September 2008

A slight update to the previous International Market Place blog.

The Queen Emma Land Co. is moving forward with plans to redevelop some of its land in Waikiki, including the 50-year-old International Market Place.

But, unlike earlier plans, this time it is seeking an outside developer to plan, finance and complete the project.

“I think there were several reasons,” said Les Goya, vice president of the Queen Emma Land Co. “I think as the project developed there were concerns by the organization that perhaps we needed to take a look at whether we wanted to be a developer, whether we wanted to sink that much capital into the project and whether we wanted to take on debt.”

http://pacific.bizjournals.com/pacific/stories/2008/09/29/story5.html

So they are looking for outside guys to do everything. Is this really a wise decision?

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I guess this summarizes all the economic happenings this week in the United States. It’s not funny at all. BTW – nice photo Sam!

http://wvs.topleftpixel.com/08/09/26/

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Once again the International Market Place in Waikiki is seeking bids from developers to redevelop this nifty outdoor kiosk business.

The nonprofit, income-producing affiliate of Queen’s Health Systems said it will seek bids from developers to lease and redevelop about seven acres, including the marketplace, the Waikiki Town Center, Perry’s Smorgy restaurant, the Food Pantry and also possibly the Miramar Hotel.

http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20080924/BUSINESS/809240371&template=printart

International Market Place has been in business for years with their special outdoor kiosk stands. Many friends of mine enjoyed shopping here to buy Hawaiian themed gifts, shark tooth necklaces, and Hawaiian jewelries. Tourist came here to shop for any Hawaiian goods and a great landmark for anyone to notice it. However, things have changed a lot since the years and a lot of renovations/revitalizations in Waikiki like the Royal Hawaiian Center and the Waikiki Beachwalk happening. It sort of touches you to see it changing but what can you do in times like this? Couple years ago, there was an incident when the kiosk tenants got together and ready to slash their throats (pardon the words) if they had to move out or close their business. This was a big news and hopefully it won’t repeat. The article link above has a nice history about this location.

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Sadly, Steve’s favorite Mexican restaurant at the Ward Centre is closing.

“We just didn’t have enough customers to compete with the tremendous costs we don’t control,” Enos said. “Diners don’t see the electric bill or the freight on avocados when they order their enchiladas. They only see the plate–and we could only charge so much.”

http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20080924/BREAKING03/80924068

This makes exact sense. Big eateries are going to have tougher time dealing with the cost of rent and expenses. Plus, the stagnant economy is not allowing for big crowds to gather for some good Mexican food and tequilas. Only those small and few parking establishments will be able to squeeze the last lime.

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Celebrating Emiko’s birthday @ the Hula Grill in Waikiki.

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Not surprising at all…

For a third straight year, rental housing costs were higher in Hawai’i than in any other state last year, according to a new census survey that also showed the cost of owning a home in Hawai’i was among the highest in the nation.

Median monthly rent was $1,194 in Hawai’i last year, meaning half of all renters paid more and half paid less, according to the census estimate.

Only three other states had four-figure median rental rates — California at $1,078, New Jersey at $1,026 and Maryland at $1,000. Nevada ranked fifth at $980.

http://www.honoluluadvertiser.com/apps/pbcs.dll/article?AID=/20080923/NEWS01/809230358/1001

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Yesterday afternoon, we tried the lunch special at Yakiniku Koryowon Restaurant in Kapiolani. We had been here months ago but didn’t really think it was all great until we tried their cold noodle and kalbi combo.

All this for $10.95. That was a deal! The cold noodle portion was generous and came with 2 slices of kalbi and the 6 side dishes. It was more than enough I think. There is also another place in Keeaumoku which serves cold black noodles but if you are looking for local portion, you can’t beat this place.

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My 3rd try of banana bread.

I think I found the right recipe.

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