Posted on: Tuesday, October 9, 2001

A&B enters Big Island market

By Susan Hooper
Advertiser Staff Writer

Alexander & Baldwin's real estate subsidiary has entered into a joint venture with local developer U.J. "Rick" Rainalter Jr. to build a gated, planned community in Waimea, Hawai'i.

The project is A&B's first development on the Big Island.

The partnership between A&B Properties Inc. and Rainalter, which is known as Kamuela Associates, will develop HoloHolo Ku, a community of 44 fee-simple, single-family ranch homes on eight acres of former Parker Ranch land just southeast of Waimea Town, Alexander & Baldwin said in a statement yesterday.

The community will have 28 smaller "cottage" homes of from 1,361 square feet to 1,595 square feet and priced from $279,000 to $369,000, A&B said.

Another 16 "ranch" homes from 1,914 square feet to 2,348 square feet and priced from $419,000 to $469,000 will be part of the development, said Linda Howe, an A&B spokeswoman.

The development "is probably going to be attractive to people who want to live in that community and want the idea of a single-family home, but having a condominium association do the maintenance — and also be in a secured, or gated, community," Howe said.

More than 50 percent of the homes already have been sold, Alexander & Baldwin said in its statement. Construction is expected to begin next month, with the homes ready for occupancy in early 2002, the company said.

Metcalf Construction is the general contractor for the project; Francis Oda and Hitoshi Hida of Group 70 International are the project designers.