Or How to make 700 million dollars in 8 hours?
Well, enough of the Humpback whales in Hawaii for now. There is so much talk about the Hawaii housing bubble and that it’s time now to look for a home to buy in Hawaii… lowest prices within the last three years and more of those incentives to lure you into buying a house or condo in Hawaii and invest your money in Hawaii property.
I guess when you are Donald Trump, there is no such a thing like a wrong investment, despite of Rosie O’Donnell saying that he is bankrupt. As our slogan for this blog is ‘Vacation in Hawaii like Donald Trump - but cheap’, let’s see what the Donald is doing. Keep reading, as this is really getting interesting.
The much-watched Trump project broke ground in Waikiki on January 12, 2007.The Waikiki Beach Walk project is to be completed in 2009. Neither the Donald nor his all-star daughter Ivanka, who bought a unit in the tower during the record sell-out sale in November, attended the Waikiki groundbreaking festivities.
Trump announced last year his entrée into Hawaii's real estate market with building a Trump tower on Waikiki Beach, he created a buzz around the globe. He has put up similar towers in Las Vegas, Chicago, Miami Beach, Los Angeles and the Caribbean.
The project already has met with unprecedented demand. Units sold out for a total topping $700 million in just eight hours, setting world records for the total dollars and number of units changing hands at a residential development on a single day.
Buyers from Japan, China, Korea, Australia, Europe, Canada, Mexico, Hawaii and the mainland paid an average of $1.5 million for units. Prices at the Waikiki Trump Tower ranged from the mid-$400,000s for studios to more than $9 million for three-bedroom penthouses.
By the way, Honolulu Mayor Mufi Hannemann thinks that investment will be beneficial to Hawaii and its people but he also told Trump to “treat my people properly and utilize the aloha spirit in everything that you do." Trump answered: "No problem, I've done this all over the world."
Read the entire story by Honolulu Starbulletin on Trump Project on Waikiki Beach. Thinking about owning a home in Hawaii, see our Hawaii Real Estate market links or this Kohala Coast Home for Sale. This is a start. Not everybody can build a Tower on Waikiki Beach and make 700 million in 8 hours!!!
As usual, please, be invited to leave your comment. What do you think about the Hawaii Real Estate market? Is it time to invest in Hawaii properties or rather wait till prices go more down (if so)? Aloha, Pua Vacation in Hawaii Like Donald Trump - but cheap!