It looks like KSBE is trying to drive out current tenants at Keauhou Shopping Center by increasing the lease rent. The latest casualty is the Ace Hardware store, according to this WHT article. By my count, ten tenants have closed up shop at Keauhou over the past couple years.This despite the fact that West Hawaii has had a booming economy.
I really wonder what KSBE’s intentions are with the Keauhou Shopping Center. It seems to me that they want to drive all the tenants out. Which would result in the KSBE’s beneficiaries getting no return on their investment. I really believe the KSBE bean counters are using poor business sense overall. Yes property values have increased and yes the beneficiaries deserve a fair return on their investments. But KSBE needs to take a hard look at the impact of these lease increases on the tenants also. If they don’t they are looking at a lot of empty Kona coffee land and leasable space at Keauhou Shopping Center.
I really don’t understand TSA Corporation’s logic in expanding Kaloko Light Industrial Area now. Especially since we are entering a economic slowdown. In my view, TSA is basically wasting 43 million dollars.
Is Hawaii County out their mind in increasing the fuel tax ? According to this WHT article, there is some serious consideration being given to increasing this tax by the county council. There is a lot of roads that need to repaved on this island. But I think this is wrong time to be considering increasing the fuel tax. Especially taking into account how high gasoline is now.
Lastly, here is another rebuttal comment I made in regards to Hunter Bishop’s blog posting about WHT’s civil disobedience poll.
“I know building more roads is just a band-aid solution to our problems, KELIIPIO. But until more afforable housing is built by the job centers, we will always have traffic problems.
Like I said above, my brother just bought a new house up in HOVE because couldn’t afford buying a house up here in Kona. I envy the fact that he has house now. But I don’t envy thefact he has a horrific commute back and forth to his job up here in Kona.
So until more afforable housing is built up here in Kona, I’ll advocate building more roads here.”
The problems are the same here on Oahu. Developers build and sell cheaper properties out in the boonies and then the people complain about having to drive in heavy traffic to get to the job centers in the urban core. Then they ask for trains and then the government increases our taxes. These people knew what they were getting into when they bought and moved out into suburbia.
As for KSBE and the Keauhou Shopping Center. Seems like they want to piss tenants out of that place. Perhaps they have other plans in the future…. like maybe tearing it down and putting up a new big box in its place. Worry more if KTA goes away.
Here on Oahu we have General Growth Properties is constantly squeezing out the small businesses from their shopping center properties. They want to re-develop the Ward area by totally demolishing buildings and taking out longtime businesses in their effort to attract upscale (read expensive) tenants and businesses. Do we need more Nordstrom’s and Neiman Marcuses????