Jack Tyrrell specializes in Kakaako, Honolulu, Hawaii luxury condo projects.

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whole foods


Neighborhood News: New Whole Foods store to open in Kakaako by June

Whole Foods as of February 13, 2018. Photo: Jack Tyrrell & Company, Inc.

Photo: Jack Tyrrell & Company, Inc.

The Honolulu Star-Advertiser reports on the highly anticipated Whole Foods Market in Kakaako below:

Whole Foods Market will open its largest Hawaii store by early summer in Kakaako after a dozen years of planning and setbacks.

Photo: Jack Tyrrell & Company, Inc.

The health food giant that specializes in organic and natural products will begin operations at its fourth Hawaii location by June, the company said Monday.

The latest Whole Foods will occupy the first two floors at the $429 million Ae‘o condominium at 1001 Queen St., part of the master-planned community of Ward Village.

The 72,000-square-foot, two-story store will be more than twice the size of its second-largest Hawaii store in Kailua. The new store will sell locally grown products — including produce, seafood and meats — as well as its popular natural body items, and will offer indoor and outdoor seating.

“We are thrilled to be opening our third store on Oahu and to serve as a new gathering place for the local community,” said Marci Frumkin, a company spokeswoman, in an emailed statement.

The company would not say how many employees it will be hiring or give an exact opening date. It also didn’t disclose future expansion plans for the islands.

Whole Foods first announced its plans to open a Kakaako flagship store in 2006, as the anchor tenant at the site now occupied by TJ Maxx. The Austin, Texas-based retailer planned to open the store in early 2008, but walked away from the project after delays caused by the discovery of iwi, or Native Hawaiian remains, followed by the recession and later the bankruptcy of former developer General Growth Properties.

The new location, on the site of the former Office Depot and Nordstrom Rack, will be blocks away from local natural foods retailer Down to Earth, which is scheduled to open a 13,000-square-foot store in early April on the ground floor of Keauhou Lane, a new mid-rise apartment building at the corner of Keawe and Pohukaina streets.

Whole Foods first entered Hawaii in 2008 with its Kahala Mall store, which is just over 28,000 square feet. That was followed in 2010 by a 27,000-square-foot store in Kahului and a 32,000-square-foot Kailua outlet, which opened in 2012.

The store is part of Dallas-based Howard Hughes’ $7.5 billion master plan calling for 16 towers with as many as 4,300 residential units and 1 million square feet of retail space at the 60-acre Ward Village.



Business News: Prices at Whole Foods drop under Amazon

Rendering of Aeo Whole Foods in Ward Village, which will be Hawaii's flagship Whole Foods location.

Rendering of Aeo Whole Foods in Ward Village, which will be Hawaii's flagship Whole Foods location.

The sale of organic grocer Whole Foods Market to Amazon has already brought down prices at local Hawaii Whole Foods locations.  This is an exciting development, as Ward Village in Kakaako prepares for the Whole Foods flagship store to come to the neighborhood.  The future Whole Foods Market will be the state's biggest, and will be located on the ground level of Aeo, which is scheduled to be complete next year.  The tower will feature a special elevator just for residents into the market, making your everyday shopping more convenient than ever.  

Read more from the Honolulu Star-Advertiser, below.

Ala Moana resident Aki Rey was shocked to find that the price of her favorite organic bananas at Whole Foods Market in Kahala dropped by a $1 to 69 cents a pound Monday, the first day that Amazon took over ownership of the national health food store.

“I’m still shocked about the price, especially bananas,” said Rey, 37. “I’m a big fan of Amazon. I shop at Amazon a lot. I think that’s great for customers. Everybody likes lower prices.”

Amazon.com Inc. acquired Whole Foods Market Inc. on Monday in a $13.7 billion deal and promptly cut prices by up to 43 percent for some products in a strategy to move away from the perception that the upscale grocery store — often dubbed “Whole Paycheck” — is for the rich and unaffordable for shoppers on a budget.

“It’s always been this ‘Whole Paycheck’ thing. I still think you’re gonna have people whose mindset is, ‘Oh this place is for the rich,’ and they’d rather go to their Times or Foodland (where) they feel more comfortable,” said Kaira Resch, 48, of Wilhelmina Rise, who was shopping Monday at the Kahala store. “Now that Amazon’s taken over, those are incredible prices.”

The price of regular bananas dropped to 49 cents compared with $1.19 a pound before the ownership change. Organic Fuji apples fell to $1.99 from $3.99 per pound. Organic avocados dropped to $1.99 from $3.49 each. A box of organic lettuce was reduced to $3.49 from $5.99.

Honolulu yoga instructor Jenia Kiseleva, 36, who shops at Whole Foods at least once a week, said the price changes are welcome, especially as a way to get more people eating better.

“It will be great for people. We need to bring more people to organic food … to raise more awareness,” she said. “It’s going to be easier for people to believe that it’s OK, it’s possible, it’s not that big of a deal to eat organic.”

Aggressive pricing is a hallmark of Amazon. Rival supermarket chains, which already operate with thin profit margins, are expected to face additional pressure to keep prices down and strengthen their loyalty programs or risk losing shoppers to Whole Foods.

Local health foods store Down to Earth, which is expanding in Kakaako, Pearlridge and Kailua, said Whole Foods’ price reductions are “greatly overstated” and that costs have been cut for only a “handful of products.”

“Many of the price drops are not very significant, less than 13 percent. The price reductions appear to be more about marketing and trying to change their ‘Whole Paycheck’ price image, rather than a significant change in pricing,” said Mark Fergusson, chief executive of Down to Earth. “Down to Earth regularly reduces prices, by much more than Whole Foods has done, on hundreds of items every month as part of our ongoing promotional programs. As more people become aware of the benefits of organic and natural foods, we expect that our business will continue to grow and thrive.”

Fergusson added that Whole Foods’ overall impact on the market hasn’t been significant and that the reality is the chain is only a small player in the national grocery industry — 2 or 3 percent of the total market. However, share prices of grocery chain competitors continued to fall Monday, while Amazon’s prices inched up 0.1 percent to $946.02 per share.

“It’s definitely had a very negative impact on share prices. Definitely, the stock market is anticipating some sort of major impact,” Fergusson said. “But the story’s not over yet. We’re not sure what they’re going to do. For Down to Earth, of course, there’s some uncertainty, but I don’t see a sort of game changer happening.”

Besides lowering prices, Amazon said it will give special savings and in-store benefits to Amazon Prime members, a program that costs $99 a year and also includes free shipping of Amazon products as well as video streaming.

Amazon also plans to add Amazon Lockers at select Whole Foods locations, enabling customers to pick up or send back returns of Amazon.com products at their nearby grocery store.



Construction set to start on Howard Hughes' Aeo Tower

Howard Hughes is set to break ground on Aeo Tower this Thursday, February 11, 2016!  We have been closely tracking to progress on the tower, from the beginning of its plans to the launch of the sales lottery, so we are excited to see the project coming to life! 

Read more in the article from Pacific Business News, below:

The Howard Hughes Corp. plans to start construction on its mixed-use condominium that will include Whole Foods Market’s flagship Hawaii location in the Honolulu neighborhood of Kakaako on Thursday, the Texas-based developer said.

Located at 1001 Queen St., at the corner of Queen and Kamakee streets behind the Ward Entertainment Center, Aeo will include 466 units and a 54,000-square-foot Whole Foods Market store on the ground floor.

A rendering of the Whole Foods condo project in Honolulu. The Howard Hughes Corp. says construction on the Kakaako project in Ward Village is set to start this week.
The tower and organic supermarket chain will replace Office Depot on the block that used to also house a Nordstrom Rack, which has relocated within Ward Village.

During Halloween, a retailer selling costumes and other items for the late October holiday took the former Nordstrom Rack space, but has since closed.

The Howard Hughes Corp.'s (NYSE: HHC) 60-acre Ward Village includes two mixed-use luxury residential towers — Waiea and Anaha — that are now under construction, as well as Aeo, Gateway Towers and Ke Kilohana at 988 Halekauwila St, which will include a Longs Drugs store.



Ward's Office Depot to close in January 2016 to make way for Aeo

Photo courtesy of Pacific Business News.

One of 2015's highlights was the sales launch for Aeo at Ward Village this past summer, which will also feature Hawaii's Whole Foods flagship store on the ground floor. To make way for the groundbreaking in March 2016, Office Depot will close its Ward Village location in January 2016, Pacific Business News announced today:

“We are planning to break ground on our Aeo and Whole Foods Market project in March,” Todd Apo, vice president of community development for The Howard Hughes Corp., told PBN in an email Thursday. “We understand that based upon these future developments, Office Depot recently decided to close its Ward Village location in Jan. 2016.”



Ward Village sales update: Aeo, Waiea, and Anaha

Today's Pacific Business News reports that 35.8% of The Howard Hughes Corporation's Aeo project is now contracted for sale. Construction on the project, which will be atop Oahu's future flagship Whole Foods Market store, is set to begin in March 2016.

Meanwhile, as of October 20, 2015, 89.1% of the 174 units in Waiea and 85.2% of the 317 units in Anaha were contracted for sale, respectively. Read more updates in the article by Darin Moriki below:

As construction continues on The Howard Hughes Corp.'s Waiea and Anaha residential towers in Ward Village, close to 35 percent of all units in the Texas-based developer's nearby Aeo mixed-use high rise are under contract for sale ahead of its projected March 2016 construction date, according to third quarter financial reports released to investors on Monday.
Of the estimated 466 units in Ward Village's Aeo condominium tower, approximately 35.8 percent of those units, or 167 individual units representing just over one-fourth of the total residential space available, were contracted for sale as of Oct. 20. Initial sales for the units in Aeo, which will include a 54,000-square-foot Whole Foods Market flagship store, began in July, when more than 110 owner-occupant units were sold over four days to buyers with local addresses as a part of a public lottery system.
The Howard Hughes Corp. reported on Monday that close to 35.8 percent of the residential units in Ward Village's Aeo mixed-use tower were under contract for sale, as its anticipated March 2016 construction date nears.

Last month, The Howard Hughes Corp. (NYSE: HHC) said that it would start construction on 389,000-square-foot residential tower in March and complete the project in two years.

"This tower was designed with unit sizes averaging approximately 836 square feet — smaller than the average 1,687-square-foot unit size for Waiea and Anaha," The Howard Hughes Corp. explained in their quarterly report. "We believe there is strong demand for smaller unit sizes having a quality similar to our other offerings, resulting in an overall purchase price that is more affordable to a larger segment of the market."
Although the project budget for Aeo is still being finalized, The Howard Hughes Corp. estimates that it has incurred $14.4 million in pre-development costs as of the end of September.

Meanwhile, The Howard Hughes Corp. entered into 12 sales contracts between July and October for condominium units in Anaha and Waiea, which are now being constructed and slated to be complete in mid-2017 and the end of 2016, respectively.

As of Oct. 20, approximately 89.1 percent of the 174 units in Ward Village's Waiea luxury condominium tower were contracted for sale, representing 83.7 percent of all the residential space available for sale. Of the estimated $403 million needed to construct it, The Howard Hughes Corp. estimates that it has accrued about $152.4 million of those development costs, as of Sept. 30.
In the nearby Anaha luxury condominium tower, 85.2 percent of the 317 units were contracted for sale, as of Oct. 20, representing 76.9 percent of all the residential space available for sale. The Texas-based developer has also spent about 20.2 percent, or $81.4 million, of the estimated $401 million needed to construct it, as of Sept. 30.

The Howard Hughes Corp. has also incurred about $13.2 million in pre-development costs for Ward Village's Gateway Tower luxury condominium complexes, which are being designed by the New York City-based Richard Meier & Partners Architects LLP firm.

"These towers will frame the main entrance of the community and planned village green and are an important element in communicating to the market our vision for a fully-developed Ward Village," The Howard Hughes Corp. executives said in their quarterly report. "With this product, we are bringing a level of product quality and overall experience never before seen in the market and pricing that sets a new peak for Ward Village. As a result, we are expecting a more measured and longer time period for absorption than at our other Ward Village developments."
Although a project budget is still being finalized, pre-sales on one of the two towers began in July. The Howard Hughes Corp. said construction of the towers will begin once the development group reaches "an acceptable level of pre-sales and financing."



Neighborhood News: Howard Hughes says more than 80% of units sold in Anaha and Waiea Luxury condos

Photo courtesy of The Howard Hughes Corporation

Earlier this week, Pacific Business News' Darin Moriki reported that 80% of Howard Hughes' luxury condo projects Anaha and Waiea had been sold. Here at JTC, we are very excited for these two projects, and to have contributed in these sales! Please contact me if you are interested in learning more.

Find the article below:

More than 80 percent of the units in The Howard Hughes Corp.'s two luxury condominium towers under construction in Honolulu, the 174-unit Waiea tower and the 317-unit Anaha tower, were under sales contracts as of the end of last month, according to the Texas-based developer's second quarter earnings report.

At the Waiea project, 88.5 percent of the units were under sales contracts as of July 24 — an increase from the 86.5 percent disclosed in The Howard Hughes Corp.'s (NYSE: HHC) first quarter report in May. Meanwhile, about 81.7 percent of the units in the Anaha project, were under contract, an increase from 77.5 percent in May.

From April 30, the last reported sales date, through July 24, The Howard Hughes Corp. entered into 15 sales contracts for Anaha and Waiea, combined, representing 17.9 percent of the available units for sale at that time, the company said.

Last month, Howard Hughes also opened pre-sales for two more projects in Kakaako — the first of two Gateway Towers, which will be built on part of what is currently Ward Warehouse and will have 125 luxury units, and Aeo, a 466-unit tower that will have Hawaii's flagship Whole Food Market store.

"The launch of pre-sales in July of two new condominium towers totaling 591 units, and the 413 units under contract at the Anaha and Waiea towers under construction at Ward Village are indicative of the strong demand we are seeing for high quality residential housing in our thoughtfully designed urban master planned community in Hawaii," David Weinreb, CEO of The Howard Hughes Corp., said in a statement.

In all, The Howard Hughes Corp. says it has spent $116.5 million of the estimated $403 million that it will likely take to construct Waiea, which is slated to be complete by the end of 2016. The company has also spent about $57.7 million of the estimated $401 million in development costs needed to construct Anaha, which is slated to be complete by mid-2017.



AEʻO at Ward Village: Owner Occupant Unit Selection Guidelines

The owner-occupant release of one of the most exciting projects to come to Ward Village, Aeo , is here! The lottery will take place this Saturday, July 18th, at 9 a.m. Lottery winners will select their unit that same day, starting at 1:00 p.m.

The tower will have a total of 466 units. You will be able to walk from the Aeʻo Tower directly into the Whole Foods Market via the second floor. You can do your shopping at Whole Foods, and take the elevator with your shopping cart right to your unit! Shopping at Whole foods could never be easier or more convenient!

State law requires that 50% of the units in Kakaʻako developments be made available for a 30-day period to "owner-occupants." This requires the prospective buyer to complete an owner-occupant affidavit, and have it notarized prior to the end of the lottery submission time period, which will expire on Friday, July 17th.  Prospective purchasers must hand-deliver their notarized affidavits to the Ward Village Sales Gallery by midnight on July 17th. The public lottery will then be held on July 19th, at 9 a.m. to determine the order in which the prospective owner-occupant purchasers may select an owner-occupant designated unit, and execute a purchase agreement later that same day. 

General information on the Aʻeo/Ward Village/Whole Foods project is as follows:

  • Address: 1001 Queen Street
  • The project will consist of 47 studio residence, 182 one-bedroom, 177 two-bedroom, and 63 three-bedroom residences which will be located on the Makai/ocean, Ewa, and Diamond Head corners of the building.
  • Price range of the buildings:
    • Studio: $406,000 - $562,000
    • One-bedroom: $573,000 - $959,000 
    • Two-bedroom: $860,000 - $1,631,000
    • Three-bedroom: $1,390,000 - $1,993,000 
  • Total cash deposits required for purchase is 20%.
  • Timing of deposit requirements. 5% initial deposit, payable at time of signing purchase contract if you are a lucky lottery winner.
  • According to state law, as well as the purchase contract, you will be given a 30-day time period for review of all condominium documents, and for you to feel comfortable with your purchase. If for any reason at all you decide to cancel, you may cancel your purchase contract during this 30-day time period, and receive a full refund of your deposit. After the 30 days, you will be asked to make a second deposit.

This truly is one of the most exciting opportunities to make your home in one of our island's most dynamic communities. Please contact me today to talk more about it! 

Email: jack.tyrrell@jtchawaii.com

Phone: O: 808.532.3330 .  C: 808-306-6933