Captain Real Estate

Hawaii Based

International Valuation & Consultancy

Captain Real Estate specializes in providing sophisticated international clients with reliable solutions to complex real estate problems.

-Nick Captain, MAI, CRE

FAQS

Q

How do you appraise real estate that has no comparables?

A

A We’ve been involved in some unusual assignments including estimating loss in use value for remote Marshall Islands atolls contaminated by the former US nuclear testing programs estimating a rough order of magnitude value for an island with an active volcano, and many others. We continue researching until we find adequate relative indicators of value.

Q

Do we really need an “appraisal”?

A

Sometimes a formal, regulator approved appraisal is required by lenders, insurance companies, lawyers and others. But if it’s not required, don’t get one. Consulting services are typically less expensive and in many cases just as reliable. Don’t forget appraisals are only good for one day (effective date of value) and typically involve retrospective analyses which may or may not meet you needs. Consult an expert if uncertain.

Countries and Territories Served

Hawaii

Hawaii, USA – Since 2017 return to Honolulu, assisted Japan-based clients with Sheraton Keauhou Resort (Big Island), Surfjack Hotel (Waikiki) and Park Lane Condominium. Between 1991 and 1997, involved in analysis of a wide range of properties and complex ownership positions including Polynesian Cultural Center, Kauai Fern Grotto, Grand Wailea Resort and many others.

Fiji

Fiji – U.S. Ambassador housing related study and land studies completed in Suva.

Palau

Republic of Palau – Dozens of studies completed since 1993 including Koror, Malakal, Babeldaob, Peleliu, and Anguar islands including 16 states. Major studies for Koror State and Palau Public Lands Authorities as well as future U.S Embassy site at Airai State. First testified as Expert Witness in Palau Supreme Court in 1999.

Marshall Islands

Marshall Islands – Nuclear Claims Tribunal study estimating loss in use value for three remote atolls that were contaminated as a result of the 1950’s United States nuclear testing program; specifically the Bravo shot at Bikini atoll. Various other assignments in Majuro.

Pagan, CNMI

Pagan, CNMI – Preliminary order of magnitude study of island impacted by active volcano, for confidential client.

Samoa

Independent (fka Western) State of Samoa
Completed Upolu Island land study for litigation proceedings.

Papua New Guinea

Papua New Guinea – Port Moresby luxury housing and land studies completed for U.S Department of State.

American Samoa

American Samoa – Former historic Rainmaker Hotel as well as dozens of lender, litigation and government related studies, including short term leasehold analyses.

Guam

Guam – Nearly 1,000 assignments completed between 1993 to 2017. Island wide coverage including all major property types, submerged land studies, conservation land, Coco Island, Ritidian Point, military land, housing and market studies, etc. Numerous personal and partnership investments (nearly $30 million) and brokerage work (excess of $100 million).

Pohnpei

Pohnpei, FSM – Estimated market value of future and alternate U.S Embassy sites for the U.S Department of State. Other litigation and lending related work completed for lawyers and banks.

Kosrae

Kosrae – Conservation easement studies regarding endemic Ka tree forest, in cooperation with the U.S. Forest Service and The Nature Conservancy.

Yap

Yap, FSM – Estimated market value of Trader’s Ridge, a unique, Victorian style, upscale boutique hotel/writer’s retreat.

Chuuk

Chuuk, FSM – Assisted Exxon/Mobil with rent renegotiation study for fuel tank site located along the harbor.

Japan

Japan – Major study for U.S Navy military housing including Yokosuka, Ikego, Atsugi and Sasebo locations.

Tinian

Tinian Dynasty Resort Hotel & Casino analyzed for Taiwan-based client. Major land studies completed for government use.

Philippines

Philippines – Resort ownership position in Boracay since 2007.

New Zealand

New Zealand – Multiple resort ownership positions in Auckland and Orewa since 2012.

Rota

Rota, CNMI – Rota Golf Resort leasehold and leased fee values, and numerous other land studies.

Saipan

Dozens of valuation studies, mostly resort, oceanfront land, as well as investment and various brokerage work. Hotel value diminution for litigation purposes.