Hawaii Insurance

A Japanese company paid $ 245 million last week for a Hyatt hotel near Honolulu’s famous Waikiki Beach. He sells the same hotel two years ago for $ 108 million does not seem to surprise many people here: the Japanese investors the spoon hotels, restaurants, buildings, golf courses and only about another type of material assets Hawaii on prices.

According to bankers and local businessmen, efforts by the Reagan administration to reduce the nation trade deficit by reducing the value of the dollar against the Japanese yen, which led to an explosion new Japanese investment in recent months.

”It is simply been enormous,’’said Paul Brewbaker, an economist of the Bank of Hawaii, estimates, Japanese investors have spent $ 1 billion to $ 2 billion in hotels, office buildings, parks and other properties this year.

”It could be higher than that, he said”,” almost exclusively because of the low value of the dollar.”Buy real estate continental

The phenomenon is not limited to Hawaii. During recent months, Japanese interests also bought First-Class property to the USA, land worth several hundred million dollars, including two from Los Angeles’s most prestigious downtown office and retail complex , Arco Plaza and recently completed Chase Plaza.

In September 1985, the USA and some of its major trading partners, including Japan, an agreement on reducing the value of the dollar, for the sake of increasing the USA trade deficit. Since then, the dollar has collapsed, 55 percent against the yen. But most economists say it is too important an attack on reducing imports and boosting exports.

But as there are plans for a low-key ceremony here labelling of December 7 45 Anniversary of the Japanese attack on Pearl Harbor, say the entrepreneurs, its effects are obviously in a rush extension of the country, Hawaiians are some applaud as a welcome infusion of capital and other, because they say it could become an economic powerhouse Japanese in the country.

Amounts of the Japanese capital flows have been in Hawaii for over two decades, most dramatically demonstrated by the acquisition of the emblem of Waikiki Beach Hotel, Royal Hawaiian Resort and other characteristics of a man ‘Japanese business, Kenji Osano, in the late 1970’s. Spring in Hotel Prices

But after several years of subsiding, Yoshiharu Satoh, president of the Central Pacific Bank here, there is now eine”neue”Welle investment, including a large proportion of small businesses that in the past.

Ronald F. Gilligan, a Honolulu hotel brokers and advisers, said he believes that last year, property prices Prime Hotel sprang”25 by 50 percent or mehr”fast only because of Japanese spending spree interests.

”The recovery of Japanese yen, the buyer, its point of view, the sale of $ denominated assets at a discount considerable - as much as 40 percent a year or so, Sir,’’said Gilligan .

Adding to the fervor of interest, he says, are a sensation in Japan, make investments here that the prestige and interest rates relatively low Japan they have attractive for investors and the various Unternehmen ‘ ‘auf their assets in Tokyo to buy properties here.”He also underway on a relaxation of laws that restricted certain investments abroad.

Mr. Gilligan believes that Japanese interests now hold a dominant position or participation in approximately 75 percent of the nearly 20 hotels on the seafront at Waikiki Beach, including many of the most valuable property on Oahu, the island dominated by the city of Honolulu. In addition, he said Japanese interests had a lot invested hundreds of millions of dollars in Resort Properties on the islands of Maui, Hawaii and Kauai, where most new Resort development in the state is now scheduled.