Bruce McDonald of Wailea Realty Corp. recently returned from his third trip to Shanghai, China, where he met with potential partners and buyers interested in Hawai'i's real estate market.
"It was also my first trip to Taipei, Taiwan, since the international visa restrictions were removed," said McDonald. "Both trips revealed unprecedented opportunities for our local economy."
Hawai'i is rapidly becoming a real estate hot spot for Chinese buyers, he said. According to a recent report issued by the National Association of Realtors, the Chinese are now the second-largest foreign investors in U.S. real estate after Canadians.
Bruce McDonald of Wailea Realty Corp. has formed ShangHawaii Realty LLC, a company that will specialize in assisting Asian buyers looking to purchase property in Hawai‘i.
"Chinese buyers are attracted to our lifestyle and financial security," said McDonald. "In addition, the U.S. is regarded by many as an ideal place for expansion and investment, as well as a pathway to educational prosperity."
With this in mind, McDonald has formed ShangHawaii Realty LLC, a company that will specialize in assisting Asian buyers looking to purchase residential and commercial properties in Hawai'i. ShangHawaii Realty LLC will operate under the umbrella of Wailea Realty Corp., a homegrown Maui-based real estate company that has amassed over $1 billion in sales.
McDonald has recruited a competent team of experts for this venture, including Jessica Su, an international tax consultant with O'ahu-based accounting firm Crowe Horwath International, and Alan Ma, a Honolulu attorney who specializes in cross-border legal issues, as well as processing EB5 and international immigration visas. McDonald has also assembled a skilled team of Mandarin translators and interpreters.
ShangHawaii Realty LLC is set to launch a major marketing campaign in Shanghai and other regions, with the anticipation of sales generation by mid-2014.
"I strongly believe in a strong and excelled Asian presence here in Hawai'i," he said. "That's what inspired me to transform my vision into a reality."