Business Monday: Honolulu real estate company buys family-owned Pāhoa Village Center

February 3, 2026 - 02:35

A longtime family-owned commercial hub on the Big Island has changed hands. The Pāhoa Village Center, a staple shopping plaza in the Puna district, was recently purchased by a Honolulu-based real estate company for $4.39 million. The sale was finalized in October.

The property had been under the stewardship of the Bellman family since at least 1984. The center serves as a crucial community anchor, housing a mix of essential businesses including a grocery store, restaurants, and various retail services that cater to local residents.

This acquisition represents a significant shift in ownership for a key local asset. The new Honolulu ownership brings the plaza under the management of a larger, off-island real estate portfolio. Industry observers note that such purchases often signal investor confidence in the long-term growth potential of the Puna region, despite its historical market volatility.

The immediate plans for the center under its new ownership have not been publicly detailed. Tenants and community members are awaiting information on whether the sale will lead to renovations, changes in leasing strategy, or new tenant recruitment for the village center's storefronts. The transaction underscores the ongoing flow of investment capital into Hawaii Island's commercial real estate market.