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November 16 - Opening Day!

After years of anticipation, Trump International Hotel(tm) Waikiki Beach Walk(r) welcomed its first hotel guests this morning.  Following a traditional Hawaiian blessing in the 6th floor Lobby, the first guests were welcomed by the Trump Hotel Collection management team and representatives of Irongate AZREP BW LLC with the warm aloha spirit. 

This morning’s soft opening will be followed in the New Year with a Grand Opening celebration.

Click to see a slideshow of this morning’s blessing.

 

September Building Photos

Click the photo to start the slideshow.

OVER 300 ATTEND EVENT WITH DONALD TRUMP JR.

Irongate AZREP BW LLC hosted an event with Donald Trump Jr. on August 11, 2009.  Over 300 people attended the evening to celebrate the approaching opening of Trump International Hotel & Tower(r) Waikiki Beach Walk(r).   

CLICK IMAGE BELOW TO VIEW SLIDESHOW OF PHOTOS.

TRUMP INTERNATIONAL TOWER; 90 DAYS TO GRAND OPENING

Written by KBGM News - news@kbmg9.com
August 11, 2009

Donald Trump Jr. flew into town from New York Tuesday to check on the new Trump International Tower that’s going up in Waikiki. He confirmed the project is on track for a grand opening on November 16; about 90 days from now. The 38-story luxury hotel and condominium is located at the corner of Saratoga and Kalia roads. Workers have just put up the port cochere and landscaping and are now working on the interiors. Trump Jr. says he’s not worried about Hawaii’s economic slump.

“I think Hawaii as a business climate it’s great. Especially Waikiki; it’s one of these areas, I love as a business guy,” Trump Jr. said. “Got great climate, maybe not for a guy wearing a suit, but it’s just a great place.”

All 462 units of the tower were sold in one day, totaling $700 million. Although a few buyers have since sued the developer for alleged misrepresentation. Trump Jr. will be the guest of honor at a fancy party with local dignitaries Tuesday night. He’ll also be a guest on Sunrise Wednesday morning.

CLICK HERE TO VIEW TV SPOTLIGHT.

DONALD TRUMP JR. TOURS NEW HOTEL, TOWER

Son of Real Estate Mogul Says Units Should Retain Value

MSNBC.com
August 12, 2009

CLICK HERE TO READ ARTICLE.

CLICK HERE TO VIEW KITV TV SPOTLIGHT. 

TRUMP JR. TALKS ABOUT NEW TOWER IN HAWAII

Written by Sunrise on KGMB9 - sunrise@kgmb9.com
August 12, 2009

Hundreds of people, who bought units in the new Trump Tower in Waikiki, were thrown a party Tuesday night by the developer, and Donald Trump Junior himself flew in for it. 

KGMB9’s Howard Dicus talked to Donald Trump Junior Wednesday morning. 

CLICK HERE TO VIEW THE TV INTERVIEW.

Hawaii Home Sales Among Best in Nation, Trade Group Report Says

Honolulu Advertiser
Wednesday, August 12, 2009

The National Association of Realtors said today Hawaii was one of five states posting quarterly gains of 20 percent or more in home sales.

 

The trade group said U.S. home sales grew in the second quarter in 39 states, another sign that the ailing housing market is finally coming to life.

 

Total quarterly sales rose 3.8 percent to a seasonally adjusted annual rate of 4.76 million, from 4.58 million in the first quarter, but were still about 3 percent below a year ago, the group said.

 

Sales posted quarterly gains of 20 percent or more in Hawaii, Idaho, New York, Wisconsin and Nebraska, according to the NAR. But Alaska, Wyoming, California, Colorado and Michigan dropped by at least 6 percent.

 

Prices, however, were still down from a year ago in 129 out of 155 metropolitan areas the group tracks. The median sales price in the quarter was $174,100, almost 16 percent below a year ago.

 

The biggest drop, of nearly 53 percent, was in Fort Myers, Fla. Prices also fell 35 percent or more in Phoenix, Riverside, Calif. and Las Vegas. The biggest price gain, of nearly 31 percent, was in Davenport, Iowa, followed by Cumberland,

Md., at nearly 22 percent.

 

Nationwide, foreclosures and distressed sales made up more than a third of all sales in the second quarter.

 

Many economists now say that the worst of the housing recession is over, though foreclosures are expected to rise over the next year.

 

Lawrence Yun, the trade group’s chief economist, called the sales increase “a hopeful sign for the economy.”

 

Trump’s son says name to stay on Waikiki tower

Star Bulletin: August 11, 2009
By Nina Wu

Donald J. Trump Jr. affirms that the family’s brand name will remain on the Trump International Hotel and Tower Waikiki Beach Walk.

 

“We are very excited about the building,” said Trump Jr., 31, an executive vice president who oversees the Trump Organization’s property portfolio, along with siblings Ivanka and Eric Trump. “The name will stay in place as long as the license is in place, which we hope will be a long time, if not forever.”

 

Trump is scheduled to give a media briefing in Waikiki this afternoon as well as to meet with buyers.

 

The 38-story tower — marketed as an “ultra-luxury hotel condominium” — offers 462 units and is available for room reservations starting Nov. 16.

 

Los Angeles developer Irongate is building the project, and sold out all the units for more than $700 million in a single day in 2006.

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Oahu housing performs long term

Buy and hold mindset pays off down the road

 

Honolulu Advertiser

By Lisa Scontras

 

Good economy or bad, there is never a shortage of information about common real estate investment mistakes and how to avoid them. One blunder that consistently tops the list is short-term thinking. Real estate is historically a slow, steady and conservative performer that increases in value over time, according to successful, longtime investors.

 

Contrary to the quick money, flip-it mentality, which is based purely on speculation, buying an investment property with a long-term mindset can be a great source of income down the road — even helping to supplement a derailed retirement plan.

 

With one American turning 50 every seven seconds, saving enough for those golden years is a real concern for the millions of families who have seen traditional pension plans and retirement accounts evaporate.

 

John Hayama, Realtor and partner at Prudential Locations LLC, says people of

all ages are considering real estate as a way to eventually boost their retirement income.

 

CLICK HERE TO READ MORE

Economy Looking Up

Honolulu Advertiser
By Greg Wiles

It could be a glimmer, or maybe just wishful thinking. But there are some signs that Hawai’i’s economy may be reaching the bottom of a pernicious downturn that’s ravaged employment rolls and uprooted some companies.  No one is saying the economy has reached a recovery. But they note the steady worsening of the state’s economy may be ending, perhaps paving the way for a return to growth next year.

 

At Olsten Staffing Services in Honolulu, the phone is starting to ring a bit more often. Olsten and other temporary help firms had seen business decline over the past year as firms cut back on hiring and laid off people.  But lately there’s been word that companies aren’t laying off as many people and in some instances are hiring.

 

“There’s a few more orders coming in for people,” said Olsten President Signe Godfrey.

“I’m not going to say it’s great, but we’re starting to see a little more uptick, which we haven’t seen in a long time.”

 

There are other signs the long economic winter is beginning to thaw with automobile dealers reporting a rise in buyer traffic generated by the “cash for clunkers” program.

 

This, after a precipitous decline in sales over the past two years.

 

The number of airline seats on scheduled flights to Hawai’i on a rolling three-month basis has increased in the past two monthly reports from the Department of Business, Economic Development and Tourism. There had been 14 months of consecutive declines in the report.

 

HOPEFUL SIGNS

 

Domestic visitor arrivals have stabilized in recent months on a seasonally adjusted basis, and O’ahu home and condominium sales are rising, said Paul Brewbaker of TZ Economics.  At the same time, the number of jobs being lost in the downturn has been shrinking this year, he said. In December the state’s economy lost 6,400 jobs. By June that had shrunk to a loss of 2,550.

 

Brewbaker said his seasonally adjusted sales volume number for residential real estate shows the bottom may have been reached around the beginning of the year, as the data shows increases every month since then.

 

“There’s an increasingly broad pattern of stabilization,” Brewbaker said.  Where Hawai’i is positioned in the economic cycle may be best illustrated through the alphabet.

 

Brewbaker said a decline and sharp rebound would have a V-shape, while an L-shaped curve would denote a economy that’s declined and has been stuck at a low level of activity.

 

His view is the Hawai’i economy is now along the bottom of a U-shaped economic cycle where there is a decline, a period of stabilization and then renewed growth.  “If it’s U-shaped, then we’re going from one arm to another,” Brewbaker said. “It’s certainly not V-shaped.  “No one is saying it’s L-shaped. That’s what everyone was saying six months ago.”

 

Alphabet soup aside, there are other factors pointing to the downturn hitting bottom. Brewbaker said Hawai’i’s economic cycle has increasingly been synchronized with the overall U.S. economy after previously being thought to lag the Mainland.

 

On Friday the U.S. Labor Department issued a report that many people took as further proof that the recession is ending. It reported the fewest number of jobs were lost in a year’s time and that worker hours and pay had edged upward last month.

 

That led President Obama to pronounce the worst of the economy may be behind the country. The Standard & Poor’s 500 Index has risen 11.9 percent since the beginning of the year.

“I think there’s more positive news than we had been seeing in the last year,” said Pearl Imada Iboshi, state government’s chief economist.

 

“If you go to Waikiki, it seems really crowded, at least this month. Definitely flights have been really full coming in and out of Hawai’i.”

 

Iboshi, who heads the economic team at the state Department of Business, Economic Development and Tourism, forecast in May that Hawai’i’s gross domestic product will decline this year, but will grow next year. It has similar projections for upturns next year in visitor expenditures and personal income.

 

The state will issue an updated forecast later this month, though Iboshi said she does not know at this time if any of the estimates will be revised upward.

 

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