BRUCE ASATO / 2016
The Waiea Tower, at right, on the corner of Ala Moana Blvd and Kamakee Street. It’s one of Howard Hughes’ luxury condo towers that have helped profits soar for the company.
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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.