Project Next
Patricia Chang Moad, 38, is rapidly making a name for herself in Hawai‘i’s development circles, where her family’s AC Hotel by Marriott Honolulu was the precursor to a wave of more than $2 billion in downtown redevelopment.
Chang Moad oversaw the adaptive reuse of the old Remington College into a 112-room hotel for Continental Assets Management, a premier private real estate investment and development company led by her father Andy Chang, who is the founder and CEO. Chang Moad, who is vice president of Continental Assets Management, says a reason that she has succeeded in a male-dominant industry is that she first had to prove herself to her immigrant father, who expected her to become an attorney.
“I’ve spent a good chunk of my life figuring out what makes me happy and what fuels my motivation,” she says. “I think it was a very big surprise for my dad that his daughter has taken such an active role in the family business. Could I see myself running it one day? 100%.”
So far, Chang Moad’s career choice has been better than she could have imagined.
“I love reviving properties! I always have had a soft spot for historical buildings and older properties. I love the challenge of renovating them — always have,” she says.
She says some questioned the downtown location of the AC Hotel by Marriott Honolulu, and her decision to design it with multiple food-and- beverage venues and meeting space. But the property, operated by partner Highgate, opened with strong demand, and has activated the downtown core, improved commerce, and helped to lower the crime and loitering that was rampant in downtown.
“I’ve heard from many people what an improvement it’s been,” she says. “I’m excited that others have been investing big in downtown as well. My hope is we see downtown Honolulu evolve from just a workplace to a community where people love to live, visit and stay.”
After finishing the AC Hotel by Marriott Honolulu, Chang Moad says she was approached with the opportunity to help lead the renovation of the Mauna Kea Resort on the Big Island. “It’s the first big project I’ve done separately from my family in the last 10 years,” she shares. “I’m honored to be part of the re- imagination and re-positioning of such an iconic property in Hawai‘i.”
Chang Moad says she continues to look for other development opportunities that fit the investment criteria for her family’s business. “Our Hilton on Kaua‘i is due for a large renovation, and I look forward to starting that after the Mauna Kea is done.”
Chang Moad says she also will be part of the Lahaina rebuilding conversation as the future of the family’s Makai Sunset Inn is still uncertain following the Maui wildfires. “We bought it a year and a half before Lahaina wildfire,” she says. “It burnt down two weeks after we had finished the renovation.”
Chang Moad says her career has not been without its challenges, but she considers herself blessed to learn from her parents, while supporting the growth of her family’s business. “Family businesses are disappearing as the business climate in Hawai‘i makes it harder for us to thrive and compete against bigger conglomerates and publicly traded companies,” she says. “It’s important to have local families servicing the community, whether it be cars or groceries and as an employer, too.”
Chang Moad says her father, who built the family business after immigrating to California from Taiwan, taught her to work harder than anyone in the room. And to do things with conviction. “If you have belief in yourself and your goals, you are more likely to succeed.”
Chang Moad adds that her mother, Linda Chang — who hails from Hawai‘i and works as the company’s chief financial officer — taught her, “There are many different approaches one can take to get things done.”
Currently, the non-traditional path is the right approach for Chang Moad at home and in business, where she is one of Hawai‘i’s under-represented female development mavens. She says she can pursue her “goals relentlessly” because she chose a supportive partner Greg Moad, who is taking a break from his career as a chef to be a stay-at-home father.
“We got engaged in three weeks and married in 11 months. It’s been 12 years,” she reveals. “My husband is amazing. He is a very kind, patient and loving person.”
Chang Moad says she hopes her girls — Penny, 10, and Poppy, 6 — learn to “walk through life with grit and grace,” and that they “always have a strong belief in themselves and a healthy moral compass to make good decisions in life and to be a good human.”