HILO — After nearly three years on the market, the Wainaku Executive Center is no closer to being sold, said a representative of the property’s owners Wednesday. ADVERTISING HILO — After nearly three years on the market, the Wainaku Executive
HILO — After nearly three years on the market, the Wainaku Executive Center is no closer to being sold, said a representative of the property’s owners Wednesday.
The 12,000-square-foot building was listed for sale along with the surrounding 12-acre property for $8.25 million in 2014.
Since then, however, no offers to purchase the property have been made, said a representative, who asked to remain anonymous, of the The Edmund C. Olson Trust II, the current owner of the property.
Nor has the asking price changed; MacArthur Sotheby’s International Realty continues to list the property at the same price as in 2014.
Although trust president Ed Olson reportedly intended to turn the property into a hotel when he purchased it in 2012, the property remains zoned industrial.
Until such time as the property is bought, the center will continue to serve as a venue for weddings and other small events, the representative said.
However, the center will no longer host its bimonthly public event Wainaku Wednesdays. The representative said the event “wasn’t profitable” enough to continue hosting. The final Wainaku Wednesday event was held last week, on Sept. 27.
Email Michael Brestovansky at mbrestovansky@hawaiitribune-herald.com.
