11North Partners acquired Lahaina Cannery and Lahaina Gateway from U.S. Realty Partners in a $155 million deal financed partly by a $96 million PNC Bank loan. The two grocery-anchored centers together attract roughly 5 million customer visits annually.
- Lahaina Cannery (145,839 sq ft) and Lahaina Gateway (136,045 sq ft) sold together for $155M, reflecting strong investor demand for West Maui retail.
- Both centers sit at one of West Maui’s busiest commercial intersections along Honoapiilani Highway, serving as key shopping hubs for residents and visitors.
- Lahaina Cannery was over 95% leased at the time of sale, a significant improvement from Lahaina Gateway’s 77% occupancy when last sold in December 2022.
- Lahaina’s broader commercial recovery remains slow — only nine non-residential buildings completed as of February 2026, with 163 permits still in process.
- Rebuilding property owners in the area continue to navigate shoreline setback rules, historic-district boundaries, and Special Management Area regulations.
Source: Hoodline
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