Hilton Grand Vacations has acquired a 1.05-acre site that currently includes King’s Village in Waikiki from BSC KVSC and announced to develop a 32-storey hotel and residential tower.
BSC is a partnership that includes BlackSand Capital, a real estate private equity firm focused solely on Hawaiian real estate, The MacNaughton Group and Kobayashi Group and others.
The site also includes the Hale Waikiki Hotel and Prince Edward Apartments. The tower is expected to offer 191 units, including studios, one-, two- and three-bedroom suites, many of which will offer ocean views, and amenities including a fitness center, pool and owners’ lounge.
Construction for the tower is anticipated to begin in the second quarter of 2019, with completion in the first quarter of 2022. Sales of units are expected to begin in the middle of 2020.
It will be Hilton’s sixth property in Honolulu as part of continued efforts to expand its portfolio on Oahu. In March 2017, the company opened The Grand Islander by Hilton Grand Vacations Club in Waikiki.
Mark Wang, president of Hilton Grand Vacations, said: “Building on our local development history that started with the Lagoon Tower in 2000, our latest project in Waikiki will assure that HGV continues to offer lifetime vacation experiences to our next generation of owners. We’re also excited that this project will be the first Hawaii location for our Hilton Club, which offers premium levels of design and amenities.”