weddings. The new pool and splash zone are scheduled for completion in mid-2013.

Hawaii Flights

Starwood Hotels last month said it completed work at four properties: the $188 million redevelopment of the Sheraton Waikiki, the $6.5 million renovation of the Sheraton Maui Resort & Spa, the $16 million upgrade of the Sheraton Kauai Resort and the $20 million refurbishment of the Sheraton Kona Resort & Spa at Keauhou Bay.

The work is intended to help meet “the increased demand for high-quality accommodations as business and leisure travel to the Hawaiian islands continues to grow,” the Stamford, Connecticut-based company said in a statement.

This year through September, total seats on flights to Hawaii rose 7.3 percent, including a 47 percent increase in scheduled seats from Asian countries, according to data from the Hawaii Tourism Authority. Seats from the Oceania region, which includes Australia and New Zealand, climbed 30 percent, and from Japan they rose 13 percent. Scheduled seats from the U.S. West Coast rose 4.1 percent.

Any airline cutbacks or economic slumps in countries such as China or Japan may quickly upset Hawaii’s recovery, according to Stephen Hennis, a director at Boulder, Colorado-based STR Analytics.

Very Susceptible

“The fact that you can only get to Hawaii by plane or boat makes it more susceptible to cutbacks by airlines,” he said. “And its dependence on discretionary spending makes it very susceptible to economic changes in the regions it gets most of its visitors from.”

The state’s visitor arrivals this year through September climbed 9.6 percent to 5.97 million, according to a Hawaii Tourism Authority study. The biggest increases came from Japan, with a jump of about 16 percent, and the category that includes China and Korea, which had a 27 percent gain.

Hawaii’s gross domestic product is expected to rise 2.4 percent next year, compared with a projected 1.6 percent increase in 2012 and a decline of 0.2 percent in 2011, according to data from the state Department of Business, Economic Development and Tourism. GDP probably will climb 2.5 percent in both 2014 and 2015, according to the agency.

Ripple Effect

While Hawaii’s recovery is driven largely by tourism, real estate categories other than lodging also are improving.

“The ripple effect on other aspects of the Hawaiian economy is phenomenal,” said Mellen of HVS.

Building-permit volume in the state, including residential and industrial applications, climbed 33 percent to $1.2 billion worth of projects this year through September, according to data from Colliers International, a Seattle-based real estate services company. That’s the highest level since 2007, when permits for a record $1.35 billion worth of development were filed in each of the comparable periods.

In Honolulu, construction of a dozen condominium projects with a total of about 3,000 units is expected to begin in the next three years — about the same growth pace as in the peak years of 2006 and 2007, said Michael Hamasu, a Honolulu-based director of consulting and research at Colliers.

Residential Communities

On Maui, two residential communities — Kehalani and Maui Lani — are under construction, and on Oahu, a couple of large residential projects are being developed, including Ho’opili, a planned community by Fort Worth, Texas-based D.R. Horton Inc. (DHI)’s Schuler division, Hamasu said.

A joint venture of real estate investor Kennedy Wilson (KW) and Irvine, California-based IHP Capital Partners is spending about $300 million on Kohanaiki, a new golf-and-residential development on the Big Island of Hawaii’s Kona Coast, said William McMorrow, chairman and chief executive officer of Beverly Hills, California-based Kennedy Wilson. The companies expect the project to have a value of about $1 billion when it’s fully completed, in 10 to 15 years, he said.

“Everything in Hawaii is hitting on all cylinders,” McMorrow said in a telephone interview. “It’s an opportune time to deliver product to the Hawaiian market.”

Kohanaiki is the Big Island’s first new residential development in at least five years, said Saul Pinto, CEO of Kohanaiki Shores LLC, the property’s developer. The 500-unit, 500-acre (200-hectare) project received permits in 2004, then stalled during the slump, he said. Lots and units will be marketed at $1.7 million to $6 million “and up” toward the end of 2013’s first quarter, Pinto said.

California Buyers

“I would say 80 percent of buyers on the Big Island come from California, and to a lesser degree from Seattle and Portland,” Oregon, McMorrow said. “The majority of California buyers are from Northern California, and they have benefited from the success in the tech and venture-capitalist sectors. It’s a big driver.”

One of the biggest names in the technology industry, Oracle Corp. founder Larry Ellison, earlier this year bought 98 percent of the island of Lanai for an undisclosed price. The sale included two resort hotels, two championship golf courses and club houses, and more than 88,000 acres of land.

The sales volume for commercial-property transactions of at least $1 million is likely to reach about $2 billion this year in Hawaii, the highest level since 2007, when sales totaled $3.04 billion, according to Colliers. Real estate investments are likely to increase for the foreseeable future, said Toy of Hospitality Advisors.

“We see a lot of capital that is in search of acquisitions in Hawaii,” he said. “My phone rings a lot these days.”

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net

To contact the editors responsible for this story: Kara Wetzel at kwetzel@bloomberg.net; Rob Urban at robprag@bloomberg.net