North Shore surf staple Xcel is shaking up Haleiwa's commercial core, as founder Ed D'Ascoli has quietly put the company’s longtime headquarters, the D'Ascoli Building on Kamehameha Highway, on the market. A local business outlet reports the asking price at $7.95 million, and the two-story property has anchored Xcel’s retail, manufacturing and distribution operations since 1990, turning it into a familiar landmark for anyone who drives through town. Any sale could shuffle some of the most coveted commercial space in central Haleiwa, where storefronts and surf-industry jobs compete for a very limited slice of land.
According to Pacific Business News, D'Ascoli listed the property at 66-590 Kamehameha Hwy with an asking price of $7.95 million. The outlet reports that D'Ascoli is the listing owner and that the site has long served as Xcel's main base of operations. The move marks one of the first times the D'Ascoli Building has been publicly offered in decades.
Property and offer details
The package on the market includes the D'Ascoli Building along with adjacent parcels, totaling about 13,087 square feet of building area on roughly 0.99 acres. Marketing materials describe a mix of retail storefronts, an automotive shop and a single-family home. Brokers pitching the deal highlight redevelopment potential and call it a "covered land play" with room to grow net operating income. As outlined in the offering memorandum, the two parcels were previously presented together with an asking price of approximately $10,225,663, according to CBRE.
Who's in the building
The offering notes that Xcel Wetsuits occupies around 60% of the D'Ascoli Building and has used the space for retail, manufacturing and distribution since the early 1990s. Commercial listings for 66-590 Kamehameha Hwy show smaller suites available for lease and list Xcel, sometimes labeled as Xcel Surf, among current tenants, underscoring the property's blend of local retail and light industrial users, per LoopNet.
Why buyers might be interested
Local brokers point to Haleiwa's tight commercial inventory and steady visitor traffic as reasons investors might eye the property. Public valuation tools show an assessed value that marketing materials say could support redevelopment upside. Those same materials also flag rents that have stayed largely flat since 2019, suggesting near-term room to increase income for a buyer willing to reposition the asset, according to Zillow.
Price notes and next steps
There are a couple of price figures circulating. Pacific Business News reports that D'Ascoli listed the D'Ascoli Building at $7.95 million, while the CBRE offering packet presenting the two parcels together cites a combined asking price of about $10,225,663. The gap may reflect whether the owner is marketing just the primary building or a larger two parcel package. The CBRE memorandum includes broker contact details along with a downloadable offering packet for prospective buyers.
Local roots and what this could mean
Xcel traces its origins to Ed D'Ascoli in the early 1980s and shifted operations to Haleiwa in 1990, growing into a longtime local employer and retail presence on the North Shore. Neighbors and small-business owners are watching the listing closely for signs of what a new buyer might do next, whether that is keeping local manufacturing space in place or pursuing higher rent retail that could alter the town's mix of shops and surf-industry spaces, according to Growjo.
