Head of Nareit talks growing presence of real estate investment trusts in Hawaiʻi
You may look at real estate investment trusts, or REITs, differently if you are an investor looking to make money versus a lawmaker looking to increase the tax coffers of the state. REITs don’t pay corporate taxes which means money made off those real estate investments doesn't necessarily stay here.
Steve Wechsler, president and CEO of the National Association of Real Estate Investment Trusts, was recently in Hawaiʻi to dole out grants to half a dozen community groups. Nareit has upped its profile in the islands following attempts by lawmakers over the years to extract more money out of REITs.
Nareit investments include most shopping malls on every island, as well as hotels and more. The Conversation spoke with Wechsler after he presented the Institute for Human Services a check to help improve the water system at the model homeless project — Kahauiki Village located just off Nimitz highway.
Editor's note: Nareit Hawaii is an underwriter of Hawaiʻi Public Radio
This interview aired on The Conversation on Sept. 29, 2022. The Conversation airs weekdays at 11 a.m. on HPR-1.