Leo Lakio
October 11th, 2007, 07:50 AM
Full article here (http://www.nytimes.com/2007/10/10/realestate/commercial/10hawaii.html?ref=commercial).
For years, large mainland-based retailers tended to steer clear of the islands that make up the state of Hawaii because of the extremely high costs of buying land and shipping goods, as well as a tight supply of construction workers and retail employees.
But in the last four years, a wave of retail development has washed over Hawaii, as the state has experienced a post-2001 rebound in tourism and growing optimism among residents, as job growth has been strong and home prices in many areas have roughly doubled since 2003.
The newcomers to Hawaii include Target, which plans to open two large stores by 2009; Nordstrom, which plans to open a larger-than-average store in Honolulu next spring; and Whole Foods, which plans to open four stores in Hawaii in the next three years, although plans for its first store, on Oahu, were stalled by the discovery of an ancient Hawaiian burial ground on the site.
Walgreens plans eventually to open 25 to 30 stores in Hawaii as part of its effort to compete with Longs Drugs, the dominant drugstore in the state. At Petco, the San Diego-based pet products retailer, a spokesman said his company was also looking for possible store sites in Hawaii.
For years, large mainland-based retailers tended to steer clear of the islands that make up the state of Hawaii because of the extremely high costs of buying land and shipping goods, as well as a tight supply of construction workers and retail employees.
But in the last four years, a wave of retail development has washed over Hawaii, as the state has experienced a post-2001 rebound in tourism and growing optimism among residents, as job growth has been strong and home prices in many areas have roughly doubled since 2003.
The newcomers to Hawaii include Target, which plans to open two large stores by 2009; Nordstrom, which plans to open a larger-than-average store in Honolulu next spring; and Whole Foods, which plans to open four stores in Hawaii in the next three years, although plans for its first store, on Oahu, were stalled by the discovery of an ancient Hawaiian burial ground on the site.
Walgreens plans eventually to open 25 to 30 stores in Hawaii as part of its effort to compete with Longs Drugs, the dominant drugstore in the state. At Petco, the San Diego-based pet products retailer, a spokesman said his company was also looking for possible store sites in Hawaii.