A real estate company based in Honolulu has purchased the family-owned Pāhoa Village Center.
Watumull Properties Corporation acquired the 101,000-square-foot neighborhood shopping center located at 15-2880 Pāhoa Village Road in Pāhoa in October for $4.39 million from the Bellman family.
The family, which has owned the center since at least 1984, added to the property during its stewardship.
Hawai‘i County Council Member Ashley Kierkiewicz thought the news about the real estate purchase was exciting.
“They are a big land owner on the Big Island,” said Kierkiewicz, who represents the community where the village center is located. “I’m just hoping they’re able to prioritize local businesses and entrepreneurs to have a brick and mortar.”
Some of the tenants include Black Rock Café, Synergy Hair Salon, Suds & Duds Laundromat, Hawaiian Academy of Arts and Science, Kinesis Physcial Therapy, Sate of Hawai‘i Puna Mental Health, Hawai‘i Island Community Health Center and Lokahi Treatment Center.
The Bellman Family was represented in the transaction by Michael F. Krystoff, real estate advisor with Cushman & Wakefield ChaneyBrooks. Watumull Properties Corp. represented itself in the acquisition.
JD Watumull, president of the real estate company, said Puna is a good area and one of the fastest growing in the state.
“Pāhoa Village Center has been a gathering place and a cornerstone commercial asset for the Puna community for decades,” Krystoff said. “This transaction reflects the legacy of long-term stewardship and the continued confidence in neighborhood centers that serve people’s everyday lives.
“It speaks to the enduring role these places play in supporting local communities and the businesses that call them home.”
Watumull said the property is well-maintained and the former owner, who also owns the laundromat, will continue to be a long-term tenant.
Watumull said his company’s plan is to renovate one of the office spaces and maintain the property.
Pāhoa Village Center serves as a primary retail and services hub for the Puna District, supporting local residents and businesses and forming an integral part of the commercial infrastructure of East Hawaiʻi.
Its transition to new long-term ownership reflects sustained confidence in the district’s continued recovery and the enduring importance of neighborhood centers in supporting daily commerce in East Hawaiʻi.
Watumull Properties Corporation is headquartered in Honolulu and owns and operates a diversified portfolio of commercial properties across the Hawaiian Islands and select Mainland cities.
The acquisition of Pāhoa Village Center aligns with the company’s long-term investment strategy in stable, community-oriented retail and regional markets. Watumull Properties also owns in the same vicinity the Keaʻau Shopping Center, Orchidland Convenience Plaza and Pāhoa Shopping Center.
