Only nine hotels in Waikīkī sit truly on the sand; from Hilton Hawaiian Village to Kaimana Beach Hotel, the list reveals a mix of fee simple and leasehold ownership that shapes some of the most valuable shoreline real estate in Hawaiʻi.
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Crown Jewel, Sold. Legacy, TBD.
Kamehameha Schools shocked the market by selling the 10.3 acres beneath the Royal Hawaiian Hotel to Japan’s Daisho Co. for $510M, an unprecedented shift in Waikīkī land ownership with deep cultural, financial, and historic implications.
Outrigger Owner KSL Refis, But Still No Exit
KSL Capital Partners refinanced Outrigger Reef Waikiki Beach Resort and Sheraton Kauaʻi Coconut Beach Resort for $480M, pulling out $148M in equity while keeping full ownership, signaling continued hold, not an exit, even eight years into the Outrigger acquisition.
Castle Joins the Circle
Castle Resorts & Hotels is taking over the Waikīkī Circle Hotel on Nov. 1, its first new operator in 30+ years, with CEO Matt Bailey promising to elevate the iconic 1960s landmark while keeping it locally run.
Billionaires Land Club
Michael Dell just paid $400M for the land under Four Seasons Hualālai, marking one of Hawaiʻi’s biggest land plays and a rare sale by Kamehameha Schools.
The Hotel Sale That Wasn’t: Oasis or Mirage?
PBN’s report on the $23M Oasis Hotel Waikīkī sale missed the real story, it was a land deal, not a full hotel buy. Hawaiʻi hotels are complicated!
The Ground Beneath Waikīkī Just Shifted (Literally)
Waikīkī just saw its biggest land sale in years as the Steiner family sold the ground beneath the Hyatt Regency for $215M, highlighting Hawaiʻi’s unique world of leasehold hotel real estate.
Kings Village and Elvis Statue Just a Memory
Hilton Grand Vacations’ new 32-story Ka Haku tower has topped off on the former King’s Village site, bringing 205 timeshare units to Waikīkī next summer, minus the Elvis statue, but likely not the clipboard-wielding ambassadors.
The Single Life is Over for Romer
Romer Waikīkī has ended its adults-only policy, opening doors to all ages to boost demand, while keeping its stylish, “good neighbor” vibe and popular Lei Stand bar intact.
Hotel Molokaʻi Changes Hands
Hotel Molokaʻi has been sold to Molokaʻi Hotel Group, giving the new owner 51 keys and all common areas. Visitor demand remains modest, with 2024 averaging 468 visitors per day and June 2025 posting a $178 ADR and 48.5% occupancy.
