Public Auction Sale – Island of Oahu

Posted on Dec 8, 2016 in Public Hearings and Notices

NOTICE OF SALE   February 14, 2017 

PUBLIC AUCTION SALE OF ONE (1) STATE OF HAWAII LEASE 
ON THE ISLAND OF OAHU

The Department of Land and Natural Resources (“DLNR“), Land Division, Oahu District Branch, will be conducting a public auction sale of one (1) lease for State land at the following date and location:

DATE & TIME February 14, 2017, at 10:00 AM (HST)
PLACE  Kalanimoku Building, 1151 Punchbowl Street, Room 220
Honolulu, Hawaii 96813

The above date, time, and/or place of auction are subject to change by DLNR. 

The lease to be auctioned on the above date covers the following parcel located at the corner of Kilihau Street and Kakoi Street, Moanalua, Honolulu, Oahu.

Location:   Portions of Government Lands situated at Moanalua, Honolulu, Island of Oahu, Hawaii as shown and described on Government Survey Map C.S.F. No. 22,279 dated March 1, 1995.
Tax Map Key: (1) 1-1-064:006   
Land Area: 9,005 square feet
Permitted Uses:   Open storage or parking purposes.
Lease Term: Twenty (20) years
Commencement Date: No more than thirty (30) calendar days from the date DLNR transmits the lease to the successful bidder for execution; provided that if such date is not on the first day of any month, the commencement date shall be the first day of the month following such date; and further provided that the Chairperson may amend the commencement date for good cause.
Upset Minimum Annual

Base Rent: 

$27,351.00 per annum, payable semi-annually in advance

Fixed Increases in Minimum

Annual Base Rent:  

Twenty (20) years known rent subject to fixed increases in the minimum annual base rent
First 10 Years             Fixed
Years 11 – 20             1st Year’s Base Rent x 1.28 
Performance Bond:  Equal to two times the annual rental payable
Improvement Bond:  Equal to the value of improvements, if any.
Encumbrances:      Refer to the draft lease document and the exhibits to the lease for encumbrances to the lease, including but not limited to existing easements.

Notice of Sale

Bid Packet

Applications by prospective bidders for the above lease must be received by DLNR no later than Tuesday, January 17th, 2017; 4:00 p.m. (HST)

Appendix A  APPLICATION AND QUALIFICATION QUESTIONNAIRE
Appendix B MEMORANDOM OF LEASE
Appendix C GENERAL LEASE
Appendix D STATE AND COUNTY TAX CLEARANCES
Appendix E CASH FLOW PROJECTION (SAMPLE)
Appendix F PERSONAL FINANCIAL STATEMENT (SAMPLE)