Jamie Brown, who founded Hawaii Commercial Real Estate in 2002, took back ownership from Elite Pacific LLC, parent of Corcoran Pacific Properties. Brown said the original business goals of the merger with Corcoran didn’t pan out, especially with the downturn in the residential real estate sales market. The merged company had hoped to grow HCRE’s business with leads from residential agents, to expand its reach and to reduce overhead. As it turned out, the commercial real estate market and business were so different from residential, that the merger did not achieve those goals, although HCRE did end up with two neighbor island agents. The breakup with Corcoran is amicable and allows both companies to focus on what they do best, and they continue to share business leads.
Founder Takes Back Ownership of Hawaii Commercial Real Estate
