2113 KALAKAUA
Located in Waikiki directly opposite Chanel, Dior, and Bottega Veneta, 2113 Kalakaua was well-positioned on one of the world’s premier shopping streets, but home to a dated two-story car rental office.
HWP affiliate Pecos Ventures, in partnership with a local developer and a pension fund advisor, acquired the property in 2005. The partnership subsequently downsized and relocated the car rental office, with agreeable compensation, to the rear of the building. Removing the middle floor of the two- story building created multiple gallery-like single-story spaces for premium retail brands.
The repositioning activated the south side of Kalakaua, improving the pedestrian experience and expanding the merchant base for leisure travelers. The partnership sold the property in 2011.
