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Hawaii Highrise Fire

Hawaii Highrise Fire

Hawaii Highrise Fire

(OP)
From the BBC:

At least three people have been killed and more are feared dead in a fire in a block of high-rise flats in Honolulu, Hawaii, firefighters say.

Black smoke was seen billowing from the 26th floor of the 36th-storey condominium, a short distance from one of the US state's famous beaches.

Twelve people were hurt in the blaze, according to officials. Emergency services are searching for survivors.

Officials said the building did not have a sprinkler system.

Link: http://www.bbc.com/news/world-us-canada-40617092

RE: Hawaii Highrise Fire

(OP)
great handle...

Dik

RE: Hawaii Highrise Fire

It was a Friday afternoon...aloha or Pa├║ Hana Friday as we locals call it...I was down on the beach in Waikiki at the time, running around Diamond Head, about 1 mile away from the building.

This building was built in 1969/70 and finished in 1971, pre the 1974 City & County of Honolulu Building Code requirement of mandatory fire-sprinklers.

One of my daughter's co-worker lives (lived?) in the building - a few floors up from the fire start. Her place is trashed - she evacuated so she was personally ok.

A few years back they had a fire at the same building - more localized fire, did about $1M damage.

Recently, I understand, they commissioned a report to cost-out fire sprinkler installation to this building and the estimated cost was $4,500 per unit. Which I thought was surprising low, especially given that Hawaii condo real estate is so expensive. There are near 600 units in the building. The HOA decided NOT to proceed with sprinklers at that time.

RE: Hawaii Highrise Fire

In light of recent world events and their own, I bet if they voted on it again the measly $4.5k would would be easily embraced by the majority.

Keith Cress
kcress - http://www.flaminsystems.com

RE: Hawaii Highrise Fire

Quote (itsmoked)

I bet if they voted on it again the measly $4.5k would would be easily embraced by the majority.

I agree. Especially since the estimated cost of $4,300 per unit in 2005 climbed to $9,000 per unit in 2013.

Quote (Honolulu Star-Advertiser)

The 2013 report updated one he authored from 2005 that pegged the cost of installing sprinklers at the Marco Polo at about $4,300 per unit.

Quote (Honolulu Star-Advertiser)

At the 586-unit Marco Polo, built in 1971, the board was told in July 2013 that it would cost about $4.5 million to install an automatic sprinkler system throughout the building. That equates to nearly $9,000 per unit.

Given the history of fires to this condo complex, new fire insurance premiums are going to skyrocket.

RE: Hawaii Highrise Fire

Quote:

insurance premiums are going to skyrocket

Excellent point that would also allow a cost benefit study. ROI kinda thing.

Keith Cress
kcress - http://www.flaminsystems.com

RE: Hawaii Highrise Fire

Why is this even an issue with how much those condos are worth? Who has these condos and can't bear a $9k maintenance bill?

RE: Hawaii Highrise Fire

I'm not sure that those condos are all that valuable..... Maybe $400k~$600k.

Certainly not cheap, but nowhere near San Francisco or Manhattan prices.

RE: Hawaii Highrise Fire

I think lots of people would have issues with the cost. Surveys show less than 15% of all Americans could comfortably afford a $9k bill:
https://www.fool.com/investing/2016/09/25/how-much...

TTFN (ta ta for now)
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RE: Hawaii Highrise Fire

The HOA could take out a 10 year loan and amortize the whole thing over 10 years. Call it $10k or $1k a year. $85 a month...

Keith Cress
kcress - http://www.flaminsystems.com

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