O. Nicholas Ordway

Professor of Finance
Faculty Advisor, Real Estate Track

Academic Background

  • PhD, Georgia State University, 1978
  • MBA, Georgia State University, 1973
  • JD, University of Georgia, 1972
  • BA, Emory University, 1969

Selected Publications


The Absolute Beginner’s Guide to Buying a House, Prima (Random House) 2002.

Income Property Appraisal and Analysis (Russian), (with Jack Friedman), Moscow: The Russian Guild of Realtors, 1995 (Adopted by the Economic Development Institute/ The World Bank for appraisal education in Russian language countries of the former Soviet Union). 

Book Chapters

“Appraisal Review in a Litigation Support Role” (with Jack P. Friedman), in Richard C. Sorenson, Appraising the Appraisal: The Art of Appraisal Review, 2nd Ed., Chicago, The Appraisal Institute, 2010.

“Is Government Responsible For Solving the Affordable Housing Problem?" Price of Paradise II, Honolulu, 1993.

"Agency Role of Real Estate Brokers," (Robert Irwin, Editor), The McGraw-Hill Real Estate Handbook (2nd Ed.), New York: McGraw-Hill Book Company, 1993.

Editorial Reviewed Articles

"Legal Aspects of Leasehold Properties in Hawaii, (in Japanese), Journal of Real Estate Marketing, No. 153, Spring 1995. (Based on invited lecture at Waseda University, November, 1994).

"The Real Secret to Designing Successful Real Estate Courses", Real Estate Educators Association Journal, Spring 1994

Trade Publications Related to Specialization

"Empty libraries, empty schools, empty heads." Honolulu Star-Bulletin, August 4, 2002.

"Academic Research that May Be Useful in Hawaii," Hawaii Real Estate Commission Bulletin, July1998.

Other Publications

Principal Investigator, “Fair Housing Analysis of Impediments in the State of Hawaii,” (State Hawaii Housing Finance and Development Corporation, Grant No. PPE–96–01) Honolulu: Hawaii Real Estate Research and Education Center, November 1996.

Principal Investigator, “ Proposal for a Residential Leasehold Land Reform Act: An Evaluation of the Advantages of Reforming the Internal Revenue Code to Qualify Residential Ground Lease Financing for Deductions or Tax Credits,” (U.S. Department of Housing and Urban Development; Award No. DU100G000005896), Honolulu: Hawaii Real Estate Research and Education Center, May 1995.


  • RE 310: Real Estate and Environmental Law
  • RE 320: Real Estate Finance and Investment


  • 1997 - Dennis Ching Outstanding Teaching Excellence Award, Shidler College of Business, University of Hawaii
  • 1995 - Commendation from Governor Ben Cayetano for 8 years services as Director of the Hawaii Real Estate Research and Education Center
  • 1995 - Special Award for Outstanding Contributions in Real Estate, The State of Hawaii Real Estate Commission
  • 1992 - National Distinguished Career Award, Real Estate Educators Association
  • 1991 - Governor’s Award for Meritorious Contributions to Research and Higher Education in Hawaii
  • 1990 - Real Estate Educator of the Year, Real Estate Educators Association
  • 1987 - Ballard Award, from the American Society of Real Estate Counselors
  • 1987 - Billy Turner Memorial Outstanding Undergraduate Teaching Award, University of Texas Finance Society
  • 1984 - Special Award for Outstanding Contributions in Real Estate, The State of Hawaii Real Estate Commission
  • 1982 - Percy and Betty Wagner Award from the American Institute of Real Estate Appraisers
  • 1979 - Outstanding Business Faculty Award (Phi Chi Theta)
  • 1976 - Outstanding Service Award of the Georgia State University Debate Team
  • 1976 – 1979 - Phi Chi Theta Award for teaching and distinguished service to students and the university community
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University of Hawai‘i at Mānoa
Shidler College of Business
2404 Maile Way



Contact Info

(808) 956-7892
(808) 956-9887