Can Honolulu’s Newest Safeway Change a Neighborhood?
May 13th, 2008 categories: Buying Honolulu Real Estate, Rants & Riffs
This past Mothers Day I had the chance to shop at the new Safeway on Kapahulu. As I drove to the convenient rooftop parking, I considered that this store is going to positively change the face of this desirable Honolulu neighborhood. Not only is this one of the nicest super markets I have seen anywhere, but it shows that Honolulu will patronize really high quality retailers. Every part of the store exudes excellence!
The deli is delightful. A bakery that will make your mouth water! How about a meat department that has everything you need. The produce department reminds me of Gelsons Super Market in California. Every fruit and vegetable looks like it is of the highest quality. Need sushi? Go to the sushi bar. How about a latte? Stop by the coffee bar. It is a good thing that there is an area to sit down and relax, because the store is so big that going up and down each aisle could be a work out for some. It is worth going to on a Friday evening to check it out and have dinner. Safeway is not the only tenant at this center.
Once it is completely full this mall will have many of the things that residents in this area had to go to other areas to find. Given the quality of this project, immediately and over time, it is adding something to the community that has been lacking up until now. I will go out on a limb and predict that it will add value to the real estate in the Kapahulu area.
There is an old saying that “a rising tide lifts all boats”. This is a shift in the tide. I expect to see the commercial real estate in the immediate area to improve and, overtime, this center will be like a pebble thrown on to a pond. Its concentric ripples will change the overall Kapahulu “pond” in a very positive manner. This may be a ground floor opportunity to buy in a market that has a slight edge to buyers. This Safeway is a significant reason for the area to improve in the short and long term.
What can you buy in the Kapahulu area? Well there are currently three condominiums for sale that range in price from $179,000 and $299,000. Interesting to note, there are a total of 8 condominium projects in the area of Kapahulu. As for houses, there are 5 houses currently available for sale and they range from $565,000 to $935,000.
