She met Tom Chan at the University of California-Berkeley in 1972, but the two did not become a couple until ten years later. At the time, Mr. Chan had been living in Hong Kong and backpacking through Asia and India, while Ms. Chan had explored Europe as a flight attendant for TWA.
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They agreed that the best trip was to places they knew least about. “It’s more fun than school,” Ms. Chan said. “We are like cultural anthropologists.”
The Chans settled in Sacramento and raised two daughters. She worked various jobs – yoga instructor, retail manager, English teacher – while he ran General Produce, a food wholesaler founded by his grandfather. In addition to their home in Sacramento, they owned several rental properties. But they always wanted to buy abroad.
The opportunity arose last year when Ms Chan’s cousin, Blake Piper, who lived in Tokyo, offered to help. Mr. Piper had recently founded a real estate company that targeted foreign buyers and travelers.
Today, Akiya attracts foreign buyers and business people who smell a bargain in heritage structures and short-term rentals. However, investors should be wary: Abandoned homes can quickly deteriorate in the humid climate, home inspections are rare and the complexity of Japan’s real estate industry confuses many outsiders.
But the Chans were determined to find a property that could generate income and where they could stay occasionally. “There is a trend in vacations these days where tourists want authentic experiences,” said Ms. Chan, “where the Japanese home still has tatami mats and shoji screens, you have to take off your shoes, sleep on futons on the floor that are put away every night, but has modern comfortable amenities such as a modern bath, a luxury toilet and a modern kitchen.”
Mr. Piper and a partner concentrate their operations at Atami, a coastal hot springs resort about 45 minutes southwest of Tokyo. Atami has been extensively rebuilt in the post-war period and now has the feel of a faded honeymoon town with great seafood and akiya in abundance.
“We have hot springs all year round and a beach in the summer,” says 43-year-old Mr. Piper. “Atami is on the way to Kyoto, but it has its own strange, slightly neglected bubble-era seaside resort vibe.”
In early 2025, the Chans flew to Tokyo to view properties. They wanted a traditional akiya from the Showa era (1926-89) with original details, and focused on Kinomiya, a hilly neighborhood in Atami with a large Shinto shrine and views of Sagami Bay.
The couple set aside about $1 million, funded by an inheritance and stock sales, knowing that while Akiya can sell cheaply, it often requires a complete renovation. They also considered buying more than one property with that budget.
“Patty has always had a passion for real estate,” said Mr Chan, also 71. “I just came along for the ride and try to keep things on track. At some point in my life I don’t want to tie my money up in real estate. I want cash!”
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