HONOLULU -- Japanese billionaire Genshiro Kawamoto placed 59 of his properties on the market Thursday. Experts said they are "priced to sell".

Kawamoto (pictured, left) owns 161 houses and condominiums on Oahu. Thursday nearly one-third were put up for sale.

"The prices as far as I can see are basic meat and potato prices. Nothing frothy with champagne bubbles and nothing white rice and nothing else. They are good deals," research consultant Ricky Cassiday said.

Most of Kawamoto's properties up for sale are in town, Hawaii Kai, Kailua and Waikiki. All of the homes are debt-free and they have no mortgages.

Cassiday suspects Japan's sluggish economy may be behind Kawamoto's decision to sell.

Kawamoto made headlines in the 1980s by buying 180 homes and condos on Oahu. His buying spree drove up prices. His sell off may hold down prices.

"Some people have been saying 'Gee there's no inventory.' Well, tomorrow what they might be saying is 'Gee there's a little bit too much," Cassiday said.

Carol Asai-Sato, Kawamoto's attorney, said the move to sell 59 properties is unusual, but she said she does not know the reason for the sell off.

Kawamoto's Kahaluu Property Still Issue

The Japanese billionaire is waiting to see what the City Council will do about his bitter dispute with two of his neighbors.

Kawamoto owns 130 acres of land behind these two Kahaluu homes and the road that goes between them.

In December, Kawamoto had the two driveways ripped out saying they encroached on his property.

Later this month, the City Council will discuss condemning the driveway area so residents can again easily access their homes.