For Sale Fee Simple Redevelopment Land 845 22Nd Avenue | Honolulu, Hawaii 96816 Market Information Investment Summary

HALEIWA MILILANI KANEOHE Diamond Head AIEA KAPOLEI HONOLULU WAIKIKI FOR SALE FEE SIMPLE REDEVELOPMENT LAND 845 22ND AVENUE | HONOLULU, HAWAII 96816 MARKET INFORMATION INVESTMENT SUMMARY All offers will be accepted untilAugust 28, 2019 at 4:00 PM (HST). The Seller will leaseback the property for a period of two years at a $1.00 per year in rent with a one year option to extend.. ASKING PRICE: Best Offer Waikiki ADDRESS: 845 22nd Avenue, Honolulu, HI 96816 TENURE: Fee Simple LAND AREA: 9.28 acres TMK NOS.: (1) 3-2-54: 1 ASSESSED LAND VALUE: $33,700,000 NEIGHBORHOOD: Kaimuki/Kahala ZONING: R-5 Residential District HEIGHT LIMIT: 25 feet LOT RESTRICTIONS: None STREET SETBACK: None INVESTMENT HIGHLIGHTS Location of the property - located in an affluent and very desirable neighborhood, where home values and income levels are one of the highest in the State One of the last infill redevelopment opportunities in East Honolulu Proposed residential development plan with strong demographics Efficient size of potential lots and homes Close proximity to private schools Utilities to the property are located on all four streets that surround the property Ease of access to the property PROPERTY INFORMATION H-1 Kahala Mall LOCATION INFORMATION • Less than a mile from Kahala Mall • In close proximity to freeway on and off-ramps • At the edge of Kaimuki, bordering the prominent neighborhood of Kahala PROPERTY SUMMARY The property is in the submarket of Kaimuki and is approximately 9.28 acres of land located at 845 22nd Avenue, Honolulu, HI. The property is situated in a prime residential neighborhood - near schools, beaches, major points of interest (Waikiki and Diamond Head), city transit stations, health-care facilities and shopping malls. The property is ideal for a development play into a community of homes with land lots of approximately 5,000 square feet. Waialae - Kahala is an upscale neighborhood with secluded beaches and the Diamond Head Summit Trail, where dozens of stairs lead to a crater for sweeping sea views. It is the adjacent neighborhood to the property and has an average household income of $149,086 which is higher than island-wide and state averages. Median home prices in this neighborhood can range between $1.5M to over $37M. The nearby, iconic Kahala Hotel and Resort is known for its afternoon tea and al fresco seaside dining, as well as a lagoon with bottlenose dolphins. MARKET CONDITIONS Reports by state economists estimate a shortfall of roughly 26,000 units for Oahu over the next decade. Residential development has been hindered not only by a limited amount of land and high construction costs, but also by the lengthy zoning and building approval process. Housing growth has been minimal at an average growth rate of less than 1% annually since 1990. New residential development in urban Honolulu has been limited primarily to high-density multifamily projects in the Kapiolani/Kakaako trade area. Single-family home development has been minimal as large developable sites are rare in the urban core. Strong economic conditions and the return of capital to the marketplace have resulted in a healthy investment real estate market in Hawaii as evidenced by record sales volumes. In 2014, commercial property sales peaked at an estimated $4.57 billion. In 2015 and 2016, sales volume was lower but still above the $4.0 billion mark. Sales slowed in 2017 to $3.08 billion but reached a record new high in 2018 with $5.15 billion. Resort/Golf properties historically account for about half of all sales due to the large transaction size. Land sales last year accounted for about 9.4% of the total sales volume. PROPOSED SITE PLAN The proposed site plan was designed by architect Roy Yamamoto, who took into account all applicable zoning codes and ordinances to design a subdivision that could be created on the property. The lot sizes averaging approximately 5,000 SF will accommodate homes to be built with an average size of 2,000 SF. This design is consistent with the nearby neighborhoods and is likely to maximize development and revenue potential. DEMOGRAPHICS MEDIAN HOME PRICES* ISLAND 1-MILE 3-MILE 5-MILE OF OAHU • Kahala Median Listing Home Price: $1.8M • Kaimuki Median Listing Home Price: $1.3M POPULATION 18,218 121,417 225,676 1,432,368 SCHOOLS NEAR WAIALAE - KAHALA* AVERAGE HH $149,086 $101,923 $96,158 $100,268 INCOME • Kahala Elementary • Mayor John H Wilson Elementary MEDIAN AGE 46.9 41.8 42.6 37.4 • Kaimuki Middle School • Kalani High School BACHELOR 6,897 40,052 77,042 315,744 • Honolulu Waldorf School DEGREE+ • Star of the Sea School • Variety School of Hawaii *Source: Realtor.com CONTACTS MARK D. BRATTON* (R), CCIM MIKE PERKINS (S) COLLIERS INTERNATIONAL - HAWAII Investment Services Division Investment Services Division 220 S. King Street Ste 1800 808 523 9708 808 223 1344 Honolulu, Hawaii 96813 [email protected] [email protected] 808 524 2666 Due to the sensitive use of the property as a residential drug and alcohol treatment center, all potential buyers touring the property must be accompanied by a Colliers representative. * Bratton Realty Advisers, Ltd. Exclusively contracted to Colliers International HI, LLC. This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). ©2019. All rights reserved. CONFIDENTIALITY AGREEMENT THIS CONFIDENTIALITY AGREEMENT (this "Agreement") is made as of the _____ day of _______________, 2019, by ___________________________________________________________________________ ("Recipient"), in favor of The Salvation Army, whose principal place of business and post office address is 2950 Manoa Road, Honolulu, HI 96822 the owner of the Asset (defined below) (“Owner”), with respect to the fee simple interest in the property commonly known as The Salvation Army containing approximately 9.28 acres of land, located at 845 22nd Avenue, in the City and County of Honolulu, Hawaii, TMK Number(s) (1) 3-2-054: 001 and all improvements thereon (“Asset”). 1. Background. Owner and/or Owner’s broker, Colliers International (“Colliers”) may be providing and/or making available to Recipient information and/or documents relating to the Asset. The information may be presented to Recipient in various forms including, but not limited to, photocopies of documents, digital information on CD-ROM, digital information sent via electronic mail, and/or digital information accessible via the Internet (collectively “Information”). 2. Confidentiality. Recipient, including, but not limited to its directors, officers, employees, managers, members and/or shareholders, agrees that it will keep all Information, including any information derived from the Information, regardless of whether the Information is marked or specifically identified as “confidential” or “proprietary”, confidential, except as to Recipient’s professional consultants (disclosed to Owner in advance) who will be evaluating the feasibility of Recipient acquiring the Asset. The Confidential Information shall not include such portions thereof which (i) are or become available to the public other than as a result of a disclosure by the Recipient; (ii) becomes available on a non-confidential basis from another source which is not subject to a confidentiality agreement; (iii) was known by the Recipient prior to its disclosure by the Disclosing Party; or (iv) are required to be disclosed by applicable law or at the request of any regulatory authority having jurisdiction over the undersigned. Recipient further agrees, prior to disclosing the Information to any consultants, that it will inform such consultant that they are required to observe and maintain the confidentiality of the Information and the provisions of this Agreement. Recipient is authorized to share such Confidential Information with investors only after such investors have also signed a Confidentiality Agreement with similarly content that the expressed in this Confidentiality Agreement. 3. Limitation on Use of Information. All Information furnished to Recipient by Owner will be used solely by Recipient for the purpose of evaluating the feasibility of purchasing the Asset and Recipient agrees not to use the Information, including any information derived from the Information, for any other purpose. 4. Limitation on Disclosure of Information. Recipient will not disclose to anyone, with exception to its disclosed consultants, the existence of or any other aspect of the Information or any information derived from the Information. 5. Prohibition Against Copying and Return of Materials. No copies of the Information shall be made or disclosed to anyone whatsoever without the prior written consent of Owner. Upon the completion of the above-described evaluation, or upon request by Owner, Recipient shall return to Owner all Information in the form that was provided to Recipient and any and all duplications thereof. 6. Damages. Recipient acknowledges and agrees that Owner has a substantial, material and proprietary interest in the Information and that if the Information or any other information protected under this Agreement is disclosed by Recipient in any respect whatsoever without Owner’s prior written consent, Owner may suffer immediate and irreparable harm and may be substantially and materially damaged. Page 1 The Salvation Army Confidentiality Agreement 7. Remedies. In the event Recipient breaches any of the conditions set forth in this Agreement, Owner shall have the right to exercise all of its rights and remedies at law and equity, including, without limiting the generality of the foregoing, the right to obtain injunctive relief.

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