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The Pālamanui Master Planned Development is a major project situated in North Kona on the Island of Hawaii. Covering approximately 725.2 acres, its strategic location is notable, positioned directly across from the Ellison Onizuka Kona International Airport at Keahole and adjacent to the to-be-developed University of Hawaii, Hawaii Community College Palamanui campus. The development is designed to offer a diverse mix of unit types, including single-family and multifamily residential options. Additionally, the master plan incorporates hotel, office spaces, retail venues, and industrial components, creating a comprehensive community hub. This ambitious project aims to enhance the local infrastructure and provide varied living, working, and leisure opportunities within a single expansive area. 

Kailua-Kona Town, situated about seven miles from North Kona’s primary center of commerce. This bustling town features an array of low-rise office buildings, shopping venues, dining establishments, and nightlife options. In addition to its commercial appeal, Kailua-Kona is world-renowned for hosting several significant events. These include the annual Ironman World Championship triathlon, the Hawaiian International Billfish Tournament, and the Kona Coffee Festival. Each of these events draws international attention, celebrating sports, local culture, and Kona’s famous coffee, further enhancing the town’s global reputation and attracting tourists and business opportunities alike.

The industrial and retail markets in West Hawaii demonstrate notable strengths despite certain challenges. In the industrial sector, West Hawaii continues to face a tight supply, with vacancy rates remaining below 1% for the second consecutive year. This persistent demand for industrial space, coupled with limited availability, highlights the strength of the market as developers struggle to meet the increasing demand due to a shortage of industrial-zoned land. The release of new industrial land offers a potential solution, although infrastructure development will be key to unlocking its potential.

West Hawaii's retail sector benefits from its role as a hub for tourism, with visitor expenditures surpassing $3.0 billion in 2023, supporting the continued demand for retail spaces. While the market is saturated in some areas, the resilience in consumer spending and the eventual recovery of vacancies are expected to stabilize the sector. Together, these indicators reflect the underlying strength and potential for future growth in both the industrial and retail markets in West Hawaii.

ADDRESS
Queen Kaahumanu Hwy, Kailua-Kona, HI 96740

LAND AREA
725.2 Acres

TMK NUMBER
(3) 7-2-5: 1 (To Be Subdivided)

ZONING
PD, Project Development

Alika W. Cosner (S), SIOR
Senior Vice President
+1 808 292 4599
Alika.Cosner@colliers.com

Andy Y. Kazama (S)
Vice President
+1 808 864 3385
Andy.Kazama@colliers.com

Nathan A. Fong (B)*
Executive Vice President
+1 808 295 2582
Nathan.Fong@colliers.com

*Nathan Fong Properties, LLC dba Institutional Properties Hawai'i, exclusively contracted to Colliers International HI, LLC. This document/email has been prepared by Colliers for advertising and general information only. Colliers makes no guarantees, representations, or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers and /or its licensor(s). © 2024. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement.

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