December 4, 1988
A decision by the Catholic Church to sell its St. Augustine Church property in the heart of Waikiki has provoked renewed controversy over the continuing buying spree in Hawaii by Japanese investors. Honolulu Bishop Joseph Ferrario announced that the 50,000-square-foot parcel was being sold to Hama Kikaku Co. of Tokyo for $45 million. Diocese offices were besieged with phone calls and clergy and parishioners voiced anger. Ferrario defended his decision.