The assessed land value of the properties is $117.6 million. "Im sure hell work it out,"Foth said. Kyodo News said Kawamoto was arrested for hiding more than $31 million in revenue over three years ending in December 2011, avoiding $9.2 million in corporate taxes. By entering your email and clicking Sign Up, you're agreeing to let us send you customized marketing messages about us and our advertising partners. Several homes were demolished, some have been vandalized and some were sold. TOKYO. "In order to make this beautiful street, all the houses and gardens will be lit up in the evening so that people can enjoy the view at their own leisure," Kawamoto said in a written statement in 2006. Genshiro Kawamoto ( , Kawamoto Genshiro, born 1932) is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. Part of HuffPost Home & Living. Marugen is a company that Kawamoto established in 1961 to seek real estate opportunities after closing a kimono shop he inherited from his family, and the business grew into a cash machine. He is also notable for controversial real estate investments in the late 1980s, when he bought more than 170 properties, including many Oahu homes. Alexander & Baldwin announced Tuesday that it has purchased 31 properties from Japanese billionaire Genshiro Kawamoto for $98 million. Then he began buying up million-dollar estates on Kahala Avenue, spending close to $165 million for almost 30 homes over the last decade. Alexander & Baldwin says it will refurbish the properties. The buildings house clubs and bars. One neighbor, who asked not to be identified so as not to attract a reaction from Kawamoto, wondered whether Kawamoto would be allowed to return to Hawaii if convicted, and suggested that perhaps his purported good deeds here that included breaking down walls and filling in swimming pools were being repaid in Japan. I feel sorry for the neighbors who have to see that every day.". Genshiro Kawamoto ( , Kawamoto Genshiro, born 1932) is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. Japanese Billionaire Sells Honolulu Properties For $98 Million. Are there mansions in Japan? Turbin believes Kawamoto relished tweaking his neighbors and showing off his power,. Genshiro Kawamoto (328 matches): Phone Number, Email, Address - Spokeo The local land development company bought 27 properties along Kahala Avenue, which represents 16 percent of the strip's residential lots, as well as two residential lots and a preservation-zoned . The Tokyo District Public Prosecutor's Office special investigation squad accused Kawamoto of hiding 3.5 billion yen in earnings and arrested him in early March. 328 people named Genshiro Kawamoto found in California and Hawaii. Read the full story with our Print & Digital Subscription. The purchase ostensibly ends years of torment for Kahala residents who have complained that the Japanese real estate mogul let his properties decay in order to drive down nearby property values. Alexander & Baldwin is planning to hold an auction to sell off the remaining furniture from Kahala's most famous or infamous investor, Genshiro Kawamoto. You're reading a premium story. Refine Your Search Results. Gone are the graffiti, boarded-up windows, broken glass, crumbling walls and over-grown weeds. Refine Your Search Results. Yet that is what Japanese media are suggesting might be the case after Kawamoto, 81, was arrested Tuesday in Tokyo for suspected tax evasion. Genshiro Kawamoto (born 1932) is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. 4607 Kahala Ave ( MLS# 1006464) is listed for $17.8 Million Prices range from $1.88 Million to $17.8 Million. [2] Now that the . Kawamoto checked tax documents before they were submitted, the sources said. He has several night clubs in Tokyo that are apparently connected to the Yakuza. Property tycoon accused of tax evasion posts Y500 mil bail in cash Last Of Japanese Billionaire Genshiro Kawamoto's Kahala Properties Sold "It looks like they went to Costco and bought several six-packs of statues and then threw them all over. Enjoy this free story! The independent contractor said he expects Kawamoto to emerge from the tax ordeal in Japan and follow through with his Hawaii garden and museum plan. Genshiro Kawamoto owned several buildings, villas and mansions in Kahala. The other element of the plan was to create art and garden museums. [1] He is also notable for controversial real estate investments in the late 1980s, when he bought more than 170 properties, including many Oahu homes. Soon the last traces of Japanese billionaire Genshiro Kawamoto's occupation of Kahala Avenue will be obliterated. Tokyo Shoji, which has been liquidated, did not pay corporate tax during that period as it reported losses. Mahalo for supporting Honolulu Star-Advertiser. Read Civil Beat's three-part series on Genshiro Kawamoto and Kahala neighborhood concerns, Land Barren: Japanese Billionaire Is Raising Eyebrows, Razing Houses. The local land development company bought 27 properties along Kahala Avenue, which represents 16 percent of the strip's residential lots, as well as two residential lots and a preservation-zoned parcel on Oahu's windward side and 146 acres of agricultural land in south Maui. Kawamoto told the Yomiuri Shimbun on Feb. 22 that he did not handle accounting details. Kawamoto, once ranked among international billionaires by Forbes, has denied that he cheated on his taxes. Auction Planned for Billionaire Genshiro Kawamoto's Furniture An accountant for Marugen reportedly told prosecutors that Kawamoto gave instructions to juggle accounts, the Yomiuri Shimbun reported. Lived In Sacramento CA. Also known as Gensiro Kawamoto. Lived In Sacramento CA. Kawamoto paid around $170 million for the properties that he sold to Alexander & Baldwin for $98 million. Kawamoto was occasionally informed of sales, and told the employee to juggle the accounts to keep the company "slightly in the red," the newspaper reported. Genshiro Kawamoto in California - Spokeo Kawamoto announced a plan in 2006 he dubbed "Kahala Avenue Mission" to rent nine homes to nine Native Hawaiian families for $150 to $200 a month, though complaints over housing discrimination led him to curtail the plan and provide three Hawaiian families with free residences since 2007. Kawamoto crudely broke down walls, leaving rubble lying about. Japanese Billionaire Sells Honolulu Properties For $98 Million - HuffPost Courts have sentenced 86 year old property mogul Genshiro Kawamoto to 4 years in prison for tax evasion. In Hawaii, Kawamoto returned about a decade ago and began selling most of his homes that he had rented out with little upkeep over the preceding 15 years. "It was a beautiful home. Those who have met Kawamoto describe dueling characteristics of cunning and naivet. tokyoreporter.com Ginza's 'property king' disappears Genshiro Kawamoto's abandoned mansion. The properties will be up for sale immediately, according to the company. He is also notable for controversial real estate investments in the late 1980s, when he bought more than 170 properties, including many O ahu homes. CINDY ELLEN RUSSELL / [email protected], Read this story for free: Watch an ad or complete a survey, Layoff count at Tesoro revised to 210 workers, Sam Choy's BLC will close at month's end after 15 years. By Adrienne LaFrance 05/22/2012 Hawaii has known of Genshiro Kawamoto for nearly a quarter century now, but still little is known about the famously reclusive real estate mogul. Gensiro Kawamoto (born 1932), Japanese Businessperson | World Click a location below to find Genshiro more easily. Gangs in Hawaii - Mafia & Crime in Paradise - DanielsHawaii.com Already a subscriber? I hope (Japanese authorities)look into money laundering.". Japanese billionaire's arrest tied to Kahala property - Hawaii News Now As . Land Barren: Who is Genshiro Kawamoto? - Honolulu Civil Beat Woman sues Japanese billionaire known for rent-free mansions "We will be focused on cleaning up these properties, and anticipate a full recovery in property values," Michael Wright, executive vice president for A&B Properties, said in a press release. Mulboyne on Twitter Words he clearly lived by, as in 2013 he was arrested on suspicion of evading over 800 million yen in payments a charge that in 2018 eventually resulted in the then 86-year-old receiving a 4-year prison sentence along with a 240 million yen fine. An eclectic, some might say eccentric, array of Greek statutes stretches along one lawn of the prime oceanfront properties. Bye, Bye Genshiro Kawamoto Hello, Kahala Avenue Property Values The following article is provided by Civil Beat. Alexander & Baldwin announced Tuesday that it has purchased 31 properties from Japanese billionaire Genshiro Kawamoto for $98 million. Activate your Digital Account now. Japanese Billionaire Kawamoto Lists Kahala Homes For Sale Ginza's 'property king' handed 4-year term for tax evasion - TokyoReporter Earlier this year, Kawamoto was arrested in Tokyo on suspicion of failing to pay more than 800 million yen, or $8.5 million, in corporate taxes. View Oahu luxury homes here. Now, Kahala residents who have been perplexed and in some cases angered by Kawamotos property makeovers on the street dotted with million-dollar beachfront mansions are wondering how the tax evasion case might affect their enigmatic neighbors plans to transform some of his real estate into art and garden museums. Different sources confirm Mr. Kawamoto is involved with the Yakuza in Japan. Kawamoto is the president of a real estate company called 'Marugen Building' in Ginza, Tokyo. He also filled in swimming pools, he said for liability reasons, and often let vegetation grow wild. He subsequently bailed himself out for $5 million, according to news reports. Genshiro Kawamoto is a Japanese businessman known for his real estate investments in Japan, California and Hawaii. Denby Fawcett: Bye Bye, Genshiro Kawamoto - Honolulu Civil Beat This 2014 report has background on the case following his original arrest. All Filters. On four properties he has arranged dozens of statues, including life-size lions, nudes and towering pagodas. Japanese Billionaire Is Raising Eyebrows, Razing Houses. Log in now to continue reading this story. Resides in Citrus Heights, CA. Between 2009 and 2011, Marugen Group, which Kawamoto presides over, concealed 3.543 billion yen in earnings in evading 1.06 billion yen in taxes. But in a statement Tuesday, Benjamin said: "Our experience and balance sheet strength allowed us to negotiate and close the all-cash deal in less than 90 days, once the seller indicated a willingness to sell, and we anticipate achieving investment returns consistent with our past Hawaii investments.". After Japan Arrest, Will Genshiro Kawamoto Lose Kahala Houses? Statues of lions have been placed in the driveway of one of Genshiro Kawamoto's Kahala Avenue homes.