Hilton Grand Vacations (HGV) is nearing the completion of its 32-story tower in Waikiki, a project that faced unexpected hurdles but is now on track for a summer opening. This development signifies a significant investment in the Waikiki market and reflects HGV's continued commitment to expanding its presence in Hawaii. The new tower, which will be the sixth property for HGV in Honolulu, is anticipated to introduce new timeshare units and elevated amenities to the area.
The project, officially named Ka'āina (The Land), faced various challenges, including rising construction costs. Initially, the site was slated for a condominium hotel from a partnership involving BlackSand Capital, The MacNaughton Group, and Kobayashi Group, which was later put on hold due to increasing expenses. HGV then acquired the site, which included the Hale Waikiki Hotel and Prince Edward Apartments, signaling the company's confidence in the Waikiki market. According to a report by Pacific Business News, the project is a key component of HGV's expansion strategy in Oahu, with the goal of increasing its timeshare unit count to 1,429.
The new tower's location, directly behind the Hyatt Regency Waikiki Beach Resort & Spa, places it in a prime position to attract both tourists and investors. This strategic placement offers guests unparalleled access to Waikiki's vibrant entertainment, shopping, and dining options. The project also marks the debut of the Hilton Club in Hawaii, promising premium design and exclusive amenities. The addition of this luxury offering is aimed at attracting a high-end clientele seeking exceptional vacation experiences.
The construction of Ka'āina isn't just a win for HGV; it's a boost for the local economy. Such projects provide employment opportunities for construction workers, hospitality staff, and various service providers. Moreover, the new tower adds to Waikiki's inventory of upscale accommodations. With Hawaii timeshare occupancy reaching 91.5% in the second quarter of 2018, the tower is well-positioned to capitalize on the strong demand for timeshares, benefiting both existing and prospective owners.
With a projected opening next summer, the Ka'āina tower is poised to enhance Waikiki's hospitality landscape. This project not only demonstrates HGV's dedication to Hawaii but also reflects the ongoing evolution and investment within the state's tourism sector. It exemplifies the resilience of the tourism industry in the face of challenges and the enduring appeal of Waikiki as a premier vacation destination.
