CRE Opportunities in Honolulu
I have an opportunity to move with friends out to Honolulu and I’ve been seriously contemplating the idea. I’d be targeting an analyst role, is this a tangible goal in a city like Honolulu? I’d assume most firms would be in the hotel/hospitality business.
Does anyone know or reputable firms on the island?
Ah, Honolulu! A place where the sun kisses the ocean, and the real estate market is as intriguing as its landscapes. Now, diving into the CRE (Commercial Real Estate) scene in Honolulu, you're right to think that the hotel and hospitality sector is a big player. Given the city's global appeal as a tourist destination, a significant portion of commercial real estate revolves around accommodating the endless waves of visitors.
However, it's not all about hotels and resorts. There's a broader spectrum of CRE opportunities, including retail, office spaces, and even some industrial properties, given Honolulu's strategic location in the Pacific. The challenge, though, is that Honolulu is not a massive city, so the CRE market might not be as vast as in larger metropolitan areas. This means opportunities might be more limited, but they are certainly there.
For reputable firms in Honolulu, while the context doesn't specifically list firms operating in Hawaii, it's a smart move to look into companies with a strong national or international presence that might have branches or projects in Honolulu. Firms like Hines, Greystar, and Lincoln Property Trust, mentioned in the context, are known for their extensive portfolios and could potentially have operations or interests in Honolulu, especially in sectors like hospitality and mixed-use developments that cater to both tourists and locals.
To target an analyst role, networking and connecting with local real estate professionals and attending industry events could be particularly beneficial. The real estate community in smaller markets can often be tight-knit, so making inroads through personal connections can sometimes open doors that aren't advertised on the open market.
Remember, while the focus might be on hospitality, don't overlook the potential in other sectors. The unique dynamics of Honolulu's market could offer interesting opportunities in areas like retail, especially in locations that cater to tourists, or even in emerging sectors like sustainable development, given the island's focus on conservation and eco-friendly initiatives.
In summary, while targeting an analyst role in Honolulu's CRE market might come with its set of challenges due to the market size and focus, it's definitely a tangible goal. With the right approach, focusing on networking, and possibly leveraging connections to larger firms with a presence in the area, you could find a niche that suits your interests and expertise.
Sources: Best Headhunting Shops ?, Any good real estate firms in Arizona???, What are some great and also good real estate firms that I should look into in southern California?, Reputable Firms in the PEI 300, Good Commodity Trading Firms?
Ah, Honolulu! The land where the sun kisses the sea, and the real estate market is as intriguing as its landscapes. Now, diving into the world of Commercial Real Estate (CRE) in Honolulu, you're right to assume that the hotel and hospitality sector is a big player. Given the city's global appeal as a tourist destination, there's a significant focus on properties that cater to visitors.
However, it's important to remember that while hospitality is a major part of the market, it's not the only game in town. There are opportunities in retail, office, and residential real estate as well, especially considering Honolulu's status as a major hub in the Pacific. The city's unique position means there's a variety of real estate needs to be met, from luxury residential properties to commercial spaces that serve both tourists and the local population.
As for reputable firms in Honolulu, while the context provided doesn't list specific companies operating in Hawaii, it's a smart move to look into firms with a strong national or international presence that might have branches or projects in Honolulu. Companies like Hines, Greystar, and Lincoln Property Trust, mentioned in the context for their operations in other regions, could be a good starting point. They often have diverse portfolios that could include projects in unique markets like Honolulu.
For an analyst role specifically, it's definitely a tangible goal. Analyst positions are crucial across all areas of CRE, from acquisitions and development to asset management and leasing. Your focus on the hotel/hospitality business could be an asset, given the local market's leanings, but don't shy away from exploring firms involved in other types of real estate as well.
Networking and connecting with local real estate professionals or groups could provide more targeted insights into the Honolulu market. Also, considering the potential for remote work in some analyst roles, you might find opportunities with firms that are based elsewhere but have investments or projects in Honolulu.
In summary, while the hospitality sector is a significant part of Honolulu's CRE landscape, there are opportunities across the board. With the right research and networking, landing an analyst role in this vibrant city is a very tangible goal. Aloha to your adventures in real estate!
Sources: Best Headhunting Shops ?, Any good real estate firms in Arizona???, What are some great and also good real estate firms that I should look into in southern California?, Reputable Firms in the PEI 300, Good Commodity Trading Firms?
I hear you can make a good living painting roofs blue…
But in all honestly, idk.
From Hawaii, so I can give some insight. Just a caveat being that this is my perspective as someone from Hawaii but working in mainland US and not working on island.
Entries into HI are slim. There are not that many firms out there just because there is not a lot of commercial real estate. A significant portion of the land is zoned for single family. As such, roles are few and far between. If you’re asking this question, I’m guessing you’re not from HI? Unless you’ve already got a solid name on your resume, people are going to discount you if you’re not from HI. You can look up Hawaii memes, but there’s a bunch of jokes about how people will ask you what high school you went to, because there it matters. Connections are everything, and I also even know smart folks who struggled to get their foot in the door, even with connections just because there weren’t a lot of roles.
Additionally, do you want to stay in HI long term? Why would some company hire joe / sally shmoe at an analyst level to train them for 2 years before they go back to California, when they can hire their buddy’s kid who’s whole family lives on-island, has lived on-island for generations, and doesn’t ever want to leave? Also on the flip side of this, Hawaii real estate can be pretty niche, are you okay with being stuck in HI for a while? It can be very hard to leave as well.
You’re also in a constant fight with locals who don’t want to see more developers, especially (no offense) outsiders, earning profits off of their land. There’s a ton of politics at play. Hawaii also moves on Hawaii time, permits get approved at a leisurely pace, and big things are slow to happen. Are you cool with those too?
As for firm names, CBRE has an office there doing brokerage, they recently sold a multi conversion deal that’s pretty cool. Some other names are Alexander and Baldwin (REIT), Avalon Group, Macnaughton Group, Trinity Investments, Blacksand Capital, Kamehameha Schools.
Don’t get me wrong, it’s a wonderful place, and i truly believe that anything is possible so if you want it, go for it, but want to give realistic expectations. Feel free to pm if you have any specific questions.
This was great to hear and thank you for the response. Sounds like I’m better off working on mainland and visiting the beautiful island!
This is great advice and you probably said it better than I could. I’m from Hawaii too and been living on the Mainland now over half my life.
That said, I totally don’t want to dissuade someone from trying Hawaii even though it is so unique. Hawaii depends on the influx of people coming in (to replace people leaving), and while it can be different, you might never leave and that can be totally ok as well. Or if you do leave, you’ll leave with a lot of life experience, a lot of it positive.
The firms you mentioned are about it. I once interviewed for Alexander and Baldwin thinking I’d come home. I think from a real estate career lens, what really excited me was this romantic notion of impacting Hawaii’s land use and real
estate future. I think having that extra desire is important to dedicating yourself to a small but special market.
Lastly, the weather, beaches, and lifestyle you can create for yourself is a dream for me. Even living in SF which is really nice, I catch myself daydreaming of bodyboarding at Makapu’u on the weekends and with my kids (Bellows if they’re with me) and snorkeling.
If you’re young, with friends going with you, this moment could change your life. There’s always Bank of Hawaii or some other corp finance job like with Hawaiian Air.
I think Hawaii business culture has become more like Mainland over the past 20 years, especially with M&A from national firms and tapping into the capital markets.
Agreed! I didn’t mean to dissuade anyone from trying, if you can make it work, whether its through real estate or otherwise, it is truly an awesome place to live. Great surfing, great weather, and amazing lifestyle. Just wanted to give a realistic perspective about coming into CRE on island.
I'd suggest looking into freelancing on the side on websites like Upwork. North american analysts have hourly rates of $75-$125 USD / hour depending on your experience. Also remote positions are worth checking out.
Start building your side income now, then move when you have 6-12 months of savings saved up to hawaii - quit job - continue freelancing and expanding into a consultancy business.
this is so much easier than people think
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