HONOLULU (KHON2) — Another longtime Kailua business is closing.

Since 1988, Island Treasures Art Gallery has been in Kailua as a landmark gallery and one of the first boutiques on the Windward side. Over 300 local artists supply the store with handmade art and Koa from Hawaii. After more than 30 years, they will bid a final aloha at the end of August.

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“We are closing because the rents in Kailua have escalated over the years from $2,500 per month to $15,000 per month,” said Gail Allen, owner of Island Treasures.

Allen said since they are a consignment gallery selling art from local artists, they have to price the art reasonably to sell, but she added that there’s not enough margin to pay such high rents.

“We are working for the landlord and the stock investors for A&B corp.,” said Allen.

Another reason they’re shutting down is because of the COVID-19 pandemic, which Allen said “ruined” their Japanese visitors who made up 50% of sales.

“The closing of vacation rentals in Kailua has shut down our tourism that purchases gifts to take home. We do not know who will take over the location,” she said.

“We will truly miss our small family business, employees, and community of loyal customers from all over Hawaii.  We have moved to the Island of Lanai and will be selling everything including Koa fixtures and rack and cases.”

Gail Allen, owner of Island Treasures Art Gallery

Allen also extends her aloha to the local artists who have supported them for many years.

Island Treasures will be having a final closing party and sale on Friday, Aug. 19, from 5 p.m. to 9 p.m. where there will be music, drinks and appetizers to thank their customers. They are located at 602 Kailua Road, Suite 102.

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Island Treasures will close their doors for good on Aug. 31. Everything will be 25% to 75% off.