Hawaii Five-O to seek a new home

EXCLUSIVE: Hawaii Five-O to seek a new home
Published: Aug. 20, 2012 at 10:22 PM HST|Updated: Aug. 21, 2012 at 2:30 PM HST
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HONOLULU (HawaiiNewsNow) - Hawaii-Five O will soon be looking for a new home.

Hawaii News Now has learned that the landmark Honolulu Advertiser Building, which has housed the popular television series for the past two years, is being sold to local developer Marshall Hung, who plans to build condos. Sources say that Hawaii Five-O executives are working with state officials to find a new location in Hawaii. But it could take some time to find a space large enough for the show's trailers, its stages and its more than 150 employees.

In the meantime, Hawaii Five-0 officials have been able to secure the use of the existing stages through the show's third season, which kicks off next month.

Hung did not return calls but sources said he plans to build condominiums on the South Street portion of the 1.94-acre lot. He also will preserve the iconic News Building that sits on the Kapiolani Boulevard section of the property.

Real Estate expert Mike Hamasu said the proposed project underscores developer's increasing interest in Kakaako.

"There is a significant amount of development underway," said Hamasu, director of consulting & research at Collier's Monroe Friedlander.

"We have 13 proposed projects that are scheduled, or slated or planned for the area."

Hung is a developer of condominiums and other commercial projects in Honolulu. Most recently, he built the affordable high-rise at 215 N. King Street in Chinatown.

Opened in 1929, the Honolulu Advertiser Building used to be the home of the Honolulu Advertiser and the Honolulu Star-Bulletin. In 2010, Gannett Co. put the building on the market after it sold the Advertiser to the rival Star-Bulletin.

If he completes the deal, Hung must get approvals from the state before he can start building.

Copyright 2012 Hawaii News Now. All rights reserved.