With rental rates soaring across the nation, 8 lucky Hawaiian families are receiving the break of a lifetime, courtesy of Genshiro Kawamoto. The Japanese billionaire announced in October that he he will rent some of his multimillion dollar homes in exclusive Kahala to 8 Native Hawaiian families... for $150 a month!
According to the Associated Press, Kawamoto has selected 8 families from some 3,000 applicants who
will have the chance to live like kings at a peasant's price. Not only will these families be allowed to live in these homes for 10 years, Kawamoto also presented them $1000 to help with moving expense.
One such recipient of his generosity was Dorie-Ann Kahale who, with her five daughters, had been living in a homeless shelter (image on left.) She, along with 7 other families, received this letter from Kawamoto, informing her that she had been selected:
Kahala Avenue Mission
It is with great joy that I give you and your family this opportunity because you deserve it.
I chose you and your family amongst many Hawaiian people.
Please take and use this opportunity as your springboard so that you can reach even higher in the future!I hope you will strive for the future and raise your children to be honorable, fine men and women.
My hope is that each of your children will become mature who someday will possess strong wings to take off for The World!
Let us work to raise our future generation so that they will contribute greatly to the world, from Kahala Avenue to the State of Hawaii, from the State of Hawaii to the United States of America, and to the World?
Genshiro Kawamoto
Kawamoto, who made his money as a real estate investor, reportedly bought 160 homes on Oahu in the 1980's as well, which he rented out below market value. More recently, he bought 20 homes on the ultra-exclusive and pricey Kahala Avenue for a reported $115 million. When asked why he decided to rent out his homes to underprivileged people rather than at market price, Kawamoto responded simply, "because the affluent people can help the least fortunate people."
Not everyone is happy about his decision, though. Current residents of Kahala are wary of these poor newcomers allowing their homes to fall into disrepair and thus bringing down the value of their posh neighborhood.
**Check out this slideshow of Kawamoto presenting the families with the keys to their new homes.
**If you were not selected or are interested in renting an apartment or house in Hawaii, HotPads has lots of listings... though I doubt you'll be able to find such a great deal.
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