Queen Theater Brought to Market for First Time in More Than 50 Years

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Queen Theater Brought to Market for First Time in More Than 50 Years
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Queen Theater Brought to Market for First Time in More Than 50 Years

CBRE named exclusive listing agent for iconic Kaimuki commercial property at 3588 Waialae Ave

June 9, 2026

CBRE has been named the exclusive listing agent for the Queen Theater, located at 3588 Waialae Ave in the Kaimuki neighborhood of Honolulu. Originally constructed in 1936, the 12,497 sq. ft. building, 1936 is among the most recognizable assets along Waialae Avenue, is being offered for the first time in more than 50 years.

CBRE's Matthew McKeever is leading the marketing effort on behalf of the seller.

The property sits on a 10,396-square-foot parcel along Waialae Avenue, Kaimuki's primary commercial corridor. The existing improvements accommodate interim use while preserving long-term flexibility for adaptive reuse or repositioning. The property is offered fee simple and as-is, providing the acquiring investor full ownership of both land and improvements in a submarket where such control is rarely available.

Kaimuki is a supply-constrained urban infill submarket characterized by limited new commercial development and infrequent ownership turnover along its primary corridor. Fee simple assets of this scale along Waialae Avenue have rarely changed hands, positioning the Queen Theater as a durable long-term hold for investors seeking established Honolulu neighborhood retail fundamentals.

"The Queen Theater has been a fixture on Waialae Avenue for nearly 90 years, and opportunities to acquire fee simple control of a property like this in Kaimuki simply don't come around." Said McKeever. "Investors who understand Honolulu's land constraints recognize what that means for long-term value."

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world's largest commercial real estate services and investment firm and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.

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Kaimuki Hawaii News Item

Queen Theater Brought to Market for First Time in More Than 50 Years

Kaimuki Hawaii
News Item