Olson Trust Purchases Pahala Shopping Center
The Pahala Shopping Center is under new management.
Ownership of the center transferred in April from 300 Corp. to The Edmund C. Olson Trust No. 2. The sale brings ownership home from the Baltimore-based company, founded by the late Harry Weinberg, back to the Hawaiʻi-based Trust. The parcel is 41,395 square feet and includes a 7,320 square-foot building that hosts three anchor tenants: the Bank of Hawai`i, the US Post Office and Longs Pharmacy.
The Olson Trust scheduled a blessing shortly after acquisition of the property, which was performed by Danny and Anna Akaka. With ownership changing hands, the Trust said the blessing was of the utmost importance so as to place an emphasis on respecting the island’s inherent culture and Hawaiian values.
The Trust holds other assets including the Hāmākua Macadamia Nut Company, Ka’ū Coffee Mill, the Wainaku Executive Center, O.K. Farms and over 15,000 acres of conservation and agricultural land in the state. The Trust said through these holdings, it emphasizes an effort to keep Hawai’i green.
The acquisition of the Pahala Shopping Center is central to a mission stated by the Olson Trust to help Hawai’i develop self-sustaining communities that can thrive into the future. The center is the central hub of the community, which provides resources to residents in the town and brings new opportunities. The Trust said it plans to renovate and update the shopping center to ensure its longevity for years to come.
Olson, a long-time resident of the Big Island, has made significant investments into the area of Pahala, purchasing over 9,000 acres in the Ka’ū district and cultivating coffee and macadamia nuts there. Conservation is also a stated focus of the investments.