Hawaii: Real estate brokerage Hawaii Life has announced the acquisition of Gold Coast Real Estate Inc. in Waikiki.
Gold Coast Real Estate president and principal broker, Don Persons, who also founded the firm in 1996, is now set to join Hawaii Life along with his team of 20 agents, whose work spans across the sales and property management of homes along Waikiki’s Gold Coast.
The deal transition should be officially completed in around a month, according to Hawaii Life CEO and principal broker, Matt Beall, when talking to Pacific Business News.
Persons said in a statement: “My decision to join Hawaii Life came from an opportunity to add all of the high-tech features that such a company would provide, allowing us to join in the digital and luxury marketing of a state-wide company that has global affiliations to both Christie’s International [Real Estate] and Luxury Portfolio International.
“I was looking for the opportunity that would give the greatest growth potential to everyone in the company, while still having the same team in place and increasing the satisfaction level of our clients. Having watched the growth and acquisitions by Hawaii Life with quality companies and individuals, I knew that this was the right direction,” he added.
Gold Coast becomes the ninth firm that Hawaii Life has purchased since 2016. Last month, the company promoted broker John Climaldi to the position of director of international affiliations to manage its collaborations with Christie’s International, Leading Real Estate Companies of the World and Luxury Portfolio International.
Gold Coast’s vacation rental portfolio specialises in short-term rentals with an average stay of 30 days, and Beall said it did so well in advance of the City and County of Honolulu’s crackdown on illegal rentals this summer.