133 Kai'ulani Ave.
Honolulu, HI 96815
The proposed 133 Kaiulani Avenue Condo-tel project, a 32-story, 246-unit condominium-hotel that would replace the King’s Village shopping center in Waikiki has been pushed to the back burner to simmer by the developers. The managing partnership of MacNaughton Group, Kobayashi Group and BlackSand Capital blamed the red hot construction market and the high cost of construction as the impetus for delaying breaking ground on the project, as reported by Pacific Business News.
The Kaiulani condo-tel project would replace the Prince Edward apartments and Hale Waikiki, in addition to the King’s Village Shopping Center. Construction for the project was to start last year with a scheduled completion date of 2018. The developers paid out $41 million to aquire the land for the project located in Central Waikiki.
Last year the same developers’ nixed their Vida project located at 888 Ala Moana in Kaka’ako. The proposed luxury tower condo project was to overlook Kewalo basin but was cancelled citing lack of demand and rising costs.
The Kaiulani condo-tel has planned for 168 studios, 73, 1 bedroom, and a handful of 2 bedroom, and 3 bedroom units in a 350-foot high-rise. 85% of the units are estimated to be operated in a hotel rental program. The hotel lobby and several retail spaces will occupy the ground level. There will be a lobby lounge and reception area, as well, as a restaurant, bar, event and meeting spaces including a recreation deck.