ProsPac exec Rick Stack finds a new challenge on every project. Inflation is the latest one.

In a recent profile by Pacific Business News, ProsPac Executive Vice President Rick Stack shared insights on navigating rising construction costs and maintaining momentum on Kaliʻu Ala Moana—ProsPac’s second high-rise residential development in Honolulu.

“Even though I’ve been doing this for a long time, you learn something new on every project,” Rick told PBN. “The biggest challenge we’ve had with Kali‘u is that construction costs have increased substantially, probably at a faster rate than at any other four-year period in my career.”

With construction costs continuing to rise across the industry, Rick discussed how ProsPac is adapting in real time. That includes taking a proactive approach in materials procurement, daily communication with contractors and staying flexible where possible.

Despite the economic pressures, Rick emphasized ProsPac’s long-term commitment to quality and community-focused development.

“That’s our job as the developer, to make those decisions, navigate that process and make sure that we can still deliver the project at the price that we’ve promised to our owners.”

Read the full article on Pacific Business News here.

About ProsPac Holdings Group

ProsPac, established in 2016, is a Honolulu-based real estate investment firm dedicated to thoughtful property development in the state of Hawaii. The company developed Azure Ala Moana, a mixed-use project that includes 330 condominiums, 78 rental apartments and commercial space in the heart of Ala Moana. The management team has decades of combined international experience from real estate investments and developments in North America and Asia.