Japanese residents were the top foreign buyers of Hawaii real estate in 2014 with 291 purchases for a total of $278 million, according to Title Guaranty.
Mike Imanaka, senior vice president of data services for the Honolulu-based title services company, told PBN that the Japanese continue to value Hawaii real estate, especially in Waikiki, with its proximity to the beach and shopping.
The Japanese also are interested in Kakaako, Imanaka said.
"When the ONE Ala Moana [luxury condominium] was developed, it provided the perfect opportunity for continued value-based investment and proximity to shopping," he said. "Japanese investment will likely continue in the Kakaako area."
Rounding out the top five purchases by foreign investors last year were Canada (213 purchases, $165 million); Singapore (15 purchases, $57 million); China (15 purchases, $25 million); and Hong Kong (13 purchases, $14 million).