Japanese Investors Buy Hawaiʻi Real Estate

Several Japanese buyers have made high-value purchases of Hawaiʻi properties, including Waikīkī land and buildings.

Updated on Nov. 6, 2026 in Commercial

Isometric editorial illustration of a flat island-coast land parcel with low-rise blocks and a palm tree above a turquoise shoreline, evoking commercial property investment. — Japanese investors including Daisho Company are buying Hawaiʻi commercial property, paying $510 million for 10 acres under The Royal Hawaiian in Waikīkī. AI Illustration. Upload story photo >

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Japanese investors are making several real estate purchases in Hawaiʻi, including a fourth Waikīkī parcel bought for more than $10 million. Daisho Company paid $510 million for the 10 acres under The Royal Hawaiian, which is owned by Kyo-ya Hotels and Resorts, a Japanese company.

Why it matters

A weak yen has kept many Japanese travelers away from Hawaiʻi in recent years, but some investors are returning to the state in a limited way. Their purchases signal continued interest in Hawaiʻi's commercial property market.

Purchase prices reported include $510 million for the 10 acres under The Royal Hawaiian and $67 million for land under the Bank of Hawaii Waikīkī Center. Smaller deals include a $9 million Makiki apartment building and a Podmore building in downtown Honolulu bought for just under $3 million.

The players

Daisho Company

A Japanese company that paid $510 million for the 10 acres under The Royal Hawaiian in Waikīkī.

Kyo-ya Hotels and Resorts

A Japanese hospitality company that owns The Royal Hawaiian hotel in Waikīkī.

Shoei Global

A Japanese investor that bought the building and then the land under the Bank of Hawaii Waikīkī Center.

Sal Miwa

President of business brokerage Miwa and Associates, who commented on Japanese investment in Hawaiʻi.

The details

Shoei Global bought the building at the Bank of Hawaii Waikīkī Center in 2013 and now owns the whole property in fee simple. Japanese engineering company ESC Pacific and Japanese firm Biosystem Co. also bought Honolulu-area properties, while Sal Miwa, president of business brokerage Miwa and Associates, commented on the trend.

2013: Shoei Global bought the Bank of Hawaii Waikīkī Center building.
Last year: Daisho Company paid $510 million for the Royal Hawaiian land.
Last spring: A Japanese investor paid over $10 million for a Waikīkī parcel.
This year: Shoei Global purchased the land under the Bank of Hawaii Waikīkī Center.

Market Landscape

The weak yen has reduced Japanese visitor spending in Hawaiʻi in recent years, yet buyers are now acquiring Waikīkī hotels, land and buildings. Investors are also looking to buy businesses, especially in manufacturing, in other U.S. markets.

Commercial property sales in Waikīkī and Honolulu at these price levels can shape leasing options and building ownership for local businesses. Owners and tenants in the state may see changes in who controls prominent properties.

The takeaway

Foreign ownership of Hawaiʻi commercial property is shifting as buyers adapt to currency conditions. Tracking brokerage activity and transaction records can help readers follow where investment is moving.